The beating heart patch market has witnessed significant growth in recent years. Beating heart patches are tissue engineered materials used to repair or replace damaged heart tissues without interfering with the natural beating of the heart. They help eliminate the need for heart transplantation or open-heart surgeries in patients suffering from congenital heart diseases or those who have had heart attacks. The patches are made from natural biomaterials like collagen and fibrin and help integrate with the natural cardiac tissues, generating new heart muscles. Their implantation is minimally invasive using tools like catheters and doesn't require cardiac bypass.
The global beating heart patch market is estimated to be valued at US$ 223.6 Mn in 2024 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030.
Key Takeaways
Key players: Key players operating in the beating heart patch market are BIOCARDIA, INC., Athersys, Inc., CorMatrix Cardiovascular, Inc., BD, LifeNet Health, Inc., and Admedus Ltd. These key players are focusing on developing innovative biomaterial-based beating heart patches through extensive R&D.
Key opportunities: The rising incidences of congenital heart diseases and increasing demand for minimally invasive treatment procedures present significant growth opportunities for players in this market. Growing regulatory approvals for new patches are further expanding the opportunities.
Global expansion: Leading players are expanding their geographical footprint through partnerships and distribution networks across major markets. The growing healthcare infrastructure and availability of funding for clinical trials in developing nations are also aiding global expansion of the beating heart patch market.
Market drivers: The increasing incidence of congenital heart diseases globally is a major market driver. According to WHO, congenital heart diseases affect nearly 1% of newborns worldwide each year. Additionally, the growing geriatric population who are more prone to cardiovascular issues is propelling the demand for beating heart patches.
PEST Analysis
Political: Beating heart patch is a new medical device. Regulations around new medical devices are stringent to ensure patient safety. Stringent regulations may slow market growth.
Economic: Healthcare markets are growing in emerging economies due to rising incomes. This is driving demand for advanced treatments like beating heart patches. Recession could slow market growth.
Social: Aging population is driving need for treatments for heart diseases. However, high treatment costs can be a barrier in some markets. Improving access to healthcare can boost adoption.
Technological: 3D bioprinting and stem cell technologies are advancing beating heart patch design. More durable patches getting developed. Data insights also improving post-surgery care. These advances can expand applications and uptake.
Geographical regions with high market concentration
North America currently holds the largest share of the beating heart patch market due to rapid uptake of advanced treatments and presence of major players. The United States accounts for the bulk of the North American market. The region's large healthcare expenditure and reimbursement coverage facilitate adoption of costly procedures like beating heart patch implantation.
Fastest growing region
Asia Pacific is poised to be the fastest growing market for beating heart patches during the forecast period. factors driving the region's growth include rising cardiac issues due to changing lifestyles, growing medical tourism, increasing healthcare investments by regional governments and expanding base of private healthcare providers. Additionally, growing expertise in complex surgeries across major countries such as India and China will support market expansion.
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The report covers the cardiovascular surgery devices and equipment market’s segments- beating heart surgery systems, cardiopulmonary bypass equipment, cardiac ablation devices, and perfusion disposables.Explore Complete Report https://www.thebusinessresearchcompany.com/report/cardiovascular-surgery-devices-and-equipment-global-market-reportCardiovascular Surgery Devices And Equipment Global Market Report 2019 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 50+ geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.
It covers all the regions, key developed countries and major emerging markets.
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A higher elective procedure volume due to the less-invasive nature of PCIs when compared to coronary artery bypass grafting is expected to drive bioresorbable stents adoption.Get Discount On This Report https://www.thebusinessresearchcompany.com/sample.aspx?id=2389=discountChapters from Table of Content:Chapter 1.
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