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Beating Heart Patch Market is Estimated to Witness High Growth Owing to Opportunity Address Unmet Clinical Need for Cardiac Tissue Regeneration

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Saya Bonde
Beating Heart Patch Market is Estimated to Witness High Growth Owing to Opportunity Address Unmet Clinical Need for Cardiac Tissue Regeneration

The beating heart patch is a soft, implantable bioscaffold made of animal derived tissue that supports cardiac regeneration. The beating heart patch is sutured over an injured area of the heart that has lost muscle due to a heart attack. The patch restructures, revascularizes and neo-muscularizes damaged cardiac tissue. It provides immediate mechanical support and over time regenerates functional, contractile cardiac tissue. Millions suffer from heart attacks each year leading to loss of tissue and reduced heart function. Currently, the only effective treatment options available are medications and surgical procedures like CABG that do not replace lost muscle. The global Beating Heart Patch Market is estimated to be valued at US$ 20.2 million in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The opportunity to address unmet clinical need for cardiac tissue regeneration is driving growth of the beating heart patch market. After a heart attack, the damaged area of heart loses ability to pump blood effectively. Currently available treatment options only manage symptoms but do not help regrow lost muscle tissue. The beating heart patch provides a therapeutic solution by regenerating new contractile cardiomyocytes in the injured region of heart. This restores heart tissue and function lost due to heart attack. As millions suffer cardiac muscle injury annually and current options remain limited, the beating heart patch presents a major opportunity to transform management of heart attacks.

Porter's Analysis:

Threat of new entrants: The threat of new entrants is moderate as significant R&D investments and certification processes are required to enter this market. However, the growth prospects also attract new players.

Bargaining power of buyers: The bargaining power of buyers is moderate to high as beating heart patches are differentiated products and various options are available from global players.

Bargaining power of suppliers: The bargaining power of suppliers is moderate since raw material availability is not an issue and suppliers can switch to other medical device manufacturers.

Threat of new substitutes: The threat of substitutes is low as beating heart patches do not have close substitutes and are uniquely positioned for treating cardiac arrhythmias.

Competitive rivalry: The competition is intense among the top players due to their large R&D investments and strong distribution networks.

SWOT Analysis:

Strengths: Beating heart patch is a minimally invasive procedure, rapid procedure time, and improved quality of life for patients.

Weaknesses: High costs associated, lack of awareness in developing nations, and risks of infection.

Opportunities: Growing cardiac cases, rising healthcare spending, and untapped growth regions like Asia Pacific and Latin America.

Threats: Stringent regulatory requirements, reimbursement issues, and threat of other treatment options.

Key Takeaways:

The global Beating Heart Patch market is expected to witness high growth during the forecast period due to the rising geriatric population and increasing prevalence of cardiac arrhythmias.

North America dominates the market currently due to developed healthcare infrastructure and supportive reimbursement policies. Asia Pacific is anticipated to grow at the fastest pace owing to growing medical tourism, rising healthcare spending, and increasing incidences of cardiovascular diseases.

Key players operating in the Beating Heart Patch market are Medtronic, Abbott Laboratories, Boston Scientific, and MicroPort Scientific. Medtronic dominates with its extensive product portfolio and global presence. 

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Saya Bonde
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