Cardiovascular And Soft Tissue Repair Patches Global Market Report 2023
Major players in the cardiovascular and soft tissue repair patches market are B Braun, Baxter International Inc., CorMatrix Cardiovascular Inc., Cryolife Inc., Edwards Lifesciences Corporation, Glycar SA Pty Ltd.
New York, March 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cardiovascular And Soft Tissue Repair Patches Global Market Report 2023" - https://www.reportlinker.com/p06433445/?utm_source=GNW
, Labcor, LeMaitre Vascular Inc., Medtronic Inc., Neovasc Inc., Novo Medi Sciences, Terumo Medical Corporation, WL Gore and Associates Inc., Nurami Medica and FOC Medical SA.
The global cardiovascular and soft tissue repair patches market grew from $3.58 billion in 2022 to $3.93 billion in 2023 at a compound annual growth rate (CAGR) of 9.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cardiovascular and soft tissue repair patches market is expected to grow to $5.66 billion in 2027 at a CAGR of 9.5%.
The cardiovascular and soft tissue repair patches market consists of sales of xenogeneic patch and allogeneic patch.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Cardiovascular and soft tissue repair patches refer to artificial tissue generated in the laboratory used for the restoration of damaged body tissue made up of tissues grown in the laboratory and polymers. These are used for the replacement of damaged body parts to maintain the functioning of a body organ, provide mechanical, regeneration support for damaged myocardium layer, and restore functional characteristics of injured tissue for the treatment of cardiovascular diseases.
North America was the largest region in the cardiovascular and soft tissue repair patches market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the cardiovascular and soft tissue repair patches market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main raw materials of cardiovascular and soft tissue repair patches are eptfe, biomaterial and tissue-engineered material, and other raw materials.The ePTFE material is used in the manufacturing of medical devices such as catheters, biocompatible services, and cardiac sutures.
The ePTFE is an expanded Polytetrafluoroethylene material made up of tetrafluoroethylene polymer units composed of Teflon.The products are synthetic patches and biological patches.
The applications are cardiac repair, atrial septal defect, common atrium, defects of the endocardial cushion, ventricular septal defect, tetralogy of Fallot, right ventricular outflow tract reconstruction, suture bleeding, vascular repair and reconstruction, transposition of the great vessels. The end users include hospitals, ambulatory surgical centers, and specialty clinics.
The growing demand for patches in cardiac disease is expected to propel the growth of the cardiovascular and soft tissue repair patches market.Cardiac disease is a category of disorders related to the heart and blood vessels.
The demand for patches for cardiac disease is increasing due to lifestyles and consumption of smoking and alcohol. For instance, according to the World Health Organization data 2021, an organization under the United Nations that focuses on worldwide public health, cardiovascular diseases (CVDs) are the leading cause of mortality worldwide, claiming an estimated 17.9 million lives a year. Furthermore, in the United States, heart disease is the leading cause of death for both sexes and members of the majority of racial and ethnic groups. Every 34 seconds, cardiovascular disease claims one life in the United States. In the United States, heart disease was the cause of 1 in 5 fatalities in 2020, taking the lives of almost 697,000 individuals. Therefore, the growing demand for patches of cardiac disease will drive the market in the upcoming years.
Technological advancements are a key trend gaining popularity in the cardiovascular and soft tissue repair patches market.Many companies operating in cardiovascular and soft tissue repair patches are developing new products or technologies for strengthening the demand for the cardiovascular and soft tissue repair patches market.
For instance, in February 2020, Terumo introduced AQUABRID, a new surgical sealant, to the EMEA market.New surgical sealant AQUABRID® is specially developed for aortic procedures.
It combines with water (blood) and creates an elastic coating that clings firmly to the tissue. Even when blood coagulation is limited while undergoing cardiac surgery, it is secure and efficient in attaining hemostasis.
In July 2021, Becton, Dickinson, and Company, a USA-based medical technology company specializing in manufacturing and medical devices distribution, instrument systems, and reagents, acquired Tepha Inc. for an undisclosed amount. This acquisition helps Becton, Dickinson, and Company to expand its surgical mesh and soft tissue repair product portfolio with resorbable more poly technology and expand business operations across the USA. Tepha Inc. is a USA-based medical device company specializing in bioabsorbable polymer technology, tissue engineering, and regenerative medicine for cardiovascular disease treatments.
The countries covered in the cardiovascular and soft tissue repair patches market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The cardiovascular and soft tissue repair patches market research report is one of a series of new reports that provides cardiovascular and soft tissue repair patches market statistics, including cardiovascular and soft tissue repair patches industry global market size, regional shares, competitors with a cardiovascular and soft tissue repair patches market share, detailed cardiovascular and soft tissue repair patches market segments, market trends and opportunities, and any further data you may need to thrive in the cardiovascular and soft tissue repair patches industry. This cardiovascular and soft tissue repair patches market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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