Global cardiovascular and soft tissue repair patches market size was valued at USD 2,499.6 million in 2014 and is expected to reach nearly USD 5792.7 million in 2022. Key growth drivers of the market include increasing prevalence of congenital heart diseases such as ventricular septal defect, atrial septal defect, and common atrium. These devices are used applications such as tissue repair procedures which include vascular repair & reconstructions, dural repair, and soft tissue repairs. Furthermore increasing prevalence of hernias such as inguinal hernia, congenital diaphragmatic hernias, and others are expected to significantly boost the usage rates in the next seven years.
The market is expected to witness double digit grow over the forecast period of seven years. Key factors attributing to its rapid growth include increasing collaboration between various research organizations, raw material suppliers and manufacturers. Additional factors such as development of novel technologies using tissue engineering materials, biological materials, are also expected to further propel the sales of these devices.
The cardiovascular and soft tissue patches market is highly fragmented owing to different product sizes, different prices and different raw materials used. Each application requires specific dimensions and hence these are available in sizes starting from 0.8 cm X 0.8 cm, 1 cm x1 cm, 2 cm x 9 cm to 10 cm x 15 cm.
North America cardiovascular and soft tissue patches market by application, 2012-2022, (USD Million)
The market is broadly segmented on the basis of applications as cardiac repair, vascular repair and reconstruction, pericardial, dural, and soft tissue repair.
In 2014, soft tissue repair held the majority share of over 30%. Key factors attributing to its large share include increasing prevalence of various hernias such as inguinal hernia, umbilical hernia, ventral hernias, and others.
Furthermore, the cardiac repair segment generated is expected to be the fastest growing application area of cardiovascular and soft tissue repair patches market growing at a CAGR of 11.5%. Congenital heart diseases are highly prevalent among pediatric population, which in turn is expected to drive the demand for cardiac patches in the next seven years.
Raw Material Insights
ePTFE, biomaterial and tissue engineered material are key raw materials used in the manufacturing of these patches. ePTFE and biomaterial are two main raw materials used to manufacture cardiovascular and soft tissue. Furthermore, the ePTFE segment held the majority of the share of over 66% in 2014. Easy availability of raw material, high tensile strength, and high durability are key factors attributed to its large share.
However, biomaterial and tissue engineered materials are gaining popularity and are expected to be the fastest growing segment with a CAGR of 12.1% during the forecast period. Bovine pericardium is the most widely used raw material for cardiovascular and soft tissue repair patches. Bovine pericardium gained more acceptances owing to its physical & chemical properties and due to advantages associated with it which include their acceptability in human body, and risk of post-operative complications. Bovine patches contain high amounts of structural protein, which provides good elasticity and conformity to suit the anatomical conditions. These patches can be easily tailored to suit different sizes and configurations. The bovine patches are generally treated with proprietary solutions to reduce the chances of calcification. Few of those solutions include XenoLogiX solution used by Edwards Lifesciences and EnCap AC Technology used by St. Jude Medical. Furthermore, these patches provide greater reliability, convenience, and enhance biocompatibility.
Key regional segments include North America, Europe, Asia Pacific, MEA and Latin America. In 2014, Asia Pacific held the majority of share in global cardiovascular and soft tissue repair patches market. Key factors attributing to its large share include high prevalence of the target diseases such as congenital heart diseases and hernias.
North America is expected to be one of the fastest growing regions over the forecast period. Presence of developed healthcare infrastructure and high awareness levels pertaining to the availability of novel products is expected to boost usage rates of cardiovascular and soft tissue repair patches over the forecast period.
Competitive Market Share Insights
Industry analysis indicates that a majority of the revenue is generated by a few players such as Cryolife, Edwards Life Sciences, Bard Peripheral Vascular Inc, Baxter, and W.L.Gore & Associates. Some emerging players in this industry include Admedus, Neovasc and Southernlight Biomaterials.
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