Cardiovascular And Soft Tissue Repair Patches Market Size, Share & Trend Analysis Report By Application (Cardiac Repair, Vascular Repair, Pericardial Repair, Dural Repair, Soft Tissue Repair), By Raw Material, By Region, And Segment Forecasts, 2022 - 2030

Research Methodology

A three-pronged approach was followed for deducing the cardiovascular and soft tissue repair patches market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for cardiovascular and soft tissue repair patches market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of cardiovascular and soft tissue repair patches market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Cardiovascular And Soft Tissue Repair Patches Market Categorization:

The cardiovascular and soft tissue repair patches market was categorized into three segments, namely application (Cardiac repair, Vascular repair & reconstruction, Pericardial repair, Dural repair, Soft Tissue repair), raw material (ePTFE, Biomaterial and tissue engineered material), region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The cardiovascular and soft tissue repair patches market was segmented into application, raw material, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The cardiovascular and soft tissue repair patches market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty countries, namely, the U.S.; Canada; the UK; Germany; France; Spain; Italy; Russia; China; Japan; India; South Korea; Singapore; Australia; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Cardiovascular and soft tissue repair patches market companies & financials:

The cardiovascular and soft tissue repair patches market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Baxter: Established in 1931, under Delware Law, Baxter International Inc. is a U.S.-based company that provides healthcare products to improve patient safety. It designs, manufactures, and sells medical devices in North America, Europe, Latin America, and Asia Pacific through its subsidiaries. Baxter has about 27 manufacturing facilities worldwide and sells these products in over 100 countries. The company operates in two segments, Bioscience and Medical Products. The Bioscience segment provides plasma-based proteins, therapies for treatment of various diseases such as hemophilia, burns and shocks, immune deficiencies, alpha-1 antitrypsin deficiency, and other blood-related and chronic conditions. This segment also provides healthcare products and vaccines. The medical products business unit manufactures premixed drugs and drug reconstitution systems, intravenous solutions and administration sets, syringes and prefilled vials for injectable drugs, drug reconstitution systems, infusion pumps, IV nutrition products, and inhalation anesthetics.

• Admedus: Allied Healthcare Group Ltd was established in 2011 through the merger of Allied Medical Ltd and bioMD Ltd. The combined entity was listed as ASX on the Australian stock exchange. In November 2013, as part of corporate branding strategy, ASX was renamed as Admedus Ltd. The corporate branding helped the company enter the U.S. and European markets in early 2014. Its key product is CardioCell, which is a single-ply, bio-scaffold, used to repair congenital heart defects and other soft tissue repairs. This product is available in the U.S., Canada, Europe, Singapore, Australia and few other Asian countries. Moreover, Admedus is making strides in the immunotherapy segment with the development of vaccines that treat and prevent diseases and cancers caused by the herpes simplex virus and human papillomavirus (HPV).

• St Jude Medical: St Jude Medical is a medical device company catering to the needs for the following treatment areas such as heart failure, vascular disease, chronic pain, and other neurological diseases. The company is based in the U.S. and was established in 1976. The product portfolios of the company include neuromodulation devices, cardiac rhythm management devices, and implantable cardioverter defibrillators.

• LeMaitre Vascular Inc.: LeMaitre Vascular Inc. is a medical device company based in the U.S. The company and its subsidiaries are involved in developing disposable and implantable devices. Its diversified portfolios consist of products, which find applications in treatment of arteries and veins outside the heart. The company’s product lines include biologic grafts, vascular grafts, laparoscopic cholecystectomy devices, anastomotic clips, and remote endarterectomy devices.

• Biointegral Surgical Inc.: Establised in 2007, Biointegral Surgical Inc. is a medical device company based in the U.S. The company specializes in developing biological implants, heart valves, vascular grafts & patches, and other surgical devices backed by a lifetime warranty. Furthermore, the vascular patches are developed with a “No React Technology” through detoxification of glutaraldehyde treated tissue. The company’s device portfolios are technologically engineered with improved biocompatibility and durability.

• Edwards Life Sciences: Headquartered in the U.S., Edwards Life Sciences is a medical device designing, manufacturing, and marketing company specialized in the science of hemodynamic monitoring and heart valves. The company was established by Miles Lowell Edwards and Dr. Albert Starr in 1958, when they had developed world’s first replaceable heart valve. As of 2013, the company employed over 8,500 people and has presence in more than 100 countries.

• Glycar S.A. Pty Ltd.: Glycar S.A. Pty Ltd. is a privately held company based in South Africa, established in 1994. Core competencies of the company include developing polypropylene PTFE PETP pledgets, intracardiac patches, and polymeric surgical meshes. FDA and CE regulatory bodies have approved its product portfolios. However, the approval is pending for Canada and Japan.

• LabCor: LabCor is a provider of cardiovascular & vascular implantable devices and is involved in developing biotechnological products. The company is headquartered in Brazil and was established in 1984. The company globally serves several countries such as Argentina, France, Italy, Spain, Germany, Belgium, and several Asian markets. Annually, the company develops nearly 20,000 heart valves and grafts. It has an established research center based in Latin America, wherein diverse types of laboratory exams are conducted for products.

• Cryolife, Inc.: Cryolife, Inc. is a biomedical company and is a provider of preserved human cardiac & vascular tissues, surgical adhesives, cardiac lasers, sealants, and hemodialysis access grafts for vascular reconstruction. The company was established in 1984 and is headquartered in the U.S. The company’s preservation technology has expanded the scope of cardiovascular products such as cardiac patches, femoral arteries, saphenous veins, and veins as well as aortoiliac vessels catering to the needs of thousands of patients mainly in North America.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Cardiovascular And Soft Tissue Repair Patches Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2021, historic information from 2016 to 2020, and forecast from 2022 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Cardiovascular And Soft Tissue Repair Patches Market Report Assumptions:

• The report provides market value for the base year 2021 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.