Cardiovascular Repair And Reconstruction Devices Market Size, Share & Trends Analysis Report By Product (Heart Valve Repair, Graft, Patches), By Region, And Segment Forecasts, 2018 - 2025

Report Overview

The global cardiovascular repair and reconstruction devices market size to be valued at USD 4,481.5 million by 2025 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% during the forecast period. Key factors contributing to market growth are an increase in the prevalence of Congenital Heart Defects (CHDs) and technological advancements in molecular chemistry, clinical pharmacology, cell biology, and vascular surgery.

According to the American Heart Association, in 2015, Cardiovascular Diseases (CVDs) are a major cause of death in the U.S. and account for nearly 800,000 deaths in the country. Approximately 85.6 million people in the U.S. suffer from the aftereffects of stroke or some other form of CVD. It is one of the major causes of death globally. In 2015, nearly 17.7 people died due to CVDs, which represents approximately 31% of global deaths. The prevalence of mild CHD is rising in the U.S. Nearly 25% of babies with CHD develop critical CHD in their first year, which needs to be treated with surgeries or medication. Thus, the cardiovascular repair devices market is likely to exhibit significant growth over the forecast period.

New technologically advanced products, product designs, raw material sourcing, raw material fabrication, clinical evaluation, preservation solutions, and preservation techniques have been developed. For example, the introduction of ePTFE by Gore Medical for the manufacturing cardiovascular patches. ePTFE patches are boosting the cardiovascular reconstruction devices market owing to an increase in their usage for a range of applications of cardiovascular repair devices.

Furthermore, various clinical studies are being undertaken to study the applications of patches. Another example is SynerGraft developed by CryoLife, which is the decellularization technology used for processing pulmonary valves and pulmonary cardiac patch tissues. The SynerGraft process ensures the virtual elimination of the allergic donor cell without disturbing structural integrity.

The introduction of transcatheter valves has boosted the demand for tissue valves. Transcatheter Aortic Valve Implantation (TAVI) or Transcatheter Aortic Valve Replacement (TAVR) is an FDA-approved technique used in heart valve replacement for the treatment of symptomatic aortic stenosis. Edwards Lifesciences and Medtronic are some of the established players in the TAVR market. Furthermore, in April 2018, JenaValve which is a Germany based company has successfully enrolled for the CE mark study for the next-gen JenaValve Pericardial TAVR system and are expecting to do a limited launch in few European regions and countries compatible with CE mark within a couple of quarters. Entry of new players with advanced technology is expected to significantly boost the market growth in the coming few years.

Technologically advanced cryopreservation techniques are also among factors contributing to the cardiovascular repair devices market growth. They help preserve raw materials extracted from animal tissues for a longer span of time, and this is playing a crucial role in increasing their life cycle. Technological developments such as these are positively impacting market growth by boosting the demand for cardiovascular grafts or patches.

Cardiovascular Repair And Reconstruction Devices Market Trends

The presence of technologically advanced cryopreservation techniques, changing lifestyles, and increasing chronic diseases are identified as important aspects of the cardiovascular repair and reconstruction devices market to boost its growth in the coming years. Additionally, the rising occurrences of chronic cardiovascular disease are also likely to drive the market globally. Furthermore, the market is growing due to continued innovation as most cardiovascular repair and reconstruction device companies in the post-pandemic phase work with a sense of urgency and consumer interest.

Cardiovascular diseases are a group of heart ailments that mainly include coronary artery disease, congenital heart disease, and arrhythmias. These diseases contribute to the rising rate of death around the globe. Reconstruction devices and cardiovascular patches are used to clear arterial, vein blockages, and replace the aorta when blood vessel aneurysms develop. The advancements in the market to mitigate risk in such diseases is expected to provide numerous opportunities for expansion during the forecast period.

During the forecast period, the market is projected to drive innovation and development of minimally invasive products. However, in the coming years, cost-related difficulties are expected to limit the global expansion of cardiovascular repair and reconstruction devices.

Product Insights

As of 2016, the cardiovascular grafts segment held the maximum market share owing to an increase in the adoption of grafts in surgeries. Applications of these products in pediatric surgeries are increasing owing to a rise in the prevalence of CHDs, such as atrial septal defect, ventricular septal defect, and double-outlet ventricles, among others. Moreover, within this segment, endovascular stent grafts emerged as the largest sub-segment owing to an increase in their usage in vascular surgeries, especially for the treatment of thoracic and abdominal aortic aneurysms.

As of 2016, the heart valve repair segment held approximately 12% of the global market. Generally, the objective of heart valve surgeries is to cure heart diseases and extend life by restoring the function of the heart valve. Repairing the valve and retaining a person’s heart tissue is usually recommended. Some of the valve repair surgery devices are enCorSQ Mitral Valve Repair System by MiCardia Corporation and Edwards Sapien TAVR for aortic and mitral valve defects.

The cardiovascular patches segment is expected to be the fastest growing with a CAGR of 6.4% over the forecast period. Reduction in the adverse effects of technologically advanced xenogenicpericardial patches is among the key factors expected to drive the market. These devices are used in various applications, such as tissue repair procedures, vascular repair & reconstruction, and dural repair.

Regional Insights

As of 2016, North America dominated the global cardiovascular repair and reconstruction devices market. There is a high burden of cardiovascular diseases owing to the aging of the population and unhealthy lifestyle. High economic development and the presence of well-equipped research centers, hospitals, medical device manufacturers, and universities are some of the key factors boosting the development of new products and commercialization in this region. The presence of well-established reimbursement policies and sophisticated healthcare infrastructure are also expected to be among contributors for growth.

As of 2016, the U.S held over 40% of the total revenue share. The rate of occurrence of chronic conditions, such as arthritis, diabetes, cancer, and cardiovascular diseases is increasing. Some of the key drivers of this market are the availability of technologically advanced products in various fields, such as molecular chemistry, cell biology, & cardiovascular surgeries, and an increase in the prevalence of congenital heart diseases, such as ventricular septal defect & right ventricular outflow tract.

Asia Pacific is expected to witness the fastest growth over the forecast period. China, India, and other emerging economies in the region are at the forefront owing to their large population, aging population, high unmet healthcare needs, and changing lifestyle. Improvements in the healthcare infrastructure in the region is also contributing to the growth of the market. Moreover, the growing interest of global players in expanding to this region is also anticipated to contribute to market growth.

Key Companies & Market Share Insights

Some of the key players operating in this market are Medtronic; Bard Peripheral Vascular; Terumo Cardiovascular Systems Corporation; W. L. Gore & Associates, Inc.; Getinge AB; CryoLife, Inc.; Edwards Lifesciences Corporation; Baxter; and Admedus. The growing number of mergers and acquisitions by some of the key players, such as Terumo Cardiovascular and Medtronic, to gain market share is one of the crucial indicators of the existing competition. For instance, in 2014, Covidien, a company acquired by Medtronic, acquired the vascular devices product line of Reverse Medical Corporation for an unspecified merger amount. In 2017, Terumo Corporation, headquartered in Japan, acquired Bolton Medical, Inc. from its parent company to enhance its existing product portfolio in the U.S. as well as the global stent graft market.

Recent Developments

• In June 2022, Endonovo Therapeutics Inc. announced Letter of Intent to purchase specialty construction company. There has been a growth in the targeted company by USD 47 million at a CAGR of 106% in 2021. Therefore, it is expected that Endonovo will be able to enhance its performance and provide financial results in terms of its medical devices for operational treatment

• In June 2022, Getinge introduced Vac-a-Scope System which is a proprietary benchtop packing solution for preparing, storing endoscopes, and protecting instrument integrity from reprocessing to the procedure room. This system allows a storage facility so that endoscopes can be used in a spacious location to avoid contamination and provide necessary accessories for meeting customer requirements

Cardiovascular Repair And Reconstruction Devices Market Report Scope 

Global Cardiovascular Repair And Reconstruction Devices Market Segmentation

This report forecasts revenue growth at global, regional, & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global cardiovascular repair and reconstruction devices market report on the basis of product type and region:

• Product Outlook (Revenue, USD Million, 2014 - 2025)

  • Heart Valve Repair

  • Cardiovascular Grafts

    • Endovascular stent graft

    • Hemodialysis access graft

    • Peripheral vascular graft

  • Cardiovascular Patches

    • By Application

      • Cardiac repair patches

        • Atrial septal defect

        • Common atrium

        • Defects of the endocardial cushion

        • Ventricular septal defect

        • Tetralogy of Fallot

        • Suture bleeding

      • Vascular Repair Patches

        • Carotid endarterectomy

        • Anomalous connection of the pulmonary veins

        • Transportation of the great vessels

        • Reconstruction of the portal and superior mesenteric veins

        • Others

    • By Raw Material

      • Synthetic patches

      • Biological patches