LOS ANGELES, April 18, 2019 (GLOBE NEWSWIRE) -- The global Cardiovascular and Soft Tissue Repair Patches Market is forecasted to grow at a stable CAGR around 8% during the forecast period and reach around US$ 6 billion by 2026.
According to the report named “Compressed Cardiovascular and Soft Tissue Repair Patches Market” - Global Industry Analysis, Growth, Share, Size, Trends and Forecast, 2019-2026”, Some of the factors that drive demand are the increasing application of these patches to medical and sport injuries and increased heart defects such as atrial septal defect and ventricular septal defects.
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One of the main drivers of the market is the increasing prevalence of cardiovascular diseases (CVDs). Cardiovascular disease accounted for almost 800,000 deaths in the United States in 2017, according to the American Heart Association. In addition, cardiac attacks in the country are substantially prevalent. Every year, almost 790,000 U.S. adults have heart attacks. The majority of CVD deaths followed by a heart attack and stroke are caused by coronary heart disease. Such diseases are expected to produce high prevalence for the market to create profitable growth opportunities.
Increasing Prevalence Of Hernia To Boost Market Growth
One of the key market drivers is also an increasing prevalence of hernia. Abdominal operation, heavy weight lifting, chronic coughing, constipation, ascites (abdominal fluid), and other conditions which increase pressure on the intra-abdominal region are major risk factors for herniation. In addition, nerve damage, tissue loss and genetic factors lead to muscle weakening. The residual embryological channel defects and the family history of the Congenital Hernia. In 2016, around 20 million inguinal hernia repair works were done annually throughout the world, according to an inquiry. There is therefore a chance that demand for these patches will increase significantly during the year after the wound recovery.
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In Shorts
In 2018, the most important market share in soft tissue repair is expected to be seen throughout the forecast period, due to the growing prevalence of herniated cardiac repair, due to high prevalence of congenital heart disease and improving ePTFE segment treatments worldwide, but biomathic treatment represented the highest share of raw materials in 2018.
Asia Pacific Is Expected To Exhibit the Highest Growth Followed By North America Cardiovascular and Soft Tissue Repair Patches Market
Geographically, the global Cardiovascular and Soft Tissue Repair Patches market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. In 2018, Asia Pacific is expected to emerge in the fastest CAGR over the forecast time due to the rising prevalence of Congenital Heart Disease and Hernia, the highest share of North America's income due a high frequency of diseases and easy access of treatment alternatives. In Asia Pacific, China is one of the leading markets. Increasing concerns about early detection and prevention of congenital cardiac disease have led to the increase of different treatment options, such as cardiac patch implantation. The data published by the WHO estimate the annual rate of cardiovascular events that represent profitable market opportunities to rise by 50% between 2010 and 2030.
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Key Participants
The Cardiovascular & Soft Tissue Repair Patches market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are CryoLife, Edwards Life Sciences; Baxter; Admedus; Bard Peripheral Vascular, Inc; Cartiovascular Terumo: W.L. Gore & Associates; and Others.
One of the crucial factors that indicate the current market competitiveness is the increasing number of fusions and acquisitions by certain key players, such as Terumo Cardiovascular and Medtronic.
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