New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- The global pericardial patches market size is projected to grow at a CAGR of over ~7% from 2023 to 2033. The market is expected to garner a revenue of USD 604 million by the end of 2033, up from a revenue of ~USD 312 million in the year 2022.Pericardial patches are used to repair and strengthen the pericardium, the thin layer of tissue that surrounds the heart. When a person suffers from a heart attack, the pericardium can be weakened, so a patch is used to provide additional support and protection. With the increasing number of heart transplant procedures and cardiac arrest cases around the world, the demand for pericardial patches has also risen, contributing to the growth of the market.
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Each year, approximately 4500 cardiac transplants are performed around the globe, and there are an estimated 48,000 candidates for cardiac transplantation. Moreover, the increasing demand for pericardial patches for a variety of medical procedures, such as cardiovascular and thoracic surgeries, as well as the growing awareness about the advantages of using these patches to reduce the risk of post-operative complications are also expected to drive the growth of the market.
Pericardial Patches Market: Key Takeaways
- Market in in North America to propel highest growth.
- The segment of xenograft is expected to garner the highest growth rates
- Market in Asia Pacific to grow at the fastest pace
Increase in the Incidence of Degenerative Diseases and Technological Advancements in Patch Manufacturing to Boost Market Growth
Soft tissue patches are becoming increasingly necessary as degenerative disorders such as osteoarthritis, osteoporosis, and Alzheimer's disease are on the rise. These patches can be used to reduce symptoms and improve quality of life in individuals suffering from these disorders. Degenerative disorders are diseases in which tissues or organs rapidly degenerate in structure or function. Globally, studies estimate that the incidence rate of degenerative diseases is 10–15 per 100,000, with 2% of those being over 65. Around 48 million people worldwide suffer from these diseases, and by 2060 that number is expected to reach 150 million. Degenerative disorders damage the soft tissues and cartilage, which are replaced using soft tissue patches, providing cushioning and support. Moreover, advancements in pericardial patch manufacturing and sterilization have made it easier and safer for surgeons to use these patches. This has further increased the demand for pericardial patches and is driving the growth of pericardial patches market. Moreover, advancements in manufacturing and sterilization have allowed for the production of patches that are easier to use with minimal risk of infection. Additionally, improvements in strength and durability have made the patches better suited to medical procedures. It was observed that a total of approximately 30,000 surgeries with allograft tissue are performed annually in the clinic, including meniscal transplants and anterior cruciate ligament reconstructions. Hence, these factors have contributed to the increased demand for pericardial patches and the growth of the market.
Pericardial Patches Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increase in Number of Sports Related Injuries to Drive the Growth in the North American Region
The pericardial patches market in the North American region is estimated to garner the largest revenue by the end of 2033 owing to the increase in the number of anterior cruciate ligament (ACL) injuries. The North American region has a large number of well-established healthcare providers and high-income individuals who can afford the cost of ACL repair surgeries. For instance, each year, about 150,000 to 200,000 Americans suffer ACL injuries or tears, making them one of the most common knee injuries. Pericardial patches are used to provide structural integrity to the knee joint and prevent further damage to the ACL. It also helps to reduce pain and swelling, and encourages the healing process. Additionally, the presence of advanced technology and skilled medical professionals, as well as government support for the healthcare sector, is expected to drive the growth of the pericardial patches market in the region. Moreover, regional medical manufacturers are heavily investing in R&D in order to develop novel and advanced pericardial patches. Furthermore, they conduct promotional activities, such as campaigns and conferences, to raise awareness about the benefits of pericardial patches, which are expected to drive regional market growth.
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Rising Geriatric Population to Drive the Growth in the Asia Pacific Region
The pericardial patches market in the Asia Pacific region is estimated to garner he highest CAGR by the end of 2033 owing to the increasing number of eye surgeries as a result of the high prevalence of eye diseases along with the rising elderly population in the region. According to the WHO, the ageing populations in China are among the fastest growing in the world. Longer life expectancies and declining fertility rates are predicted to increase the number of people in China over 60 years old to 28% by 2040. As the geriatric population increases, there is an increased risk of age-related eye diseases such as cataracts, glaucoma, and macular degeneration. Many of these diseases require surgical treatment, and the most common type of surgery is a cataract operation. During such operations, pericardial patches are used to help support the structure of the eye and prevent complications. Therefore, the increasing geriatric population is creating an increased demand for pericardial patches in the region. Moreover, the improved healthcare infrastructure, growing number of hospitals and surgical centers, and rapid advances in tissue engineering technology in the region is also expected to contribute to the regional market growth.
Pericardial Patches, Segmentation by Application
- Cardiovascular Surgery
- Dental Surgery
- Ophthalmology
- Abdominal Surgery
- Others
The cardiovascular surgery segment in pericardial patches market is anticipated to hold the largest revenue by the end of 2033 owing to the growth of cardiovascular disease cases worldwide, which is resulting in an increase in the number of cardiovascular surgeries performed in hospitals. One of the most common heart surgeries is coronary artery bypass graft (CABG). There were approximately 200,000 CABG procedures performed in the United States in 2018. Valve replacement and repair is the second most common heart surgery. In 2018, about 100,000 valve surgeries were performed in the United States. In addition, the advances in medical science and technology have enabled the development of new materials and methods of tissue engineering, which can be used to create artificial tissues and organs that can be used to replace or repair damaged tissues. These advances have allowed for the development of treatments for a wide range of cardiovascular diseases, such as coronary artery disease, heart valve disease, and arrhythmias. Cardiac patches are pieces of specially designed tissue that are inserted into the heart to help it beat properly and to improve its efficiency. The patch reduces the risk of sudden cardiac death, improves the heart's function, and regulates its electrical activity. As a result, the segment is expected to grow over the forecast period owing to the increasing use of pericardial patches in CVD surgeries.
Pericardial Patches, Segmentation by Product Type
- Autologous
- Xenograft
- Synthetic
The xenograft segment is anticipated to hold the largest revenue by the end of 2033 backed by the rise in vascular reconstruction surgeries such as endovascular aortic repair (EVAR), abdominal aortic aneurysm (AAA), and thoracic endovascular aortic repair (TEVAR). An abdominal aortic aneurysm (AAA) affects nearly 200,000 people in the United States every year, and roughly 14,000 Americans die from ruptured AAAs. Bovine xenograft pericardial pacemakers are made from bovine pericardial tissue, which is known to have superior strength, durability and long-term stability compared to other materials usually used in pacemakers. This makes them an ideal choice for repairing a variety of surgical procedures. Moreover, a xenograft patch is a type of tissue that is biocompatible, highly durable, and easy to work with. It has a low risk of infection and can be tailored to the needs of the patient. As well as being cost-effective, it is a viable option for primary repair of large esophageal perforations, which is expected to boost segment growth.
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Pericardial Patches, Segmentation by Source
- Porcine Patch
- Bovine Patch
- Equine Patch
Pericardial Patches, Segmentation by End User
- Hospitals
- Ambulatory Care Centers
- Diagnostic Centers
- Others
Few of the well-known industry leaders in the pericardial patches market that are profiled by Research Nester are Edwards Lifesciences Corporation, Visionary Medtech Solutions, Abbott Laboratories, CryoLife, Inc., LeMaitre Vascular, Inc., Neovasc, Inc., FOC Medical, W. L. Gore & Associates, Inc., Baxter International Inc., Collagen Solutions Plc, and others.
Recent Development in the Pericardial Patches Market
- As part of the PASCAL Precision transcatheter valve repair system developed by Edwards Lifesciences Corporation, CE Mark has been obtained for the treatment of mitral and tricuspid regurgitation. Through a single delivery system, clinicians can provide positive outcomes for patients with both MR and TR.
- Abbott Laboratories has developed the HEARTMATE 3 heart pump that extends the life of patients with limited therapy options beyond five years. It is powered by a rechargeable battery and is expected to extend the life of patients.
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