Beating Heart Patches Is The Fastest Growing Segment Fueling The Growth Of Beating Heart Patch Market


https://www.coherentmarketinsights.com/market-insight/beating-heart-patch-market-5814
Beating Heart Patch Market


Market Overview:

Beating heart patches are bioengineered extracellular matrix patches that are used to repair damaged heart muscles due to myocardial infarction. They help restore cardiac functions and improve the viability of the heart muscle.

Market key trends:

One of the major trends driving the global beating heart patch market growth is the rising prevalence of cardiovascular diseases across the globe. According to World Health Organization (WHO), cardiovascular diseases accounted for approximately 17.9 million deaths in 2019, representing 32% of all global deaths. The increasing global burden of cardiovascular diseases has necessitated the need for innovative medical devices and therapies for treatment of heart conditions. This has propelled research and development of beating heart patches as an effective treatment option.

The global Beating Heart Patch Market Demand is estimated to be valued at US$ 223.6 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis:

The global beating heart patch market is segmented into application and end user. By application, the allograft segment dominated the market in 2022. Allografts are preferred over xenografts and synthetic patches due to their ability to regenerate native tissues. By end user, the hospitals segment accounted for the largest share of the beating heart patch market in 2022. The high volume of cardiovascular procedures performed in hospitals is a major factor driving the segment's growth.

Key Takeaways:

The global beating heart patch market size is expected to witness high growth, exhibiting a CAGR of 7.6% over the forecast period from 2023 to 2030, due to the increasing prevalence of cardiovascular diseases.

By region, North America dominated the global beating heart patch market in 2022 owing to high healthcare expenditure and established healthcare infrastructure in the region. Asia Pacific is projected to witness the fastest growth over the forecast period owing to rising medical tourism and economic development in countries such as China and India.

Key players operating in the beating heart patch market are Harvard Apparatus Regenerative Technology, Inc., CorMatrix Cardiovascular, Inc., Acell Inc., Cytograft Tissue Engineering, Inc., Biomatrica, Inc., Tepha, Inc., LifeNet Health, Inc., CollPlant Ltd., SynCardia Systems, LLC, Cardiovascular Systems, Inc., Biotronik SE & Co. KG, Admedus Ltd., C. R. Bard, Inc., W. L. Gore & Associates, Inc., and Xenogenics Corporation. Major players are focusing on new product development and geographical expansion to strengthen their market position.

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