Pericardial Patches Market is Expected to Grow to a Value of US$ 604 Mn by 2031

Overview of Pericardial Patches Market

Pericardial patches, which are used in various surgeries and disorders, reduce the rate of infection, control bleeding, increase biocompatibility, close defects, and offer durability. Furthermore, no calcification or shrinkage is observed with the usage of pericardial patches. Bovine pericardial patches, bovine pericardial valves, and other biological tissues have been used in cardiac surgeries since the past 50 years.

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Rise in prevalence of diseases related to surgical procedures is projected to drive the global pericardial patches market during the forecast period. Cardiac patches developed with advanced technologies provide a better treatment option for patients suffering from a heart attack. Advancements in fabrication technologies have led to the development of cardiac patches with excellent therapeutic performance and promising potential in promoting cardiac functions.

Pericardial Patches Market Outlook 2031

The global pericardial patches market was valued at US$ 312.6 Mn in 2021

The global market is projected to expand at a CAGR of 6.9% from 2022 to 2031

The global pericardial patches market is anticipated to reach more than US$ 604 Mn by the end of 2031

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Advancements in Manufacturing to Drive Global Pericardial Patches Market

Bovine pericardial patches are used in surgeries such as cardiovascular, eye surgery, dental, and hernia. Various types of patches are available in the market as per surgical requirements to prevent re-infection, close defects, and also for vascular reconstruction. Advancements in autologous, xenograft and synthetic patches have improved the durability and strength of pericardial patches. This is anticipated to propel the global market. Pericardial patches use EnCap AC technology in combination with durable and powerful bovine pericardium to provide improved biocompatibility and reliable treatment for various heart diseases. Advanced heart patches provide treatment options for patients suffering from a heart attack. According to an independent study, about 2,000 heart transplants are performed each year in the U.S. Thus, lucrative opportunities exist for stakeholders operating in the pericardial patches market.

Long Term Stability and Durability to Boost Demand for Xenograft Pericardial Patches

In terms of product type, the global pericardial patches market has been classified into autologous, xenograft, and synthetic patches. The xenograft segment accounted for major share of the global market in 2021. The segment is anticipated to grow at a fast-paced CAGR from 2022 to 2031. Bovine xenograft pericardial patches are increasingly used in various surgical procedures due to their long-term stability and durability. Rise in demand for bovine xenograft pericardial patches can be ascribed to the low risk of restenosis, compliance near that of the host, and comfortable handling.

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Rise in Application of Pericardial Patches in Cardiovascular Surgery to Boost Global Market

The cardiovascular surgery segment held major share of the global market in terms of revenue in 2021. This trend is likely to continue during the forecast period. Thousands of surgical procedures are performed every day to replace, repair, or regenerate tissues that have been damaged due to disease, trauma, or injury. Cardiovascular disease (CVD) is one of the leading causes of mortality and morbidity worldwide. Cardiac patches are among the primary therapeutic solutions for surgical treatments. Pericardial patches are primarily used for cardiovascular applications such as reconstruction of the aorta and pulmonary vessels, closure of interatrial defects, closure of interventricular defects, and reconstruction of atrioventricular valves.

Easy Availability of Pericardial Patches in Hospitals to Augment Hospitals Segment

Based on end-user, the global pericardial patches market has been bifurcated into hospitals and ambulatory surgical centers. The hospitals segment led the global market in terms of revenue in 2021. This trend is projected to continue during the forecast period. Availability of most of the pericardial patches in hospitals is anticipated to drive the segment during the forecast period. Increase in number of people suffering from congenital disorders and rise in per capita income is also expected to propel the segment.

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Regional Outlook of Global Pericardial Patches Market

In terms of region, the global pericardial patches market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for large share of the global market in 2021. This can be attributed to early adoption of technologically advanced products, increase in incidence of major surgical procedures, new product launches, and presence of key players in the region.

Asia Pacific is the fastest growing market for pericardial patches. The market in the region is anticipated to grow at a fast-paced CAGR from 2022 to 2031. Presence of developing countries with commercial hubs, expansion of biotech & pharma companies, increase in geriatric population in countries such as China and Japan, improvement in health care infrastructure, presence of a large number of soft tissue allograft manufacturers, and surge in investments are driving the market in Asia Pacific.

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Analysis of Key Players in Global Pericardial Patches Market

The global pericardial patches market is fragmented, with the presence of a large number of key players. Leading players operating in the global market include Edwards Lifesciences Corporation, Visionary Medtech Solutions, Abbott Laboratories, CryoLife, Inc., LeMaitre Vascular, Inc., Neovasc, Inc., FOC Medical, W. L. Gore & Associates, Inc., and Baxter Healthcare. Expansion of product portfolios and mergers and acquisitions are major strategies adopted by key players.

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