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Cardiovascular And Soft Tissue Repair Patches Market Segments, Analysis, Overview, Outlook Report: 2024-2033
Cardiovascular And Soft Tissue Repair Patches Market Segments
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According to The Business Research Company's, The cardiovascular and soft tissue repair patches market size has grown rapidly in recent years. It will grow from $4.03 billion in 2023 to $4.51 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to aging population, rise in chronic diseases, awareness and early detection, healthcare infrastructure growth, and high demand for hernia repairs.
The cardiovascular and soft tissue repair patches market size is expected to see rapid growth in the next few years. It will grow to $6.75 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to minimally invasive procedures, enhanced diagnostic tools, increasing demand for personalized medicine, and increasing research and development. Major trends in the forecast period include technological innovations, advancements in surgical techniques, advancements in regenerative medicine, 3d printing, the use of data analytics and artificial intelligence (ai).
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Market Drivers and Trends:
The growing demand for patches in cardiac disease is expected to propel the growth of the cardiovascular and soft tissue repair patches market. Cardiac disease is a category of disorders related to the heart and blood vessels. The demand for patches for cardiac disease is increasing due to lifestyles and consumption of smoking and alcohol. For instance, according to the World Health Organization data 2021, an organization under the United Nations that focuses on worldwide public health, cardiovascular diseases (CVDs) are the leading cause of mortality worldwide, claiming an estimated 17.9 million lives a year. Furthermore, in the United States, heart disease is the leading cause of death for both sexes and members of the majority of racial and ethnic groups. Every 34 seconds, cardiovascular disease claims one life in the United States. In the United States, heart disease was the cause of 1 in 5 fatalities in 2020, taking the lives of almost 697,000 individuals. Therefore, the growing demand for patches of cardiac disease will drive the cardiovascular and soft tissue repair patches market in the upcoming years.
Technological advancements are a key trend gaining popularity in the cardiovascular and soft tissue repair patches market. Many companies operating in cardiovascular and soft tissue repair patches are developing new products or technologies for strengthening the demand for the cardiovascular and soft tissue repair patches market. For instance, in October 2022, Dozee, an India-based company that offers artificial intelligence and healthcare technology launched an AI-based ECG patch for remote cardiac monitoring. The ECG patch is designed to be small, flexible, light, and convenient to use, and the physician can remotely get alerts and view the live and continuous ECG of the patient. .
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Major Key Players of the Market:
B Braun, Baxter International Inc., CorMatrix Cardiovascular Inc., Cryolife Inc., Edwards Lifesciences Corporation, LeMaitre Vascular Inc., Anteris Technologies Limited, Abbott Laboratories, Terumo Medical Corporation, Integra LifeSciences Corporation, W. L. Gore & Associates Inc., Arthrex Inc., Johnson & Johnson, Stryker Corporation, LifeCell Corporation, Medtronic Inc., ACell Inc., Tissue Regenix Group Plc, Aroa Biosurgery Ltd., Zimmer Biomet, LifeNet Health Inc., Becton Dickinson and Company, Boston Scientific Corporation, Cook Medical, Endologix Inc., Getinge AB, Maquet Holding B.V. & Co. KG, Vascular Solutions Inc., AngioDynamics Inc., Merit Medical Systems Inc., Penumbra Inc., Glycar SA Pty Ltd., Biointegral Surgical Inc., Admedus Ltd., LabCor Corp., Wright Medical Technology, Smith & Nephew plc, C.R. Bard Inc., Organogenesis Inc.
Cardiovascular And Soft Tissue Repair Patches Market 2024 Key Insights:
• The cardiovascular and soft tissue repair patches market size is expected to see rapid growth in the next few years. It will grow to $6.75 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%.
• Cardiac Disease Epidemic Fuels Surge In Cardiovascular And Soft Tissue Repair Patch Market
• Technological Advancements Reshaping The Cardiovascular And Soft Tissue Repair Patches Market
• North America was the largest region in the cardiovascular and soft tissue repair patches market in 2023
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