Global Cardiovascular and Soft Tissue Repair Patch Market is forecast to reach USD 7,610.5 billion by 2028, growing at a CAGR of 9.3% over the projected period (2020-2028), according to a new report by Quince Market Insights

Pune, India, July 20, 2020 (GLOBE NEWSWIRE) -- The global Cardiovascular and Soft Tissue Repair Patch Market is forecast to reach USD 7,610.5 billion by 2028, growing at a CAGR of 9.3% over the projected period (2020-2028), according to a new report by Quince Market Insights. This growth is attributed to rising prevalence of congenital heart disorders such as atrial septal defect & ventricular septal defect and increasing technological advancements & R&D expenditure. Increasing prevalence of congenital heart diseases such as atrial septal defect and ventricular septal defect and technological advancements are the key driving factors for this market. Technological advancements have an impact on clinical evaluation, product design, new product development, and raw material fabrication.

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The patches are used in dural and vascular repairs and reconstructions and tissue repair procedures. Increasing prevalence of hernias such as congenital diaphragmatic hernias, inguinal hernia, and others are expected to positively impact the market growth. Repair of inguinal hernias is one of the most commonly performed general surgeries. As per International Surgery Journal, in 2016, the rate of inguinal hernia repair surgeries in the U.S. was estimated at 28 per 100,000 people.

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.

Government initiatives have positively impacted the growth of the Cardiovascular and Soft Tissue Repair Patch market due to increasing cardiac treatments. For instance, the development of long lasting regenerative cardiac repair patch the Osaka Medical College collaborated with Teijin Limited and Fukui Warp Knitting Co. Ltd.

Impact of the COVID-19 on the global Cardiovascular and Soft Tissue Repair Patch Market

As the COVID-19 crisis grows, a sequence of both positive and negative shocks will arise over a few months, as producers and their vendors adapt to changing demands of customers. Manufacturers are rapidly changing their practices and purchasing priorities to meet the demand of a pandemic that has reduced the need for Cardiovascular and Soft Tissue Repair Patch.

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ePTFE Segment to Benefit from Demand for Manufacturing Medical Devices

In raw material segment, ePTFE accounted for the largest share of the global Cardiovascular and Soft Tissue Repair Patch market, registering growth of 10.2% CAGR over the forecast period. ePTFE accounted for 62.8%, the largest share of the global cardiovascular and soft tissue repair patch market, by raw material, in 2019. ePTFE finds extensive usage in development of medical accessories such as transducer protectors, wound-care materials, face masks, ostomy bags, urine bags, drainage bags, medical device enclosures.

Treatment for Hernias to Propel the Demand for Soft Tissue Repair

Soft Tissue Repair segment is poised to grow at a CAGR of 9.7% during the forecast period. The segment accounted for 35.1%, the largest share of the global Cardiovascular and Soft Tissue Repair Patch. The growth is on account of rising prevalence of various types of hernias such as umbilical hernia, inguinal hernia, ventral hernias, and others. The Application segment of the global market is segmented into cardiac repair, soft tissue repair, vascular repair & reconstruction, pericardial repair, and dural repair.

Increasing Prevalence of Heart Conditions to Propel the Growth of North America Market

North America is poised to grow at a CAGR of 8.1% during the forecast period. The region accounted for the largest share with 34.0% of the global Cardiovascular and Soft Tissue Repair Patch market, in 2019. The key factors driving market growth in the region are the presence of developed health-care infrastructure, the presence of key players and a large number of research activities. In addition, the increasing prevalence of cardiac diseases due to sedentary lifestyle, consumption of junk foods, alcohol, tobacco and substance abuse are some of the key factors that strengthen regional growth positively.

Terumo Launched New Product to Offer Cardiovascular Surgical Repair Solution

• In February 2020, Terumo Launched New Surgical Sealant AQUABRID in EMEA Market. To seal (such as staples, sutures, patches, and electrocautery) related to aorta surgery AQUABRID is indicated to be for use as an adjunct for standard methods of cardiovascular surgical repair.
• In January 2020, CorMatrix announced the first minimally invasive robotic implant of Cor PATCH.
• In December 2019, CryoLife entered into an agreement with Misonix. For CryoLife's NeoPatch product the later will have special US commercialization rights to treat a broad range of indications outside of vascular and cardiac surgery.

Key participants include major companies operating in the market, which are Admedus, LeMaitre Vascular Inc., Baxter, Cryolife, Inc., CorMatrix, Inc, Abbott (St Jude Medical), B. Braun Melsungen AG, Terumo Medical Corporation, Integra LifeSciences Corporation, and Glycar SA Pty Ltd., and others.

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Browse key industry insights spread across 179 pages with 148 market data tables and 120 figures & charts from the report, “Cardiovascular and Soft Tissue Repair Patch Market, By Raw Material (ePTFE and Biomaterial and Tissue Engineered Material), By Application (Cardiac Repair, Soft Tissue Repair, Vascular Repair & Reconstruction, Pericardial Repair), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) – Market Size & Forecasting To 2028’ in depth analysis along with the table of contents (ToC).

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