The global bioprosthetics market is expected to reach USD 6.41 billion
by 2024, according to a new report by Grand View Research, Inc. The
unprecedented upward shift in the lifestyle-associated habits leading to the
high prevalence of cardiovascular diseases coupled with the increasing
geriatric population base,which is highly susceptible to developing cardiac
impairments and tissue damage,are presumed to impel the demand for the
bioprosthetics market during the forecast period.
Lower biocompatibility, aesthetics, and strength exhibited by the
synthetic material-based prosthetics indicate the indisputable requirement for
incorporating bioprosthetics; consequentially, the increasing need for the
tissue-engineered autologous, allogenic or xenograft products is anticipated to
present the market with lucrative growth opportunities.
The growth in the demand for bioprostheses is attributed mainly to
technological advancements comprising trans catheter valve fabrication
technology, the construction of which involves a multidisciplinary approach,
wherein wide-ranging technologies borrowed from varied devices including
balloon angioplasty and coronary stents as well as medical disciplines, such as
cardiac surgery and interventional cardiology, are merged to introduce a
revolutionary quantum leap in the transcatheter valve replacement procedures.
Moreover, a combination of the non-invasive imaging techniques, such as, echo
cardiography angiography, MRI, and CT, are increasingly being employed, which
allows the surgeons to visualize both the device and the anatomy of the patient
thus eliminating the need to conduct an open heart surgery.
Full research report on bioprosthetics market analysis:
Further key findings from the study suggest:
·
The allograft segment is expected to
exhibit growth at a significant CAGR of over 10.0% during the forecast period.
This is a consequence of the following associated advantages such as reduced
surgical time, smaller incisions, greater physiological acceptability,
availability of larger grafts, and a safer alternative to procedures that
employ synthetic grafts as they pose a high risk of complications under
anesthesia
·
The plastic surgery and wound healing
segment is anticipated to witness an exponential CAGR of over 11.0% in the
application segment over the forecast period. This substantial share can be
attributed to the increasing number of soft tissue repair procedures, such as
in hernia and abdominal wall reconstruction
·
Additionally, as per a research
published by the NCBI, the increase in case complexities drive the need to
apply a multidisciplinary approach in performing the above-mentioned
procedures, which augments the use of these bioprosthetics meshes to decrease
the morbidity associated with chronic impairments
·
In 2015, Europe dominated the overall
bioprosthetics market at over 40.0%. Moreover, the subsequent changes in the
demographic trends, such as the frequent product approvals, increasing
geriatric population base, lifestyle-associated changes, and the high awareness
levels pertaining to the availability of bioprosthetics solutions are
anticipated to drive the market growth in this region
·
For instance, In April 2016, St. Jude
Medical, Inc. announced the European launch of Trifecta Surgical Valve to
provide enhanced alternatives to patients requiring aortic valve replacements.
This launch resulted in the expansion of the existing product portfolio of St.
Jude Medical, Inc. in Europe
·
Some leading players in this industry
include Edwards Lifesciences Corporation, St.Jude Medical, Inc., Sorin Group,
CryoLife, Inc., Braile Biomedica, Inc., and Medtronic Plc; these players are
increasingly involved in adopting collaborative strategies and launching
frequent product approvals to facilitate business expansion
·
For instance, in March 2016, Edwards
Lifesciences Corporation received an approval for the SAPIEN 3 Valve in Japan
for the treatment of patients suffering from aortic stenosis. Additionally, the
rising involvement of the players in this vertical toward developing and
enhancing the supply of bioprosthetics through strategic alliances is likely to
provide the market with a high potential growth platform in the future
View more reports
of this category by Grand View Research at: https://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the bioprosthetics market on the basis
of type, application,and region:
Global bioprosthetics
type outlook (Revenue, USD Million, 2013 - 2024)
·
Allograft
·
Xenograft
o Porcine
o Bovine
Global bioprosthetics
application outlook (Revenue, USD Million, 2013 - 2024)
·
Cardiovascular
·
Plastic surgery & wound healing
Bioprosthetics
regional outlook (Revenue, USD Million, 2013 - 2024)
·
North America
o U.S.
o Canada
·
Europe
o UK
o Germany
·
Asia Pacific
o Japan
o China
o India
·
Latin America
o Mexico
o Brazil
·
MEA
o South Africa
View
Press Release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-bioprosthetics-market
About
Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
