The global bioprosthetics market size was valued at USD 4,122.6 Million in 2021 and is estimated to surpass USD 8,794.8 Million by the year 2030, registering a CAGR of 9.80%
The increasing prevalence of rheumatoid heart disease, coronary and peripheral artery diseases, and other cardiovascular diseases have led to the increasing demand for long-term treatment and relief, factors that are anticipated to drive bioprosthetics market growth. Additionally, the expanding geriatric demographic is more susceptibility to develop the forecast period. Degenerative cardiac diseases are further estimated to augment market growth during the forecast period.
Trends of technological advancements have made possible the development of hybrid tissue-engineered bioprostheses, in which non-biodegradable, cultured tissue scaffolds are used, which are attached to alloys of nickel and titanium. These serve as extremely durable alternatives to conventional, tissue-engineered prosthetics. Moreover, these innovative products are expected to eventually replace purely synthetic mechanical heart valves that are infamous for causing high thrombogenicity and necessitate the administration of anticoagulants.
Request a Sample@ https://www.qyresearchmedical.com/sample/119169
Bioprosthetics effectively reduce morbidity associated with cardiac valve disorders, thus boosting the demand in the bioprosthetics market during the forecast period. Additionally, the advanced tissue treatment processes, further enhance the strength of the prostheses and makes long-term medication needless, factors which are anticipated to help the growth of this vertical during the forecast period.
Moreover, faster recovery rates and relatively improved patient safety profile are attributes of hybrid constructs. Optimized tissue preservation techniques lead to better patient outcomes, which are estimated to increase patient and physician preference for these implantable bioprostheses, which will, in turn, increase revenue share for the market in the future. Rising numbers of diseased heart valve cases, as well as aortic and mitral valve replacements, will contribute towards the overall demand for prostheses.
Product Type Outlook:
On the basis of product types, the market is segmented as allograft, xenograft, porcine, and bovine. The xenograft segment held a 70% revenue share in 2019 as a result of long-term stability, higher survival rates, easily available raw materials, low manufacturing costs, and easy implantation procedures.
The porcine-based devices category is expected to witness growth at a significant CAGR over the forecast period. The fast growth can be attributed to the numerous clinical studies, such as those conducted by the American Heart Association, directed toward improving the efficacy of the porcine bioprosthetics and reducing the typical adverse effects.
In 2019, the cardiovascular segment held the largest share of over 87% in the application segment of the bioprosthetics market. Rising patient pool suffering from cardiovascular diseases and requiring valve replacement procedures will drive the segment’s growth. Moreover, the popularity of minimally invasive techniques along with technological advancements in the second generation bioprosthetics that reduce the number of structural failure cases is estimated to augment demand for bio-implants over the forecast period. For instance, bioprosthetic heart valves have reduced demand for open-heart surgeries, a factor that is crucial to the dominant share of the segment.
In 2019, Europe captured a considerable share of the bioprosthetics industry. Established reimbursement models, presence of key industry players, and the large patient volume are responsible for the large share. Moreover, stringent regulatory policies increasingly ensuring patient safety is anticipated to drive the demand for these devices in this region.
The Asia Pacific bioprosthetics market is anticipated to register the fastest CAGR over the forecast period due to increasing patient awareness levels and the rapidly improving healthcare infrastructure. The growth is also attributable to the high R&D in emerging economies. The growing number of collaborations between the global players in the sector and the government is gradually improving the overall access to healthcare facilities, which in turn is anticipated to result in high growth potential throughout the forecast period.
- During the forecast year 2022, Xenograft is the leading product segment of the global Bioprosthetics. Furthermore, the Porcine segment itself is expected to register the highest CAGR among Bioprosthetics.
- The Cardiovascular segment was valued at 2.9 billion in 2022 and is expected to grow at a CAGR of 10.6% during the forecast period. According to the American College of Cardiology, cardiovascular disease (CVD) remains the leading cause of death in the United States, responsible for 840,768 deaths (635,260 cardiac) in 2016. From 2006 to 2016.
- The Plastic Surgery and wound healing segment is expected to register a CAGR of 9% during 2020-2030.
- Asia Pacific regional segment of the Bioprosthetics market is expected to remain a growing segment during 2020-2030, at a CAGR of 11.4%, owing to the untapped market potential in developing nations such as China & India.
- Europe is expected to hold the largest market share of almost 34.8%. Due to high standards of living and highly evolved and advanced field of medical sciences in that region. Furthermore, due to the extensive research funding scenario, the Bioprosthetics market is expected to flourish in this region during the forecast period.
The global bioprosthetic market study postulates constructive intuition globally which includes the companies who are the key players in global bioprosthetic market, such as Sorin Group, CryoLife, Inc., Medtronic Plc, Braile Biomedica, Ethicon, Inc., Life Cell Corporation, Organogenesis, Inc., Labcor Laboratories Ltd., Maquet Metinge Group, and JenaValve Technology GmbH.
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2021 to 2030. For the purpose of this study,have segmented the Bioprosthetic market on the basis of type, application, and region:
Type (Revenue, USD Million, 2022- 2030)
Application (Revenue, USD Million, 2022- 2030)
- Cardiovascular Valves
- Transcatheter heart valves.
- Plastic surgery & wound healing
Regional Outlook (Revenue in USD Million; 2022- 2030)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
Buy quantitative research Report at discounted price – USD 1500 https://www.qyresearchmedical.com/report/checkout/119169/1500
You can place an order or ask any questions, please feel free to contact [email protected] | +1 9197 992 333
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover North America, Europe, Latin America, Middle East and Africa, Asia- Pacific.
For Latest Update Follow Us:
URL – http://www.qyresearchmedical.com/