December 14, 2024

The Expanding Beating Heart Patch Market is Driven by the Growing Incidence of Congenital Heart Diseases

Beating heart patches are used in surgical procedures for treating congenital heart defects or structural problems present since birth. These patches are made from cultured heart cells that can contract and grow with the patient. They are used in repairing damaged heart tissues or replacing diseased cardiac valves. Beating heart patches mimic the contractions of natural cardiac muscles and integrate well with the surrounding heart tissues. They help improve blood circulation and the pumping ability of the heart post-surgery. With rising birth defects causing congenital heart diseases, the demand for advanced treatment options like beating heart patches is increasing.

 The global Beating Heart Patch Market is estimated to be valued at US$ 223.6 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The key trend gaining traction in the beating heart patch market is the ongoing research for developing patches using bio-engineered materials. Researchers are exploring the use of native extracellular matrix proteins and scaffolds made from decellularized heart tissues that can support cardiac cell growth. Such patches are expected to better mimic the functions of natural cardiac muscles. Another notable trend is the increased focus on pediatric cardiac surgery. To address the needs of younger patients requiring recurrent repairs, companies are developing thin, suturable heart patches tailored for children. 3D printing technology is also being investigated for fabricating customized cardiac patches based on individual patient’s heart anatomy. These innovations are expected to expand surgical applications and clinical adoption of beating heart patches over the forecast period.
Porter’s Analysis

Threat of new entrants: Low, as this market requires heavy R&D investment and clinical trials. Regulatory approvals also pose a barrier.

Bargaining power of buyers: Moderate, as there are few alternative options for beating heart patch available. However, pricing pressure exists from larger players.

Bargaining power of suppliers: Low to moderate, as raw material suppliers exist, but proprietary biomaterial development requires specific expertise.

Threat of new substitutes: Moderate, as tissue engineering and regenerative medicine is an evolving area with new alternatives being developed.

Competitive rivalry: High, as key players compete on technology, product quality and market reach. Pricing wars can be expected as market matures.

Key Takeaways
The global Beating Heart Patch Market is expected to witness high growth over the forecast period of 2023 to 2030. North America is expected to dominate the market owing to increasing adoption, approvals and funding for advanced cardiac therapies. The Asia Pacific region is anticipated to grow at the fastest pace during the forecast period due to rising incidences of cardiovascular diseases, growing medical tourism and increasing healthcare investments.

Regional analysis comprises – North America and Europe hold the majority share currently due to advanced healthcare infrastructure and high diagnostic rates. Asia Pacific market is projected to grow at the fastest CAGR over the forecast period.

Key players operating in the Beating Heart Patch Market are BIOCARDIA, INC., Athersys, Inc., CorMatrix Cardiovascular, Inc., BD, LifeNet Health, Inc., and Admedus Ltd. BIOCARDIA, INC. and CorMatrix Cardiovascular, Inc. have wide portfolio of beating heart patch products. BD and LifeNet Health, Inc. provide biomaterials used in beating heart patches. Admedus Ltd. recently received approval for bioengineered abdominal wall repair patch, indicating scope to enter this market.

*Note:

1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it

Ravina
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Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. 

Ravina Pandya

Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. 

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