Heart diseases are the leading cause of death in the U.S. closely followed by heart stroke. An estimated 85.6 million people in the U.S. are living with cardiovascular diseases such as high blood pressure, chest pain, heart attack, and stroke. These statistics are highly relevant as the congenital heart defects are identified as the leading cause of infant deaths across the globe. If these congenital defects are not treated or detected at an early age, the patients develop more severe complications in the later stages of life.
In the U.S. nearly 1% or about 40,000 births per year are expected to witness some form of congenital heart defects. Furthermore, nearly 14-15% of CHD cases are reported due to various genetic conditions such as Williams, Noonan, Down, DiGeorge, and Alagille syndromes. The impact of these birth diseases is felt in multiple ways as nearly 20%–30% of people suffering with CHD also have other developmental or cognitive complications.
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Increasing use of patches for hernia and soft tissue repairs is also a key driver for ePTFE and bovine patches. There are different types of hernias such as incisional hernias, femoral hernia, umbilical, paraumbilical and others. Key risk factors for hernia are heavy weight lifting, abdominal surgery, chronic cough, ascites (fluid in abdomen) constipation, and other conditions, which lead to increased pressure on the intra-abdominal region.
Furthermore, congenital diaphragmatic hernia is one of the major reasons for child mortality. In the U.S., every 1 in 2,500 newborn children is diagnosed with CDH and the child survival rate is nearly 50%. Furthermore, the recurrence of a hernia is quite possible after treatment. The inguinal hernia has nearly 2% recurrence rate and incisional hernia has nearly 10-20% recurrence rate. These conditions are expected to significantly propel market growth in the next seven years.
Technology has been a key enabler for market growth and expansion. Technological advancements have multidimensional impact on new product development, product design, raw material sourcing, raw material fabrication, clinical evaluation, preservation solutions, and preservation techniques. The use of calcification mitigant reduces the buildup of calcium, immunogenic factors, phosphate, and other agents.
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ePTFE accounted for maximum market share in 2014. The ePTFE based patches/pledgets/meshes are widely used owing to their structural integrity, and biocompatibility. However, the biomaterial and tissue engineering segment is expected to witness the fastest growth over the forecast period. The use of bovine pericardium is gaining popularity as it contains high amounts of structural protein and it provides good elasticity. Furthermore, anti-calcification technology used in the bovine pericardium patches is expected to boost usage rates in the next seven years.
Further key findings from the study suggest:
• Asia Pacific dominated the overall market in terms of revenue share in 2014, at over 59%. Key factors attributing to its large share include large population base prone to various cardiovascular and abdominal diseases which require surgical procedures. Furthermore, constantly improving healthcare infrastructure coupled with high penetration of these patches in economies such as Japan, China, India and Australia are expected to boost market growth.
• North America is expected to be one of the fastest growing regional markets over the forecast period. Presence of developed healthcare infrastructure and high awareness levels pertaining to the availability of novel products is expected to boost usage rates of cardiovascular and soft tissue repair patches over the forecast period.
• Key players operating in the market include Cryolife, Edwards Life Sciences, Bard Peripheral Vascular Inc, Baxter, and W.L.Gore & Associates The emerging players in this market are Admedus, Neovasc, Southernlight Biomaterials and others. Technological advancements are expected to enhance the launch of new products and enhance the market competition.
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