Market Trends of Cardiovascular and Soft Tissue Repair Patches Industry
This section covers the major market trends shaping the Cardiovascular & Soft Tissue Repair Patches Market according to our research experts:
Soft Tissue Repair Segment is Estimated to Witness a Healthy Growth in Future.
Soft tissue repair is estimated to witness healthy growth in the future, attributed to the increasing prevalence of various types of hernias. A hernia is a disorder in which the intestine or fatty tissue protrudes through a weaker portion of the abdomen. Soft tissue repair patches help in treating hernia disorder. According to an article published by PubMed in April 2022, a study in Ethiopia showed that the overall prevalence of external hernia was high in the country. Old age, constipation, chronic cough, and lifting heavy objects were some major reasons behind external hernias. Furthermore, according to the article published by PubMed Central in August 2021, a cross-sectional study was performed on 500 participants in Saudi Arabia, which showed that the prevalence of abdominal hernia was 38.8 percent and the participants in 18-25 years had less prevalence of 21.2 percent.
Key developments by major players in the market are positively affecting the growth of the segment. For instance, in July 2021, BD (Becton, Dickinson and Company), a leading global medical technology company, announced that they had acquired Tepha, Inc., to drive new innovations in soft tissue repair and generation.
Therefore, the soft tissue repair segment is expected to witness significant growth over the forecast period due to the abovementioned factors.
North America is Dominating the Cardiovascular and Soft Tissues Repair Market
North America is expected to hold a significant market share in the global Cardiovascular and Soft Tissue Repair Patches Market due to the rising prevalence of cardiac diseases, the presence of a large number of pharmaceutical companies, growing research and development expenditure, and increasing incidences of hernia disorders. For instance, according to data from the Centers for Disease Control and Prevention in July 2022, heart disease is one of the leading causes of death in the United States. It is estimated that one person dies every 34 seconds in the United States. Among all the heart diseases coronary heart disease is the most common type of heart disease and about 20.1 million adults age 20 and older have coronary heart disease in the United States.
Key product launches, high concentration of market players, and manufacturers' presence in the United States are some of the factors driving the growth of the hair removal devices market in the country. For instance, in February 2020, Aroa Biosurgery, the Auckland-based privately held soft-tissue repair company, launched Myriad, a new product for soft tissue repair and reconstruction, in the United States market. These continuous product launches in the region are anticipated to drive the growth of the market in the country.
Therefore, owing to the aforesaid factors, the growth of the studied market is anticipated in the North American region.
