Bioprosthetics Market Is Expected To Reach $6.41 Billion By 2024: Grand View Research, Inc.
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.
Browse full research report on Global Bioprosthetics Market: http://www.grandviewresearch.com/industry-analysis/bioprosthetics-market
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
Browse more reports of this category by Grand View
Research:
http://www.grandviewresearch.com/industry/medical-devices
http://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
- Porcine
- 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
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia
Pacific
- Japan
- China
- India
- Latin
America
- Mexico
- Brazil
- MEA
- South
Africa
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information:
www.grandviewresearch.com
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