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 Details of Report @
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
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View Research, Inc. is a U.S. based market research and consulting company,
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company provides syndicated research reports, customized research reports, and
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