Beating heart patches are tissue engineered bio-implants that can be used to replace damaged cardiac tissues and support heart functions. They are designed to help fuse with host tissues and form vasculature, allowing the natural healing of heart tissues. With rising cardiovascular diseases and increasing life expectancy globally, there is a growing need for advanced treatments for heart diseases.
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:
One of the key trends fueling the growth of the beating heart patch market is the surging geriatric population worldwide that is more susceptible to cardiovascular diseases. As per WHO, the global population aged 60 years and older is expected to nearly double from 12% to 22% between 2015 and 2050. Since aging is one of the major risk factors for cardiovascular diseases, the rising pool of geriatric population translates to higher incidence of heart diseases. This is expected to propel the demand for innovative treatment solutions like beating heart patches for repairing damaged cardiac tissues.
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Strength: The beating heart patch has the potential address the unmet clinical need of heart failure. It can be beneficial to patients suffering from heart disease.
Weakness: The technology is still in development stage and more clinical trials are needed to establish safety and efficacy. Manufacturing at commercial scale can be challenging.
Opportunity: Rising geriatric population vulnerable to heart disease indicates a huge market potential. Partnerships with manufacturers and clinicians can help accelerate development and market adoption.
Threats: Stringent regulatory requirements and long approval timelines pose threat. Established methods like transplantation present competition.
The global beating heart patch market is expected to witness high growth over the forecast period of 2023 to 2030. Regional analysis
The North America region currently dominates the beating heart patch market led by the growing prevalence of cardiovascular diseases and ongoing clinical research. The Asia Pacific region is expected to witness fastest growth owing to rapidly aging population, economic development and healthcare infrastructure expansion in counties like China and India.
Key players operating in the beating heart patch market are BIOCARDIA, INC., Athersys, Inc., CorMatrix Cardiovascular, Inc., BD, LifeNet Health, Inc., and Admedus Ltd. These players are focusing on technology advancement, clinical trials and collaborations to strengthen their market presence.
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it