The Global Bioprosthetics Market size is estimated to be USD 3.67 billion in 2019 and is predicted to reach USD 10.35 billion by 2030 with a CAGR 9.9% of from 2020-2030. Bioprosthesis is a process of implanting a device/grafts/inserts that is of natural origin, into a human. These non-synthetic implants are called as bioprosthetics and are made from human or animal resource which are then used for medical implantations. Use of bioprosthetics has increased in past few years based on its basic characteristic of degrading until its complete elimination in the host body. Gradual degradation of bioprosthetics not only repairs or heals the damaged area but also contributes in regeneration of new tissues that promotes formation of new blood vessels.
As the compatibility issues with synthetic or mechanical implants are increasing at greater pace, industry has shifted towards adopting bioprosthetics as a replacement alternative. Based on its advantageous characteristics, bioprosthetics are largely used in the field of cardiology. However, studies are being conducted to prove its advantages in other sectors as well. Researchers are focusing on developing bioprosthetics that can maintain the natural structure of the tissue and reduce the possibility for calcification of the implant tissue. Moreover, advancements in diagnostic imaging techniques also play a vital role in development and implantation of bioprosthetics. Non-invasive imaging techniques such as MRI, CT scans, echo cardiography angiography are being utilized by the surgeons to visualize the anatomy of the patient and appropriately size the bioprosthetics. This also helps in deciding the type of surgery to the conducted in order to avoid open heart surgery. These and many such advancements are expected to reduce the mortality rate associated with various heart conditions and fuel the growth of bioprosthetics market.
Market Dynamics and Trends:
Increasing prevalence of cardiovascular diseases is the major factor contributing to the growth of this market. With increasing aging population and changing lifestyle-associated habits, the number of patients suffering with cardiac impairments are increasing. Geriatric population is highly susceptible to developing conditions such as coronary artery diseases, peripheral artery disease, echo cardiography angiography and so on. These factors are expected to drive the demand for bioprosthetics market. However, possible side effects such as infections and incompatibility and threat of multiple surgeries are some other factors that are likely to hinder the growth of this market.
Market Segmentations and Scope of the Study:
The bioprosthetics market is segmented on the basis of type, application and geography. On the basis of type, the market is segmented into allograft, xenograft, and tissue source. The application segment includes cardiovascular, orthopedics, cosmetic surgeries and others. The regional analysis of the market comprises of North America, Europe, Asia Pacific, and Rest of the World.
With increasing demand for implant alternatives, companies are largely focusing on research and development and their key growth strategy. In October 2017, Sofinnova Partners invested €12.3 million ($14.3 million) in HighLife SAS, a company that is focused on the development of a unique trans-catheter mitral valve replacement (TMVR) system. Additionally, companies are also adopting strategies like geographical expansion, new product launch, and strategic acquisitions, agreements and collaborations to strengthen their position in existing market and to explore the potential emerging markets.
Comprehensive competitive analysis and profiles of major market players such as LeMaitre Vascular, Braile Biomedica, Labcor Laboratorios, Maquet Metinge Group, Medtronic Plc, Sorin Group, Humacyte, Ethicon, Life Cell Corporation, and St. Jude Medical is also provided in this report.
- The study provides an in-depth analysis of the bioprosthetics market with current and future trends to elucidate the imminent investment pockets in the market
- The study comprises a deep dive analysis of the current and future bioprosthetics market trends depicting the prevalent investment pockets in the market.
- The bioprosthetics market report provides information regarding key drivers, restraints and opportunities with impact analysis.
- Quantitative analysis of the current market and estimations through 2020-2030 are provided to showcase the financial caliber of the bioprosthetics market.
- Porters Five Forces model and SWOT analysis of the industry illustrates the potency of the buyers & suppliers participating in the bioprosthetics market.
- Value chain analysis in the bioprosthetics market report provides a clear understanding of the roles of stakeholders involved in the value chain.
KEY MARKET SEGMENTS:
- Global Bioprosthetics Market– By Type
- Tissue Source
- Global Bioprosthetics Market – By Application
- Cosmetic Surgeries
- Global Bioprosthetics Market – By Geography
- North America
- Rest of Europe
- Rest of APAC
- Latin America
- Middle East
- North America