The Beating Heart Patch Market is driven by rising prevalence of cardiovascular diseases

The Beating Heart Patch Market is driven by rising prevalence of cardiovascular diseases

The beating heart patch market has been gaining significant traction over the recent past owing to the increasing adoption of tissue-engineered cardiovascular patches. A beating heart patch is a temporary device that is placed directly on the injured heart muscle to help it heal. It essentially functions as a living scaffold comprising cells and biomaterials that facilitate the growth of new cardiac tissue. Beating heart patches offer several advantages over conventional surgical techniques as they help reduce scarring and preserve heart functions post-surgery. The ability of these patches to regenerate heart tissues minimally invasively makes them an attractive treatment option for various cardiovascular ailments.

The global beating heart patch market is estimated to be valued at US$ 223.6 million in 2024 and is expected to exhibit a CAGR of 7.6% over the forecast period from 2023 to 2030.

Key Takeaways
Key players operating in the beating heart patch market are BIOCARDIA, INC., Athersys, Inc., CorMatrix Cardiovascular, Inc., BD, LifeNet Health, Inc., and Admedus Ltd. BIOCARDIA recently received FDA breakthrough device designation for its bioresorbable beating heart patch indicating a strong product pipeline in the market.

The demand for beating heart patches is expected to grow significantly over the coming years owing to the rising prevalence of cardiovascular disorders worldwide. Cardiovascular diseases (CVDs) pose a major health burden and account for over 17 million deaths annually according to the World Health Organization. The growing geriatric population prone to CVDs will augment the need for advanced treatment methods like beating heart patches.

Major players in the market are focusing on expanding their geographical presence through partnerships and distribution agreements to capitalize on the high market potential in developing nations. For instance, CorMatrix Cardiovascular opened new production facilities in Belgium and Malaysia in 2022 to meet the demand from the European and Asia Pacific regions respectively.

Market Drivers
The high incidence of cardiovascular diseases is a major factor propelling the beating heart patch market forward. As per estimates, CVDs account for over 31% of global deaths each year making them the leading cause of mortality worldwide. With aging populations in developed nations coupled with the adoption of sedentary lifestyles in developing countries, the prevalence of heart diseases is growing rapidly. This widespread burden of CVDs is increasing the need for novel regenerative therapies like beating heart patches.

Impact of geopolitical situation on the Beating Heart Patch market growth

The beating heart patch market is witnessing unprecedented changes in the geopolitical landscape globally. The ongoing Russia-Ukraine conflict and sanctions on Russia have disrupted the supply chain and trade flows. Both Russia and Ukraine are major exporters of raw materials required for manufacturing beating heart patches. The restrictions on trade and commerce with Russia have constrained the supply of essential biomaterials like collagen used for developing heart patches. Additionally, the economic downturn in Europe due to the war could potentially dampen the demand for advanced medical therapies in the short term.

To sustain long term growth, manufacturers must look for alternative biopolymer sources and optimise production processes. Companies need to diversify their supplier networks beyond the Eurasian region and establish strategic partnerships. Investing in R&D for biomaterial substitution and product development will help address supply issues. Meanwhile, targeting other high-income countries in Asia Pacific and North America can offset short term demand fluctuations in the EU market. Overall, geopolitical stability and resumption of global trade are critical for the beating heart patch industry to realise its true market potential over the coming decade.

Geographical regions of market concentration

Currently, North America accounts for the largest share of the global beating heart patch market in terms of value. This is attributed to the high adoption of advanced medical therapies and availability of favorable reimbursement frameworks in the US and Canada. Presence of major industry players and high healthcare spending further support the market growth. Europe is another prominent regional market benefiting from increasing public funding for regenerative medicine research. However, the ongoing military conflict is posing challenges to market growth across Eastern European nations in the short run.

Fastest growing geographical region

Going forward, the Asia Pacific region is expected to register the fastest CAGR in the beating heart patch market during the forecast period. This can be credited to rising investments by both private and public sectors to develop advanced healthcare infrastructure. Growing medical tourism in countries such as Thailand, India, and Japan is also positively impacting the uptake of innovative cardiac therapies. Furthermore, rising affluence, healthcare reforms and awareness among patients will augment the demand for beating heart patches across major Asian economies over the next decade.