Bioprosthetics Market Analysis By Type (Allograft, Xenograft, Porcine, Bovine), By Application (Cardiovascular, Plastic Surgery & Wound Healing) And Segment Forecasts To 2024

Report Overview

全球bioprosthetics市场价值是美元2.59 billion in 2015 and is anticipated to grow at a CAGR of over 10.5% during the forecast period. The increasing prevalence of cardiovascular disorders, such as rheumatoid heart disease, and coronary and peripheral artery diseases, and the resultant, corresponding demand for long-term relief is anticipated to widen the base of the bioprosthetics market. Moreover, the expanding geriatric population characterized by a higher susceptibility to develop degenerative cardiac diseases is further presumed to augment the market growth throughout the forecast period.

North America bioprosthetics market share, by application, 2013 - 2024 (USD Million)

The emergence of technological innovations has led to the development of hybrid tissue-engineered bioprostheses, which involve the use of non-biodegradable, cultured tissue scaffolds, which enclose an alloy of nickel and titanium that serve as highly durable alternatives to conventional, biodegradable tissue-engineered prosthetics. Moreover, these advancements are expected to gradually replace the use of purely synthetic mechanical heart valves, which have been implicated in high thrombogenicity and hence necessitate the administration of anticoagulants to prevent concomitant embolic events, valve obstruction, and bleeding.

These novel solutions are expected to effectively reduce the mortality and morbidity associated with cardiac valve disorders, which in turn is expected to boost the bioprosthetics market during the forecast period. Additionally, the optimized tissue treatment processes in use, further enhance the robustness of the prostheses and eliminate the need for long-term medication typically associated with prosthetics, which is expected to aid the emergence of this vertical during the forecast period.

Furthermore, the associated benefits comprising faster recovery rates and relatively improved patient safety profile, attributable to the advent of hybrid constructs and optimized tissue preservation techniques for these tissue-engineered products, lead to better patient outcomes, which are estimated to drive both, patient and physician preference for these implantable bioprostheses. The heightened preference of the medical community for these alternative prostheses is expected to present the market with lucrative growth opportunities in the future. In addition, the rising number of aortic and mitral valve replacements, as well as diseased heart valve cases, are estimated to contribute to the overall demand for the varied prostheses.

Application Insights

In 2015, the cardiovascular segment held the largest share of over 87.0% in the application segment of the bioprosthetics market. The exponential growth is attributed to the rising patient count suffering from cardiovascular diseases requiring valve replacement procedures. Moreover, the incorporation of minimally invasive techniques coupled with the groundbreaking advancements introduced in the second generation bioprosthetics that are aimed at reducing the number of structural failure cases is estimated to provide a fillip to the demand for bio-implants throughout the forecast period. For instance, the advent of bioprosthetic heart valves has led to reduced demand for open-heart surgeries, which serves as a crucial factor contributing to the dominant share of the segment.

Product Insights

The xenograft segment held a substantial industry share of over 69.0% in 2015 as a consequence of the enumerated benefits of these implants: long-term stability, relatively easy availability of the raw materials, higher survival rates, low manufacturing costs, and easy implantation procedures; hence making it a more suitable choice amongst the available bioprosthetics. The captured high share is also due to its wide applicability in the areas, such as the generation of 3D-based personalized implants and tissue repair applications.

The porcine-based devices category is expected to witness growth at a lucrative CAGR during the forecast period in the xenograft segment. The fast growth can be attributed to the numerous clinical studies, such as those conducted by the American Heart Association, directed toward improving the efficacy of the porcine xenografts and reducing the typical, concomitant adverse effects; altogether these initiatives are anticipated to further facilitate the market penetration of the porcine xenografts.

Regional Insights

In 2015, Europe captured a sizeable share of the regional bioprosthetics vertical with a share of over 40.0%. The presence of clearly-defined reimbursement models, prominent industry players, and the large patient volume present in this region are responsible for the large share. Moreover, the formulated, stringent regulatory policies increasingly ensuring patient safety and maintaining high treatment efficacy standards are anticipated to drive the demand for these devices in this region.

The Asia Pacific bioprosthetics market is anticipated to grow at the fastest CAGR of over 11.0% during the forecast period owing to the increasing patient awareness levels toward alternative treatment options and the rapidly improving healthcare infrastructure. The growth is additionally attributable to the high research and development intensity in emerging economies, such as China and India. Furthermore, the growing number of collaborations between the global players in the sector and the government is gradually improving the overall access to healthcare facilities, which in turn is anticipated to provide the region with a high growth potential throughout the forecast period.

Key Companies & Market Share Insights

Some key players in the bioprosthetics market include LeMaitre Vascular, Inc., Braile Biomedica, Inc., Labcor Laboratorios Ltd., Maquet Metinge Group, Medtronic Plc., Aortech International Plc, CryoLife, Inc., Sorin Group, Humacyte, Inc., Ethicon, Inc., Life Cell Corporation, Organogenesis, Inc., St. Jude Medical, Inc., Edwards Lifesciences Corporation, and JenaValve Technology GmbH.

These industry players are undertaking strategies, such as entering into mergers and acquisitions, geographical expansions, and product launches in order to capture a greater share of this vertical. For instance, in April 2016, CyroLife, Inc., announced the acquisition of PhotoFix, a bovine pericardium tissue patch range, manufactured by Genesee BioMedical, Inc. This launch was carried out to further expand the existing product portfolio of the company.

Bioprosthetics Market Report Scope

Report Attribute	Details
Market size value in 2020	USD 4,391.5 million
Revenue forecast in 2024	USD 6.41 billion
Growth Rate	CAGR of 10.5% from 2016 to 2024
Base year for estimation	2015
Historical data	2013 - 2015
Forecast period	2016 - 2024
Quantitative units	Revenue in USD million and CAGR from 2016 to 2024
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Type, application, region
Regional scope	North America; Europe; APAC; Latin America; MEA
Country scope	U.S.; Canada; U.K.; Germany; Japan; China; India; Brazil; Mexico; South Africa
Key companies profiled	LeMaitre血管,Inc .);基于沈阳市盲校,Inc .);labcor Laboratorios Ltd.; Maquet Metinge Group; Medtronic Plc.; Aortech International Plc; CryoLife, Inc.; Sorin Group; Humacyte, Inc.; Ethicon, Inc.; Life Cell Corporation; Organogenesis, Inc.; St. Jude Medical, Inc.; Edwards Lifesciences Corporation; JenaValve Technology GmbH
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
革命制度党cing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options