Bioprosthetics Market
Number of pages: 100 | Report Format: PDF | Published date: December 09, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market size value in 2021 |
US$ 4.41 billion |
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Revenue forecast in 2030 |
US$ 11.13 billion |
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Growth Rate |
CAGR of 10.84% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
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Segments covered |
type, by application and region |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global bioprosthetics market was valued at US$ 4.40 billion in 2021 and is expected to witness a CAGR of 10.84 % during the forecast period from 2022 to 2030.
Market Fundamentals
Bioprosthetics are medical implants obtained from biological materials such as animal tissue. Bioprostheses have made great advances in recent years, but their primary trait still remains that they deteriorate in the host body until they are completely eliminated. In the long run, neo tissue eventually will replace biomaterial totally as a result of slow degradation in the recipient. Purpose of bioprosthetic is to regenerate tissue that is properly structured, promotes angiogenesis, and even attracts growth factors to acquire properties resembling those of healthy tissue in addition to repair injured area.
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Market Dynamic
Surge in cardiovascular disorders, such as peripheral artery diseases and rheumatoid arthritis is the key factor supporting the market growth. As bioprosthetic are biologically sourced, it automatically gets deteriorated after healing, this avoids multiple surgical procedures. Furthermore, it has the potential to benefit patients at increased risk of adverse outcomes by speeding up operations and permitting less invasive surgical techniques. However, the market is constrained by the high price of procedures.
Market Ecosystem
The global bioprosthetic market has been analyzed from three perspectives: by type, by application and region
Bioprosthetics Market by Type
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The global bioprosthetic market according to type is grouped into allografts, porcine, bovine, and xenografts. Xenografts hold the majority of industrial share. Majorly xenografts bioprosthetic have high demand in treating cardiovascular disorders especially valvular heart diseases. A heart valve made from xenograft tissue has many benefits and may produce an infinite number of valves in different sizes. Cardiac surgeons and scientists have begun to consider the use of xenografts as a potential replacement for human heart valves. Porcine based bioprosthetic are expected to rise with high CAGR in the forecast period. In contrast to bovine prosthesis, porcine prostheses were connected to better long-term survival. Allograft prosthesis composites have demonstrated enhanced implant survival and functional performance, leading to an improved long-term result. Hybrid allograft prostheses are recommended for younger patients. In addition to the allograft's repair of bone stock, the APC enables gluteus and iliopsoas tendon attachment, avoiding instability.
Bioprosthetics Market by Application
Based on application, the global bioprosthetics market is divided into plastic surgery & wound healing, and cardiovascular. A significant increase in patient number is the key factor supporting the segment growth. In addition to this, the cardiovascular segment is also demanding as they do not require lifetime warfarin therapy. Moreover, bioprosthetic valves are cross-linked with glutaraldehyde to reduce their immunogenicity and to guarantee chemical stability. The Plastic surgery & Wound healing segment is expected to increase with high CAGR in the forecast period. This is attributed to Increased demand of minimally invasive surgeries.
Bioprosthetics Market by Region
Regionally, the global bioprosthetics market has been segmented into North America, Europe, Asia Pacific, and the rest of the world. North America has the majority of market share. Technological advancements in cardiovascular and orthopedic surgical procedures supports the market in the region. In addition to this, recommendations of bioprosthetics by healthcare professionals in cardiovascular cases is another factor positively impacting the market. Valvular heart disease affects about 2.5% of Americans, but it is more prevalent in older persons. The prevalence of valvular heart disease in adults born before 1943 is about 13%, stated by CDC (Center of Disease Control) in 2019. Europe holds second position in the global bioprosthetic market. This is attributed to the presence of reimbursement policies in the region. The existence of major market players in this region and the large patient population are factors influencing European market. Asia pacific region is expected to increase in the forecast period as, strong R&D levels in the region is present. Increasing number of partnerships between the government and the sector's major international players. These partnerships are gradually improving the general accessibility to healthcare facilities.
Competitive Landscape
Some of the prominent players operating in the bioprosthetics market are
Surge in cardiovascular disorders, such as peripheral artery diseases, and rheumatoid arthritis is the key factor supporting the market growth. As bioprosthetic are biologically sourced, it automatically gets deteriorated after healing, this avoids multiple surgical procedures. Furthermore, It has the potential to benefit patients at increased risk of adverse outcomes by speeding up operations and permitting less invasive surgical techniques
Some of the prominent players operating in the Bioprosthetics Market are LeMaitre Vascular, Inc., Labcor Laboratories Ltd., Medtronic Plc, Getinge Group, CryoLife, Inc, Sorin Group, Ethicon, Inc., Organogenesis, Inc., LifeCell International, and St. Jude Medical, Inc.
The market may be constrained by the high price of the procedure. Additionally, there is a potential that immunological rejection, which can occasionally result in infections, can limit market growth to some extent
Bioprosthetics are medical implantable obtained from biological materials such as animal tissue. Bioprostheses have made great advances in recent years, but their primary trait still remains that they decay in the host body until they are completely eliminated.
The global bioprosthetics market was valued at US$ 4.41 billion in 2021 and is expected to witness a CAGR of 10.84 % during the forecast period from 2022 to 2030
*Insights on financial performance are subject to availability of the information in public domain