San Francisco, 18 October 2018 – The global extracellular matrix (ECM) patches market size is expected to reach USD 39.77 million by 2025 at a 7.7% CAGR during the forecast period, according to a new report by Grand View Research, Inc. Increasing prevalence of cardiovascular diseases, rising number of trauma surgeries, and growing adoption of ECM patches among healthcare providers are some of the key drivers for this market. Recent development of advanced ECM patches for soft tissue repair and wound healing procedures is also expected to positively impact market growth.
Surging number of hernia and pelvic restoration surgeries is also propelling demand for ECM patches in healing processes. Moreover, these patches offer greater biocompatibility, durability, and pliability than synthetic patches, which is expected to drive demand in the market. Favorable reimbursement support by governments around the world is also expected to boost the adoption and acceptance of these patches in the market.
Rising number of research activities for development of extracellular matrix patches enables an expansion in applications, which in turn, drives the market. In addition, rising government initiatives toward improvement in healthcare infrastructure and increasing healthcare expenditure in developing countries are positively influencing market growth. However, high cost of these patches is a significant factor that can lower the adoption of these patches in lower- and middle- income countries.
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Further key findings from the report suggest:
- ECM patches for soft tissue repair emerged as the largest application segment in terms of revenue in 2017, owing to rising number of hernia repair and trauma surgeries
- ECM patches derived from porcine accounted for the largest revenue share in 2017 based on raw material owing to several benefits of porcine over other sources, such as reduction in scar formation, durability, and pliability
- In terms of geography, North America accounted for the largest revenue share in 2017 and Asia Pacific is expected to exhibit the fastest growth rate over the forecast period
- Boston Scientific Corporation; Coloplast; DSM; and Baxter are some of the major players operating in the market.
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Grand View Research has segmented the global extracellular matrix (ECM) patches market based on application, raw material, and region:
Extracellular Matrix Patches Application Outlook (Revenue, USD Thousand, 2014 – 2025)
- Cardiac Repair
- Vascular Repair & Reconstruction
- Pericardial Repair
- Dural Repair
- Soft Tissue Repair
- Wound Healing
Extracellular Matrix Patches Raw Material Outlook (Revenue, USD Thousand, 2014 – 2025)
Extracellular Matrix Patches Regional Outlook (Revenue, USD Thousand, 2014 – 2025)
- North America
- Latin America
- Middle East Africa
- South Africa
Browse Press Release of this Report: www.grandviewresearch.com/press-release/global-extracellular-matrix-ecm-patches-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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