Global Extracellular Matrix (ECM) Patches Market: Overview
The global extracellular matrix patches market is prognosticated to witness a surge in demand during the forecast period due to the rise in prevalence of trauma, congenital heart disease. This kind of incidence often require a reconstruction and repair procedures. This is major reason behind that is thriving the market growth. Centers for Disease Control and Prevention, recently stated that thousands of neonates are born with congenital heart disease in the U.S each year. Rise in adoption of extracellular matrix in pelvic reconstruction and hernia surgeries have fostered the growth of the market.
Extracellular matrix is a group of extracellular molecules which are concealed by support cells that provides biochemical and structural support to the surrounding cells.
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Global Extracellular Matrix (ECM) Patches Market: Trends and Opportunities
Rise in technological advancement particularly in the field of healthcare sector has completely evolved the treatment procedures that are practiced in the hospitals and healthcare these days. Similarly, Extracellular Matrix is no different, increase in research and development accompanied with advanced technology have favored the growth of the market. It has been noticed that steep cost of these ECM grafts have only benefited the rich class of the society as the middle class could not afford it. This is major factor which is predicted to pull down the growth of the market during the forecast period. However, monetary aid by the government of various countries is likely to burgeon the market growth. For example, American Medical Association have identified eight CPT codes for numerous use of OASIS Matrix products, which is manufactured Smith & Nephew. The product can be compensated in three settings which are physician in office, ambulatory wound care center, and out of hospital.
Increase in awareness among consumer about the benefits of biological patches in comparison to synthetic patches, is expected to drive the global market big time. It has also been noticed in past many of the products have experimented recalls, which are likely to dampen the growth of the market. In addition to that other factors which might stand in way of the market growth are several complications associated with the grafts like chronic inflammation, redness, swelling, and pain. These are likely to bring down the market growth in future. However, rise inguinal hernia accompanied with surgery treatment for trauma is helping the soft tissue repair market segment. Rise in prevalence of vascular diseases, increase in vascular surgeries accompanied with surge in geriatric population are another factors which are try to bolster the market rate. Various private and public organizations are aiding extracellular matrix studies in order to treat vascular incidences, thus favoring the growth of the market.
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Global Extracellular Matrix (ECM) Patches Market: Market Potential
Recently, Kevin Kit Parker, who holds Ph.D. at Harvard University, developed a nanofiber fabrication with his team which can quickly manufacture heart valves with growth and regenerative potential. Andrew Capulli, with his colleagues, fabricated a nanofiber network, which valve is shaped, can mimics the chemical and mechanical properties of the native valve ECM.
Global Extracellular Matrix (ECM) Patches Market: Regional Outlook
The global extracellular matrix patches market is spread across Europe, North America, Latin America, Middle East Africa, and Asia Pacific. Amongst the pack North America holds the lion share in terms of revenue recently. Rise in number of cardiovascular diseases, trauma cases, and sports injuries are major factors behind the rise in demand in the region. Availability of advanced technological labs, high healthcare expenditure, and heavy cash flow for research and development contribute the growth of the market in this region. Asia Pacific on other hand is anticipated to become the fastest growing market during the forecast period due to the rise in healthcare expenditure.
Global Extracellular Matrix (ECM) Patches Market: Competitive Landscape
Players in the global extracellular matrix market are experiencing merging acquisition in order to develop new technologies for ECM patch manufacturing. Some of the leading players in the market are Boston Scientific Corporation, Aziyo Biologics, Baxter, DSM, and Coloplast.
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