The beating heart patch market is comprised of bioabsorbable patches that are placed on injured hearts as a temporary scaffold, allowing native tissue to regenerate. The patches are made with biomaterials like collagen and fibrin and serve as a platform for cells to grow. This innovative treatment option is gaining ground over traditional open-heart surgeries as it is less invasive and enables faster recovery times for patients.

The global beating heart patch market is estimated to be valued at US$ 223.6 Mn in 2024 and is expected to exhibit a CAGR of 7.6% over the forecast period 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. The market offers opportunities for growth driven by increasing adoption rates among patients and favorable research funding for developing advanced biomaterial-based solutions. North America dominates the global market currently but Asia Pacific is expected to witness highest growth over the coming years due to rising healthcare expenditures and growing medical tourism industry in China and India.

Market Drivers

The growing prevalence of cardiovascular diseases worldwide is the major factor expected to drive demand for beating heart patches. According to WHO, cardiovascular diseases are the leading cause of death globally, responsible for over 17.9 million deaths per year. Rising obesity rates, stressful lifestyles and expanding geriatric population are key contributors to the increasing incidence of such life-threatening conditions. Moreover, advantages of beating heart patches over conventional open-chest procedures like reduced recovery times, hospital stay and risk of post-surgical complications make them an attractive treatment avenue for various forms of heart disease.

PEST Analysis

Political: The government policies and regulations related to the healthcare sector will impact the beating heart patch market.

Economic: The rising healthcare expenditures and increasing disposable incomes will drive the growth of beating heart patch market.

Social: Growing aging population and increasing awareness about cardiac care will fuel the demand for beating heart patch.

Technological: Advancements in biomaterial science and tissue engineering techniques are enabling development of innovative beating heart patches. Additionally, 3D-printing technology is being explored for fabrication of customized heart patches.

Geographical regions where market in terms of value is concentrated: North America currently dominates the beating heart patch market led by the United States. High healthcare spending, advanced healthcare infrastructure, and presence of major market players in the region are some key factors supporting market growth in North America.

The fastest growing region for given market: Asia Pacific region is expected to witness highest growth over the forecast period owing to rising geriatric population, improving healthcare facilities, and increasing investments in medical research in countries like China and India.