Global Extracellular Matrix Patches Market - 2022-2029

Global Extracellular Matrix Patches Market - 2022-2029

Market Overview

Extracellular matrix patches market size was worth US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of 7.5 % during the forecast period (2022-2029).

The extracellular matrix patches are a 3D network consisting of extracellular macromolecules that are used to provide support to the surrounding cells. It promotes a regenerative or healing pathway and facilitates tissue remodeling. It is used to support tissues segregating one another and regulate intercellular communication.

Market Dynamics

The growth of the extracellular matrix patches market is due to the rise in prevalence of trauma, congenital heart disease, rise in prevalence of vascular diseases, increase in vascular surgeries and a surge in the geriatric population which require reconstruction and repair procedures.

Adoption of extracellular matrix patch in hernia and pelvic reconstruction surgeries is expected to hold the largest share in this market segment

According to the data published by Health System Tracker, 2022, it has been observed that heart disease is the number one leading cause of death in the United States. The World Heart Federation has predicted more than 23 million cardiac-related deaths per year by 2030. One of the major elements driving the expansion of extracellular matrix patches is a growing knowledge of the advantages of biological patches over synthetic ones. Increasing adoption of extracellular matrix in hernia and pelvic reconstruction surgeries promotes the growth of these products and rising technological advancements have favored the market growth. For instance, Aziyo Biologics' AltiPly patch is a ready-to-use patch that does not require rehydration and is easy to handle at room temperature. It involves patented processing that boosts growth level variables and speeds up the healing process in situations of venous leg ulcers, diabetic foot ulcers, and pressure wounds.

For example, abdominal wall hernia surgery is one of the most common procedures performed around the world. The extracellular matrix is being developed by several businesses for pelvic reconstruction and hernia surgery. For instance, Boston Scientific Corporation's Xenform Soft Tissue Repair Matrix is suggested for soft tissue regeneration, particularly in cases of pelvic organ prolapse. Moreover, the companies are focusing on developing extracellular matrix for soft tissues repair. For instance, in February 2020, Aroa Biosurgery launched Myriad a new product for soft tissue repair and reconstruction, in the United States market. Myriad can be used for a variety of plastic and reconstructive surgical operations that require the repair or reinforcement of soft tissue, including as plastic surgery, limb salvage, burns, and trauma.

Few complications of these grafts are likely to hinder the market growth

However, in the past few years, many of these products have undergone recalls, which in turn, hinder its adoption levels. In addition, the use of extracellular matrix grafts involves various complications such as allergies, chronic inflammation, pain, swelling, and redness, which may adversely impact its growth.

COVID-19 Impact Analysis

COVID-19 has impacted the healthcare industry. The restrictions imposed by the government across the world have impacted the treatment and surgeries of the patients. The recognition of the need to limit operative capacity to only emergent and/or urgent procedures have resulted in delayed elective cardiac and vascular procedure and surgeries. The guidelines were set forth by national surgical and specialty societies. According to the study published in the British Journal of Surgery, in May 2020, ""Elective surgery cancellations due to the COVID-19 pandemic: global predictive modeling to inform surgical recovery plans"" based on a 12-week period of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide were cancelled or postponed in 2020. More than 580,000 planned surgeries in India were cancelled or delayed as a result of the COVID-19 pandemic.

Segment Analysis

The cardiac repair segment is expected to hold the largest share in this market segment

The main factor driving the market's growth is the increasing number of cardiovascular diseases. According to the National Center of Biotechnology Information, 2020, around 64.3 million people suffer from heart failure worldwide. In addition, the prevalence rate of heart failure in the adult population is about 0.8% to 4.0%. According to the data published by Philippine Statistics Authority (PSA), 2020, it has been observed that ischaemic heart diseases were the leading cause of death from January to October 2021, with 110,332 cases or 18.3% of the total deaths in the country. Moreover, the number of children with congenital heart diseases has been increasing over the past year and thus leading to the adoption of these cardiovascular repair patches for diagnosing and driving the overall market.

The decentralized extracellular matrix patches are widely used in cardiac tissue repair. For instance, according to the National Center for Biotechnology Information, 2020, the rich array of proteins, glycosaminoglycans, proteoglycans, and many other matrix components found in natural tissue are most efficiently captured by decellularized extracellular matrix (dECM), offering perfect cues for regeneration and repair of injured myocardium. This makes dECM a promising biomaterial for repairing cardiovascular tissue.

Geographical Analysis

North America region holds the largest market share of global extracellular matrix patches market

North America is expected to witness a significant share of market growth in the forecast period. The factors propelling the growth of the market are the increasing incidence of cardiovascular diseases and defects, sports injuries, trauma cases, growing research and development expenditure, and increasing incidences of hernia disorders. According to the American Association for the Surgery of Trauma, 2021, trauma is the leading cause of death for individuals up to the age of 45 years. As per the same source, the annual toll of trauma in the United States is USD 4.2 trillion.

In addition, the rising geriatric population is also likely to boost the market growth as they are more prone to cardiovascular diseases. According to the Administration for Community Living report 2020, the number of Americans aged 65 and above was 16.9% of the total population in 2020, and it is estimated to about double to 94.7 million by 2060, and the 65-and-older age group’s share of the total population will rise from 16% to 21.6% in the United States. According to the Center for Disease Control and Prevention, Coronary heart disease is the most common type of heart disease, killing 360,900 people in 2019 in the United States.

Moreover, the United States spends a significant percentage of its GDP on healthcare, each year. According to Organization for Economic Cooperation and Development, 2021, the United States has the greatest healthcare spending, sitting at USD 10,224 per capita.

Competitive Landscape

The global extracellular matrix patches market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Baxter International, Becton, Dickinson, and Company, Terumo Corporation, LeMaitre, Smith+Nephew, Aziyo Biologics, Integra LifeSciences Corporation, Coloplast, Medtronic, MTF Biologics, Koninklijke DSM N.V. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the hydrocephalus shunts globally. For instance, In November 2021, Sanara MedTech Inc. launches two new innovative extracellular matrix products, FORTIFY TRG Tissue Repair Graft and FORTIFY FLOWABLE Extracellular Matrix, from Cook Biotech Inc. This will assist the company to build upon its comprehensive portfolio of surgical and wound care products without replacing any of its existing CellerateRX Surgical products.

Key Companies to Watch

Baxter International

Overview: Baxter International Inc. is an American multinational health care company with headquarters in Deerfield, Illinois. The company primarily focuses on products to treat kidney disease, and other chronic and acute medical conditions.

Product Portfolio: It includes products like PERI-GUARD, VASCU-GUARD and DURA-GUARD patches.

Recent Development:

In January 2021, JellaGel Launched its 3-dimensional hydrogel, JellaGel Hydrogel. It allows cells to grow and interact with all of their surroundings which makes a huge difference.

In September 2021. the company Terumo Corporation announced the launch of a global surgical graft study known as PANTHER, which is a perspective and retrospective study of a comprehensive range of knitted and woven surgical grafts and cardiovascular patches.

In June 2021, Axio Biosolutions announced the US Food and Drug Administration's clearance of its product Axiostat Patch, which helps in the control of moderate to severe bleeding in vascular procedures.

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• Visualize the composition of the extracellular matrix patches market segmentation by raw material, application, and region highlighting the key commercial assets and players.
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