Extracellular Matrix Patches Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.65 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Extracellular Matrix Patches Market Analysis
The extracellular matrix patches market is projected to witness a CAGR of 6.65% over the forecast period (2022 - 2027).
COVID-19 had an unprecedented impact on the healthcare industry. Additionally, the restrictions imposed by governments across the world affected the number of surgeries performed. The recognition of the need to limit operative capacity to only emergent and/or urgent procedures resulted in delayed elective cardiac and vascular procedures and surgeries. The guidelines were set forth by national surgical and specialty societies. According to the study published in May 2020, "Elective surgery cancellations due to the COVID-19 pandemic: global predictive modeling to inform surgical recovery plans" based on 12 weeks of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide were canceled or postponed in 2020. More than 580,000 planned surgeries in India were canceled or delayed as a result of the COVID-19 pandemic. Such cancellation of surgeries affected the growth of the market as extracellular matrix patches are largely employed in reconstruction, soft tissue, and vascular surgeries. Thus, COVID-19 had a pronounced impact on the growth of the market.
The major factors such as the increasing number of surgeries, adoption of extracellular matrix patches in hernia and pelvic reconstruction surgeries, product launches, and strategic initiatives by market players are driving the growth of the market.
The increasing number of surgeries is one of the major factors propelling the growth, as an extracellular matrix patch is a surgical mesh that fosters healing. Thus, a higher number of surgeries being performed worldwide is expected to propel the growth of the market. For instance, as per a September 2020 published article titled "Estimation of the National Surgical Needs in India by Enumerating the Surgical Procedures in an Urban Community Under Universal Health Coverage," an estimated 5,000 surgeries are required to meet the surgical burden of diseases of 100,000 people in low- and middle-income countries (LMICs). Additionally, as per the same source, the reported rates of surgery vary from 295 in low-and middle-income countries (LMICs) to 23,000 in high-income countries (HIC) per 100,000 population. Likewise, according to the Center for Disease Control and Prevention's 2022 update, a total of 18.2 million adults had coronary artery disease, and approximately 70% of these patients underwent surgery. Such a high burden of surgeries creates a need for ECM patches as such surgeries also employ them to support the healing process, thus boosting the growth of the market.
Additionally, the companies are focusing on developing an extracellular matrix for soft tissue 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 plastic surgery, limb salvage, burns, and trauma.
Furthermore, the strategic initiatives taken by the market players are also expected to boost the growth of the market. For instance, in July 2021, Becton, Dickinson, and Company acquired Tepha, Inc. Tepha is one of the leading developers and manufacturers of proprietary resorbable polymer technology. Such acquisitions also contribute to the growth of the market.
Thus, owing to the abovementioned factors, the market is expected to project growth over the forecast period. However, the high cost of extracellular matrix patch grafts may impede the growth of the market.
Extracellular Matrix Patches Market Trends
This section covers the major market trends shaping the Extracellular Matrix Patches Market according to our research experts:
The Cardiac Repair Segment is Expected to Have the Significant Market Share Over the Forecast Period
The cardiac repair segment is expected to hold a significant share in the market over the forecast period, owing to factors such as the number of cardiovascular diseases, the launch of new products, and research studies that are driving the growth of the market segment. For instance, according to the British Heart Foundation, United Kingdom Factsheet, released in August 2022, more than 7.6 million people were living in the United Kingdom in 2021 with some kind of heart and circulatory disease. It also reported that of the 7.6 million, 4 million are males and 3.6 million are females. Such a high burden of cardiovascular diseases in different countries around the world creates the need for ECM for cardiac repair and is thus expected to drive the growth of the market segment.
Additionally, the increasing focus of market players on research studies for the development of cardiac repair products is also expected to boost the growth of the segment. For instance, in September 2021, Terumo Corporation launched a global surgical graft study known as PANTHER, which is a prospective and retrospective study of a comprehensive range of knitted and woven surgical grafts and cardiovascular patches. The positive results from such studies are expected to lead to the development of more effective products in the future, which is expected to drive the growth of the market segment.
Furthermore, approval from the regulatory authority is also expected to boost the growth of the market segment. For instance, in June 2021, Axio Biosolutions received the United States Food and Drug Administration's clearance of its product Axiostat Patch, which helps in the control of moderate to severe bleeding in vascular procedures. Such launches also propel the growth of the market segment.
Thus, owing to the abovementioned factors, the market segment is expected to project growth of the market over the forecast period.
North America is Expected to Have the Significant Market Share Over the Forecast Period
North America is expected to witness a significant share of the market growth over 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 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. As the geriatric population is more prone to cardiovascular disease, it is expected to boost the growth of the market as extracellular matrix (ECM) plays an important role in cardiac regeneration and repair after cardiac injury.
The launch of products by the market players is also expected to drive the growth of the market. For instance, in November 2021, Sanara MedTech Inc. launched two innovative extracellular matrix products, FORTIFY TRG, a tissue repair graft, and FORTIFY FLOWABLE Extracellular Matrix, from Cook Biotech Inc. in the United States. Such product launches propel the growth of the market.
Thus, owing to the aforementioned factors, the market is expected to show significant growth in the North American region over the forecast period.
Extracellular Matrix Patches Industry Overview
The extracellular matrix patches market is moderately competitive with the presence of major players. The major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, and acquisitions to increase their footprints in this market. Some of the key players are Baxter International, Coloplast, MTF Biologics, Terumo Corporation, and Aziyo Biologics, among others.
Extracellular Matrix Patches Market Leaders
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Baxter International
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Terumo Corporation
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Aziyo Biologics
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Coloplast
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MTF Biologics
*Disclaimer: Major Players sorted in no particular order
Extracellular Matrix Patches Market News
- In August 2022, CONMED Corporation acquired privately-held Biorez, Inc. Biorez is focused on advancing the healing of soft tissue using its proprietary BioBrace implant technology. The BioBrace implant is an innovative bioinductive scaffold that is intended to reinforce soft tissue where weakness exists and facilitate healing.
- In May 2022, Ortho Regenerative Technology, a clinical-stage orthobiologics company focused on the development of novel soft tissue repair regenerative technologies, received a patent from the United States Patent and Trademark Office for its ORTHO-R soft tissue repair platform. The issued patent, titled "Freeze-Dried Polymer Compositions for mixing with platelet-rich plasma to form implants for tissue repair and/or composition for therapeutic intra-articular injection" (US Patent Application No. 11,285,100 B2), provides broad protection for both the composition and the method of use of Ortho R Technology.
Extracellular Matrix Patches Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Number of Surgeries
- 4.2.2 Adoption of Extracellular Matrix Patch in Hernia and Pelvic Reconstruction Surgeries
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4.3 Market Restraints
- 4.3.1 High Cost of Extracellular Matrix Patch Procedure
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Raw Material
- 5.1.1 Porcine
- 5.1.2 Bovine
- 5.1.3 Others
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5.2 By Application
- 5.2.1 Soft Tissue Repair
- 5.2.2 Cardiac Repair
- 5.2.3 Vascular Repair & Reconstruction
- 5.2.4 Others
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Baxter International
- 6.1.2 Becton, Dickinson, and Company
- 6.1.3 Terumo Corporation
- 6.1.4 LeMaitre
- 6.1.5 Smith+Nephew
- 6.1.6 Aziyo Biologics
- 6.1.7 Integra LifeSciences Corporation
- 6.1.8 Coloplast
- 6.1.9 Medtronic
- 6.1.10 MTF Biologics
- 6.1.11 Koninklijke DSM N.V.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityExtracellular Matrix Patches Industry Segmentation
As per the scope of the report, 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 to regulate intercellular communication. The Global Extracellular Matrix Patches Market by raw material (Porcine, Bovine, and Others), application (Soft Tissue Repair, Cardiac Repair, Vascular Repair, and Reconstruction, and Others), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Raw Material | Porcine | |
| Bovine | ||
| Others | ||
| By Application | Soft Tissue Repair | |
| Cardiac Repair | ||
| Vascular Repair & Reconstruction | ||
| Others | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Extracellular Matrix Patches Market Research FAQs
What is the current Global Extracellular Matrix Patches Market size?
The Global Extracellular Matrix Patches Market is projected to register a CAGR of 6.65% during the forecast period (2024-2029)
Who are the key players in Global Extracellular Matrix Patches Market?
Baxter International, Terumo Corporation, Aziyo Biologics, Coloplast and MTF Biologics are the major companies operating in the Global Extracellular Matrix Patches Market.
Which is the fastest growing region in Global Extracellular Matrix Patches Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Extracellular Matrix Patches Market?
In 2024, the North America accounts for the largest market share in Global Extracellular Matrix Patches Market.
What years does this Global Extracellular Matrix Patches Market cover?
The report covers the Global Extracellular Matrix Patches Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Extracellular Matrix Patches Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global Extracellular Matrix Patches Industry Report
Statistics for the 2024 Global Extracellular Matrix Patches market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global Extracellular Matrix Patches analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
