Global Extracellular Matrix Patches Market Size (2024 - 2029)

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 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.