The growth of the pericardial patches market is gaining traction by the growing research and development activities from numerous key players and scientists. For instance, in 2017, in India, an IITian doctorate and cardiovascular surgeon Soma Guhathakurta develops a low-cost biomaterial that can replace imported patches. It is India’s first tissue-engineered pericardial patches.
The growing technological advancements in the patches are expected to boost adoption of the pericardial patches over the coming years. Moreover, advancements in sterilization and manufacturing, and growing application of soft tissue by surgeons are also contributing in the growth of pericardial patches market.
Growing Prevalence of Anterior Cruciate Ligament Injuries to Fuel Market Demand in North America
The demand for pericardial patches is seen largely in North America, due to increasing technological advancements in research and treatment platforms and growing prevalence of anterior cruciate ligament injuries. Moreover, presence of large number of soft tissue allografts manufactures has also assisted in growing the pericardial patches market in North America.
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In U.S., there are around a million ACL ruptures per years seen in trauma victims and athletics, which has grown the demand for pericardial patches. Growth for this market is also seen in other developed countries such as France, Germany, and the U.K. in Europe due to growing incidence of degenerative disorder and increasing expenditure on the healthcare industry.
On the other hand, sluggish growth is seen in countries like Italy and Spain due to strict and prolonged approval process. In addition, Asia Pacific is also likely to show lucrative opportunities in the pericardial patches market. The rising awareness about tissue banking, growing number of tissue banks, and expanding bone and soft tissue allografts are the main reasons for the growth in this region.