July 17, 2024

Beating Heart Patch Market Propelled by Rising Adoption of Minimally Invasive Cardiac Procedures

Beating heart patches are temporary cardiac patches placed on damaged or weakened areas of the heart during minimally invasive cardiac procedures without stopping heart beating. The patches help in repairing of cardiac tissues and strengthening heart muscles. With various advantages like reducing post-surgery pain and hospital stay along with early recovery, the beating heart patches are increasingly adopted. The global Beating Heart Patch Market is estimated to be valued at US$ 130 million in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The rising adoption of minimally invasive cardiac procedures is driving the beating heart patch market. Minimally invasive procedures help in performing cardiac surgeries through small incisions without stopping the heart. They offer benefits like less pain, fewer complications, shorter hospital stays, and faster recovery in comparison to traditional open-heart surgeries. The use of beating heart patches has increased significantly during such minimally invasive procedures as they help in repairing the heart without cardiac arrests. Their adoption allows fixing cardiac abnormalities without open-heart interventions. This rising trend of minimal invasiveness is expected to propel the demand for beating heart patches over the forecast period.

SWOT Analysis
Strength: Beating heart patches are smaller and more patient-friendly than other cardiac assist devices. They don’t require major surgery for implantation.
Weakness: The market is still in the nascent stage with limited clinical data available on long-term outcomes. Technical challenges remain around ensuring proper sizing and reliability over multiple heartbeats.
Opportunity: Rising incidence of heart failure cases globally due to chronic conditions like diabetes and obesity has opened opportunities. Growing investment in R&D of next-gen patches can help address current device challenges.
Threats: Stiff competition from alternatives like ventricular assist devices and heart transplants limits market potential in the short run. Regulations need harmonization to make global clinical trials and approvals more efficient.

Key Takeaways

The global beating heart patch market is expected to witness high growth over the forecast period.

North America currently dominates usage owing to advanced clinical acceptability and availability of reimbursements for new technologies. The large unmet needs in cardiovascular care especially in countries like China and India also make Asia Pacific a highly promising region.

Key players operating in the beating heart patch market are Abbott, Bioventrix, Corbin, and AbioMed. Abbott launched its latest product in 2021 after positive clinical trials, demonstrating enhanced safety. Meanwhile, AbioMed continues to invest in developing key capabilities around miniaturization and wireless connectivity.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it