PUBLISHER: Grand View Research | PRODUCT CODE: 1363251
PUBLISHER: Grand View Research | PRODUCT CODE: 1363251
The global extracellular matrix patches market size is expected to reach USD 51.8 million by 2030, registering a CAGR of 7.8% during the forecast period, according to a new report by Grand View Research, Inc.. Increasing prevalence of cardiovascular diseases, the rising number of trauma surgeries, and the growing adoption of ECM patches among healthcare providers are some of the key drivers for this market. Recent development of advanced ECM patches for soft tissue repair and wound healing procedures is also expected to positively impact market growth.
The surging number of hernia and pelvic restoration surgeries is also propelling demand for ECM patches in healing processes. Moreover, these patches offer greater biocompatibility, durability, and pliability than synthetic patches, which is expected to drive demand in the market. Favorable reimbursement support by governments around the world is also expected to boost the adoption and acceptance of these patches in the market.
The rising number of research activities for the development of extracellular matrix patches enables an expansion in applications, which in turn, drives the market. In addition, rising government initiatives toward improvement in healthcare infrastructure and increasing healthcare expenditure in developing countries are positively influencing the market growth. However, the high cost of these patches is a significant factor that can lower the adoption of these patches in lower- and middle- income countries.