Global Absorbable Antibacterial Envelope Market Size to Reach USD 59.4 Million in 2032 | Emergen Research
Increasing prevalence of cardiovascular disorders is a key factor driving Absorbable Antibacterial Envelope market revenue growth
Vancouver, Aug. 30, 2023 (GLOBE NEWSWIRE) — The global market size for absorbable antibacterial envelopes reached USD 34.6 million in 2022. It is anticipated to maintain a consistent and gradual annual revenue growth rate of 5.5% throughout the projected period, as outlined by the latest analysis conducted by Emergen Research. One of the primary catalysts behind this upward trajectory is the increasing prevalence of cardiovascular ailments and diabetes. The International Diabetes Federation (IDF) reports that diabetes presently affects approximately 537 million individuals aged 20 to 79 globally. Projections indicate that the diabetic population will escalate to around 643 million by 2030. The majority of diabetes cases (over 90%) fall under the category of Type 2 diabetes, attributed to a blend of socioeconomic, demographic, environmental, and genetic variables. To mitigate the impact of diabetes, proactive measures to prevent Type 2 diabetes coupled with early diagnosis and optimal management for all diabetes variants are crucial. Adhering to these preventive measures can substantially alleviate or delay the onset of complications associated with the condition.
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Nonetheless, significant impediments to the growth of market revenue include the elevated expenses associated with absorbable antibacterial envelopes and the limited extent of awareness and adoption regarding this product. These envelopes necessitate the use of specialized materials that possess the attributes of biocompatibility, absorbability, and the capacity to dispense antimicrobial agents. The intricate and costly nature of developing and manufacturing these materials adds to the overall expenditure incurred in producing these envelopes.
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Scope of Research
|Market Size in 2022||USD 34.6 Million|
|Revenue Forecast To 2032||USD 59.4 Million|
|Base Year For Estimation||2022|
|Quantitative Units||Revenue in USD Million and CAGR in % from 2023 to 2032|
|Report Coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments Covered||Application, end-use, and region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Country Scope||U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa|
|Key Companies Profiled||Medtronic plc and Aziyo Biologics, Inc.|
|Customization Scope||10 hours of free customization and expert consultation|
Major Companies and Competitive Landscape
The global absorbable antibacterial envelope market is consolidated, with few medium and large-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new absorbable antibacterial envelopes. Some major players included in the global absorbable antibacterial envelope market report are:
- Medtronic plc
- Aziyo Biologics, Inc.
- In February 2021, Medtronic plc’s wholly owned subsidiary in India, India Medtronic Private Limited, recently introduced the TYRX Absorbable Antibacterial Envelope (TYRX Envelope) to the market. This envelope is a single-use, absorbable device designed to stabilize Cardiac Implantable Electronic Devices (CIED) or implanted neurostimulators. It releases antimicrobial agents gradually over a minimum of seven days to prevent infections.
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Some Key Highlights From the Report
- The Cardiac Resynchronization Therapy (CRT) defibrillators segment accounted for largest revenue share in the global absorbable antibacterial envelope market in 2022. This is because these devices combine the capabilities of an implantable cardioverter-defibrillator and a device for CRT. A larger potential market for related items, such as absorbable antibacterial envelopes, result from the rising usage and demand for CRT-D devices. These envelopes are combined with a medical device to prevent them from infections and contain antimicrobial agents such as minocycline and rifampin.
- The hospitals segment is expected to register steadily fast revenue growth rate in the global absorbable antibacterial envelope market during the forecast period. This is owing to the high prevalence of cardiovascular disorders and patient’s access to cutting edge facilities. Patients having cardiovascular disorders tend to get admitted to hospitals for regular checkup and diagnostic purposes. While, patients who tend to have weaker hearts require defibrillators and pacemakers to make the heartbeat normally. These devices are placed beside the heart in hospital settings with proper precautions and standard regulations in handling these devices.
- The North America market is expected to account for largest revenue share in the global absorbable antibacterial envelope market over the forecast period. This is due to increasing prevalence of cardiovascular disorders, diabetes, and presence of better and advanced healthcare infrastructure. Moreover, increasing adoption and awareness about the product is also expected to drive market revenue growth in this region over the forecast period.
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Emergen Research has segmented the global absorbable antibacterial envelope market on the basis of application, end-use, and region:
- Application Outlook (Revenue, USD Million; 2019-2032)
- Cardiac Resynchronization Therapy (CRT) Defibrillators
- Implantable Cardioverter Defibrillators
- Cardiac Resynchronization Therapy Pacemakers
- End-Use Outlook (Revenue, USD Million; 2019-2032)
- Ambulatory Surgical Centers (ASCs)
- Cardiac Centers
- Regional Outlook (Revenue, USD Million; 2019–2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of
- Middle East & Africa
- North America
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