DURAL PATCH MARKET REPORT OVERVIEW
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The global Dural Patch Market size is expected to be USD 336.5 million in 2022 and the market is projected to touch USD 568.6 million by 2028, with a growing CAGR of 7.8% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with Dural Patch Market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.
The main factors boosting the dural patch market growth are developments in clinical dural grafts used for neurosurgical procedures and advances in nanotechnology. Leading industry actors are bridging scientific effectiveness and safety gaps. Dural grafts, including synthetic and xenogeneic dural products, have quickly gained popularity because to their clinical effectiveness, increased safety, and minimal side effects. For instance, a 2015 research reported in the Journal of the American Medical Association revealed a 43% rise in the quantity of industry-funded clinical trials between 2006 and 2014. As the main sponsor for clinical research, companies are actively involved in the research and development of novel dural graft products, which is projected to have a beneficial impact on the dural graft market.
COVID-19 Impact: Lack of R&D Affected Market Gains
The market for Dural Patch has been significantly impacted by COVID 19. The Dural Patch Market Research investigates the market's shrinking and the causes of this occurrence. In the report's thorough Dural Patch Market Industry Trend Analysis, new trends that have emerged since the pandemic are highlighted, along with how businesses are realigning their strategy.
The study decodes the statistics underlying the current Dural Patch Market Share in depth. In terms of customer insights, competitor analysis, supply chain, industry movements, and trend tracking, The Dural Patch Market Research predicts potential issues the sector may still face. The main issues facing the Dural Patch Industry are: "risk of a global economic recession; interruption in supply leading to increased trade tensions; and volatility in foreign exchange leading to rising trade tensions.
Latest Trends
"Government Spending on Regenerative Medicine to Boost Growth"
Governments in numerous nations have recognised regenerative medicine. The development and acceptance of supportive laws and policies by governments throughout the world is boosting support for the treatment of different diseases, which is projected to be advantageous for the dural graft market environment.
This also entails large financial outlays for regenerative medicines in order to establish, among other things, centres of excellence, research networks, manufacturing facilities, and commercialization hubs. For instance, the NIH Center for Regenerative Medicine was established by the NIH Common Fund in 2010 with the aim of acting as a national hub for stem cell research and accelerating the creation of novel medical applications and cell-based therapeutics. These factors will augment dural patch market share.
DURAL PATCH MARKET SEGMENTATION
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- By Type Analysis
According to type, the market can be segmented into Absorbable Dural (Spinal) Membrane Patch and Non-absorbable Dural (Spinal) Membrane Patch. The absorbable segment will capture the maximum market share during 2022-2028.
- By Application Analysis
Based on application, the market can be divided into Distribution and Direct Sales. The distribution segment is expected to capture a notable market share through 2028.
Driving Factors
"Growing Popularity of Dural Patches among Clinicians to Aid Growth "
Medical professionals are using dural graft products more frequently as a result of the growing demand for grafts with low side effects and increased functionality by neurosurgeons in hospitals, ambulatory surgery centres, and trauma centers. The primary issues with conventional dural transplants, including immunological reaction and infections, are anticipated to restrain the market's expansion for dural grafts.
Neurosurgeons choose synthetic dura grafts with nanostructures that are bioabsorbable, architecturally similar to real dura mater, and emphasis on low cost alternatives and patient comfort. A Chinese dural graft producer, Medprine, recently introduced ReDura®, a cutting-edge biomimetic-synthetic-absorbable next-generation dural graft made using cutting-edge 3D bio-printing technology. More than 50 nations worldwide are currently marketing ReDura®.
"Increased Federal Funding to Support Expansion"
Due to the widespread use of dural graft-based neurosurgical procedures in these regions, North America and Europe possess a combined revenue share of more than 55% of the global dural graft market. Due to rising healthcare costs and infrastructural changes at specialist hospitals and clinics, developing nations like Brazil, India, and South Africa should present attractive potential for the dural graft industry.
Restraining Factors
"Lack of Proper R&D to Limit Market Potential"
The dural patch market as experienced rapid growth and development over the past few years. However, the market expansion could be hampered by several factors. These factors include high cost of developing new innovative products due to high R&D costs. Limited R&D expenditure could thus hamper the market growth. However, supportive government initiatives could bolster market growth in the coming years.
DURAL PATCH MARKET REGIONAL INSIGHTS
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"Developed Regions Such As North America and Europe to Hold Major Share"
Due to the widespread use of dural graft-based neurosurgical procedures in these regions, North America and Europe possess a combined revenue share of more than 55% of the global dural graft market. Due to rising healthcare costs and infrastructural changes at specialist hospitals and clinics, developing nations like Brazil, India, and South Africa should present attractive potential for the dural graft industry.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Integra LifeSciences
- Medtronic
- B. Braun
- Johnson & Johnson
- Tianxinfu Medical Appliance
- Guanhao Biotech
- ZH-BIO
- Medprin
- Balance Medical
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 336.5 Million in 2022 |
Market Size Value By |
US$ 568.6 Million by 2028 |
Growth Rate |
CAGR of 7.8% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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1. What value is the dural patch market expected to touch by 2028?
The global dural patch market size is expected to touch USD 568.6 million by 2028.
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2. What CAGR is the Dural Patch market expected to exhibit during 2022-2028?
The Dural Patch market is expected to exhibit a CAGR of 7.8% over 2022-2028.
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3. Which are the driving factors of the Dural Patch market?
Rising federal spending to boost market growth
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4. Which are the top companies operating in the Dural Patch market?
Integra LifeSciences, Medtronic, B. Braun, Johnson & Johnson, and Tianxinfu Medical Appliance are among the major Dural Patch market players.