Regional Information
The bovine pericardium market is dominated by the heart valve market which in 2019 reached US$1959.71b with an estimated CAGR of 9.9% from 2020 to 2027. The overall market for heart valves is expected to reach US$ 4134.4b in 2027. There is estimated growth predicted in mainland China, but CAGR is unreported. China’s aging population will see 400m citizens aged over 60 years old by 2040. The bovine pericardial tissue market in the US is predicted to grow at CAGR of 10.2% which is consistent with the growth of the heart valve market.
Southeast Asia as a specific region doesn’t have macro growth figures available. As a region there is a consistent, country to country increased commitment to health care spending. This observation along with increasing statistics of heart disease facilitate predictions for strong growth in pericardial tissue demand across the region. Indonesia, Japan, Singapore and the Philippines are countries with particularly strong growth forecasts.
Cardiology Specific pericardium information
The cardiology market and in particular the heart valve market has long had the majority share of the pericardium tissue market. The valve market still accounts for 80% of all pericardium harvested for medical use. In interventional cardiology the tissue is also used in grafts and suture line buttressing. In cariology, the main US heart valve manufactures produce 250,000 heart valves annually. Of these 250,000 valves 60% are engineered from bovine tissue valves and 40% are from porcine tissue. Based on the statistics that each heart valve requires 3 pieces of pericardium tissue to construct the leaflets in a TAVR the specific demand requirement is 450,000 pieces of bovine pericardium tissue annually. (Just for valves)
The Opportunity
The worldwide opportunity exists via the documented CAGR of both tissue and valves, the emergence of China’s local bioprosthetic heart valve manufacturing evolution and the documented commitment to healthcare spending combined with the aging population of China.
APS has global strategy and leading edge innovation to be at the forefront of this global market growth.
China Market Growth
Heart valve growth predicted to reach 97,000 valves annually by 2030.
(The overwhelming majority of these valves are locally manufactured).
Local tissue 55% V
Foreign tissue 45%
China is currently sourcing 55% of all tissue from locally grown cattle. Global valve export requires foreign tissue in leaflet manufacture.
China has a 7% of GDP commitment to healthcare spending, equating to $1.2TUS.
The budget is to double this spend by 2030.
APS in China
The APS commitment in China is to have a fully local presence. This commitment extends to the development of localized tissue fixing, fully integrated sales and marketing with information fueled by clinical trials into the durability of locally manufactured bioprosthetic valves.
Our Local Presence
The APS local presence in China is the result of long term industry relationships, combined with a detailed commitment to structure a collaboration with local firm Sunflowers MedTech. Sunflowers CEO Jasmine Shi, their director of Global Sales, Dan Mayberry and the APS CEO Andrew McLean have formulated an all-encompassing blueprint to disrupt the local cardiology device market.
A key element to the existing bio tissue opportunity in China, is a result of floundering quality standards in the supply chain. When working previously to manufacture local valves as many as 17 Bovine Pericardium tissue sacks were being used to create the 3 leaflets for 1 valve. This has been costly and wasteful.
Dr. Shouhan Lee
The Frontier of Innovation
For APS the frontier and our focus will remain on the ever-evolving landscape of MedTech as true innovation lies at the intersection of cutting-edge technology, manufacturing and patient centric solutions. Our mission is to push the boundaries, transforming visionary ideas into life-saving realities.