New York, Sept. 15, 2023 (GLOBE NEWSWIRE) -- The Global Vascular Grafts Market size is expected to be worth around USD 5.7 Billion by 2032 from USD 3.1 Billion in 2022, growing at a CAGR of 6.4 % during the forecast period from 2023 to 2032.
A vascular graft is a medical method used in vascular surgery to replace, bypass, or repair damages or diseased blood vessels. Vascular grafts are performed when there is an inadequate bloodstream in the body caused by organ transplantation, hemodialysis, and atherosclerosis. Vascular grafting is usually prepared by bypassing a complete or incomplete blockage in an artery in order to develop low blood to the organ excluded by the diseased artery. The main cause of vascular graft is cardiovascular disease, mainly peripheral artery disease and coronary heart disease.
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Key Takeaway
- By Indication 2022, the endovascular aneurysm repair segment generated a revenue share of 63.8% 2022.
- By Raw Material, the polytetrafluoroethylene segment held the highest market revenue share over the forecast period 2023 to 2032.
- By Application of 2022, the cardiac aneurysm segment dominated the marlet revenue share of 52% in 2022.
- By End-User, the hospital segment held the significant market share,and it is growing at the highest CAGR over the forecast period 2023 to 2032.
- In 2022, North America accounte for the highest revenue share of 35%.
- Europe held a 20% revenue share in 2022.
- Asia-Pacific will grow at a significant CAGR from 2023-2032.
The increasing prevalence of coronary artery diseases is anticipated to drive the growth of the market. Additionally,rise in the number of vascular disorders, such as high blood sugar and hypertension, can propel the vascular grafts market. An increase in government investments in healthcare infrastructure is likely to fuel the market growth over the forecast period.
Factors Affecting the Growth of the Vascular Grafts Market
There are several factors that can affect the growth of the Vascular Grafts Market. Some of these factors include:
- Rising Prevalence of Chronic Diseases: The rising prevalence of chronic diseases and the rising dominance of vascular disorders are the factors that propel the growth of the market.
- Rise in Public-Private Expenditure: Due to the rise in public-private expenditure and the insurance coverage across rural and urban areas drive the market growth.
- Advanced Healthcare Infrastructure: Advanced healthcare infrastructure and developed government policies fuel market growth.
- Rising Number of Dialysis Operations:
Top Trends in Global Vascular Grafts Market
Technological advancements, novel product launches, and the increasing applications in personalized laboratory automation are the trends in the global market. The rise in a number of surgical processes and R&D activities, which help in faster recovery, are driving market growth.
Market Growth
The rise in cardiovascular diseases and diabetes is propelling the growth of the market. The increasing healthcare expenditure and rise in need for technologically developed products are driving the market's growth. The vast R&D activities in the vascular grafts segment and the increase in the incidence of vascular diseases are anticipated to grow rapidly over the forecast period. The rising geriatric population and approval of unhealthy lifestyles are some of the factors fueling the market growth.
Regional Analysis
The vascular grafts market was dominated by North America, which achieved the major revenue share. Owing to the increased prevalence of chronic disease, advanced healthcare facilities and the availability of significant facilities for well-functioning cardiovascular problems have contributed to the development of the market.
Moreover, the Asia-Pacific region is expected to witness fast growth during the projection phase. The region is heavily burdened by the rising amount of patients with cardiovascular disease.
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Competitive Landscape
The competitive landscape of the market has also been identified in this report. Leading companies are adopting several strategies, such as acquisitions & mergers, collaborations, and new product development. Among others, to stay ahead of the competition to develop market revenue share. Some of the main players include
- LeMaitre Vascular, Inc.
- Cook Group, Inc.
- Shanghai Suokang Medical Implants Co, Ltd
- L Gore and Associates, Inc.
- R Bard, Inc.
- Getinge AB
- Medtronic plc
- Terumo Medical Corporation
- Braun Melsungen AG
- Becton, Dickinson, and Company
- Other Key Players
Scope of the Report
| Report Attributes | Details |
| Market Value (2022) | USD 3.1 Billion |
| Market Size in 2032 | USD 5.7 Billion |
| CAGR (2023 to 2032) | 6.4% |
| North America Revenue Share | 35% |
| Europe Revenue Share | 20% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Increasing awareness about the profits of vascular grafts and increasing focus on early detection of disease conditions are other factors anticipated to support market revenue growth during the forecast period. Stressful routines, unhealthy food habits, and alcohol abuse have been leading to the rising prevalence of various diseases, such as diabetes, which is a significant factor for numerous heart diseases. In addition, the market expansion is being driven by an increase in the requirement for minimally invasive procedures that aid in faster recovery as well as a rise in the number of surgical processes and research activities. Bypass surgeries are done in patients suffering from a heart attack, angina pectoris, and coronary artery diseases.
Market Restraints
Strict government regulation regarding the manufacture and use of medical devices and increasing prices of grafts are the factors that can restrain market growth. Product disappointments can have various or even lethal complications in patients above 65 years. Numerous products existing by companies have been recalled from the market owing to product malfunctions or other issues. Additionally, big economic problems and probable complications related to bypass surgeries, such as bleeding and arrhythmias, hinder the market growth.
Market Opportunities
Developing markets offer major growth opportunities for key players functioning in the vascular grafts market. Markets are anticipated to observe high growth in the upcoming years due to their relative policies and the rising burden of aneurysms, as Japan has the largest amount of geriatric individuals, as a rise in the population section will result in the rising occurrence of aortic aneurysms.
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Report Segmentation of the Vascular Grafts Market
Indication Insight
The endovascular aneurysm repair segment accounted for the greatest revenue share. The increasing approval of endovascular aneurysm repair stent grafts, which includes thoracic aortic aneurysms, is the main aspect to the market growth. Moreover, these endovascular stents-grafts are especially usage for the medication of abdominal aortic aneurysms, thereby driving the market growth. In addition, it is projected that a rise in the demand for endovascular stent grafts will result in a shift from traditional open thoracic aorta surgeries to EVAR procedures. Endovascular grafts are less pained than open heart surgeries and aid in quick recovery. Additionally, it reduces hospital stays, which increases its popularity.
Raw Material Insight
The polytetrafluoroethylene segment held the largest market revenue share in 2022,due to its benefits, such as high potency rates and high-pressure tolerance. As a result, they are frequently used in extra-anatomical and peripheral bypass surgeries. In addition, it is expected that technological advancements like PTFE treated with argon plasma for the creation of novel products will accelerate the segment's expansion. Additionally, it is user-friendly and effectively interacts with tissue.
Application Insight
The cardiac aneurysm segment held the highest market revenue share during the forecast period due to the increasing geriatric population and the increasing occurrence of high blood pressure. Additionally, the rise in the use of invasive vascular implants has increased the requirement for cardiac aneurysm products due to the rising rates of organ transplant failure and invasive restoration for cardiovascular diseases.
End-User Insight
The hospital segment has dominated the vascular grafts market and held the greatest market share in 2022 due to the reliability of polyester material. The improved patient management and favorable hospital policies are set to drive hospital revenue share growth over the forecast period.
Market.us has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View a PDF sample report @ https://market.us/report/vascular-grafts-market/request-sample/
Market Segmentation
By Indication
- Hemodialysis Access Graft
- Endovascular Aneurysm Repair Stent Graft
- Abdominal Aortic Aneurysms Repair
- Thoracic Aortic Aneurysm repair
- Peripheral Vascular Graft
By Raw Material
- Polytetrafluoroethylene{PTFE}
- Polyester
- Polyurethane
- Biosynthetic
By Application
- Vascular Occlusion
- Renal Failure
- Coronary Artery Disease
- Cardiac Aneurysm
By End-User
- Ambulatory Surgical Centers
- Hospitals
- Specialty Clinics
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Recent Development of the Vascular Grafts Market
- In March 2021, The Zenith fenestrated endovascular graft is, a medical device that the FDA approved. Due to its effectiveness in treating and diagnosing depilating conditions, this product is anticipated to generate significant sales revenue.
- In June 2020, Artegraft, Inc. was developed by LeMaitre Vascular Inc. This achievement helped in achievement declination of the Artgraft Inc. portfolio of biological vascular grafts.
- In October 2021, Terumo Aortic acknowledged authorization for the abdominal aortic stent grafts. This device will help in the treatment of abdominal aortic aneurysms.
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