The global vascular graft market size was significantly large in 2022 and is expected to register a double-digit revenue CAGR over the forecast period. Key factors driving market revenue growth are increasing adoption of vascular grafts in hospitals due to rising occurrence of aortic aneurysms and cardiovascular diseases coupled with rapidly increasing geriatric population globally. Vascular graft is a method to surgically treat damaged or diseased blood vessels to restore blood flow by replacing the blood vessels.
Rising awareness about the benefits of vascular graft and increasing focus on early detection of diseases and conditions are other factors expected to continue to support market revenue growth over the forecast period. Stressful lifestyle, alcohol abuse, and unhealthy food habits have been leading to rising prevalence of various diseases such as diabetes, which is a key factor for various heart diseases. Bypass surgeries are performed in patients suffering from heart attack, angina pectoris, atherosclerosis, coronary artery diseases, diabetes, and multiple heart artery blockages. Increasing incidence of heart diseases is expected to support demand for the vascular grafts and drive market growth going ahead.
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Moreover, Increase in number of surgical procedures and research activities, and rise in demand for minimally invasive techniques that helps in faster recovery are propelling market growth.
Furthermore, new product launches, technological advancements, growing laboratory automation, and rising applications of screening in personalized medicines are factors expected to drive market growth over the forecast period.
Stringent government norms and regulations regarding manufacture and usage of medical devices and volatility in prices of grafts are key factors that can restrain market growth over the forecast period. Also, high financial burden for surgical procedures, lack of trained professionals, and potential complications associated with bypass surgeries such as arrhythmias and bleeding is expected to hamper market growth to a certain extent.
The peripheral vascular grafts segment is projected to register a rapid revenue CAGR during the forecast period. This is due to rising incidence of peripheral artery disease, diabetes, high blood pressure, and obesity in developed and developing countries.
Raw Material Outlook:
The polyester grafts segment is projected to register largest market share, mainly due to high demand for this material for production of vascular grafts owing to longer lifespan.
The aneurysms segment is projected to register a robust revenue CAGR among the application segments during the forecast period. Stent graft is regarded more convenient for patients as they allow a minimally invasive alternative to open surgeries.
End Use Outlook:
The hospitals segment accounted for largest revenue share among the end use segments in the global market in 2020. This can be attributed to wide use of primary healthcare centers and hospitals and rising government initiatives for preventive healthcare.
Revenue from the Asia Pacific vascular graft market is projected to register a significantly rapid CAGR over the forecast period. This is due to increasing government initiatives and investments for easy availability of basic healthcare and easy access to primary healthcare centers, especially in emerging economies such as India and China with large population base and high prevalence of patients suffering from diabetes and chronic diseases.
North America is expected to continue to account for majority revenue share due to ongoing development activities in the field of vascular graft devices. The region has well developed hospitals and clinics, as well as trained healthcare professionals and staff.
Companies profiled in the market report
Becton Dickinson (C.R. Bard), B. Braun, Cryolife (Jotec), Cook Medical, Endologix, Getinge AB, LeMaitre Vascular, Medtronic PLC, Terumo GmbH, and W.L. Gore & Associates, Inc. Major companies are adopting various strategies, including mergers, acquisitions, partnerships, and new product development, among others to stay ahead of the competition and expand market footprint and revenue share.
For instance, Endurant II Stent Graft System was introduced by Medtronic for treatment of abdominal aortic aneurysms. This product offers controlled deployment and accurate placement for flexible and kink-resistant delivery of the graft.
The report contains industry analysis of recent developments and trends in the vascular graft market, as well as strategies adopted by key players operating in the market. It also includes collaborations, business contracts, mergers and acquisitions, and joint ventures and a range of other information.
Segments covered in the report:
This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global vascular graft market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global vascular graft market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.
For the purpose of this report has segmented the global vascular graft market on the basis of type, raw material, application, end use, and region:
Type Outlook (Revenue, USD Billion; 2023 – 2032)
- Haemodialysis Grafts
- Coronary Artery Bypass Grafts
- Peripheral Vascular Grafts
- Coronary Stents
Raw Material Outlook (Revenue, USD Billion; 2023 – 2032)
- Polyester Grafts
- Polyurethane Grafts
- Biosynthetic Grafts
Application Outlook (Revenue, USD Billion; 2023 – 2032)
- Coronary Artery Bypass
- Renal Bypass
- Chronic Total Occlusion
End-Use Outlook (Revenue, USD Billion; 2023 – 2032)
- Ambulatory Surgical Centers
- Specialized Clinics
Region Outlook (Revenue, USD Billion; 2023 – 2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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