Accurize Market Research published a report on Global Vascular Grafts Market according to which the market was valued at US$ 1.61 billion in 2020 and is predictable to reach US$ 2.75 billion in 2028 which is projected to reach a CAGR of 6.9 % during the forecast period from 2021- 2028.
Rising demand for minimally invasive direct coronary artery bypass procedures is expected to witness the highest growth. Such cases of vascular disorders arise owing to vascular disorders, hypertension, high glucose level in blood among others which blocks blood vessels. Additionally, increasing geriatric population and technological developments account for the market revenue growth during the forecast period.
According to American Heart Association, about 121.5 million people in the U.S. are active with cardiovascular diseases which arise owing to increased blood pressure, peripheral diseases, chest pain, heart attack, and stroke. Increasing customer expenditure, reimbursement policies available for vascular surgeries, and demand for technically advanced products are projected to accumulate higher market percentage share. However, higher treatment costs and hitches related to prosthetic grafts restrain the vascular grafts market growth. Development of innovative solutions by prominent players and embracing strategies involving collaborations, approvals of products by the regulatory authority, partnership enabling its expansion on a competitive edge by supporting end-users for the production further widens the scope of the market expansion.
North America rules the vascular graft market at present owing to high pervasiveness rate of diabetes, cardiovascular diseases, and chronic kidney disease. Accessibility for healthcare infrastructure and availability of reimbursement facilities are driving the growth of this market in North America. Asia-Pacific region provides a lucrative market for the fastest growth owing to rising occurrences of cardiovascular disease, diabetes, and improving healthcare infrastructure.
Endovascular stent grafts segment dominated the market in the year 2020 and accounts for the highest revenue share. Additionally, combining antibiotics and stent-grafts will impart for the substitute treatment of mycotic aneurysm. Advancement of endovascular methods which reduces the need for open aorta surgeries pushes the need for endovascular stent grafts during the forecast period. Additionally, fast recovery with less pain after surgery and reduced hospitalization duration are advantageous thus aiding for their widespread adoption.
Prominent players inducing the Global Vascular Grafts Market among others include:
- W. L. Gore & Associates Inc.
- Maquet Holding B.V. & Co. KG (Getinge Group)
- BD
- LeMaitre Vascular Inc.
- B. Braun Melsungen AG
- Cook Medical
- Medtronic plc
- Artegraft, Inc.
- Vascutek Ltd.
- Vascular Graft Solution Ltd.
- Heat Medical Europe BV
- CryoLife, Inc.
Vascular Grafts Market Segmentation:
By Product
- Endovascular Stent Grafts
- Peripheral Vascular Grafts
- Hemodialysis Access Grafts
- Bypass Grafts
- Others
By Source
- Synthetic
- Biological
- Biosynthetic
By size
- Large
- Small
By End-user
- Hospitals
- Surgery Centers
- Cardia Catheterization Laboratories
- Speciality Clinics
- Others
By Region
- North America
- US
- Canada
- Rest of North America
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe (RoE)
- Asia Pacific
- Japan
- China
- India
- Rest of Asia Pacific
- Rest of the World (RoW)
- South & Central America
- Middle East
- Africa