Global vascular grafts market was valued at US $ XX Mn and expected to grow at 6.05% Compound Annual Growth Rate (CAGR) over the 2020 to 2026.
Market Outline: Vascular Grafts Market
Vascular graft is a tube shaped synthetic material which is surgically implanted into the arteries or veins. These vascular grafts are used for vascular bypass operations or to create the vein access in hemodialysis patients. The size of the tube is depending upon the size of the vein or artery replaced.
Market Dynamics: Vascular Grafts Market
Global vascular grafts market is primarily driven by the increase in the prevalence of vascular diseases due to the lifestyle changes and food habit changes among the populace. In addition, prevalence of the end stage renal diseases, hypertension and cardiac arrhythmias expected to boost the market share furthermore. Moreover, increase in alcohol consumption, tobacco intake are leading to the chronic diseases and expected to increase the demand for the vascular grafts over the forecast period. However, the low reimbursement rates and high cost of the procedures are projected to hamper the growth of market over the coming years.
Market Scope: Vascular Grafts Market
Global vascular grafts market is segmented based on the technology, application, and distribution channel
Based on the product, the market is segmented into the following:
- Bypass Graft
- Endovascular Stent Graft
- Peripheral Vascular Graft
Based on source, the market is segmented into the following:
Based on Application, the market is segmented into the following:
- Vascular Occlusion
- Renal Failure
- Coronary Artery Disease
Based on end user, the market is segmented into the following:
- Ambulatory Surgical Centers
Market Summary: Vascular Grafts Market
Global vascular grafts market is expected to have significant growth rate owing to the increase in R&D in development of the new vascular grafts and expansion of applications. For instance, Medtronic has developed stent graft system Endurant II AAA to treat abdominal aortic aneurysm. Furthermore, market is very dynamic due to the presence of big and small regional market players. Companies are adopting the strategies such as mergers and acquisitions to expand the market share.
Regional Analysis: Vascular Grafts Market
Geographically, global vascular grafts market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America vascular grafts market projected to have the significant growth rate over the forecast period due to the increase in the prevalence rates of diabetes, lifestyle changes and food habits. Furthermore, favorable reimbursement policies and well established healthcare infrastructure projected to drive the market in the region. Asia Pacific vascular grafts market expected to have the fastest growth rate owing to the increase in the incident rates of vascular diseases, diabetes and presence of high patient population. Europe vascular grafts market anticipated to have the notable growth rate over the forecast period owing to the increase in research and development in biomaterials and rise in incidence rate of the cardiovascular diseases and high acceptance of vascular grafts in the region.
Some of the players in the global vascular grafts market include:
- R. Bard Inc. (US)
- Braun (Germany)
- Cook Medical (US)
- Cardinal Health (US)
- LeMaitre Vascular (US)
- Endologix (US)
- Maquet (Germany)
- Medtronic Plc (Ireland)
- Gore Medical (US)
- Terumo Corporation (Japan)
- In April 2018, Terumo Aortic has launched thoracic stent graft system RelayPro to expand the treatment of endovascular aortic repair.
- In January 2014, W.L. Gore & Associates Inc. has launched “Acuseal Vascular Graft” for vascular access.