- The global vascular graft market is likely to be driven by an increasing number of patients with various cardiovascular disorders such as cardiac arrest and coronary artery disease.
- The global market for vascular graft is predicted to grow due to advances in the development of vascular disease devices.
ALBANY, N.Y., May 20, 2022 /PRNewswire/ -- The value of the global vascular graft market was clocked at US$ 2.6 Bn in 2021. The growth prospects for vascular graft is exhibited through its growth rate, which stands at an estimated CAGR of 5.3% during the forecast period, from 2022 to 2031. The global vascular graft market is likely to attain a valuation of US$ 4.7 Bn by 2031. The need for small-diameter artificial vascular grafts has risen significantly as the prevalence of cardiovascular morbidity and mortality has risen. As a result, the frequency of vascular operations utilizing vascular grafts is increasing. Nevertheless, vascular graft-related problems and size differences are limiting these procedures. Firms can invest more in tissue engineering research and development, which is now being employed to build the optimum synthetic vascular graft for clinical usage.
Due to improvements in innovative technologies for development of novel products and rising demand for vascular operations, the demand for vascular graft is expected to grow at a significant rate during the forecast period. Approximately 400,000 CABG operations are conducted each year, making it the most prevalent major surgical treatment and is predicted to drive market development.
In 2021, North America accounted for 45% of the global vascular graft market. The regional market is expected to develop due to an increase in the occurrence of cardiac illnesses, the existence of significant vascular graft producers, and well-established healthcare infrastructure. Around 500,000 coronary artery bypass grafting (CABG) surgeries are performed in the US each year, rendering it one of the most popular surgical procedures.
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Key Findings of Market Report
- In 2021, the endovascular stent graft category held a considerable market share in terms of product type. Aortic aneurysms can be treated utilizing the endovascular grafting method, which is a less intrusive procedure. An endovascular aneurysm repair (EVAR) can be considered in place of an open aneurysm repair. The need for new stent grafts is growing as a result of these findings.
- Based on the end-user categorization, hospitals are anticipated to account for a significant portion of the global market during the forecast period. Hospitals are the most common places where vascular grafts are used since they are eligible for government funding to cover the huge investment need to be made on the devices and services used during surgery. Hospitals are a top priority for healthcare as well as medical technology firms when it comes to distributing vascular grafts since they are popular places for people of all economic levels to get their hearts tested and treated.
- In terms of revenue, the coronary artery disease category accounted for a significant portion of the global vascular graft market in 2021. Globally, cardiovascular illness is the major cause of mortality. Blood artery constriction or blockages are usually connected with disorders, culminating in tissue damage and diminished blood flow due to inadequate food availability. The yearly death toll from cardiovascular disease is estimated to grow to 23.3 million by 2030. Artificial vascular grafts are advancing as a result of these causes.
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Global Vascular Graft Market: Growth Drivers
- Due to an increase in the frequency of cardiac aneurysms and cardiovascular disorders throughout the world, the need for vascular grafts has increased, resulting in the arrival of multiple new vascular graft manufacturers in the market. By creating vascular grafts for critical limb ischemia therapy, these market players are generating value-grab potential.
- The Asia Pacific vascular graft market is expected to grow at the fastest rate during the forecast period. The number of individuals suffering from cardiovascular problems has increased dramatically in this region. In addition, an increase in the number of people suffering from chronic renal disease, diabetes, end-stage cardiac disease, and other diseases is likely to propel the regional market in the years to come. Furthermore, heart problems that result in early mortality are prone to accelerate growth opportunities in vascular graft in the Asia Pacific region.
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Global Vascular Graft Market: Key Players
Some of the key market players are
- Maquet Holding B.V. & Co. KG (Getinge Group)
- Vascular Graft Solution Ltd.
- W. L. Gore & Associates, Inc.
- B. Braun Melsungen AG
- Heat Medical Europe BV
- LeMaitre Vascular, Inc.
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Global Vascular Graft Market: Segmentation
Product Type
- Endovascular Stent Graft
- Peripheral Vascular Graft
- Hemodialysis Access Graft
- Bypass Graft
- Others
Source
- Synthetic
- Biological
- Biosynthetic
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
Bone Grafts and Substitutes Market: The rising importance of dental treatments has also generated new opportunities for the global bone grafts and substitutes market. Fractures in and around the dental cavity have created several opportunities for vendors operating in the global bone grafts market.
Prosthetic Graft Market: Clinical trials are being undertaken for the development of newer graft possessing mechanical characteristics and functions as closely possible of normal human arteries. This development is estimated to boost the prosthetic graft market significantly.
Graft Delivery Devices Market: The global graft delivery devices market is estimated to observe considerable development over the timeframe of analysis, from 2020 to 2030. Growth of the market is estimated to observed in the augmented spending on the healthcare.
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