Vascular Grafts Market to Reach the Value of US$ 3.7 Bn by 2031, TMR Study
- Increasing incidence of cardiovascular disorders and chronic kidney disorders among the expanding geriatric population underscores growth
- Characteristic of non-invasive surgical procedure, endovascular stent graft accounted for leading share in 2021
WILMINGTON, Del., Nov. 25, 2022 /PRNewswire/ -- The vascular grafts market size is estimated to rise at a CAGR of 5.6% over 2022 to 2031. The rising utilization of technologically advanced vascular graft products can be ascribed to the rising pool of geriatric individuals, who are more susceptible to cardiovascular illnesses. Apart from this, other essential market drivers include increase in the prevalence of various lifestyle related diseases, and growing healthcare expenditure around the world. Moreover, improvement in medical care and technological advancements in healthcare facilities in developing and developed economies are also aiding in the market development.
Vascular Grafts Market – Key Findings of the Report
- Growing Prevalence of Cardiovascular and Lifestyle Related Disorders: Increase in the incidence of different types of lifestyle related diseases, including high blood pressure or hypertension, obesity, and diabetes, is creating increased demand within the market. These conditions are caused by unhealthy lifestyles, eating habits, and lack of exercise. Thus increase in the incidence of lifestyle related disorders such as hypertension, one of the most common lifestyle related diseases in a number of developed economies, creates growing need for hospitalization. This trend leads to growth in the demand for advanced products from the vascular grafts market.
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Vascular Grafts Market – Growth Drivers
- Rising incidence of cardiovascular disorders propels demand for coronary artery bypass products
- Increasing demand for effective and non-invasive surgical procedures drives market growth
- Rise in the number of lifestyle related diseases augments the demand in the vascular graft market
Vascular Grafts Market – Key Players
Competitive landscape of the market is consolidated in nature. This can be ascribed to the presence of a relatively smaller number of leading players operating in the market. Some of the key vascular grafts companies operating in the global market include Becton, Dickinson and Company, Cryolife, Inc., Heart Medical, LeMaitre Vascular, Inc., Vascular Graft Solutions, B. Braun SE, Cook Medical, Inc., W. L. Gore & Associates, Inc., Gentinge AB, Junken Medical Co., Ltd., and Medtronic. Leading vascular grafts manufacturers in the market are focused on adopting various strategies, such as mergers and acquisitions, and product portfolio expansions, to gain a competitive edge over their competitors.
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Vascular Grafts Market: Regional Growth Assessment
In 2021, the North America region accounted for the largest vascular grafts market share. In North America, the United States emerged as the leading country. Rising demand from the United States can be attributed to increasing prevalence of heart disorders and growth in the number of patients in the country. For instance, a study by the United States Centers for Disease Control and Prevention states that approximately one individual dies from cardiovascular diseases every 34 seconds in the nation. It also states that one in every five deaths in the United States is caused by cardiovascular diseases. Furthermore, increasing developments in the clinical trials being conducted in the United States is also positively influencing growth of the North America market.
On the other hand, Asia Pacific is expected to display fastest growth in the vascular grafts market in the coming years. Growing demand from Asia Pacific can be attributed to rising number of deaths caused by cardiovascular diseases (CVD) in countries, such as Indonesia, China, Russia, and India. China dominated the demand within the Asia Pacific market, owing to the high number of deaths caused by CVDs. Apart from this, development of Asia Pacific market is also estimated to be driven by the increasing number of campaigns and programs aimed at spreading awareness regarding vascular graft procedures. This trend is creating an increased demand for products from surgeons in the region.
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Vascular Grafts Market: Segmentation
Vascular Grafts Market, by Product
- Endovascular Stent Graft
- Peripheral Vascular Graft
- Hemodialysis Access Graft
- Bypass Graft
Vascular Grafts Market, by Source
- Polytetrafluethylene (PTFE)
- Polyurethane (PU)
- Bovine Vein
- Saphenous Vein
- Ovine Collagen with Polyester
Vascular Grafts Market, by Size of Vascular Graft
- Large Size Vascular Graft
- Small Size Vascular Graft
Vascular Grafts Market, by Application
- Coronary Artery Bypass
- Vascular Occlusion
- Critical Limb Ischemia
- Renal Failure
Vascular Grafts Market, by End-user
- Ambulatory Surgery Centers
- Cardiac Catheterization Laboratories
- Specialty Clinics
Vascular Grafts Market, by Region
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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