Market Scenario
Market Research Future (MRFR) asserts that the global vascular graft market is likely to garner USD 4.14 billion, grabbing a CAGR of 7.6% during the forecast period (2017-2023). The surging prevalence of cardiac diseases is likely to favor the market growth during the appraisal period. Vascular grafts are regarded as one of the most prominent prosthetics which are extensively used in vascular and cardiovascular surgeries due to their ability to improve vascular access. They are required to replace injured veins, blood vessels, and arteries and also substitute hard valves and vessels. Vascular grafts are introduced with the help of surgical reconstruction process. The grafts can be synthetic, semi-synthetic, or can be directly taken from the patients; body.
Market Potential and Pitfalls
The vascular grafts market is likely to witness a sturdy growth in the coming years mainly owing to the surging incidences of cardiac diseases among the global population. The increased prevalence of diabetes, end-stage renal disease, hypertension, and cardiac aneurysms are some of the top factors contributing to the growth of the market. Besides such genetic and hereditary factors, an unhealthy lifestyle, consumption of alcohol, and smoking tobacco are estimated to trigger the demand for vascular grafts. The changing lifestyle among the people, rising geriatric population, and the advancing technology has further provided an up thrust to the market’s growth. For instance, technologically advanced equipments are introduced in the market in order to meet the clinical demands for off-shelf small diameter vascular grafts with premium-quality properties of the autologus vessel.
On the contrary, the complications coupled with the high treatment cost associated with the prosthetic grafts are some of the top factors considered to vitiate the market growth in the long run. Moreover, the lack of administrative endorsement is hindering the uptake of vascular grafts, thereby restraining the market to expand.
Global Vascular Graft Market: Segmental Analysis
The global vascular graft market has been segmented on the basis of indication, raw material, and end-user.
By mode of raw material, the global vascular graft market has been segmented into EPTFE grafts, polyester grafts, biosynthetic grafts, and polyurethane grafts. Among these, the polyester grafts segment is considered to command the major share in the global market. The growth can be ascribed to the surging demand for polyester material based grafts due to its several benefits like porousness, high patency, and long lifespan.
By mode of indication, the global vascular graft market has been segmented into peripheral vascular repair, endovascular aneurysm repair, and hemodialysis access. Among these, the endovascular aneurysm repair segment is likely to occupy the major share in the global market. The growth can be ascribed to the increased demand for endovascular aneurysms repair procedures.
By mode of end-user, the global vascular graft market has been segmented into ambulatory surgical centers and hospitals. Among these, the hospitals segment is likely to command the major share owing to the increased number of minimally invasive surgical processes in hospitals coupled with the favorable reimbursement policies especially in the developed economies.
Regional Insights
Geographically, the vascular graft market span across regions namely, Europe, America, Asia-Pacific, and the Middle East & Africa.
Considering the global scenario, the American region is likely to dominate the global market and is likely to retain its pole position in the coming years. North America in this region is the bigger market and is likely to expand its regional market owing to the continuous support from the government for R&D activities. The presence of top market players, high availability of advanced medical facilities, surging incidences of cardiovascular diseases, chronic kidney disease, and diabetes, and the presence of high reimbursement policies are likely to contribute to the market growth in this region.
The European region occupies a significant share in the global market owing to the presence of a well-established healthcare sector. Governments in this region are highly funding for R&D activities which is further supporting its growth. Moreover, the presence of top market players, and the high availability of advanced medical facilities has further encouraged the market’s growth in this region.
The Asia Pacific region is likely to emerge as the fastest expanding market owing to the increased prevalence of diabetes and cardiovascular ailments. The improving healthcare infrastructure, surging demand for minimally invasive grafting processes, and epidemiological transition causing premature death are likely to encourage the market growth during the appraisal period.
Access Report Details @ https://www.marketresearchfuture.com/reports/vascular-graft-market-6647
Industry Updates
April 09, 2019: A team of researchers at North Carolina and Yale -based biotechnology and regenerative medicine company Humacyte have together confirmed that their bioengineered blood vessels evolve into living tissue in patients. They effectively carry out the exact functions as the blood vessels in a patient.
Competitive Dashboard
The prominent players operating in the global vascular graft market comprises Gore Medical (US), Cardinal Health (US), C. R. Bard (US), Terumo (Japan), LeMaitre Vascular (US), Medtronic (Ireland), Endologix (US), B. Braun Melsugen AG (Germany), Cook Medical (US), and Maquet (Germany).
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