From the name itself, it is clear that saphenous vein grafts refers to the medical grafts that are used in the treatment of coronary artery bypass. The role of saphenous vein grafts is to direct the flow of blood from one area of the body to another by reconnecting blood vessels. The saphenous vein grafts are used for a wide range of vascular diseases.
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Coronary bypass procedures are on the rise globally. Factually, more than 9.5 lakh people die of cardiovascular diseases annually. A wide number of medical products are available in the market that facilitate bypassing the infected or diseased blood vessels. According to the Centers for Disease Control and Prevention (CDC), around 8.5 million people in the U.S. had peripheral arterial diseases.
Data Bridge Market Research analyses that the saphenous vein grafts market is expected to undergo a CAGR of 5.40% during the forecast period. This indicates that the market value, which was USD 1.68 billion in 2021, would rocket up to USD 2.56 billion by 2029. “Hospitals” dominates the end user segment of the saphenous vein grafts market owing to the growing number of hospitals especially in the developing economies. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Furthermore, upsurge in the public-private funding for target research activities, high stress levels in young people and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, unhealthy lifestyle of individuals, rising internet penetration rate, growing rate of smoking ongoing product development and commercialization and increasing per capita expenditure on health care will further expand the market's growth rate in the future.
North America dominates the saphenous vein grafts market because of the strong base of healthcare facilities, widespread utilization of medications, increasing occurrence of lifestyle diseases, increasing consciousness regarding the essence of maintaining good health and rising number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, increasing occurrence of lifestyle diseases, large population pool, and the growing demand for quality healthcare in the region.
Some of the major players operating in the Saphenous Vein Grafts Market are CryoLife, Inc. (US), LifeNet Health (US), LeMaitre Vascular, Inc. (US), Boston Scientific Corporation (US), Hancock Jaffe Laboratories, Inc. (US), KARL STORZ SE & Co. KG (Germany), Getinge AB (Sweden), Medtronic (Ireland), Terumo Systems Corporation (Japan), Novartis AG (Switzerland), Pfizer Inc. (US), Merck & Co., Inc. (Germany), Novo Nordisk A/S (Denmark), Amgen Inc. (US), AstraZeneca (UK), F. Hoffmann-La Roche Ltd (Switzerland), Sanofi (France), Johnson & Johnson Services, Inc. (US), GlaxoSmithKline plc (UK), Bayer AG (Germany), Bristol-Myers Squibb Company (US), Abbott (US), Bausch & Lomb Incorporated (US), BD (US) and AbbVie Inc. (US) among others.
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