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Vascular Grafts Market to Witness Widespread Expansion by 2026
Posted: Sep 27, 2019
Global Vascular Grafts Market – Snapshot
Vascular grafts are used to redirect blood flow from one part of the body to another by connecting blood vessels. Vascular grafting surgery is performed to treat ischemia caused by atherosclerosis, organ transplantation, or for vascular access in hemodialysis. However, demand for vascular grafts is anticipated to decline during the forecast period owing to increase in adverse effects like decellularized xenogeneic grafts increase the rate of infection, thrombosis, and aneurysms.
The global vascular grafts market was valued at US$ 2,010.1 Mn in 2017 and is projected to expand at a CAGR of 5.0% from 2018 to 2026 to reach US$ 3,000 Mn by 2026. High incidence rate of cardiovascular diseases, peripheral diseases, and rise in geriatric population are likely to fuel the growth of the global market from 2018 to 2026. Surge in government investment in health care infrastructure and strategic alliances among players to penetrate the emerging markets are expected to propel the global market during the forecast period.
In terms of product, the global vascular grafts market has been segmented into endovascular stent grafts, peripheral vascular grafts, hemodialysis access grafts, bypass grafts, and others. The endovascular stent grafts segment held the largest market share in 2017. Moreover, the segment is anticipated to expand at a high CAGR during the forecast period due to high demand for minimally invasive surgeries and rise in preference for stent grafts to treat atherosclerosis. Based on source, the global market has been classified into synthetic, biological, and biosynthetic.
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The synthetic segment is projected to dominate the global market during the forecast period owing to its good materialistic properties such as flexibility. In terms of size of vascular graft, the global vascular graft market has been bifurcated into large and small. The small segment is expected to expand at a high CAGR due to increase in focus of major players on the development of small size vascular grafts to treat narrow vascular atherosclerosis. Based on end-user, the global market has been divided into hospitals, ambulatory surgery centers, cardiac catheterization laboratories, specialty clinics, and others. The hospitals segment accounted for the largest market share in 2017. The segment is expected to expand at a significant CAGR during the forecast period.
North America is projected to account for major share of the global vascular grafts market from 2018 to 2026, supported by rise in prevalence of cardiovascular diseases and increase in the number of vascular surgeries. According to the Journal of Vascular Surgery (2012), critical limb ischemia is associated with significant cost to the U.S. health care system and is estimated to exceed US$ 3 Bn annually. According to data provided by the American College of Cardiology, more than 130 million adults in the U.S. are anticipated to have some form of cardiovascular diseases (CVD) by 2035, and the total cost of CVD is expected to reach US$ 1.1 Trn in 2035. The vascular graft market in Asia Pacific is likely to expand at a high CAGR during the forecast period due to increase in focus on development of health care infrastructure by both public and private hospitals and high cardiovascular patient pool in countries such as India and China.
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Key companies operating in the global vascular grafts market and profiled in the report include W. L. Gore & Associates, Inc., Maquet Holding B.V. & Co. KG (Getinge Group), BD, LeMaitre Vascular, Inc., B. Braun Melsungen AG, Cook Medical, Medtronic plc, Artegraft, Inc., Vascutek Ltd., Vascular Graft Solution Ltd., Heat Medical Europe BV, and CryoLife, Inc.