Global vascular grafts sales were valued at USD1.6 billion in 2020. They are expected to grow at a compound annual rate (CAGR of 6.8%) between 2021 and 2028. The market is driven by the rising prevalence of diabetes and cardiovascular diseases. According to the American Heart Association, 121.5 million Americans are suffering from cardiovascular diseases. These include high blood pressure, chest pain and heart attack. The forecast period will see many growth opportunities due to increased customer spending, supportive reimbursement policies for vascular surgeries, as well as a rise in demand for technologically advanced products.
Market growth is expected to be facilitated by the increasing number of Minimally Invasive Direct Coronary Artery Bypass procedures (MIDCAB). According to data released by NCBI in January 2018, Minimally Invasive Cardiac Surgery has seen significant development in China. The data showed that minimally invasive procedures are safe, reproducible, and have acceptable aortic crossing-clamp and Cardiopulmonary bypass (CPB) durations as well as low mortality. These products will be in high demand due to the development of surgical techniques using coronary artery bypass grafts and stents. The development of vascular conduits that are more efficient and porosity-friendly is expected to lead to a significant increase in penetration over the forecast period.
The market has been negatively affected by the COVID-19 pandemic. This can be seen in the declining number of elective procedures as a result of the increased focus by healthcare professionals on COVID-19 patients. Medtronic plc's cardiac and vascular group segment saw a 9.0% decrease in revenue for FY2020 compared to FY2019. The COVID-19 epidemic has posed a constant strain on company operations, supply chains and distribution systems. This includes their ability to conduct research and development, as well as new product launches and services.
The high availability of electrospun polyurethane vascular grafts, which minimize the risk of neointimal formation compared to Expanded Polytetrafluoroethylene (ePTFE), is anticipated to propel the demand for these products over the forecast period. These prosthetic grafts can be used extensively for complex surgical procedures, such as vascular reconstructive surgery, because of the lack of autologous blood vessels, particularly in small cases. The National Library of Medicine published an August 2017 article stating that polyurethane arteriovenous grafts offer the advantages of high patency rates, early cannulation with infections, pseudoaneurysm formation, and low latency. According to another article by the National Library of Medicine, PU grafts are more biocompatible in vitro than other prosthetic grafts. These factors will drive market growth over the next few years.
Outlook after COVID
From 2019 to 2020, the global market for vascular grafts declined by 1.9%
Market growth is expected to be between 6.0 % and 7.0% over the next five years.
Hospitals have been forced to postpone or suspend elective procedures due to increasing COVID-19 strain and a growing focus on prioritizing COVID-19-associated treatments. This has had a significant impact on the sales of these products.
Market growth will be supported by increased strategic initiatives, the development of new products, and a growing focus on healthcare facilities to develop strategies to resume elective vascular surgery procedures once the pandemic stabilizes.
The global pandemic affected supply chains, production, distribution and other business activities, which in turn has adversely impacted market growth.
In the next few years, their acceptance will be driven by rising health care costs and a growing demand for minimally invasive procedures.
Industry players will also be able to introduce new innovative solutions and adopt various strategies such as Mergers and acquisitions (M&A), collaborations and product approvals. It will increase its reach to keep its competitive edge and support end-users in providing value-based care. These players have adopted the following strategies:
TVA Medical, Inc. was acquired by BD in July 2018. This acquisition allowed BD to offer everlinQ endoAVF systems, which were expected to improve its ability to serve physicians and patients. It also offered a minimally invasive option to create critical AV fistulas in hemodialysis procedures.
C. R. Bard, Inc. was acquired by BD in December 2017. The acquisition was intended to increase the company's leadership position in medication management and infection prevention, as well as expand the solutions portfolio across the care continuum. It also aimed at expanding growth opportunities beyond the U.S.
Up Market Research published a new report titled “Vascular Grafts Market research report which is segmented by Application (Cardiac AneurysmKidney FailureCoronary Artery DiseaseRaw Material (Polyurethane, Kidney Failure, By Raw Material Polyester, Coronary Artery Disease, Cardiac Aneurysm), By Players/Companies LeMaitre Vascular Inc, Shanghai Suokang Medical Implants Co Ltd, CR Bard; WL Gore and Associates Inc, Medtronic plc, Getinge AB, Terumo Corporation, Cook Medical”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Vascular Grafts Market Research Report|
|By Application (Cardiac AneurysmKidney FailureCoronary Artery DiseaseRaw Material||Polyurethane, Kidney Failure, By Raw Material Polyester, Coronary Artery Disease, Cardiac Aneurysm|
|By Companies||LeMaitre Vascular Inc, Shanghai Suokang Medical Implants Co Ltd, CR Bard; WL Gore and Associates Inc, Medtronic plc, Getinge AB, Terumo Corporation, Cook Medical|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||207|
|Number of Tables & Figures||145|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Cardiac AneurysmKidney FailureCoronary Artery DiseaseRaw Material (Polyurethane, Kidney Failure, By Raw Material Polyester, Coronary Artery Disease, Cardiac Aneurysm).
Some of the companies that are profiled in this report are:
Vascular Grafts Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Vascular Grafts Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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