The global Vascular Grafts Market size is expected to reach USD 2.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.8% from 2021 to 2028. The increasing prevalence of various cardiovascular disorders, such as Myocardial Infarction (MI), Coronary Heart Disease (CHD) or Coronary Artery Disease (CAD), and stroke, coupled with rising demand for minimally invasive surgeries among the patient population is boosting the market growth.
In addition, the market is further driven by a wide
number of medical applications and improvements in the development of
intraoperative techniques. For instance, the number of peripheral artery
procedures increased from 249,350 in 2011 to 280,349 in 2016 in the U.S.,
according to a research study published by the American Roentgen Ray Society.
The COVD-19 pandemic has negatively impacted the country’s growth owing to
recommended deferrals of elective medical procedures globally coupled with
increasing prioritization for COVID-19 treatment.
The endovascular stent-grafts product segment held the
largest revenue share in 2020. The growth of the segment is due to the
increasing prevalence of cardiovascular aneurysms. A sedentary lifestyle,
limited physical activity, and substance abuse are resulting in a high
prevalence of renal and cardiac diseases globally. The impact of these factors
is especially high in developed regions such as North America and Europe.
However, the prevalence of these diseases is expected
to increase in emerging economies, such as Latin America and the Asia Pacific,
owing to changing demographics and rising healthcare expenditure. Key
parameters contributing to market growth in these regions include the
increasing prevalence of cardiac and renal diseases in the geriatric population,
increasing disposable income, and changing lifestyles. On the other hand, the
peripheral vascular grafts segment is anticipated to be the fastest-growing
segment during the forecast period owing to the increasing number of patients
suffering from coronary heart disease across the globe.
The cardiac aneurysm application segment accounted for
the largest revenue share in 2020. It can be attributed to the increasing
prevalence of hypertension, high blood sugar, and other age-related risk
factors. The cardiovascular diseases segment is driven by the rise in the
incidence of coronary artery diseases in the geriatric population and an
increase in risk factors, such as hypertension, diabetes, and obesity in the
adult population. However, vascular occlusion application is expected to be the
fastest-growing segment due to the easy availability of graft procedures,
rising prevalence of vascular occlusive diseases, technological advancements
resulting in the development of novel therapies like warfarin. It supports in
reducing acute ischemia severity post-PTFE grafts occlusion, which, in turn,
minimizes the potential risks associated with prosthetic vascular grafts.
As of 2020, the polytetrafluoroethylene raw material
segment accounted for the majority share. It is anticipated to witness the
fastest CAGR during the forecast period. Low risk of degradation and infection
due to polytetrafluoroethylene grafts is a key factor contributing to the
largest share of this segment. For instance, PTFE vascular graft offered by B.
Braun Medical Ltd. has a kink-resistant, uniquely flexible design that is
sufficiently porous, encouraging cellular in-growth, and offers maximum
protection against suture pullout, blood loss, and delamination or tearing.
However, the development of novel vascular grafts, such as the Spider graft,
which are less defective as compared to PTFE, may impede PTFE market growth.
North America dominated the market in 2020. The growth
is attributed to developed healthcare infrastructure, rising geriatric population,
increasing prevalence of various health disorders, and increasing acceptance of
technologically advanced products in the region. On the other hand, MEA is
anticipated to register the fastest growth during the forecast period owing to
the increasing prevalence of diabetes, cardiovascular diseases, and end-stage
kidney and heart failures across the region.
Related Press Release@ Vascular Grafts Market Report
Vascular Grafts Market Report
Highlights
- The market is anticipated to grow well over the forecast period
owing to the introduction of innovative solutions and rising demand for
minimally invasive procedures
- The endovascular stent-grafts product segment dominated the market
in 2020 owing to rising patient preference for minimally invasive
endovascular stent-grafts for the treatment of thoracoabdominal aortic
aneurysm
- The cardiac aneurysm application segment dominated the market in
2020 owing to the rising prevalence of cardiovascular diseases across the
globe
- The polytetrafluoroethylene raw material segment dominated the
market in 2020 majorly due to rising demand for novel engineered
prosthetics and technologically advanced products
- North America dominated the market in 2020 majorly due to developed
healthcare infrastructure and increasing acceptance of novel technologies
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment