The China Vascular Grafts Market size is expected to reach USD 172.8 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.6% from 2021 to 2028. The increasing prevalence of cardiovascular diseases, diabetes, and end-stage renal disease are the factors driving the market. The rise in the number of people suffering from these conditions is expected to boost the demand for these products in the coming years. In addition, the development of novel technologies, such as tissue-engineered materials, is expected to boost overall revenue over the forecast period. The COVD-19 pandemic has negatively impacted the country’s growth due to the increasing focus on COVID-19 treatment and recommended deferrals of elective medical procedures in the country.
In 2020, the endovascular stent-grafts product segment
held the largest revenue share. The growth in the adoption of minimally
invasive endovascular procedures due to their benefits such as short hospital
stays low mortality rate, and perioperative morbidity, driving the segment
growth. 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 peripheral artery disease
in China.
The cardiac aneurysm application segment accounted for
the largest revenue share in 2020. The increasing prevalence of unruptured
saccular aneurysms, affecting the flow of intracranial arteries, is expected to
boost the adoption of these products over the forecast period. Abdominal Aortic
Aneurysms (AAA) have a worse prognosis in men and have gained considerable
attention in recent years, hence, gender-specific research about the
development of novel products is expected to gain momentum over the forecast
period. On the other hand, vascular occlusion application is expected to be the
fastest-growing segment during the forecast period due to the increasing
prevalence of vascular occlusive diseases and the easy availability of graft
procedures. Technological advancements resulting in the development of novel
therapies, which help to reduce the severity of acute ischemia after occlusion
of PTFE grafts and thereby, minimizing the risks associated with prosthetic vascular
grafts.
As of 2020, the polytetrafluoroethylene raw material
segment accounted for the largest revenue share. It is anticipated to witness
the fastest CAGR during the forecast period. Multiple applications of
polytetrafluoroethylene vascular grafts, such as replacement of diseased
arteries and creation of dialysis access site, along with many players offering
a variety of polytetrafluoroethylene-based products are among factors
supporting overall growth. In addition, easy availability of raw material and
high tensile strength and durability are also responsible for high adoption in
China.
Related Press Release@ China Vascular Grafts Market Report
China Vascular Grafts Market
Report Highlights
- The market is expected to witness significant growth by 2028, owing
to rising demand for minimally invasive procedures and the continuous
introduction of innovative solutions
- The endovascular stent-grafts segment has dominated the market in
2020 due to increasing consumer preference for minimally invasive
endovascular stent-grafts in China
- The cardiac aneurysm application segment dominated the market in
2020 due to the increasing prevalence of cardiovascular diseases in China
- The polytetrafluoroethylene raw material segment dominated the
market in 2020 due to the rise in the number of players offering
polytetrafluoroethylene vascular grafts
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