A prominent research firm, Cognizance Market Research added a cutting-edge industry report on the “Global Vascular Graft Market”. The report studies the current as well as past growth trends and opportunities for the market to gain valuable insights during the forecast period from 2023 to 2030.
Global Vascular Graft Market Analysis
According to cognizance market research, the global vascular graft market was valued at US$ 1,718.9 Million in 2022 and is anticipated to reach US$ 2,936.3 Million by the end of 2030 with a CAGR of 6.9% from 2023 to 2030.
What is Vascular Graft?
Vascular surgery involves rerouting a narrowed or blocked artery to re-establish blood flow to a particular organ (such as the heart, brain, limb, etc.). To provide another route for the blood flow, surgeons join a healthy artery to the restricted artery beyond the stopped location using a synthetic or natural graft.
A vascular graft is a surgical operation that reconnects the blood vessels to direct blood flow from one place of the body to another. Vascular grafting is most frequently performed to get around an obstruction in an artery, either completely or partially, to increase blood flow to the organ that is fed by the sick artery. These grafts have a diameter that varies from 5-8 mm. Vascular grafts are divided into synthetic and natural categories based on their origin.
When there aren’t enough of these grafts available due to the prevalence of other vascular illnesses or failures including dilatation, suture failure, faults in the grafts, bleeding, and infection, it is preferable. Dacron, polyurethane, and expanded Teflon are a few examples of synthetic grafts. It possesses qualities including saturability, compliance, biodegradability, and porosity.
Global Vascular Graft Market Outlook
In the Vascular graft report, the market outlook segment mainly includes important dynamics of the market which include drivers, restraints, opportunities, and challenges tackled by the industry. Opportunities and challenges are extrinsic factors whereas, drivers and restraints are intrinsic factors of the market.
The surgical process for vascular grafts is helpful for cardiovascular disorders, particularly peripheral artery diseases (PAD) and coronary heart diseases, which can drive the market’s growth. These are some of the elements that have contributed to the market’s expansion. During the projected period, the aging global population, the adoption of unhealthy lifestyles, and technological advancements will all contribute to the growth of the global vascular graft market.
The global vascular graft market may also benefit from an increase in vascular diseases, hypertension, and excessive blood sugar. Additionally, a rise in the incidence of CVD therapy failures, including surgical reconstructive failures, organ transplant failures, and unfavorable results from mechanical devices, is anticipated to increase demand for minimally invasive vascular grafts. The vascular graft industry, however, is anticipated to grow throughout the projected period because of the escalation in government spending on healthcare infrastructure and strategic partnerships formed by industry participants to enter emerging markets.
On account of expanding private and public healthcare infrastructure, health insurance plans across tier-2 and tier-3 cities, and the rise in the prevalence of chronic diseases in developing countries, emerging economies anticipate plenty of opportunities for the companies operating in the vascular graft industry.
The price volatility of grafts and strict government restrictions governing the manufacture and use of medical devices are two major factors that may limit market growth over the projection period. Additionally, it is anticipated that factors including the high cost of surgical procedures, a shortage of educated specialists, and potential complications from bypass surgeries such as arrhythmias and bleeding may restrain market growth to some degree.
Segment Analysis:
The global vascular graft market has been segmented into product, raw material, application, end-user, and geography.
Based on product, the global vascular graft market is segmented into coronary artery bypass grafts, vascular grafts for aorta disease, endovascular stent grafts, peripheral vascular grafts, and hemodialysis access grafts. The market was led by the endovascular stent-grafts product category. The primary reason driving the market growth is the increasing use of endovascular stent grafts to treat aneurysms, including thoracic aortic aneurysms. These endovascular stent grafts are utilized specifically to treat abdominal aortic aneurysms (AAA), which propel growth.
Based on raw material, the market for vascular grafts has been classified into polyester grafts, ePTFE grafts, polyurethane grafts, and biosynthetic grafts. Because of the significant use of this material in vascular grafts and its extended lifespan, polyester grafts are anticipated to hold the biggest market share. Additionally, it is anticipated that during the forecast period, this segment would record the greatest CAGR.
Based on application, the global vascular graft market has been segmented into coronary artery disease, cardiac aneurysm, kidney failure, and vascular occlusion. Due to the increased prevalence of high blood pressure, rising cholesterol levels, sedentary lifestyle, and expanding geriatric population, the cardiac aneurysm sector held the biggest market share. Segment growth is also promoted by improved tissue-engineered grafts used in congenital heart surgery. Additionally, the rise in surgical revisions and failed organ transplants.
Based on end-user, the global vascular graft market has been segmented into hospitals, ambulatory surgical centers, specialized clinics, and others. Hospitals are anticipated to increase at the highest CAGR over the anticipated period. Several variables, including the increase in minimally invasive surgical procedures in hospitals and cardiac centers and the favorable reimbursement environment in most industrialized nations, are responsible for the segment’s rapid rise.
Geographical Analysis:
Based on geography the global vascular graft market has been segmented into five main regions namely, North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.
Due to the region’s growing health consciousness and accessibility to medical facilities for cardiovascular treatment, North America held the greatest market share. The adoption of cutting-edge technical processes and the availability of reimbursement policies are further driving the market’s expansion.
Additionally, technical advancements, discoveries of tissue-engineered goods, and the use of biometric technologies to precisely detect the condition are propelling the development of biomaterial vascular grafts. Over the course of the forecast period, the market is anticipated to be driven by continuous R&D for the creation of grafts using improved biomaterial.
However, during the projected period, Asia Pacific is anticipated to develop at the fastest rate. The growing population of people with cardiovascular problems places a significant load on the area.
The report offers the revenue of the global vascular graft market for the period 2020-2030, considering 2020 & 2021 as historical years, 2022 as the base year, and 2023 to 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the Vascular graft market for the forecast period. The global vascular graft market report provides insights and in-depth analysis into developments impacting enterprises and businesses on a regional and global level. The report covers the global vascular graft market performance in terms of revenue contribution from several segments and comprises a detailed analysis of key drivers, trends, restraints, and opportunities prompting revenue growth of the global vascular graft market.
The report has been prepared after wide-ranging secondary and primary research. Secondary research included internet sources, numerical data from government organizations, trade associations, and websites. Analysts have also employed an amalgamation of bottom-up and top-down approaches to study numerous phenomena in the global vascular graft market. Secondary research involved a detailed analysis of significant players’ product portfolios. Literature reviews, press releases, annual reports, white papers, and relevant documents have been also studied to understand the global vascular graft market. Primary research involved a great extent of research efforts, wherein experts carried out interviews telephonic as well as questioner-based with industry experts and opinion-makers.
The report includes an executive summary, along with a growth pattern of different segments included in the scope of the study. The Y-o-Y analysis with elaborate market insights has been provided in the report to comprehend the Y-o-Y trends in the Vascular graft market. Additionally, the report focuses on altering competitive dynamics in the global market. These indices serve as valued tools for present market players as well as for companies interested in participating in the global vascular graft market. The subsequent section of the Vascular graft report highlights the USPs, which include key industry events (Type launch, research partnership, acquisition, etc.), technology advancements, pipeline analysis, prevalence data, and regulatory scenario.
Global Vascular Graft Market Competitive Landscape
The “Global Vascular Graft Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as –
Key developments in the global vascular graft market-
The report explores the competitive scenario of the global vascular graft market. Major players operating in the global vascular graft market have been identified and profiled for unique commercial attributes. Company overview (company description, Type portfolio, geographic presence, employee strength, Key management, etc.), financials, SWOT analysis, recent developments, and key strategies are some of the features of companies profiled in the global vascular graft market report.
Segmentation:
Global Vascular Graft Market, by Product
Global Vascular Graft Market, by Raw Material
Global Vascular Graft Market, by Application
Global Vascular Graft Market, by End-User
Vascular Graft Market, by Region
Some of the major players operating in the market include Becton Dickinson (C.R. Bard), B. Braun, Cryolife (Jotec), Cook Medical, Endologix, Getinge AB, LeMaitre Vascular, Medtronic PLC, Terumo GmbH, and W.L. Gore & Associates, Inc.
The price volatility of grafts and strict government restrictions governing the manufacture and use of medical devices are two major factors that may limit market growth over the projection period.
North America is the leading region in the global vascular graft market.
Based on product, the endovascular stent sector dominates the market owing to the increasing use of endovascular stent grafts to treat aneurysms, including thoracic aortic aneurysms.
In terms of application, the cardiac aneurysm segment leads the market owing to the rising prevalence of high blood pressure, rising cholesterol levels, sedentary lifestyle, and growing geriatric population.
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