Global Vascular Graft Market is considered to garner USD 4.14 billion during the forecast period (2017-2023). The market is expected to expand at 7.6% CAGR owing to the growing prevalence of cardiac diseases, asserts Market Research Future (MRFR).
Vascular graft is referred to as a medical device which acts as an artificial blood vessel and is incorporated in patients with blocked blood vessels. It directs the blood flow from one area to another and restores the normal blood flow within the body. Hemodialysis access graft, peripheral graft, and endovascular stent graft are the three types of vascular grafts used for treating various vascular disorders such as hypertension and high blood sugar.
Pune, India, November 2018/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Vascular Graft Market.
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The noteworthy players operating the global vascular graft market are Endologix (US), Gore Medical (US), Terumo (Japan), B. Braun Melsugen AG (Germany), Medtronic (Ireland), C. R. Bard (US), Maquet (Germany), Cook Medical (US), LeMaitre Vascular (US), and Cardinal Health (US).
The Global Vascular Graft Market has been segmented on the basis of raw material, indication, end-user, and region.
By mode of raw material, the global vascular graft market has been segmented into polyester grafts, EPTFE grafts, polyurethane grafts, and biosynthetic grafts. Among these, polyester grafts hold the major market share as recent advancements in this segment have enabled its adoption rate. Also, advantages such as blood compatibility and longer lifespan are expected to foster the segment growth. The biosynthetic graft segment is considered to be the fastest growing segment.
By mode of indication, the global vascular graft market has been segmented into endovascular aneurysm repair, peripheral vascular repair, and hemodialysis access. Among these, endovascular aneurysm repair is considered to be the major segment. The growth is attributed to the growing demand for minimally invasive surgical procedures. This segment also offers cost-effective treatment to their patients which further drives the segment. The peripheral vascular repair segment is presumed to be the fastest growing segment.
By mode of end-user, the global vascular graft market has been segmented into hospitals and ambulatory surgical centers. Among these, the hospitals segment is considered to hold the major segment owing to the growing number of minimally invasive surgical procedures in hospitals along with favorable reimbursement policies in developed countries. The ambulatory surgical centers are expected to be the fastest growing segment across the globe.
Drivers and Constraints Impacting the Market
With the growing pervasiveness of aortic aneurysms and cardiovascular diseases along with chronic kidney diseases, the global vascular graft market is considered to flourish during the assessment period. The increasing number of cardiovascular diseases is also likely to boost the market growth in the coming years. Also, the growing prevalence of end-stage renal diseases, coronary artery diseases, diabetes, cardiac aneurysms, and hypertension are some of the other factors considered to influence the market growth. Besides ever-increasing geriatric population, technological advancements in this field are likely to stimulate the market growth. For instance, modern devices are introduced to meet the clinical needs for off-shelf small diameter vascular grafts with high-quality properties of the autologous vessel. This is expected to accelerate the market growth in the coming years.
On the flip side, high cost of cardiovascular surgeries and low reimbursement rate in the developing economies are presumed to restrict the market growth. Moreover, complications such as infection and graft rejection are expected to impede the market growth in the coming years.
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Geographically, the vascular graft market span across regions namely, Americas, Europe, Asia-Pacific, and Middle East & Africa.
Among all the regions, the American region is estimated to dominate the global market for vascular graft owing to the high prevalence of cardiovascular diseases in this region. With the increasing incidences of chronic kidney diseases and diabetes, the market is presumed to bolster in the coming years. Moreover, with the availability of state-of-the-art healthcare infrastructure coupled with the presence of reimbursement coverage, the market is set to flourish.
The Asia Pacific region is anticipated to register the fastest market growth owing to the increasing incidences of diabetes and cardiovascular diseases in this region. Moreover, with the improving healthcare infrastructure and epidemiological transition which results in a high rate of premature death, the demand for minimally invasive grafting procedures is likely to trigger.
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