Allied Market Research published a report, titled, “Vascular Graft Market by Product (Hemodialysis Access Graft, Endovascular Aneurysm Repair Stent Graft, and Peripheral Vascular Graft), by Raw Material (Polyester, Polytetrafluoroethylene (PTFE), Polyurethane, and Biosynthetic), and by End-User (Hospitals and Ambulatory Surgical Centers (ASCs)) – Global Opportunity Analysis and Industry Forecast, 2017-2023”. The report states that the global vascular graft market generated $4,192 Million in 2016 and is projected to attain $6,218 Million by 2023, registering a CAGR of 5.7% during the forecast period, 2017-2023.
The growth of the global vascular graft market is driven by an increase in prevalence of risk factors that cause blockage of blood vessels, surge in sedentary lifestyle and geriatric population, improvement of healthcare infrastructure in emerging economies, and technological advancements. However, the high cost associated with treatment and various complications arising from prosthetic grafts hamper market growth. Conversely, increase in patient awareness provide lucrative opportunities to emerging market players, specifically in developing nations.
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The report segments the global vascular graft market by product, raw material, end user, and geography. Based on product, the report sub-segments the market into hemodialysis access graft, endovascular aneurysm repair stent graft, and peripheral vascular graft. The endovascular aneurysm repair stent grafts segment dominated the global market in 2016, accounting nearly three-fifths of the total share. The segment is also expected to maintain dominance throughout the forecast period, owing to the associated benefits of being a minimally invasive procedure as compared to open-chest or open-abdominal aneurysm surgery. The report further bifurcates the market into hospitals and ambulatory surgical centers, with the hospitals segment accounting for more than half of the end users share in 2016.
Based on raw material, the market is categorized into polyester, polytetrafluoroethylene (PTFE), polyurethane, and biosynthetic. The biosynthetic segment is expected to grow at a CAGR of 6.5% during the forecast period, owing to the combination of properties of both synthetic as well as biological materials, which give optimal results. Regionally, North America is expected to maintain its dominance throughout the forecast period, owing to the increase in incidence of vascular disorders & renal diseases and rise in patient awareness about the benefits of vascular graft surgery. Meanwhile, Asia-Pacific is expected to grow at the highest CAGR of 7.5% from 2017 to 2023.
The report also profiles key players involved in the global vascular graft market, such as B. Braun Melsungen AG, C. R. Bard, Inc., Cardinal Health Inc., Cook Medical Inc., Endologix Inc., LeMaitre Vascular, Inc., MAQUET Holding B.V. & Co. KG, Medtronic plc, Terumo Corporation, and W. L. Gore & Associates, Inc. They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
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