The Global Vascular Patches Market is poised to touch USD 6.1 billion at a notable 4.1% CAGR over the predicted years (2018-2023). Vascular patches are utilized in vascular surgeries for closing sutures. In every surgical procedure, the primary closure of sutures needs to be done effectively. Vascular patches are made from synthetic or biological materials and are characterized through excellent biocompatibility. Of the different types, it is the biological vascular patches that are most widely used owing to its various advantages such as excellent biocompatibility, low suture line bleeding, minimum infection rate and ease in use.
Deskbound lifestyle, anxiety, stress and high consumption of junk food are the key causes of cardiovascular diseases. Sedentary lifestyle mirrors the demand for vascular surgeries and hence, patches. Moreover, the increasing number of cases of cardiovascular diseases are supporting the vascular patches market to grow rapidly.
Increasing awareness about the availability of cardiovascular surgical procedures and the emergence of robotically assisted surgeries such as coronary artery bypass, valvuloplasty, and valvular replacement are escalating the vascular patches market to greater heights.
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Furthermore, the demand for optimization of efficacy and safety monitoring along with the technological advancements, are fostering the market growth, recovering patients earlier than the estimated time which is further saving the cost of the hospital stay.
Key Players – Vascular Patches Market
Market Research Future (MRFR) recognizes the following companies as the key players in Vascular Patches Market: There are plenty of large and small market players which operate in this market all over the globe.
Some of the market leaders profiled in the report are
- C.R. Bard, Inc. (U.S.),
- Terumo Corporation (Japan),
- B. Braun Melsungen AG (Germany),
- Maquet (Germany),
- LeMaitre Vascular, Inc. (U.S.),
- W. L. Gore & Associates, Inc. (US),
- CryoLife, Inc. (U.S.),
- Admedus (Australia),
- Labcor Laboratórios Ltda (Brazil),
- Edwards Lifesciences Corporation (U.S.),
- Baxter International Inc. (U.S.)
Innovation, mergers & acquisitions, product launch, and regional expansion remain the key trends for these players to maintain their market positions.
Segments – Vascular Patches Market
The global vascular patches market has been segmented on the basis of material, application, end-user, and regions. By material, the market is segmented into biologic vascular patches and synthetic vascular patches.
Among these, the segment biologic vascular patches account for the major segment, whereas, the synthetic vascular patches segment accounts for the fastest growing segment.
By application, the market is segmented into carotid endarterectomy and open repair of abdominal aortic aneurysms vascular bypass surgery
Out of these, the segment carotid endarterectomy accounts for the largest segment, whereas, the open repair of abdominal aortic aneurysms vascular bypass surgery is the fastest growing segment.
By end-user the market is segmented into hospitals & clinics and ambulatory surgical centers, and others. The segment hospitals & clinics is the largest segment, whereas the ambulatory surgical centers is deemed to be the fastest growing segment.
Regional Analysis – Vascular Patches Market
By region, the market is segmented into the Americas, Europe, Asia-Pacific, and Middle East & Africa. Out of these, the Americas region dominates the market, whereas the Asia Pacific region accounts for the fastest growing region.
Globally North America accounted for the largest share in the Americas vascular patches market. It is expected to grow with a substantial CAGR during the forecast period. Rising prevalence of cardiovascular diseases in the U.S. and Canada along with the high per capita healthcare spending and the growing population are expected to spur the growth of this vertical in the region. Moreover, the rapid uptake of advanced technologies and devices in the surgical process is also an essential driver of the market. The presence of the major manufacturers is fueling the market in the region.
The European region accounts for the second-largest market for vascular patches owing to the factors such as the high per capita healthcare expenses and raising awareness towards advancements in vascular procedures and patches, positively impact the market growth in the region. Also, the resurging economy is playing a vital role in increasing the market value in the region.
Whereas, the Asia Pacific region is emerging as the fastest growing market for vascular patches. Factors such as the growing healthcare sector in highly populated countries such as India and China substantiate the market growth in the region. Furthermore, factors like the increasing geriatric populace, rising cases of patients suffering from chronic coronary diseases, growing awareness about healthcare, influence the market growth positively.
LIST OF TABLES
Table 1 Global Vascular Patches Market Synopsis, 2018–2023
Table 2 Global Vascular Patches Market Estimates And Forecast, 2018–2023, (USD Million)
Table 3 Global Vascular Patches Market, By Region, 2018–2023, (USD Million)
Table 4 Global Vascular Patches Market, By Material, 2018–2023, (USD Million)
Table 5 Global Vascular Patches Market, By Application, 2018–2023, (USD Million)
Table 6 Global Vascular Patches Market, By End User, 2018–2023, (USD Million)
Table 7 North America Global Vascular Patches Market, By Material, 2018–2023, (USD Million)
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LIST OF FIGURES
Figure 1 Research Process
Figure 2 Segmentation For Global Vascular Patches Market
Figure 3 Segmentation Market Dynamics For Global Vascular Patches Market
Figure 4 Global Vascular Patches Market Share, By Material 2017
Figure 5 Global Vascular Patches Market Share, By Application 2017
Figure 6 Global Vascular Patches Market Share, By End User, 2017
Figure 7 Global Vascular Patches Market Share, By Region, 2017
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