Vascular grafts are used to bypass the infected or diseased blood vessels and are needed to replace injured blood vessels, veins, and arteries or to substitute hard blood vessels or valves. A graft can be introduced using surgical reconstruction process to redirect the blood flow from one place to another. Vascular grafts can be synthetic, semi-synthetic or taken from the patient’s body.
Bypass grafting used in the treatment of cardiovascular diseases is one of the several applications of vascular grafts. The graft is taken from the patient’s body and surgically inserted at the required site to bypass the damaged or diseased blood vessels. Smoking, high blood pressure, atherosclerosis, and diabetes are the major factors leading to increasing cases of chronic heart diseases, thereby promoting adoption of vascular grafts. Bypass surgeries are performed in patients suffering from coronary artery diseases, angina pectoris, heart attack, atherosclerosis, diabetes, and multiple heart artery blockages.
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Increasing incidence of coronary artery diseases is expected to propel growth of the vascular grafts market
Increasing prevalence of coronary artery diseases leads to high demand for bypass surgeries, which is expected to propel the market growth. For instance, according to the Centers for Disease Control and Prevention (CDC) in 2016, around 8.5 million people in the U.S. suffered from peripheral arterial diseases and the healthcare cost for the treatment of the disease accounted for US$ 21 billion, annually.
Increasing geriatric population is also expected to boost growth of the market. For instance, according to American Heart Association (AHA), in 2017, around 92 million adults in the U.S. suffered from cardiovascular diseases. Moreover, changing lifestyle habits can lead to chronic cardiovascular diseases, thereby increasing demand for vascular grafts. For instance, according to the National Health Service (NHS) in the U.K., around 20,000 coronary bypass surgeries are carried out annually.
Other factors that impact growth of the market include increasing incidence of diabetes leading to heart diseases and unhealthy lifestyles.
However, complications in bypass surgeries such as bleeding, arrhythmias, and stroke are expected to restrain growth of the market.
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Vascular Grafts Market Taxonomy
Advancements in graft materials and surgery techniques such as off-pump CABG surgery are driving the growth of vascular grafts market. The global vascular grafts market is segmented on the basis of product type, application, material, end user, and geography.
On the basis of product type, the global vascular grafts market is segmented into:
- Endovascular Stent Graft
- Hemodialysis Access Graft
- Bypass Graft
- Peripheral Vascular Graft
On the basis of application, the global vascular grafts market is segmented into:
- Coronary Artery Disease
- Vascular Occlusion
- Renal Failure
On the basis of material, the global vascular grafts market is segmented into:
- Bovine Vein
- Saphenous Vein
- Ovine Collagen with Polyester
On the basis of end-user, the global vascular grafts market is segmented into:
- Ambulatory Surgical Centers
- Specialty Clinics
Regional segmentation of the vascular grafts market by Coherent Market Insights comprises North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North America region is expected to dominate the market due to increasing prevalence of lifestyle diseases especially cardiovascular disease, skilled medical professionals coupled with insurance facilities, and increasing geriatric population, which is at a high risk of cardiovascular diseases. Asia Pacific region is expected to show the highest growth rate in the market during the forecast period due to factors such as improving healthcare facilities, increasing awareness towards heart diseases, and increasing diabetes prevalence. In India vascular grafts market is expected to show highest growth rate due to factors such as large customer base, rising awareness through government programs such as World Heart Day, and increasing life expectancy. In 2015, around 30 million people were suffering from cardiovascular diseases in India and the number is expected to increase over the forecast period.
Key players operating in the vascular grafts market include Medtronic Plc., Vascutek Ltd, W.L. Gore & Associates, Inc., B. Braun Melsungen AG, Terumo Medical Corporation, Artegraft, Bard Peripheral Vascular Inc., LeMaitre Vascular Inc., and Heart Medical Europe BV.
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