A research study titled, “Vascular Graft Market by Product, Application, and Raw
Material - Global Industry Analysis and Forecast to 2025” published by Crystal
Market Research, states that the vascular graft market is projected to be
around $4.2 billion by 2025.
Vascular grafts are
prosthetic implants that are used to replace, repair or bypass sections of
blood vessels.As the need for coronary vascularization is increasing worldwide,
different strategies have been investigated for blood restoration to the heart.
Vascular grafts are being evaluated for the bypass surgery of the
atherosclerotic coronary arteries. Cardiovascular diseases (CVDs) such as
atherosclerosis can be treated by implantation of vascular grafts with the help
of coronary artery bypass surgery. CVD is a class of diseases which affects
heart or blood vessels. CVDs include stroke, heart failure, congenital heart
disease, angina, arrhythmia and myocardial infarction. The risk factors for
CVDs are high blood pressure, obesity, unhealthy diet, physical inactivity,
tobacco consumption, drinking excess alcohol, smoking, aging, high blood
cholesterol, stress, and depression. CVDs are characterized by chest pain,
tiredness, increasing heartbeat, excessive sweating and difficulty in
breathing. According toa study conducted by American Heart Association in
2017,around 92.1 million Americanadults have some or the other type of CVD. The
study further states that the estimated number of annual new heart attacks in
U.S. is 580,000 with 210,000 incidences of recurrent attacks. Suchhigh
prevalence of CVDs will drive the global market during forecast period.
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Endovascular stent grafts
segment occupied the largest share of the overall market in 2016, due to
factors such as decrease in the level of physical activity, increase in the
consumption of junk food, tobacco and alcohol.Cardiovascular diseases
segmentaccounted for the largest share of the global market in 2016,owing
toincrease in the pervasiveness of hypertension and increase in risk factors
such as high blood sugar and other age related disorders.Polyester based grafts
segment accounted for the major share of the overall market in 2016, due to
factors such as excessive tensile strength, raw material availability and
durability. Biological materials segment is expected to witness fastest growth
during forecast period owing to high adoption rate among users and increase
demand for more biocompatible vascular grafts.
U.S. occupied the largest
share of the North America vascular graft market in 2016, due to factors such
as increase in the healthcare expenditure, advancement in healthcare facilities
andhigh prevalence of cardiovascular disorders. Furthermore, increasing
adoption of technological advanced products will drive the U.S. market during
forecast period.Emerging markets such as China and India arepoised to witness
favorablegrowth during the forecast period due to factors such as rise in
geriatric population andcontinuous improvement in healthcare infrastructure.
Furthermore, government initiatives in India such as “Make in India” encourages
many players to set up manufacturing plants in thecountry, which is set to
stimulate the market growth during forecast period.
Product development is the
major strategy adopted by the key players to sustain the market competition.
For instance, in December 2016, Medtronic obtained CE Mark for its Endurant
II/IIs stent graft system for treating abdominal aortic aneurysm patients.
Some of the key players in
vascular graft market are W.L. Gore & Associates, Inc., Terumo Medical
Corporation, B. Braun Melsungen AG, Vascutek Ltd, Medtronic Plc., ARTEGRAFT,
LeMaitre Vascular Inc., Heart Medical Europe BV, Bard Peripheral Vascular Inc.
and Cook Medical Group.
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Key Findings of the Research
Study:
- Endovascular stent grafts segment accounted for
three-fourth share of the global market in 2016, owing to their wide
adoption in treating aortic disorders caused due to diabetes and
cardiovascular devices.
- Hemodialysis segment is expected to witness high
growth during forecast period owing to increasing prevalence of diabetic
people suffering from kidney related disorders.
- Cardiovascular diseases segment accounted for
one-fourth share of the global market in 2016 owing to rise in incidences
of hypertension, aneurysm, and other age-related disorders.
- Polyester based vascular graft segment held over
one-third market share in 2016. High durability and tensile strength and
easy availability of these grafts will further contribute to the growth of
this segment.
- North America accounted for almost half of the market
share in 2016, owing to presence of large elderly population suffering
from cardiovascular and other disorders.
- Asia-Pacific is expected to grow at fastest CAGR
owing to rise in disposable income of people and increase in demand for
better healthcare infrastructure.
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