The global vascular grafts market size was estimated at USD 5.37 billion in 2021 and it is expected to surpass around USD 8.5 billion by 2030, growing at a CAGR of 5.24% from 2022 to 2030.
Currently synthetic vascular graft materials are used in order to patch the diseased area of the arteries. Vascular grafts can be used in arteries, capillaries or veins. There was a negative impact of the pandemic on vascular graft market as the supply chain distribution system and operations were all halted, there were cancellations or postpones in all of these procedures as the healthcare professionals across the globe are focusing on COVID-19 treatment and all the non essential surgeries were declined.
The increase in the number of chronic kidney diseases and dialysis procedure has led to a growth in the market about a couple of million people take treatment for dialysis across the world so it happens to drive the market for vascular grafts. Increase in the cardiovascular diseases renal diseases and diabetes are driving the market for the vascular grafts. Across the world many deaths occur due to the cardiovascular diseases across many nations. Surgeries related to the heart involve the use of vascular grafts and hence the market is expected to grow during the forecast. The availability of reimbursement policies rising healthcare expenditure and increased demand for the technologically advanced products are offering great opportunities for the growth of this market the use of next generation tissue engineered vascular grafts is also driving the market across the globe. As there is an advancement in the surgical procedure related to the coronary artery the demand for vascular grafts is expected to grow in the coming years.
Report Scope of the Vascular Grafts Market
|Market Size by 2030||USD 8.5 Billion|
|Growth Rate from 2022 to 2030||
CAGR of 5.24%
|North America Market Share in 2021||31%|
|Endovascular Stent Grafts Market Share in 2021||64%|
|Forecast Period||2022 to 2030|
|Segments Covered||Product, Application, End User, Raw Material, Geography|
|Companies Mentioned||Getinge AB, Medtronic PLC, LeMaitre vascular Inc, WL gore and associates, terumo corporation, Shanghai suokang medical implants Co limited, Cook medical|
On the basis of the product, the endovascular stent grafts segment accounted market share of around 64% in 2021. There is an increased growth specially in the treatment of abdominal aortic aneurysm and the increase in these treatments has led to a growth in the market. Increasing demand for thoracic aortic aneurysms has led to the adoption of endovascular stent grafts and this should be a major factor which shall help in the growth of the market. Stent graphs along with the antibiotics can be used in the treatment of mycotic aneurysm. The developments in the endovascular applications will lead to a growth in the endovascular stent grafts market. There is a fast rate of recovery with the use of endovascular grafts also there is a reduction in the hospital stay. Endovascular grafts are less painful when they are compared with the open surgeries so, there is an increasing demand for surgeries across the world.
Peripheral vascular grafts segment is also expected to have a good growth during the forecast. Due to increasing rate of hardening of the arteries and the conditions of renal failure and in order to treat the peripheral artery disease many technical advancements are made and products are developed that would lead to an increase in the demand of this segment in the forecast period.
The cardiac aneurysm segment accounted largest revenue share of around 52% in 2021. As there is an increase in various conditions like high blood pressure rising cholesterol levels the sedentary life style and the growing geriatric population across the globe the cardiac aneurysm segment will grow during the forecast. This segment is expected to grow in the future as the congenital heart disease involves congenital heart surgeries which are carried out using the advanced tissue engineered grafts is in demand. As a result high rate of organ transplant failure there is an increase in the adoption of minimally invasive vascular implants for the surgical reconstruction of cardiovascular diseases.
The demand for cardiac aneurysm products shall grow during the forecast period owing to all of these reasons. As there is unavailability of using grafts in vascular activation disease the demand for vascular occlusion shall help in the growth of the market in this segment. The synthetic grafts which are used in the treatment of vascular occlusion shall help in the growth of the market during the forecast.
Raw Materials Insights
On the basis of the raw material, the polytetrafluoroethylene segment accounted revenue share of 47% in 2021. Polytetrafluoroethylene is used for peripheral bypass procedures as this material adequately interacts with the tissue and it is extremely easy to use. Various technological advancements or modifications in this raw material have also helped in the growth of the market segment.
Apart from the polytetrafluoroethylene segment the polyester segment is also expected to have a significant growth during the forecast. As this material is easily available and it is robust and durable the market is expected to see a growth. The use of polyester vascular grafts has Increased as there is a demand for vascular grafts with small diameters. Therefore this market segment is expected to grow well during the forecast.
North America is the largest market share 31% in 2021 for vascular grafts estrogen increasing health awareness and great health care facilities available across the nations, availability of good health care facilities for the treatment of cardiovascular diseases in this region has helped in the growth of the market adoption of advanced technological procedures and the availability of reimbursement policies have led to the growth in the market. As there is an increase in the development and discoveries of the tissue engineered products which are used in surgeries the market is growing. Constant R&D for the development of biomaterial grafts is providing a great opportunity for the growth of this market. People fear cardiac disorders as there are premature deaths hence the market is expected to grow well during the forecast period.
Asia Pacific region is expected to witness strong growth over the forecast period 2022 to 2030.
Key market players at the vascular grafts market
Segments covered in the report
By Raw Material
By End User
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