According to Vision Research Reports, the global vascular grafts market size surpassed at US$ 2.2 billion in 2019 and to reach US$ 3.2 billion by 2027 with a CAGR of 5.3% from 2020 to 2027.
Growing demand for minimally invasive implants is anticipated to drive vascular graft market growth over the forecast period. Increased number of treatment failures for cardiovascular diseases, which includes organ transplantation failure, surgical reconstruction, and adverse results due to mechanical devices will further stimulate demand for minimally invasive vascular implants. Increasing demand from patients for technologically advanced novel products for vascular disease is expected to increase demand for vascular grafts. For instance, new technology devices are being introduced to meet clinical need for off-shelf small diameter vascular grafts with superlative properties of the autologous vessel. Such factors will drive industry growth over the forecast timeframe.
Increase in incidence of cardiovascular diseases and peripheral diseases is anticipated to boost the growth of the global market from 2020 to 2027. However, demand for vascular grafts is expected to decline during the forecast period owing to its adverse effects and stringent regulatory guidelines for new product approval. However, surge in government investment in health care infrastructure and strategic alliances among players to penetrate the emerging markets are likely to propel the global vascular grafts market during the forecast period. For instance, in April 2018, Terumo Corporation’s Vascutek merged with Bolton Medical to form a single entity focused on the aortic and vascular implants market.
Endovascular Stent Grafts Segment to Capture Largest Market Share
The endovascular stent grafts segment accounted for the largest market share in 2019. The segment is anticipated to expand at a high CAGR during the forecast period, owing to increase in the number of coronary artery and CKD patients and vascular surgeons preferring graft- and stent- based surgeries. Moreover, endovascular stent graft therapy is a minimally surgical procedure and reduces the recovery time by several days.
Large Size Vascular Graft Segment to Account for Largest Market Share
In term of size of vascular graft, the large segment is projected to account for the largest market share during the forecast period owing to the wide usage of larger grafts of diameter above 6mm in the treatment of vascular diseases due to its high patency and flexibility.
Hospitals Segment to Account for Significant Market Share
The hospitals segment held the largest share of the global vascular grafts market in 2019. Rise in awareness about advantages of hospitals such as availability of advanced devices, all levels of treatment for different surgeries, and trained staff boosts the growth of the segment. Additionally, favorable reimbursement facilities provided by hospitals through different Medicare policies also increases patient preference for surgery in hospitals.
North America Market to be driven by Rise in Vascular Surgeries, especially in U.S.
North America held major share of the global vascular grafts market in 2017, supported by high cost of technologically advanced grafts and rise in prevalence of cardiovascular diseases. Moreover, increase in R&D activities for the development of small size vascular grafts to treat small vascular diseases augment the market in the region. According to the American Heart Association (2013), around 400,000 coronary artery bypass grafting (CABG) procedures are performed each year in the U.S. alone.
The report analyzes and forecasts the vascular grafts market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2020 to 2027. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global vascular grafts market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the vascular grafts market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of vascular grafts market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
Some of the key players in vascular graft market include Artegraft, B. Braun Melsungen, C.R. Bard, Cook Medical, CryoLife, Heart Medical Europe BV, LeMaitre Vascular, MAQUET Holding, Medtronic, Shanghai Suokang Medical Implants, Vascular Grafts Solutions and others. Industry players are engaged in mergers & acquisitions and partnerships to retain their market share and diversify their product portfolio.
Global Vascular Graft Market: Product Segment Analysis
Global Vascular Graft Market: Raw Material Segment Analysis
Global Vascular Graft Market: End-User Segment Analysis
Global Vascular Graft Market: Regional Segment Analysis
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are: