The global Vascular Grafts market size is expected to be worth around US$ 4.30 billion by 2028, according to a new report by Vision Research Reports.
The global Vascular Grafts market size was valued at US$ 3.01 billion in 2020 and is anticipated to grow at a CAGR of 7.4% during forecast period 2021 to 2028.
Increasing incidence of cardiac diseases, diabetes, End Stage Renal Disease (ESRD), and vascular occlusions is the major factor responsible for market growth. Sedentary lifestyle and unhealthy eating habits are also expected to boost the product demand over the forecast period.
Endovascular stent grafts dominated the market in 2018 and is expected to be the second fastest-growing segment over the forecast period. Increasing prevalence of cardiovascular aneurysms is the leading cause of rise in demand for endovascular stent grafts. Low levels of physical activity, sedentary lifestyle, and substance abuse are some of the key factors leading to the high prevalence of renal and Cardiac Diseases (CVDs) globally. The impact of these factors is especially high in developed economies, such as North America and Europe. However, it is expected to shift towards emerging regions, such as Asia Pacific and Latin America, owing to changing demographics.
On the basis of product, the market is segmented into hemodialysis access, peripheral vascular, and endovascular stent grafts.Endovascular stent grafts led the overall market in 2018. It is further anticipated to witness a lucrative CAGR over the forecast period owing to increasing number of abdominal aortic aneurysm procedures with less potential of access site complications. Moreover, reduced mortality rate and product and technological advancements, such as Nellix and Fortevo, are expected to have a positive impact on the demand for these products. Peripheral vascular grafts are anticipated to emerge as the fastest-growing product segment with CAGR of 7.0% from 2019 to 2026.
The segment is mainly driven by a wide number of medical applications and improvements, pertaining to the development of intra-operative techniques. Other factors that boost the demand for these products include high prevalence of renal failure and hardening of arteries. Technological and product advancements for the treatment of peripheral arterial disease are also expected to spur demand for peripheral vascular devices. The spiral flow peripheral vascular graft possesses better patency as compared to Polytetrafluoroethylene (PTFE) grafts, which are applicable for reconstruction of damaged blood vessels.
Based on application, the market is segmented into kidney failure, aneurysm, and vascular occlusion. Cardiac aneurysms segment led the market in 2018 due to factors, such as high prevalence of high blood pressure and advent of advanced tissue engineered grafts for pediatric congenital heart surgeries.
Moreover, development of novel prosthetic grafts with improved porosity and efficiency coupled with growing acceptance for these grafts are projected to drive the product demand. Increasing geriatric population and unhealthy lifestyle habits, such as alcohol consumption and smoking, are anticipated to drive the demand for minimally invasive grafting procedures.
On the basis of raw materials, the market is classified into polyester, PTFE, and biological vascular grafts. The PTFE segment led the market in 2018 with a revenue of USD 710.3 million. It is further expected to witness the fastest CAGR over the forecast period. These products are mainly used for ischemic heart disease for patients required to undergo aorta-coronary bypass graft operations. PTFE are fabricated with technically-advanced architecture that results in minimal blood loss and provides maximum protection against delamination. It is also applicable for peripheral bypasses and extra anatomical procedures.
North America led the market in 2018 with a revenue of USD 620.9 million. It is expected to maintain its position in the global market over the forecast period due to high prevalence of diabetes, CVDs, and chronic kidney disease in the region. Presence of reimbursement coverage and availability of advanced healthcare infrastructure are also driving the region’s growth.
Asia Pacific is anticipated to be the fastest-growing and second largest regional market with a CAGR of 7.5% from 2019 to 2026. This growth can be attributed to the improving healthcare infrastructure and increasing incidences of CVDs and diabetes in the region. Moreover, rapid epidemiological transition that has resulted in high number of premature deaths is expected to boost the demand for minimally invasive grafting procedures during the forecast period. Extensive R&D for new product development due to rising cases of heart failure and resultant need for new biomaterial grafts will also help spur market growth.
Medtronic, plc; LeMaitre Vascular Inc.; Terumo Corp.; Getinge AB; W.L. Gore and Associates, Inc.; Cook Medical, Inc.
Raw Material Outlook
Human Saphenous and Umbilical Veins
Tissue Engineered Materials
The Vascular Grafts market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. 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 provides size (in terms of volume and value) of Vascular Grafts market for the base year 2020 and the forecast between 2021 and 2028. 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.
This report focuses on the global Vascular Grafts market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Vascular Grafts market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Vascular Grafts market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Vascular Grafts capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Vascular Grafts by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Vascular Grafts market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Vascular Grafts market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Vascular Grafts market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Vascular Grafts industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Vascular Grafts market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Vascular Grafts market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Vascular Grafts market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Vascular Grafts market. These factors have benefited the growth of the global market for Vascular Grafts. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Vascular Grafts. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Vascular Grafts are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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