Vascular Graft Market Overview
The global vascular graft market has witnessed a tectonic surge over the past few years due to the surging prevalence of diabetes, cardiac diseases, vascular occlusions, and end-stage renal disease. With the growth in the working population, the prevalence of sedentary lifestyle and unhealthy eating habits have increased. This has further augmented the demand from the vascular graft market across the globe. Surging incidences of vascular disorders, hypertension, high blood sugar, and other factors resulting in blockage of blood vessels are considered primary growth stimulants of the market. Growth in the geriatric population, advancing technologies, and changing lifestyle is predicted to encourage the market growth globally. The global X market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 7.6%, surpassing a valuation of USD 4.14 billion during the forecast period (2017-2023).
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The demand for vascular graft has increased with the advancements made in the field of healthcare. External organizations and healthcare entities are making huge investments for better vascular care. Due to this, vascular graft is likely to experience huge opportunities in the coming years. Treatment of aneurysm, vascular occlusion, and renal failure is also done with vascular graft. This is another factor, which has created commendable opportunities for growth within the global market.
On the contrary, low reimbursement policies and high cost of treatment are some of the major concerns likely to restrict the market in the coming years.
Vascular Graft Market: Segmental Analysis
The vascular graft market has been segmented on the basis of indication, raw material, and end user.
By raw material, the vascular graft market is segmented into EPTFE grafts, polyester grafts, biosynthetic grafts, and polyurethane grafts. Of these, the polyester grafts acquire the major market share among all the other segments.
By indication, the vascular graft market is segmented into peripheral vascular repair, endovascular aneurysm repair, and hemodialysis access. Endovascular aneurysm repair is expected to acquire a major share among all the other segments.
By end user, the vascular graft market is segmented into hospitals and ambulatory surgical centers. Of these, hospitals acquire the major share in the global market and are estimated to retain its dominance in the coming years.
Vascular Graft Market Regional Frontiers
Geographically, vascular graft market spans across Europe, America, Asia Pacific, and the Middle East & Africa.
Considering the global scenario, America is likely to dominate the global market, with North America leading the market. North America is considered a larger market than South America due to technological advancements. The market in the North America region is expanding at a rapid pace owing to the support from the government for research and development activities, presence of industry bigshots, and high availability of medical facilities in the region. Soaring incidences of cardiovascular ailments, presence of reimbursement coverage, incidences of chronic kidney diseases, and diabetes are some of the factors encouraging the regional market’s growth.
Europe is predicted to gain prominence in the global market, mainly due to the presence of well-established healthcare infrastructure. Government funding for R&D, availability of advanced medical facilities, and the existence of industry bigshots are some of the factors influencing the market growth to a large extent.
The Asia Pacific is emerging as the fastest expanding region, with an increasing prevalence of diabetes and cardiovascular ailments. Improving healthcare infrastructure, soaring demand for minimally invasive grafting procedures, and epidemiological transition resulting in premature deaths are promoting the market growth in the APAC.
August 2019: Vascular Graft Solutions has recently declared that the company has received CE Mark approval for its Frame FR external support for AV fistula repair. The company presented its clinical experience data by using the Frame FR system at the Vascular Access Society meeting. The system exhibited stable flow reduction, with flow rates reduced postoperatively in patients who had an average reduction to normal flow.
The players operating in the vascular graft market include Gore Medical (US), Cardinal Health (US), C. R. Bard (US), Terumo (Japan), LeMaitre Vascular (US), Medtronic (Ireland), Endologix (US), B. Braun Melsugen AG (Germany), Cook Medical (US), and Maquet (Germany).
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