Home » Building & Construction, Electronics & Semiconductors, Health & Medicine, Manufacturing & Industry, Technology » Vascular Graft Market Revenue Is Expected To Grow Rapidly Owing To Enhanced Demand In Medical Applications Till 2022: Grand View Research, Inc.
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GrandViewResearch.com has announced the addition of “Global Vascular Graft Market Analysis And Segment Forecasts To 2022” Market Research report to their Database

The vascular graft market was worth about USD 1.9 billion in 2014. It is projected to reach around USD 3.6 billion by 2022. Cardiovascular diseases and technological advances in tissue engineered vascular grafts are its drivers. Rising healthcare costs and favorable insurance policies will also augment market growth.

Apart from the aforementioned diseases, the current lifestyle of junk food, alcohol & tobacco consumption, and substance abuse will boost the usage of vascular grafts from 2015 to 2022 (forecast phase). Genetic factors like diabetes would also increase their usage during the same phase. High EVAR (endovascular aneurysm repair) volumes are the key driver of the vascular graft market.

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The market products are coronary artery by-pass grafts, endovascular stent grafts, hemodialysis access, and peripheral vascular. Among these, endovascular stent grafts accounted for over 85% of the market in 2014. Factors attributing to their share are current lifestyles and minimal physical activities.

The vascular graft market is also segmented on the basis of applications. These include diabetes, aneurysm, kidney failures, vascular occlusion, and cardiovascular diseases. Cardiovascular diseases accounted for 25% shares in 2014. This was credited to the high prevalence of blood sugar, hypertension, and age-related illnesses. Cardiovascular diseases result directly from coronary artery diseases, diabetes, and obesity.

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On the basis of raw materials, the vascular graft market is divided into polyurethane, polyester, polytetrafluoroethylene, and biological materials. Polyester had 38% share in the past. Biological materials are sub-divided into human saphenous & umbilical veins and tissue engineered materials. They are preferred more on account of reduced post surgery complications. Biological materials are expected to be the fastest growing raw material in the forecast phase.

The vascular graft market is also split on the basis of regions. These are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America accounted for 50% share in 2014. This was attributed to collaborations between research organizations & manufacturers and advanced healthcare infrastructure. Asia Pacific should be the fastest growing region, with about 10% CAGR in the seven years ahead.

Research facilities and favorable governmental initiatives like ‘Make in India’ targeting cardiovascular diseases will favor this region. Major players of the global vascular graft market comprise Medtronic Plc., Terumo Medical Corporation, Bard Peripheral Vascular Inc., Junken Medical Co. Ltd., and Cook Medical.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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