Vascular Grafts Market Global Industry Insights, Trends, Outlook and Opportunity
Posted by Rajkumar on February 22nd, 2019
Vascular Grafts are medical devices used to bypass the infected or diseased blood vessels. Vascular grafts are required to replace injured blood vessels, veins, and arteries and to substitute hard blood vessels or valves. Blood flow is redirected from one place to another by introducing a graft with the help of surgical reconstruction process. These grafts can be synthetic, semi-synthetic or taken from the patient’s body.
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Vascular grafts are majorly used in treatment of cardiovascular diseases by surgical procedures such as bypass grafting. The graft is taken from the patient’s body and surgically inserted at the required site to bypass the damaged or diseased blood vessels. Factors such as smoking, high blood pressure, atherosclerosis, and diabetes lead to chronic heart diseases in turn increasing the demand for effective and life sustaining treatment. Bypass surgeries are performed in patients suffering from coronary artery diseases, angina pectoris, heart attack, atherosclerosis, diabetes, and multiple heart artery blockages.
Rising prevalence of coronary artery diseases is expected to boost the growth of vascular grafts market
According to Centers for Disease Control and Prevention (CDC) in 2016, approximately 8.5 million people in the U.S. had peripheral arterial diseases with healthcare costs accounting for US$ 21 billion annually. Increasing requirement for treatment with bypass surgeries is expected to boost the growth of vascular grafts market.
Age is also a risk factor for coronary artery diseases. In 2015, around 44 million people over age 60 were suffering from coronary artery diseases in the U.S. according to American Heart Association (AHA). Furthermore, according to the AHA in 2017, around 92 million American adults are suffering from cardiovascular diseases, which is expected to fuel the growth of vascular grafts market.
According to National Health Service (NHS) in England, around 20,000 coronary bypass surgeries are carried out annually, which is expected to rise due to changing lifestyle habits leading to chronic cardiovascular diseases, in turn rising demand for the treatment.
Factors such as increasing geriatric population, increasing diabetes prevalence leading to heart diseases, and unhealthy lifestyles are expected to increase the prevalence of cardiovascular diseases, in turn boosting the growth of bypass surgeries and vascular grafts market. Complications in the bypass surgery such as bleeding, arrhythmias and stroke are the restraining factors for the market.
Regional segmentation of the vascular grafts market by Coherent Market Insights comprises North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North America region is expected to dominate the market due to increasing prevalence of lifestyle diseases especially cardiovascular disease, skilled medical professionals coupled with insurance facilities, and increasing geriatric population, which is at a high risk of cardiovascular diseases. Asia Pacific region is expected to show the highest growth rate in the market during the forecast period due to factors such as improving healthcare facilities, increasing awareness towards heart diseases, and increasing diabetes prevalence. In India vascular grafts market is expected to show highest growth rate due to factors such as large customer base, rising awareness through government programs such as World Heart Day, and increasing life expectancy. In 2015, around 30 million people were suffering from cardiovascular diseases in India and the number is expected to increase over the forecast period.
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Key players operating in the vascular grafts market include Medtronic Plc., Vascutek Ltd, W.L. Gore & Associates, Inc., B. Braun Melsungen AG, Terumo Medical Corporation, Artegraft, Bard Peripheral Vascular Inc., LeMaitre Vascular Inc., and Heart Medical Europe BV.
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About the AuthorRajkumar
Joined: February 13th, 2019
Articles Posted: 590
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