Vascular Graft Market Classifications, Analysis, Summary, Growth & Forecast 2024
Posted by Yash Chauhan on February 28th, 2019
The Graft is a tube-shaped synthetic material, which is being used to patch injured or diseased area of arteries or veins. It is applied to redirect the flow of blood and restore normal blood flow within the body. The global vascular graft market is rising at a significant pace due to rapid growth in geriatric population increasing prevalence of diabetes and cardiovascular disease and increasing prevalence of smoking. The market has seen a high demand for endovascular aneurysm over the last few years, due to the growing geriatric population and increasing demand for minimally invasive surgical procedures.
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Worldwide vascular graft market has also been subdivided by raw material into polyurethane grafts, polyester grafts, ePTFE grafts, and biosynthetic grafts. Polyester graft holds a significantly larger share in the market due to the high demand for polyester material due to its benefits such as larger lifespan, better absorbency of polyester grafts and high patency.
The global vascular graft market has also been classified by indication into hemodialysis access, endovascular aneurysm repair (EVAR), and peripheral vascular repair. procedures.
The different type of end users are hospitals and ambulatory surgical centers. The hospitals are the biggest end-user category and is expected to exhibit grow the faster growth in demand for the vascular graft products due to promising reimbursement scenario for graft procedures in the developed countries, the increasing prevalence of cardiovascular diseases, increasing prevalence of end-stage renal disease and increasing adoption of a minimally invasive procedure in hospitals.
Due to development of biosynthetic vascular graft is the major trend in the vascular graft market. The demand for biosynthetic graft is rising due to biocompatibility, exceptional re-infection resistance and rising acceptance among patients.
The speedy increase in aging population, increasing the prevalence of cardiovascular diseases, the growing prevalence of vascular disorders, increasing prevalence of diabetes and escalating acceptance of minimally invasive surgeries are the primary growth drivers for the global market.
The main challenge for the new entrants is the survival in capital intensive and highly regulated vascular graft market. In addition, there is less product differentiation offered by current players, which further increases the competition among the existing players.
North America is the biggest vascular graft market due to rising healthcare expenditure, increasing the prevalence of diabetes, increasing government initiatives and increasing research and development.
Few of the other factors leading to the growth of the North American vascular graft market are increasing geriatric population, increasing the prevalence of ESRD, increasing the prevalence of cardiovascular disease and increasing adoption of minimally invasive surgeries.
Asia-Pacific especially India, China, Korea, Japan is observed to witness the fastest growth in the market as the region comprises of largest population and healthcare infrastructure is improving.
Major players in the vascular graft industry are investing in the development of innovative and advance graft products, which is strengthening their position in the market.
Medtronic Plc, Terumo Corporation, Maquet, C. R. Bard, B. Braun Melsungen AG, Lemaitre Vascular, Cardinal Health, Endologix, Cook Medical Inc., and W.L. Gore & Associates Inc., are some of the key players offering vascular graft products.
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About the AuthorYash Chauhan
Joined: February 25th, 2019
Articles Posted: 106
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