Vascular Grafts Market to Expand at a CAGR of 5.0% from 2018 to 2026
Posted by Aniket Ankushrao on May 17th, 2019
According to the report, the global vascular grafts market was valued at US$ 2,010 Mn in 2017 and is projected to expand at a CAGR of 5.0% from 2018 to 2026. Increase in incidence of cardiovascular diseases and peripheral diseases is anticipated to boost the growth of the global market from 2018 to 2026. However, demand for vascular grafts is expected to decline during the forecast period owing to its adverse effects and stringent regulatory guidelines for new product approval. However, surge in government investment in health care infrastructure and strategic alliances among players to penetrate the emerging markets are likely to propel the global vascular grafts market during the forecast period. For instance, in April 2018, Terumo Corporation’s Vascutek merged with Bolton Medical to form a single entity focused on the aortic and vascular implants market.
The endovascular stent grafts segment accounted for the largest market share in 2017. The segment is anticipated to expand at a high CAGR during the forecast period, owing to increase in the number of coronary artery and CKD patients and vascular surgeons preferring graft- and stent- based surgeries. Moreover, endovascular stent graft therapy is a minimally surgical procedure and reduces the recovery time by several days. The hospitals segment held the largest share of the global vascular grafts market in 2017. Rise in awareness about advantages of hospitals such as availability of advanced devices, all levels of treatment for different surgeries, and trained staff boosts the growth of the segment. Additionally, favorable reimbursement facilities provided by hospitals through different Medicare policies also increases patient preference for surgery in hospitals.
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North America held major share of the global vascular grafts market in 2017, supported by high cost of technologically advanced grafts and rise in prevalence of cardiovascular diseases. Moreover, increase in R&D activities for the development of small size vascular grafts to treat small vascular diseases augment the market in the region. According to the American Heart Association (2013), around 400,000 coronary artery bypass grafting (CABG) procedures are performed each year in the U.S. alone.
About the AuthorAniket Ankushrao
Joined: April 25th, 2019
Articles Posted: 338
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