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Vascular Grafts Market Expected to Reach $8.1 Billion by 2030 | CAGR of 4.98%

 

Report Code : A02104

quote Alarming rise in prevalence of asthma, improvement in healthcare infrastructure, increase in vascular diseases, increase in geriatric population, rise in number of diabetes patients, and advancement in vascular grafts are expected to notably contribute toward the growth of the global vascular grafts market during the forecast period quote

Onkar Sumant
Manager, Healthcare at Allied Market Research

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According to a new report published by Allied Market Research, titled, Vascular Grafts Market by Product and Medication Class: Global Opportunity Analysis and Industry Forecast, 2021–2030", the vascular graft market size was valued at $4,993.64 million in 2020, and is projected to reach $8,138.68 million by 2030, registering a CAGR of 4.98% from 2021 to 2030.

Vascular grafting is done for the treatment of various vascular complications, such as coronary artery disease (CAD), pulmonary embolism (blood clots), deep vein thrombosis (DVT), chronic venous insufficiency (CVI), and pediatric congenital cardiovascular defects (CCDs). The high blood pressure, cholesterol deposition, cardiac injury, and infections are causative factors for vascular diseases. The diabetes, hypertension, obesity, alcohol consumption, and tobacco smoking are the risk factors for the vascular diseases. The synthetic vascular grafts are made up of expanded polytetrafluoroethylene, Dacron, and polyurethane. However, polyurethane is better able to match the compliance of native vasculature. Hemodialysis access grafts, endovascular aneurysm repair stent grafts, and peripheral vascular grafts are commonly used for vascular grafting procedures.

Factors that drive the growth of the vascular grafts market include rise in number of hospitals, increase geriatric population, and advancement in vascular surgeries. For instance, according to World Population Ageing 2019, a publication by United Nation’s Department of Economic and Social Affairs (DESA), 703 million people are aged 65 years or over globally in 2019. Furthermore, surge of sedentary lifestyle and unhealthy food diet has contributed in the growth of market. Sedentary lifestyle is responsible for deposition of cholesterol in blood vessels.

Moreover, increase in prevalence of hypertension has contributed in the growth of vascular grafts market. Hypertension causes damage to the blood vessels as it adds force to the artery walls and over time, this can damage the blood vessels and lead to more plaque buildup. The narrowed artery limits or blocks the blood flow to the heart muscle. For instance, according to World Health Organization (WHO) in 2021, an estimated 1.28 billion adults aged 30-79 years globally had hypertension.

The vascular grafts market is segmented on the basis of product, raw material, end user, and region.

On the basis of product, the vascular grafts market is divided into hemodialysis access graft, endovascular aneurysm repair stent grafts, and peripheral vascular graft. The hemodialysis access graft segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to the prevalence of vascular diseases.

On the basis of raw material, the vascular grafts market is divided into polyester, polytetrafluoroethylene (PTFE), polyurethane, and biosynthetic. The polyurethane segment dominated the market in 2020, and this trend is expected to continue during the forecast period, due to advantages of polyurethane and better compliance for native vasculature.

On the basis of end users, the market is divided into hospitals and ambulatory surgical centers (ASCs). The hospitals segment dominated the market in 2020, and this trend is expected to continue during the forecast period, due to increase in number of hospitals.

On the basis of region, North America accounted for a majority of the global vascular grafts market share in 2020, and is anticipated to remain dominant during the forecast period due to prevalence of vascular diseases. Asia-Pacific is anticipated to witness lucrative growth, owing to the improvement in healthcare facilities, high population, and government initiatives to provide healthcare service.

Impact of COVID-19 Pandemic on Vascular Graft Market (Pre & Post Analysis)

The COVID-19 outbreak is anticipated to have a negative impact on the growth of the vascular grafts market as most hospitals are not operating due to COVID-19 and the ongoing lockdowns in many countries. The COVID-19 virus has serious and life-threatening impact on patients with cardiac patients. However, a huge number of clinics and hospitals across the globe were restructured to increase the hospital capacity to provide improve healthcare services, and this is expected to increase the diagnosis and surgeries of vascular diseases, which contributes in the market growth.

Key Findings Of Study

  • On the basis of products, the hemodialysis access graft segment was the highest contributor to the vascular grafts market in 2020.
  • On the basis of raw material, the polyurethane segment dominated the market in 2020.
  • On the basis of end users, the hospitals segment dominated the vascular grafts market in 2020.
  • On the basis of region, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

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quote Vascular Graft Market by Product (Hemodialysis Access Graft, Endovascular Aneurysm Repair Stent Grafts, and Peripheral Vascular Graft), Raw Material (Polyester, Polytetrafluoroethylene (PTFE), Polyurethane, and Biosynthetic) and End User (Hospitals and Ambulatory Surgical Centers (ASCs)): Global Opportunity Analysis and Industry Forecast, 2021-2030 quote

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