Vascular Graft Market Outlook 2030
The global 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. A vascular graft is a surgical procedure that redirects blood flow from one area of the body to another by reconnecting blood vessels. Vascular grafts are used for the surgery of vascular diseases. Vascular disease includes any condition that affects normal blood circulatory system, such as peripheral artery disease (PAD), abdominal aortic aneurysm (AAA), carotid artery disease (CAD), arteriovenous malformation (AVM), critical limb-threatening ischemia (CLTI), pulmonary embolism (blood clots), deep vein thrombosis (DVT), chronic venous insufficiency (CVI), and varicose veins.
The growth of the global vascular grafts market is majorly driven by increase in vascular diseases, such as atherosclerosis, pulmonary embolism, deep vein thrombosis, and other cardiac disorders as well as increase in number of hospitals and surgery centers, which boost the diagnosis and treatment of diseases. For instance, according to the report of the American Heart Association, in 2019, 197.2 million people lived with ischemic heart disease (IHD). In addition, increase in cardiovascular disorders is one of the key drivers of the market. According to the World Health Organization (WHO), an estimated 17.9 million people died from cardiovascular diseases (CVDs) in 2019.
Moreover, advancements in vascular disease devices are anticipated to contribute toward the growth of the market. In addition, new product launches in market further boost the market growth. However, product failure and product recalls are expected to restrict the market growth during the forecast period.
Global Vascular Graft Market Segmentation
The vascular graft market is segmented on the basis of product, raw material, and end users. By product, the market is mainly categorized into hemodialysis access graft, endovascular aneurysm repair stent grafts, and peripheral vascular graft. Endovascular aneurysm repair stent grafts are further subcategorized into abdominal aortic aneurysm (AAA) and thoracic aortic aneurysm (TAA). By raw material, it is categorized in polyester, polytetrafluoroethylene (PTFE), polyurethane, and biosynthetic. By end users, it is divided into hospitals and ambulatory surgical centers (ASCs).
By Product
Endovascular Aneurysm Repair Stent Grafts segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.
By region, the vascular graft market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Arabia, South Africa, and LAMEA).
Segment Review
On the basis of product, the hemodialysis access graft segment dominated the vascular grafts market in 2020, and this trend is expected to continue during the forecast period, owing to increase in cardiovascular diseases. However, the endovascular aneurysm repair stent grafts segment is expected to witness considerable growth during the forecast period, owing to advancements in endovascular grafts therapy.
By Raw Material
Polytetrafluoroethylene Ptfe segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.
On the basis of raw material, the polyurethane segment was the major contributor in 2020 and is expected to maintain its lead during the forecast period, owing to reliability of polyester material. However, the inhaled biosynthetic segment is expected to witness considerable growth during the forecast period, due to development of advanced biosynthetic materials.
On the basis of end users, the hospitals segment was the major contributor in 2020 and is expected to maintain its lead during the forecast period, owing to increase in number of hospitals. However, the inhaled ambulatory surgical centers (ASCs) segment is expected to witness considerable growth during the forecast period, due to rise in number of ambulatory surgical centers.
By End User
Hospitals was holding a dominant position in 2020 and would continue to maintain the lead over the analysis period.
On the basis of region, North America garnered the major share in the vascular graft market in 2020, and is expected to dominate the global market during the forecast period, owing to the rise in prevalence of cardiac diseases, presence of key players for manufacturing of vascular grafts, and well-established infrastructure in the region. However, Asia-Pacific is expected to register the highest CAGR of xx% from 2021 to 2030, owing to increase in the number of hospitals, increase in cardiac surgeries, and high population.
The key players operating in the global vascular graft market include B. Braun Melsungen AG, Becton, Dickinson And Company, Cook Medical, Inc., Cordis, Endologix Inc., Getinge Group, LeMaitre Vascular Inc., Medtronic plc, Terumo Medical Corporation, and W. L. Gore & Associates, Inc.
By Region
Europe was holding a dominant position in 2020 and would continue to maintain the lead over the analysis period.
Key Benefits For Stakeholders
- The report provides an in-depth analysis of the global vascular grafts market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers vascular graft market analysis from 2021 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis of the region assists to understand the regional market and facilitate strategic business planning and determine prevailing opportunities.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global vascular graft market growth.
Vascular Graft Market Report Highlights
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Analyst Review
Vascular grafting is done to bypass a complete or partial blockage in an artery to improve blood flow to the organ supplied by the diseased artery.
The vascular grafts products include hemodialysis access graft, endovascular aneurysm repair stent grafts, and peripheral vascular graft. Hemodialysis access graft dominates the market owing to the increase in vascular diseases.
Factors such as increase in prevalence of cardiovascular diseases, rise in number of hospitals, and advancements in vascular surgeries drive the growth of market. In addition, initiatives taken by the government to treat vascular diseases are expected to drive the growth of the vascular grafts market.
North America is expected to witness the highest growth, in terms of revenue, owing to the rise in prevalence of vascular diseases, the presence of key players for manufacturing and developing of vascular grafts, and increase in number of hospitals and surgical centers, in the region.
However, the high cost associated with vascular surgeries and product failure are expected to hamper the market growth during the forecast period.
The total market value of vascular grafts market is $4993.64 million in 2020.
The forecast period in the report is from 2021 to 2030
The market value of vascular grafts market in 2021 was $5253.31 million
The base year for the report is 2020.
Yes, vascular grafts companies are profiled in the report
The top companies that hold the market share in vascular grafts market are B. Braun Melsungen AG, Becton, Dickinson And Company, Cook Medical, Inc., Cordis, Endologix Inc., Getinge Group, LeMaitre Vascular Inc., Medtronic plc, Terumo Medical Corporation, and W. L. Gore & Associates, Inc.
Asia-Pacific is expected to register the highest CAGR of 4.87% from 2021 to 2030, owing to increase in number of hospitals, and prevalence of cardiac diseases.
The key trends in the vascular grafts market are by an increase in the prevalence of vascular diseases; rise in number of hospitals; and increase in healthcare expenditure of patients.
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