A new analysis report on the vascular graft market which is forecasted between 2021 and 2028 has been published by Knowledge Sourcing Intelligence.
The primary factor bolstering the rise of the vascular graft market is the ageing population. Furthermore, the growing prevalence of kidney diseases is also driving the market growth. For instance, according to the National Institute of Diabetes and Digestive Kidney Diseases, over 37 million Americans, that is more than one in seven U.S. adults, are affected with chronic kidney disease (CKD) Also according to the CDC, the prevalence of chronic kidney disease is highest among individuals aged 65 and older, affecting 38% of this demographic, followed by a 12% prevalence among individuals aged 45 to 64 years.
The vascular graft market was valued at US$6.372 billion in 2021 and is anticipated to grow at a CAGR of 6.42% over the forecasted period to reach a market size of US$9.851 billion in 2028.
A vascular graft is a tube-shaped medical tool employed in vascular surgery, serving to substitute, bypass and repair damaged of diseased blood vessels within the body. It’s designed to redirect or restore proper blood flow within the body. They are typically made from synthetic, semi-synthetic and from natural materials. Vascular grafts play a critical role in the treatment of intracranial aneurysms, renal diseases and for cardiovascular care.
The market is observing numerous product launches and advancements. For instance, in May 2022, UC Davis secured a $3 million grant from CIRM for the development of an innovative intelligent vascular graft designed specifically for hemodialysis in individuals. This device integrates a unique molecule to direct the body’s stem cells, with the objective of preventing failures in synthetic vascular grafts. Also, in September 2021, Terumo Aortic announced the launch of the global surgical graft study, PANTHER, which encompasses a thorough evaluation of the company’s knitted and woven surgical grafts, along with cardiovascular patches.
The vascular graft market, based on source, is segmented into three main categories namely Synthetic, Semi-Synthetic and Natural. Synthetic materials are commonly used in vascular grafts due to their durability, resistance to infection, and ability to withstand high pressures.
The vascular graft market is segmented based on indications into four key categories, namely renal disease, cardiovascular, aneurysms and others. Vascular grafts are employed in cardiovascular procedures to bypass or repair diseased or blocked blood vessels, restoring proper blood flow and reducing the risk of cardiovascular complications.
The vascular graft market, based on its end user, is segmented into two main categories namely hospitals and clinics and ambulatory surgical centers. Hospitals and clinics employ vascular grafts in surgical procedures to support proper blood circulation and assist in patients’ recovery.
North America is poised to experience substantial growth. The rise in the ageing population coupled with the Increasing prevalence of vascular diseases in regions like the United States and Canada has propelled the growth of the vascular graft market in the region. For instance, according to data from the United States Census Bureau, between 1920 and 2020, the U.S. population aged 65 and above expanded nearly five times more rapidly than the overall population growth. In 2020, the demographic aged 65 and over comprised 55.8 million individuals, representing 16.8% of the entire United States population.
The research includes coverage of Getinge Group, W.L. Gore & Associates, B. Braun Melsungen AG, LeMaitre Vascular Inc., Abbott Laboratories, Cook Medical, Terumo Medical Corporation, Cryolife, Medtronic PLC, Endologix Inc. as the significant market players in the vascular graft market.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-vascular-graft-market
The market analytics report segments the vascular graft market using the following criteria:
- By Source
- By Indication
- Renal Disease
- By End-User
- Hospital & Clinics
- Ambulatory Surgical Centers
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America