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Vascular Graft Market Technology 2024 Brief Analysis by Top Manufacturers - Gore, Cook Medical, Endologix, Getinge AB, LeMaitre Vascular, Medtronic PLC, Terumo GmbH
Vascular Graft
Increasing technological advancements for development of innovative vascular grafts Market will favor market growth. For instance, Terumo recently launched Relay Pro Thoracic Stent Graft System. Its innovative design and dual sheath technology meet specific anatomical needs of patients.
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Increasing demand for vascular grafts will lead to market growth during the projected timeframe. High demand is attributable to increase in number of cardiac surgeries and hemodialysis procedure. Aging population coupled with unhealthy lifestyle will drive the need for cardiac surgical procedures. This will positively impact demand for vascular grafts, thereby fostering industry growth during the forecast period.
Endovascular aneurysm repair segment is expected to grow at the rate of 7.0%, owing to increasing influence of minimally invasive therapies. Endovascular aneurysm repair offers advantage of single session cardiovascular surgery. This decreases the overall therapy cost and reduces time spent in hospital, thereby fostering revenue growth.
Hospital segment accounted for largest revenue of USD 1,535.7 million in 2017. Growth is credited to higher number of individuals seeking cardiovascular surgeries and hemodialysis procedures in hospitals. Growing patient pool coupled with introduction of innovative surgical procedures will render positive impact on business growth during the forecast timeframe.
U.S. demographics suggest that about 32% of the U.S. population is aged 50 years and above. Rising number of elder people will lead to increasing burden of cardiovascular diseases. Growing burden of cardiovascular diseases will favor market growth. Favorable healthcare and reimbursement policies coupled with technological advancements will promote market growth in the future.
Prominent industries involved in vascular graft market are Becton Dickinson (C.R. Bard), B. Braun, Cryolife (Jotec), Cook Medical, Endologix, Getinge AB, LeMaitre Vascular, Medtronic PLC, Terumo GmbH and W.L. Gore and Associates.
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China dominated Asia Pacific region with market share of 48.1% in 2017, owing to increasing incidence of end-stage renal disease. Increasing prevalence of end-stage renal disease is attributable to unhealthy diet and lifestyle associated chronic diseases such as obesity and hypertension. High pervasiveness of end-stage renal disease will lead to increased demand for hemodialysis, favoring regional growth in the forecast timeline.
Polyester graft segment accounted for largest revenue of USD 1,457.3 million in 2017. Easy availability and wide array of applications are major factors for its growth. High material compatibility and technological advancements for optimizing polyester vascular grafts will further aid segmental growth in the future.
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Jude Medical, Inc.
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