Press release
Global Vascular Graft Market Value Anticipated to Reach USD 4.14 billion by 2023 Registering 7.6% CAGR with Key Enhancement and Recent Trends
Global Vascular Graft Market was valued at USD 2.66 billion in 2017 and is anticipated to garner USD 4.14 billion by the end of 2023. The market across the globe is expected to register 7.6% CAGR during the forecast period (2017-2023).
Vascular grafts are considered one of the most prominent prosthetics used in cardiovascular and vascular surgeries owing to their ability to improve vascular access. Increasing prevalence of cardiac diseases, end-stage renal diseases, and growing prevalence of diabetes, coronary artery diseases, cardiac aneurysms, and hypertension are considered some of the major growth factors.
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Global Vascular Graft Market Segmentation Analysis
The global vascular graft market has been segmented on the basis of raw material, indication, end-user, and region.
Based on raw material, the global vascular graft market has been segmented into polyester grafts, EPTFE grafts, polyurethane grafts, and biosynthetic grafts. While polyester grafts hold the major market share among all the segments, biosynthetic graft is considered to be the fastest growing segment.
Based on indication, the global vascular graft market has been segmented into endovascular aneurysm repair, peripheral vascular repair, and hemodialysis access. Endovascular aneurysm repair is considered to be the major segment among all the segments. The peripheral vascular repair segment is expected to be the fastest growing segment.
Based on end-user, the global vascular graft market has been segmented into hospitals and ambulatory surgical centers. Among these, the hospitals hold the major segment and are anticipated to maintain its dominance during the review period. The ambulatory surgical centers are the fastest growing segment across the globe.
Key Players
Notable players of global vascular graft market comprise Cardinal Health (US), Gore Medical (US), Terumo (Japan), C. R. Bard (US), Medtronic (Ireland), LeMaitre Vascular (US), B. Braun Melsugen AG (Germany), Endologix (US), Maquet (Germany), and Cook Medical (US).
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Global Market Regional Insights
Geographically, the vascular graft market span across regions namely, Americas, Europe, Asia-Pacific, and Middle East & Africa.
Among all the regions, the American region is estimated to dominate the global market for vascular graft owing to the high prevalence of cardiovascular diseases in this region. With the increasing incidences of chronic kidney diseases and diabetes, the market is presumed to bolster in the coming years. Moreover, with the availability of state-of-the-art healthcare infrastructure coupled with the presence of reimbursement coverage, the market is set to flourish.
The Asia Pacific region is anticipated to register the fastest market growth owing to the increasing incidences of diabetes and cardiovascular diseases in this region. Moreover, with the improving healthcare infrastructure and epidemiological transition which results in a high rate of premature death, the demand for minimally invasive grafting procedures is likely to trigger.
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