Technology Evolution on Vascular Graft Market 2019| Top Players: of CryoLife, Cook Medical, Endologix, Inc., Getinge, LeMaitre Vascular, Medtronic

Global Vascular Graft Market is set to exceed USD 3.6 billion by 2024; according to a new research report by Global Market Insights. Rising geriatric population leading to high incidence of aortic aneurysms will remarkably drive market growth over the forecast period. WHO estimates that the geriatric population will rise to 1.5 billion by 2050. This demographic shift is attributable to decline in fertility rate coupled with increasing average life expectancy. Geriatric population is more prone to development of aortic aneurysms and peripheral aortic disease. Rising pervasiveness of thoracic and abdominal aortic aneurysms and peripheral aortic disease among growing geriatric population will favor market growth over the forthcoming period.

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Increasing number of cardiovascular and end-stage renal diseases will spur vascular graft market in upcoming years. High blood pressure, lack of physical exercise and unhealthy lifestyle will in turn increase risk of cardiovascular diseases. According to Center for Disease Control and Prevention (CDC) statistics, cardiovascular disease was the leading cause of mortality in 2015. Rising number of end-stage renal disease owing to high prevalence of obesity will positively impact demand for vascular grafts and hemodialysis access, thereby driving industry growth during the forecast period.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Becton Dickinson
• B. Braun Medical
• B. Braun Group
• JOTEC GmbH a fully owned subsidiary of CryoLife
• Cook Medical
• Endologix, Inc.
• Getinge
• LeMaitre Vascular
• Medtronic
• Terumo Cardiovascular Group
• W. L. Gore & Associates

Unveiling market trends from a geographical perspective:

The U.S. was the dominant region in North American vascular graft market in the year 2017, with an appreciable valuation of $742 million. One of the most significant factors responsible for the U.S. market growth is the fact that the country’s annual healthcare expenditure is perpetually more than that of other developed nations. According to a 2018 report by Peterson-Kaiser, healthcare spending per person in the U.S. in 2016 was well over $10,000, which was 31% higher than the next highest per capita spender – Switzerland.

A 2016 report by the Centers for Disease Control and Prevention (CDC), claims that approximately 50% of the U.S. adult population has at least one major risk factor for cardiovascular disease (CVD). Further, the John Hopkins Institute estimates that the U.S. spends an average $315 billion annually for the treatment of CVDs. In the U.S., an average adult in known to succumb to a heart related disease every 40 seconds, indeed, CVD deaths account for a staggering proportion of annual deaths in the U.S. This is evidence enough to state that the rising prevalence of CVDs and other heart disorders will prove to be a major driving force for the U.S. vascular graft industry. That said, another major propelling factor responsible for the growth of the regional vascular graft market is the availability of several reimbursement policies by Medicaid and Medicare.

While the United States will continue to retain a healthy share of the global vascular graft market, another pivotal regional contender of this business sphere is the Indian sub-continent. According to a 2017 report by the World Heart Federation, non-communicable diseases (NCDs), inclusive of CVDs – were estimated to account for over 60% of total adult deaths in India. The report also claimed that CVDs account for over 26% of these deaths.

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Some of the major contributing factors that have led to the rising occurrence of CVDs in India are the growing number of people succumbing to smoking and alcohol consumption, leading to lifestyle diseases such as hypertension and the like. Apparently, close to 15% of the total Indian population smokes tobacco, 4.3 liters of pure alcohol is consumed per person and over 22% of the total population suffers from hypertension which increases the risk of heart failure, strokes, heart attacks and kidney diseases, as put forth by the World Heat Federation. The growing awareness across the Indian population and the ensuing improvement in healthcare policies will drive India vascular graft market in the forthcoming years.

Indeed, as per estimates, India vascular graft industry will register a CAGR of 7.6% over 2018-2024. Vascular graft market is expected to consolidate its footprints across major geographies across the globe, owing to the robust worldwide prevalence of CVDs and the increasing importance being attributed to ensuring excellent healthcare and treatment to all and sundry. According to Global Market Insights, Inc., the overall market is expected to record a CAGR of 6.3% over 2018-2024, accruing returns close to $3.6 billion by 2024.

Global Market Insights Inc. is a global market research and management consulting company catering to leading corporations, non-profit organizations, universities and government institutions. Our main goal is to assist and partner organizations to make lasting strategic improvements and realize growth targets. Our industry research reports are designed to provide granular quantitative information, combined with key industry insights, aimed at assisting sustainable organizational development.

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This release was published on openPR.