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Vascular Graft Market expected huge market opportunities to emerging economies and provide several chances to the key players during the forecast period

03-27-2019 10:34 AM CET | Health & Medicine

Press release from: Allied Market Research

Vascular Graft Market

Vascular Graft Market

Global Vascular Graft Market was valued at $4,192 million in 2016, and is expected to reach $6,218 million by 2023, growing at a CAGR of 5.7% from 2017 to 2023. A vascular graft is a medical device that acts as an artificial blood vessel. They are implanted in the patients with blocked blood vessels to redirect the flow of blood from one area to another. This restores normal flow of blood within the body.

Vascular grafts are medical devices that are used in surgical procedures to redirect blood flow from one area to another by reconnecting blood vessels. Vascular graft surgery is performed in patients with blocked arteries to restore normal blood flow within the body. Increase in incidence of lifestyle-related disorders has fueled the demand for vascular grafts.

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The global vascular grafts market is driven by increase in the prevalence of vascular disorders, high blood glucose level, hypertension, and other risk factors that cause blockage of blood vessels. In addition, sedentary lifestyle, growth in geriatric population, and technological advancements are expected to supplement the market growth during the forecast period. However, increased cost of treatment and complications associated with prosthetic grafts impede the market growth. Conversely, rise in awareness for vascular grafts and huge market opportunities in the emerging economies of Asia-Pacific and LAMEA regions are expected to provide several opportunities to the key market players during the forecast period.

The endovascular aneurysm repair stent grafts segment is expected to maintain its dominant position during the forecast period, owing to the associated benefits of being a minimally invasive procedure as compared to open-chest or open-abdominal aneurysm surgery. This has boosted endovascular aneurysm repair stent grafts market, as the total time required for the surgery is reduced by several days.

The biosynthetic raw material segment is expected to grow at a CAGR of 6.5% during the forecast period, owing to the combination of properties of both synthetic as well as biological materials, which give optimal results.

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Key Findings of the Vascular Grafts Market:
• The polytetrafluoroethylene (PTFE) segment accounted for more than half of the raw materials market share in 2016.
• The endovascular aneurysm repair stent grafts segment accounted for nearly three-fifths share of the global market in 2016, and is expected to grow at a CAGR of 6.2% from 2017 to 2023.
• The hospitals segment accounted for more than half of the end users share in 2016.
• Asia-Pacific is expected to grow at the highest CAGR of 7.5% from 2017 to 2023.

North America accounted for a major share (more than half) in the global market in 2016, and is expected to maintain its dominance throughout the forecast period, owing to the increase in incidence of vascular disorders & renal diseases and rise in patient awareness about the benefits of vascular graft surgery. In addition, high adoption rate of technologically advanced devices and presence of highly sophisticated healthcare infrastructures are expected to offer new growth opportunities to the players in the market.

The list of key players profiled in this report include B. Braun Melsungen AG, C. R. Bard, Inc., Cardinal Health Inc., Cook Medical Inc., Endologix Inc., LeMaitre Vascular, Inc., MAQUET Holding B.V. & Co. KG, Medtronic plc, Terumo Corporation, and W. L. Gore & Associates, Inc.
Other key players in the value chain include Cardiatis S.A., Jotec GmbH, Lombard Medical, Inc., and Nano Endoluminal.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

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