Vascular Graft Market Expected to Reach US$3.2 Billion Globally by 2024

Vascular graft is a study of medical science which acts as a substitute for body's natural artery. It acts as a tubular bypass for arteries which have become narrow or blocked due to plaque or disease processes. The vascular graft can be manufactured from any source whether it is synthetic or biological sources. It is applicable for many applications such as aneurysm, coronary artery disease, renal failure, etc. Increase in cardiovascular disease and diabetes disorders among geriatric population, and demand from vascular surgeons to treat vascular disorders patients with new technologies drives the market growth rate by 2024.

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The Global Vascular graft Market is categorized based on product type, source, application, and by end user. Based on product type, the vascular graft market are further classified into endovascular stent graft, peripheral vascular graft, hemodialysis access graft, bypass graft and others. Endovascular stent graft was a major segment of product type in the vascular graft market, attributed to novel technological platforms, which also enhanced vascular access, and safety due to its unique designs and material cost. This will increase the usage of vascular graft for treatment procedures. Hence, the market is likely to grow due to supply and production of endovascular stent graft by different key players.

Based on source, the market is segmented into synthetic, biological and biosynthetic sources. Synthetic source is accounted to hold the largest market share in 2015, due to constant rise in demand of vascular graft by the vascular surgeons for treating vascular patients with serious ailment. The segment is expected to continue to dominate the vascular graft market by 2024. By application, the market are further segmented into coronary artery disease, aneurysm vascular occlusion, renal failure and others. Coronary artery disease is likely to dominate the vascular graft application segment by 2024 due to increase in number of incidences of cardiovascular diseases. By end-user, the market are further segmented into hospitals, ambulatory surgical centers, cardiac catheterization laboratories, specialty clinics, and others. The hospital segment dominated the vascular graft market in 2015, and is expected to continue to dominate the market by 2024. Increasing investments of manufacturers on the development of novel diagnostic and surgical platforms in order to cater to the needs and demands for patients, increasing prevalence of cardiovascular disease and disorders, hypertension, aneurysm and renal failure are the drivers responsible for the remarkable market growth of the segment.

The major players in the vascular graft market are – W. L. Gore & Associates, Inc., C.R. Bard, Inc., MAQUET Holding B.V. & Co. KG (Getinge Group), Cook Medical, Inc., B. Braun Melsungen AG, Medtronic plc, LeMaitre Vascular, Inc., Vascutek Ltd. (Terumo Company), and others.

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