Vascular Graft Market to Grow with a CAGR of 6.89% through 2028
Rising continuous technological advancements in graft materials and
surgical techniques is expected to drive the Global Vascular Graft Market growth
in the forecast period, 2024-2028.
According to
TechSci Research report, “Vascular Graft Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Vascular Graft Market stood at USD 1.21 billion in 2022 and is
anticipated to grow with a CAGR of 6.89% in the forecast period, 2024-2028. The
global vascular graft market is witnessing significant growth driven by key
market drivers, including the increasing prevalence of cardiovascular diseases,
the aging population, advancements in vascular surgery techniques,
technological innovations in graft materials, increased healthcare expenditure,
growing awareness of vascular health, research and development investments, and
favorable reimbursement policies. Additionally, the global rise in obesity
rates is another significant factor driving the increase in cardiovascular
diseases. Obesity is a well-established risk factor for heart disease, stroke,
and other cardiovascular conditions. As obesity rates continue to climb,
especially in developed countries, the burden of CVDs is exacerbated. This, in
turn, fuels the demand for vascular graft procedures as a therapeutic
intervention to manage and treat these conditions.
While challenges exist, the market's future remains promising as
innovation in graft materials and surgical techniques continues to enhance
patient outcomes and quality of life. The global vascular graft market has
benefited significantly from technological innovations in graft materials.
Traditional graft materials, such as synthetic polymers and autologous grafts,
have been complemented by bioengineered and tissue-engineered vascular grafts.
These innovative grafts aim to mimic the properties of natural blood vessels
more closely, offering improved patency and reduced risks of graft-related
complications. The continuous development of graft materials is revolutionizing
vascular surgery and boosting market growth.
Rising healthcare expenditure, especially in developed countries, has
led to improved access to vascular graft procedures. Insurance coverage and
government healthcare programs contribute to the affordability and
accessibility of these surgeries, allowing more individuals to undergo vascular
graft procedures when needed. This increased financial support has a positive
impact on the global vascular graft market. There is a growing global awareness
of the importance of vascular health and the consequences of untreated vascular
diseases. Healthcare campaigns, educational initiatives, and screenings are
helping individuals recognize the early signs of vascular diseases and seek
timely treatment. This heightened awareness is driving patient and physician
interest in vascular graft procedures as a solution to address vascular issues,
thus contributing to market growth. Pharmaceutical and medical device companies
are making substantial investments in research and development to innovate and
improve vascular graft technologies. These investments aim to create grafts
that are more durable, biocompatible, and resistant to complications, thereby
enhancing patient outcomes. The continuous pursuit of innovative solutions in
vascular graft technology is a crucial driver of market expansion. In many
countries, reimbursement policies and insurance coverage for vascular graft
procedures have become more favorable. These policies ease the financial burden
on patients and encourage them to consider vascular graft surgery when recommended
by healthcare professionals. Favorable reimbursement policies are instrumental
in driving the demand for vascular grafts and boosting market growth.
Browse over XX market data Figures spread through XX Pages and an
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"Global Vascular Graft Market”
The key aspect of
technological advancement in vascular grafts is the development of
bioengineered and tissue-engineered graft materials. These materials are
designed to mimic the properties of natural blood vessels more closely,
reducing the risk of graft-related complications and improving long-term
patency. This innovation has been a game-changer in vascular surgery, offering
patients better outcomes and reduced postoperative complications..
The Global Vascular Graft Market is segmented into Product, Application,
end user, regional distribution, and company.
Based on product, the Global Vascular Graft Market is segmented into Hemodialysis Access Graft, Endovascular
Stent Graft, Peripheral Vascular Graft, and Coronary Artery By-pass Graft. Based
on the Product, the hemodialysis access graft segment emerged as the dominant
player in the global market for Vascular Graft Market in 2022. This is
attributed to the to several compelling factors such as hemodialysis access grafts play a pivotal
role in the management of end-stage renal disease (ESRD). Hemodialysis access grafts serve as a
crucial conduit for creating vascular access points, allowing for efficient
hemodialysis procedures. As the incidence of ESRD continues to rise globally
due to factors like aging populations and the increasing prevalence of
conditions such as diabetes and hypertension, the demand for hemodialysis
access grafts has seen significant growth. Additionally, ongoing innovations in
graft materials and designs have improved the patency and durability of
hemodialysis access grafts, reducing complications and enhancing the overall
effectiveness of these life-saving medical devices.
Based on application, the Global Vascular Graft Market is segmented into Aneurysms, Kidney Failure, Vascular
Occlusion, Coronary Artery Diseases, and Other Applications. Based on the
application, the kidney failure segment emerged as the dominant player in the
global market for Vascular Graft Market in 2022 and is anticipated to grow in
the forecast period. This is attributed to several factors including the rising
incidences of kidney failure. Firstly,
kidney failure is a critical medical condition where vascular grafts play a
pivotal role. Patients with end-stage renal disease often require hemodialysis,
a process that involves the creation of arteriovenous fistulas or grafts to
provide access for dialysis. As the prevalence of kidney diseases and the need
for dialysis treatments increase worldwide, the demand for vascular grafts
designed for kidney failure applications rises in parallel. Furthermore,
advancements in graft materials and techniques have improved the overall
performance and durability of vascular grafts in kidney failure patients. These
innovations enhance the long-term patency and reduce the risk of complications
associated with grafts used in hemodialysis, making them more effective and
reliable.
North America emerged as the dominant player in the global Vascular
Graft Market in 2022, holding the largest market share. This is on account of
several key factors such as a well-developed healthcare infrastructure and a
robust regulatory environment, ensuring high standards of quality and safety
for medical devices like vascular grafts. The region is home to a multitude of
renowned medical institutions and research centers that actively engage in
vascular surgery and related fields, fostering innovation and driving market
growth.Secondly, the increasing prevalence of cardiovascular diseases in North
America has been a significant driver for vascular graft demand. Furthermore,
substantial healthcare spending and favorable reimbursement policies in North
America have encouraged patients to seek timely vascular graft procedures and
healthcare providers to adopt these advanced treatments, boosting market
growth.
Major companies operating in Global Vascular Graft Market are:
- Abbott Laboratories
- Braun Melsungen AG
- Becton, Dickinson and
Company (Bard Peripheral Vascular Inc.)
- Cardinal Health (Cordis
Corporation)
- Cook Medical
- Endologix Inc.
- Getinge Group
- LeMaitre Vascular Inc.
- Medtronic PLC
- Terumo Medical
Corporation.
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“As the world's demographic landscape continues to shift, with a growing
number of individuals entering their senior years, the prevalence of vascular
diseases and conditions associated with aging is expected to rise
substantially. With aging comes an increased
vulnerability to a range of vascular issues, including atherosclerosis,
aneurysms, and peripheral arterial disease. The aging process itself
contributes to weakened vessel walls, reduced elasticity, and the development
of plaques within arteries. The elderly demographic presents a substantial pool
of potential patients requiring vascular graft procedures, as these surgeries
are often necessary to address age-related vascular complications. Vascular
grafts, which are used to replace or repair damaged blood vessels, play a
crucial role in treating these conditions, and their demand is expected to
surge in response to the aging population's healthcare needs. Furthermore,
advancements in healthcare and medical technology have made vascular graft
procedures more accessible and safer for older patients. Minimally invasive
techniques, endovascular interventions, and hybrid surgeries have become more
prevalent, reducing the invasiveness and recovery time associated with vascular
graft procedures. These technologies are expected to drive the growth of the
market.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Vascular Graft Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028 Segmented By Product (Hemodialysis Access
Graft, Endovascular Stent Graft, Peripheral Vascular Graft, Coronary Artery
By-pass Graft), By Application
(Aneurysms, Kidney Failure, Vascular Occlusion, Coronary Artery Diseases, Other
Applications) By Region and Competition”, has evaluated the future growth potential of Global Vascular Graft
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Vascular Graft
Market.
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