Europe Vascular Graft Market to Grow with a CAGR of 6.22% through 2028
Increasing demand for the technologically advanced
products and alarming rise in end stage renal disease prevalence is expected to
drive the Europe Vascular Graft Market growth in the forecast period,
2024-2028.
According to TechSci Research report, “Europe Vascular
Graft Market –Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Europe Vascular Graft Market stood at USD 715.48 Million in 2022 and is
anticipated to grow with a CAGR of 6.22% in the forecast period, 2024-2028. Several
factors are propelling the growth of the vascular graft market in Europe. The
increasing prevalence of cardiovascular diseases and diabetes, an expanding
geriatric population, and technological advancements in graft materials and
surgical techniques are primary drivers. Additionally, the rising adoption of minimally
invasive procedures and an increase in healthcare expenditure in the region
contribute to the market's growth. Government initiatives promoting
cardiovascular health also play a significant role in driving the market.
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The Vascular Graft Market in Europe is a rapidly
emerging and thriving sector with significant growth potential. This growth can
be attributed to various factors, including the region's ageing population and
the corresponding increase in vascular diseases. As the population continues to
age, the demand for vascular grafts is expected to rise, as these medical
devices play a crucial role in redirecting blood flow from one area of the body
to another.
A vascular graft is typically used in surgical
procedures when a patient suffers from blocked arteries, which can lead to
severe health complications if left untreated. The prevalence of conditions
such as atherosclerosis and aneurysm, which require the use of vascular grafts,
is on the rise in Europe. In fact, cardiovascular disease (CVD) is currently
the leading cause of death in Europe, accounting for 45% of all deaths. This alarming
statistic further underscores the importance of vascular grafts in the region. Technological
advancements and medical innovations in the field of vascular grafts are also
contributing to the market's growth. Companies are now developing bioengineered
vascular grafts that are proving to be more effective and safer compared to
their traditional counterparts. These innovative grafts are designed to be
fully absorbed by the body, reducing the risk of infection and improving the
long-term success rate of surgeries.
The European vascular graft market is buoyed by high
healthcare expenditure and a well-developed healthcare infrastructure.
Countries like Germany, the UK, and France are at the forefront of vascular
graft surgeries, boasting well-established healthcare systems and higher
healthcare expenditure. This favorable healthcare landscape further supports
the growth of the market in the region. However, the market does face certain
challenges. Stringent regulatory policies for product approval and the high
cost of procedures can pose hurdles to market growth. Additionally, there is a
risk of complications associated with graft implants, including infection,
blockage, and graft failure, which may impede market expansion. Nevertheless,
the overall outlook for the European vascular graft market remains positive.
The market is expected to grow at a robust pace due to the combination of an
ageing population, the increasing prevalence of vascular diseases, continuous
medical advancements, and a strong healthcare system. As companies continue to
innovate and regulations evolve to facilitate more streamlined product
approvals, the future of the vascular graft market in Europe looks promising.
The Europe Vascular Graft Market is segmented into indication,
raw material, end user industry, country distribution, and company.
Based on indication, endovascular Aneurysm Repair
(EVAR) has emerged as the unequivocal leader in the vascular graft market in
Europe, propelled by various factors. Primarily, EVAR stands out due to its
minimally invasive nature, which not only translates to shorter hospital stays
and reduced recovery time but also offers patients the benefit of experiencing
less postoperative pain. This less invasive approach has gained immense
popularity, especially in an aging population where the prevalence of
cardiovascular diseases is on the rise. The demand for efficient and less
stressful surgical procedures like EVAR has surged as patients seek advanced
medical solutions that ensure a smoother road to recovery. Additionally, the
dominance of EVAR in the vascular graft market can also be attributed to the
well-established healthcare facilities and the widespread adoption of advanced
medical procedures in Europe. The presence of state-of-the-art healthcare
institutions equipped with cutting-edge technologies has further bolstered the
prominence of EVAR as a preferred treatment option. With a strong emphasis on
patient care and safety, healthcare providers in Europe continue to prioritize
the adoption of innovative techniques like EVAR to deliver optimal outcomes for
their patients.
Based on country, the United Kingdom is at the
forefront of the Vascular Graft Market in Europe, and this leadership position
can be attributed to several key factors. Firstly, the country boasts an
advanced healthcare infrastructure that facilitates the seamless integration of
cutting-edge technologies and best practices. This enables UK hospitals and
clinics to be early adopters of innovative medical devices, including vascular grafts,
thereby driving advancements in patient care.
Furthermore, the high incidence of cardiovascular
diseases in the United Kingdom serves as a significant driver for the demand of
vascular grafts. With a proactive approach towards healthcare funding, the UK
government ensures that adequate resources are allocated to address the needs
of patients requiring vascular graft interventions. This commitment to
healthcare is further bolstered by the presence of a robust network of medical
device manufacturers in the country, contributing to its dominant position in
the European Vascular Graft Market. With its comprehensive healthcare system,
strong government support, and a thriving ecosystem of medical device
manufacturers, the United Kingdom continues to lead the way in providing
advanced vascular graft solutions to patients across Europe.
Major companies operating in Europe Vascular Graft Market
are:
- B Braun Medical A/S
- Cardinal Health Inc.
- Endologix llc
- Cook Medical
- Medtronic plc
- Terumo Corporation
- LeMaitre Vascular, Inc.
- Getinge AB
- C.R. Bard
- W.L. Gore and Associates,
Inc.
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“The increasing prevalence of chronic heart diseases
and the growing demand for minimally invasive (MI) procedures are driving a
positive outlook for the market. Vascular grafts play a crucial role in bypass
surgeries for the diagnosis and treatment of angina pectoris, heart attack,
heart artery blockages, and other cardiovascular diseases (CVDs). The wide
adoption of these products is also attributed to the rising incidence of high
blood pressure and cholesterol levels caused by sedentary lifestyles and the
steadily growing geriatric population. Moreover, the development of
biodegradable three-dimensional (3D) printed polymeric vascular grafts that are
mechanically compatible with vascular tissues, support neo-tissue formation and
growth, and are environmentally friendly, is propelling market growth.
Additionally, the extensive use of prosthetic grafts, such as electrospun PU
vascular grafts, for complex vascular trauma, which reduces the risk of
neointimal formation, is positively influencing market growth. Other
contributing factors include the significant growth in the healthcare industry,
extensive research and development (R&D) activities, and rapid
technological advancements in next-generation tissue-engineered vascular
grafts, all of which are driving the market forward.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Europe Vascular Graft
Market By Indication (EVAR, Abdominal Aneurysm Repair, Thoracic Aneurysm,
Peripheral V ascular Repair), By Raw Material (Polyester, ePTFE, Polyurethane,
Polyamide, Biosynthetic), By End User Industry (Hospital, Ambulatory Surgery
Center), By Country, Competition, Forecast & Opportunities, 2018-2018F”, has evaluated the future growth potential of Europe
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 Europe Vascular Graft
Market.
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