The global Vascular Grafts market gathered revenue around USD 4.2 billion in 2021 and market is set to grow USD 6.9 billion by the end of 2030 and is estimated to expand at a modest CAGR of 8.4% during the prediction period 2022 to 2030.
The increasing prevalence of various cardiovascular disorders, such as Myocardial Infarction (MI), Coronary Heart Disease (CHD) or Coronary Artery Disease (CAD), and stroke, coupled with rising demand for minimally invasive surgeries among the patient population is boosting the market growth.
In addition, the market is further driven by a wide number of medical applications and improvements in the development of intraoperative techniques. For instance, the number of peripheral artery procedures increased from 249,350 in 2011 to 280,349 in 2016 in the U.S., according to a research study published by the American Roentgen Ray Society. The COVD-19 pandemic has negatively impacted the country’s growth owing to recommended deferrals of elective medical procedures globally coupled with increasing prioritization for COVID-19 treatment.
The endovascular stent-grafts product segment held the largest revenue share in 2020. The growth of the segment is due to the increasing prevalence of cardiovascular aneurysms. A sedentary lifestyle, limited physical activity, and substance abuse are resulting in a high prevalence of renal and cardiac diseases globally. The impact of these factors is especially high in developed regions such as North America and Europe.
However, the prevalence of these diseases is expected to increase in emerging economies, such as Latin America and the Asia Pacific, owing to changing demographics and rising healthcare expenditure. Key parameters contributing to market growth in these regions include the increasing prevalence of cardiac and renal diseases in the geriatric population, increasing disposable income, and changing lifestyles. On the other hand, the peripheral vascular grafts segment is anticipated to be the fastest-growing segment during the forecast period owing to the increasing number of patients suffering from coronary heart disease across the globe.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Vascular Grafts market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Vascular Grafts market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
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COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Vascular Grafts market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
North America dominated the vascular grafts market and accounted for the largest revenue share of 31.4% in 2021. The prominent drivers of the market are increased awareness and improved health care facilities for cardiovascular treatment. Constant technological developments followed by discoveries of specific tissue-engineered products trigger the growth of biomaterials vascular grafts. Key factors attributing to the market growth include better reimbursement policies, advanced technological facilities, successful initiatives, and accurate diagnostic procedures through biometric tools. Furthermore, ongoing research about the development of advanced biomaterial grafts is expected to heighten the demand for these products during the forecast period.
However, in MEA, the market is expected to register the fastest growth during the forecast period. The rising incidence of cardiovascular diseases, diabetes, and end-stage heart and kidney failures is expected to boost the usage rates of vascular grafts in minimally invasive procedures over the forecast period. In addition, the increasing number of premature deaths due to cardiac disorders is also poised to foster overall growth. In addition, the availability of effective treatment options and rapid diagnosis of cardiovascular diseases is expected to propel the regional growth of vascular grafts over the forecast period.
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Vascular Grafts Market include: Medtronic plc; Terumo Corporation; LeMaitre Vascular, Inc.; Getinge AB; Cook Medical; C.R. Bard; W.L. Gore and Associates, Inc.; and Shanghai Suokang Medical Implants Co. Ltd.; Getinge AB
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
Middle East & Africa (MEA)
Highlights of the Report:
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Vascular Grafts market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Vascular Grafts market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Vascular Grafts markets more accurate and reliable.
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Vascular Grafts Market Study: