The global vascular grafts market size is anticipated to reach USD 3.1 billion by 2030 and is expected to expand at a CAGR of 7.0% during the forecast period, according to a new report by Grand View Research, Inc. The rising number of dialysis procedures and prevalence of chronic kidney diseases, heart attacks, atherosclerotic heart diseases, and stroke is boosting the adoption of vascular grafts. Moreover, the rising demand for minimally invasive surgeries among the population is impelling market growth.
Vascular Grafts Market Report Highlights
- The global market size is anticipated to reach USD 3.1 billion by 2030, owing to the increasing prevalence of cardiovascular disease and the shifting trend toward minimally invasive procedures
- The endovascular stent-grafts product segment dominated the market in 2021 owing to rising cases of aneurysms and increasing patient preference for endovascular stent-grafts
- The cardiac aneurysm application segment dominated the market in 2021 owing to the rising prevalence of cardiovascular diseases across the globe
- Polytetrafluoroethylene raw material segment dominated the market in 2021 majorly due to the rising demand for engineered prosthetics products
- North America dominated the market in 2021 majorly due to the development of novel products, increasing R&D activities, and developed healthcare infrastructure
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A vascular graft (also called vascular bypass) is a surgical procedure that redirects or bypasses a complete or partial blockage in an artery in order to improve blood flow to the organ supplied by the diseased artery by reconnecting the blood vessels. Sometimes it involves endovascular procedures such as angioplasty, stent insertion, or atherectomy to widen a stenosed vessel or remove the obstruction. The most common graft materials are artificial grafts, autologous tissues (pericardium & saphenous vein), allografts, and xenografts. Mainly, expanded polytetrafluoroethylene (ePTFE), polyethylene terephthalate and polyurethane are used to produce synthetic vascular grafts. substantial effort has been made to develop an alternative vascular graft called tissue-engineered vascular graft (TEVG), that integrates the patient’s tissue and behaves like a native vascular vessel with self-regenerative and growth functions.
Furthermore, the increasing medical applications and developments in intraoperative techniques are driving the market. Peripheral vascular disease affects more than 200 million people worldwide. This is anticipated to raise the demand for vascular grafts during the forecast period. The outbreak of COVID-19 had a negative impact on market growth due to the deferrals in non-essential medical procedures. It also affected the sales and operation of companies.
In 2021, the endovascular stent-graft products segment dominated the market with a revenue share of 63.8% due to its increasing adoption in response to the rising cases of aortic aneurysms. According to the data published by CDC, in 2019, about 9,904 deaths were witnessed due to aortic aneurysms in the United States. An unhealthy lifestyle has raised the prevalence of cardiac diseases and renal disease, thereby impelling market growth.
Additionally, the increasing geriatric population and rising disposable income coupled with healthcare expenditure in emerging countries are contributing to market growth in these regions. The peripheral vascular graft segment is expected to grow at the fastest rate due to increasing use in peripheral artery bypass. Also, the rising cases of hardening of arteries are boosting the demand for peripheral vascular graft.
The cardiac aneurysm application segment held the majority share in 2021 owing to the rising cases of raised blood pressure, hyperglycemia, hypercholesterolemia, etc. Also, the rising geriatric population and increasing cases of atherosclerotic heart diseases among the population are impelling market growth. Moreover, the shifting trend toward minimally invasive treatments has raised the adoption of minimally invasive vascular implants to treat cardiac aneurysms, thereby boosting segment growth.
On the other hand, the vascular occlusion application segment is anticipated to witness the fastest growth rate due to the increasing prevalence of vascular occlusion disease and the availability of graft procedures. Moreover, the development of novel therapies to treat vascular occlusion is anticipated to drive the market during the forecast period.
As of 2021, the polytetrafluoroethylene raw material segment held the majority share in the market and is expected to witness the fastest growth rate during the forecast period. The growth is attributed to its capability of tolerating pressures and flows in large and medium arteries; moreover, it offers low degradation and infection risk.
The key players offering innovative products that offer maximum protection and help reduce pain are impelling the market growth. For instance, Biovic offers AVATAR PTFE Vascular Graft. It is developed using Humidity Resistant Technology and has porous microstructure on both internal and external surfaces to maximize tissue in-growth and healing response.
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COVID-19 Impacts On Vascular Grafts Market
Postponement of elective procedures to control the spread of COVID-19 and increasing prioritization of treatment associated with COVID-19 significantly reduced the sales of vascular graft products. The pandemic also affected operations, supply chains, product distribution, manufacturing, and other business activities of the market players globally, which, in turn, had a negative impact on the market growth. The development of innovative products, increasing focus of healthcare facilities, and strategies to resume elective vascular surgical procedures are expected to foster the market growth post-COVID-19 outbreak. The increasing prevalence of various health conditions and rising demand for minimally invasive procedures as compared to open procedures is anticipated to drive their adoption in upcoming years.
Vascular Grafts Market Insights By Demographics
North America dominated the market in 2021 owing to the rising geriatric population and associated health diseases. Moreover, the well-developed healthcare infrastructure and rising adoption of products with technological advancement are propelling the market growth. Also, the increasing investments in research and development activities in the region are contributing to the market growth. On the other hand, MEA is expected to witness the fastest growth during the projection period due to rising cases of people suffering from cardiovascular diseases in the region. Asia Pacific is expected to register the fastest growth during the forecast period. The region is heavily burdened by the increasing number of patients with cardiovascular diseases. Moreover, the population suffering from chronic kidney problems, end-stage heart disease, diabetes, etc. is anticipated to fuel market growth.
Competitive Analysis By Major Companies
Partnerships, collaborations, mergers & acquisitions, and the development of new products are the key strategies adopted by key players operating in the market to gain a competitive edge in the market. Some of the prominent players operating in the market include:
- Medtronic plc
- Getinge AB
- LeMaitre Vascular, Inc.
- L. Gore and Associates, Inc.
- Cook Medical
- R. Bard
Vascular Grafts Market Segmentation
Grand View Research, Inc. has segmented the global vascular grafts market report based on product, application, raw material, and region.
- Vascular Grafts Product Outlook (Revenue, USD Million, 2016 – 2030)
- Vascular Grafts Application Outlook (Revenue, USD Million, 2016 – 2030)
- Vascular Grafts Raw Material Outlook (Revenue, USD Million, 2016 – 2030)
- Vascular Grafts Regional Outlook (Revenue, USD Million, 2016 – 2030)
- List of Key Players in the Global Vascular Grafts Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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