The global vascular grafts market, valued at US$ 2.0 Bn in 2021, is anticipated to witness a robust growth trajectory with a projected CAGR of 5.6% from 2022 to 2031, reaching over US$ 3.7 Bn by the end of 2031. Analysts highlight key factors shaping this growth and pivotal developments in the sector.
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Rising Demand Driven by Health Conditions:
The increasing prevalence of chronic kidney and cardiovascular diseases is driving the surge in demand for vascular graft surgeries. Lifestyle-related disorders, a growing geriatric population, higher healthcare expenditure, and improved healthcare infrastructure are identified as key contributors to the rising adoption of vascular graft procedures globally. This trend is further underscored by the adoption of cost-containment measures by governments, emphasizing a shift towards value-based healthcare systems.
Diverse Applications and Market Dynamics:
Vascular grafts play a vital role in rerouting blocked or narrowed arteries, facilitating blood flow restoration to specific organs. With applications ranging from coronary artery bypass grafting to cerebral artery bypass surgery, renal artery bypass surgery, and peripheral bypass surgery, the diverse utility of vascular grafts positions them as a critical component in addressing various vascular disorders. The market dynamics are further influenced by factors such as the rise in lifestyle-related disorders and an increase in the incidence of cardiovascular diseases.