Vascular Graft Market Surges: Reaching $8.1 Billion by 2030 | CAGR 4.98% – PharmiWeb.com

Vascular graft marketsize was valued at $4,993.64 million in 2020, and is projected to reach $8,138.68 million by 2030, registering a CAGR of 4.98% from 2021 to 2030. Vascular grafting is done for the treatment of various vascular complications, such as coronary artery disease (CAD), pulmonary embolism (blood clots), deep vein thrombosis (DVT), chronic venous insufficiency (CVI), and pediatric congenital cardiovascular defects (CCDs). The high blood pressure, cholesterol deposition, cardiac injury, and infections are causative factors for vascular diseases. The diabetes, hypertension, obesity, alcohol consumption, and tobacco smoking are the risk factors for the vascular diseases. The synthetic vascular grafts are made up of expanded polytetrafluoroethylene, Dacron, and polyurethane. However, polyurethane is better able to match the compliance of native vasculature. Hemodialysis access grafts, endovascular aneurysm repair stent grafts, and peripheral vascular grafts are commonly used for vascular grafting procedures.

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Key Market Trends:

Several factors are driving the growth of the vascular grafts market:

Rise in Chronic Heart Diseases:The increasing prevalence of chronic heart diseases and the growing demand for minimally invasive procedures are creating a positive outlook for the market. Vascular grafts are widely used in bypass surgeries for diagnosing and treating conditions like angina pectoris, heart attacks, heart artery blockages, and other cardiovascular diseases (CVDs).

Lifestyle-Related Conditions:Sedentary lifestyles and a steadily growing geriatric population have contributed to the rising prevalence of high blood pressure and cholesterol levels. This has further increased the adoption of vascular grafts.

Advancements in Technology:The development of three-dimensional (3D) printed polymeric vascular grafts, which are biodegradable, mechanically compatible with vascular tissues, and support neo-tissue formation and growth, is providing an impetus to market growth.

Use of Prosthetic Grafts:The extensive utilization of prosthetic grafts, such as electro spun PU vascular grafts for complex vascular trauma that reduce the risk of neointimal formation, is positively influencing the market.

Healthcare Industry Growth: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 are supporting the market growth.

On the basis of the product, the vascular grafts market is divided into hemodialysis access graft, endovascular aneurysm repair stent grafts, and peripheral vascular graft. The hemodialysis access graft segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to the prevalence of vascular diseases.

On the basis of raw material, the vascular grafts market is divided into polyester, polytetrafluoroethylene (PTFE), polyurethane, and biosynthetic. The polyurethane segment dominated the market in 2020, and this trend is expected to continue during the forecast period, due to advantages of polyurethane and better compliance for native vasculature.

On the basis of end users, the market is divided into hospitals and ambulatory surgical centers (ASCs). The hospitals segment dominated the market in 2020, and this trend is expected to continue during the forecast period, due to increase in number of hospitals.

On the basis of region, North America accounted for a majority of the global vascular grafts market share in 2020, and is anticipated to remain dominant during the forecast period due to prevalence of vascular diseases. Asia-Pacific is anticipated to witness lucrative growth, owing to the improvement in healthcare facilities, high population, and government initiatives to provide healthcare service.

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The COVID-19 outbreak is anticipated to have a negative impact on the growth of the vascular grafts market as most hospitals are not operating due to COVID-19 and the ongoing lockdowns in many countries. The COVID-19 virus has serious and life-threatening impact on patients with cardiac patients. However, a huge number of clinics and hospitals across the globe were restructured to increase the hospital capacity to provide improve healthcare services, and this is expected to increase the diagnosis and surgeries of vascular diseases, which contributes in the market growth.

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Vascular Graft Market Surges: Reaching $8.1 Billion by 2030 | CAGR 4.98% - PharmiWeb.com