New Engineering Approaches in Vascular Grafts Market Expands Horizon of Endovascular Surgeries, Synthetic Products Attract R&D: TMR
- Prevalence of cardiovascular diseases a key driver for demand for improving the functional characteristics of endovascular stent grafts
- Tissue-engineered vascular grafts for grafts of diameter above 6mm to help clinicians reduce the morbidity of vascular diseases, Global market to reach valuation of US$ 3,000 Mn by 2026
ALBANY, N.Y., April 27, 2021 /PRNewswire/ -- Vascular grafts are commonly used in endovascular surgeries, and both autologous veins and arteries can be used as conduit. The drive for improving the clinical outcomes of revascularization solutions has been a key underpinning for the acceptance of vascular grafts. Aim at improving synthetic vascular prostheses is a key force underlying creation of new avenues in the vascular grafts market. Major sources comprise synthetic, biological, and biosynthetic. Further, of the various grafts used, endovascular stent grafting has attracted widespread attention among end users and healthcare providers. Relentless focus on reducing the mortality of vascular diseases is a key accelerant for strides in the vascular grafts market.
The global valuation of vascular grafts market in 2017 was US$ 2,010 Mn. The growing prevalence of cardiovascular diseases is a key factor cementing the uptake rate during the forecast period of 2018 to 2026. By the end of this period, the revenue is projected to touch US$ 3,000 Mn.
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Key Findings of Vascular Grafts Market Study
- Growing Indications of Vascular Grafting Surgery Key Trend
A range of disease conditions need long-term revascularization of occluded vessels, driving use of vascular grafts. Over the years, the indications have grown substantially. Vascular grafts are used in coronary artery bypass, vascular occlusion, aneurysm, critical limb ischemia, and renal failure. The marked morbidity and burden of each in worldwide population is propelling advances in endovascular surgeries that utilize vascular grafts. For instance, limb-threatening ischemia is a case in point. The prevalence of cardiovascular diseases (CVD) leads to high burden globally, especially in developing regions of the world. Thus, there is a constant need for improving the outcomes of revascularization procedures using in situ tissue engineering approaches. Growing preference of stent grafts for treating atherosclerosis is one of the key trends boosting the prospects in the vascular grafts market. The preference of larger grafts of diameter >6mm for managing vascular diseases is one of the key factors propelling product development in the market.
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- New Techniques and Approaches to Improve Outcomes
Medical companies in the vascular grafts market are keen on ceaselessly pursuing development of products that have low patency rates and remarkable compatibility in the target patient populations. In this light, a number of new approaches based on in vivo studies and tissue techniques have emerged, a trend that enriches the landscape. Synthetic vascular prostheses have also begun drawing sizable research funding by some of the key market players. Growing awareness about these techniques in hospital setting is a key factor bolstering the demand for newly developed array of vascular grafts.
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Vascular Grafts Market: Key Driving Factors and Avenues
- Rise in elderly population in many developing and developed economies is boosting the growth prospects of various industry players in the market.
- Growing popularity of minimally invasive endovascular surgery in the target patient populations spurs demand
Vascular Grafts Market: Regional Assessment
Globally, North America has been the clear winner in 2017. In addition to massive product developments and constant focus on innovation, small size vascular grafts in the regional market have undergone remarkable advancements. The presence of vast patient pool over the past few years in the region, due to high prevalence of cardiovascular diseases, has reinforced the market demands.
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On the other hand, strides made in the healthcare infrastructure in Asia Pacific have been underpinning the high revenue potential of the regional market.
Vascular Grafts Market: Key Participants
- Heat Medical Europe BV
- Medtronic plc
- Cook Medical
- B. Braun Melsungen AG
- LeMaitre Vascular, Inc.
- Maquet Holding
- W. L. Gore & Associates, Inc.
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