Global vascular graft market is expected
to reach USD 3,626 million by 2022, according to a new study by Grand View
Research, Inc. Key factors attributing to its rapid growth include increasing
prevalence of cardiovascular diseases coupled with the development of
technological advanced novel tissue engineered biomaterial based vascular
graft.
Furthermore,
rising healthcare expenditure, favorable reimbursement policies and advanced
technological facilities, are expected to positively reinforce vascular graft
market growth over the next seven years.
Vascular
graft market is segmented on the basis of type of raw material that includes
polyester, polytetrafluoroethylene, polyurethane and biological materials.
Biological materials are further classified as human saphenous & umbilical
veins and tissue engineered materials. Key factors attributing to rapidly
growing demand for biomaterial based graft are higher acceptability of these
graft in human body and reduced risk of post-surgery complication associated
with tissue engineered and human saphenous vein based graft.
Rising
demand for biomaterial vascular graft and technological advancements pertaining
to novel product development such as Nellix and Fortevo will boost usage rates
over the forecast period.
Key
applications analyzed in the report include cardiovascular diseases, aneurysm,
kidney failure, vascular occlusion and diabetes. Key factors driving the market
growth include increasing geriatric population base which is highly prone to
cardiac disorders and unhealthy lifestyle habits such as alcohol consumption
& smoking.
Vascular
graft industry is further segmented on the basis of products that include
hemodialysis access graft, endovascular stent graft, peripheral vascular graft
and coronary artery bypass graft. High volume of EVAR procedures is a high
impact rendering driver attributing for the large share of endovascular stent
graft.
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Further key findings from the study suggest:
- In 2014, North America held majority of market share of nearly 50% owing to the presence of advanced healthcare infrastructure, high level collaboration between the research organizations and major manufacturers of vascular stent graft. Furthermore, increasing adoption of technological advanced products such as to improve patient care followed by new discoveries of specific tissue engineered vascular graft is anticipated to heighten the demand for vascular graft in the coming seven years.
- Asia Pacific is expected to be the fastest growing region growing at a CAGR of nearly 10% during the forecast period. Key factors attributing to its rapid growth include rapid development of healthcare research facilities in the region, favorable government initiatives such as the “Make In India” to encourage big players operating in vascular graft market to establish their manufacturing facilities in the region and rising incidences of target diseases such as cardiovascular and kidney disorders.
- Key players operating in vascular graft market include Medtronic Plc., LeMaitre Vascular Inc., W.L. Gore & Associates, Inc., Cook Medical, Terumo Medical Corporation and Bard Peripheral Vascular Inc.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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