Vascular Graft Market – Global Analysis and Forecast 2024 | VynZ Research
Graft is a tube shaped synthetic material, used to patch injured or diseased area of arteries or veins. It is used to redirect flow of blood and restore normal blood flow within the body. The global vascular graft market is growing at significant rate due to rapid growth in geriatric population increasing prevalence of diabetes and cardiovascular disease and increasing prevalence of smoking. The market has witnessed high demand for endovascular aneurysm over the last few years, due to growing geriatric population and increasing demand for minimally invasive surgical procedures.
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Geographically, North America is the largest vascular graft market due to increasing healthcare expenditure, increasing prevalence of diabetes, increasing government initiatives and increasing research and development.
Some of the other factors leading to the growth of the North American vascular graft market are increasing geriatric population, increasing prevalence of ESRD, increasing prevalence of cardiovascular disease and increasing adoption of minimally invasive surgeries. For instance, according to Centers of Disease Control and Prevention (CDC), in the U.S. approximately 610,000 people die every year due to heart disease. Moreover, according to CDC in 2017 approximately, 30 million people in the U.S. have chronic kidney disease, and in 2014 approximately 118,000 people in the U.S. started treatment for ESRD.
Asia-Pacific is observed to witness fastest growth in the market as the region comprises of largest population and healthcare infrastructure is improving. In addition, growing geriatric population, increasing number of smokers, increasing medical tourism, and growing adoption of minimally invasive procedures are creating a positive impact on the vascular graft market growth in the region.
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Key players in the vascular graft industry are investing in the development of innovative and advance graft products, which is strengthening their position in the market. In January 2017, Terumo Corporation completed acquisition of vascular closure business and other assets of Abbott and St. Jude Medical. In addition, in May 2017, Medtronic announced the enrollment of first patient with end-stage renal disease in the IN.PACT AV Access Drug-Coated Balloon (DCB) study.
Medtronic Plc, Terumo Corporation, Maquet, C. R. Bard, B. Braun Melsungen AG, Lemaitre Vascular, Cardinal Health, Endologix, Cook Medical Inc., and W.L. Gore & Associates Inc., are some of the key players offering vascular graft products.