With Market Size Valued at $4.4 Billion by 2026, it`s a Healthy Outlook for the Global Vascular Grafts Market
SAN FRANCISCO, Dec. 8, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Vascular Grafts - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: November 2021
Executive Pool: 7547
Companies: 44 - Players covered include Maquet Holding B.V. & Co. KG; Medtronic PLC; Terumo Cardiovascular Group; B. Braun Melsungen AG; BARD, A Becton, Dickinson Company; Cardinal Health, Inc.; Cook Medical LLC; Endologix, Inc.; Gore Medical; LeMaitre Vascular, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Indication (Endovascular Aneurysm Repair (EVAR), Peripheral Vascular Repair, Hemodialysis Access); Raw Material (Polyester, ePTFE, Polyurethane, Biosynthetic); End-Use (Hospitals, Ambulatory Surgical Centers)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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ABSTRACT-
Global Vascular Grafts Market to Reach US$4.4 Billion by the Year 2026
Vascular grafts are implants that are used during surgical procedures that involve peripheral vessel bypass or aortic repair. They are synthetic tubes that are surgically implanted in the arteries and veins to repair diseased or injured areas in the arteries. Vascular grafts are also used to patch up whole segments of the aorta and other larger arteries. By harnessing the vascular grafts, damaged or diseased blood vessels are replaced or patched up to redirect the blood flow. Vascular grafts come in an array of materials, such as biosynthetic, polyester, polyurethane, and polytetrafluoroethylene (ePTFE). While vascular grafts are largely used in the heart during a coronary artery bypass, they are also deployed to treat renal failure, vascular occlusion, vascular disease, and aneurysm. The increasing prevalence of diabetes, hypertension, vascular occlusions, end-stage renal disease, and peripheral artery diseases has been a growth driver for the vascular graft treatment market. There is greater public awareness of coronary diseases brought about by sedentary lifestyles, unhealthy eating habits, and smoking. Vascular grafts are also deployed for kidney transplants for repairing renal vessels.
Amid the COVID-19 crisis, the global market for Vascular Grafts estimated at US$3.1 Billion in the year 2020, is projected to reach a revised size of US$4.4 Billion by 2026, growing at a CAGR of 6.4% over the analysis period. Endovascular Aneurysm Repair (EVAR), one of the segments analyzed in the report, is projected to grow at a 6.2% CAGR to reach US$2.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Peripheral Vascular Repair segment is readjusted to a revised 8% CAGR for the next 7-year period. This segment currently accounts for a 32.7% share of the global Vascular Grafts market. The endovascular grafts dominated market share, fueled by the surging demand for sophisticated endovascular grafts. Anaconda AAA Stent Graft System of Terumo and Endurant II AAA Stent Graft System of Medtronic are the main products in the market. Increasing R&D and new product introductions are expected to foster market growth.
The U.S. Market is Estimated at $1.3 Billion in 2021, While China is Forecast to Reach $486.7 Million by 2026
The Vascular Grafts market in the U.S. is estimated at US$1.3 Billion in the year 2021. The country currently accounts for a 40.2% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$486.7 Million in the year 2026 trailing a CAGR of 8.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.7% and 5.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.5% CAGR while Rest of European market (as defined in the study) will reach US$213.4 Million by the end of the analysis period.
Hemodialysis Access Segment to Reach $876 Million by 2026
The hemodialysis vascular graft market has been registering healthy demand, attributed to the growing prevalence of kidney diseases worldwide. Further, the rising use of biological access products on account of technological developments is also driving market growth. Rising number of patients with renal impairment and low availability of kidney donors are encouraging hemodialysis procedures in such patients, which is boosting market prospects. In the global Hemodialysis Access segment, USA, Canada, Japan, China and Europe will drive the 4.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$590.8 Million in the year 2020 will reach a projected size of US$793.1 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$68.9 Million by the year 2026, while Latin America will expand at a 4.9% CAGR through the analysis period.
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