Published: Sep, 2018
The global vascular graft market has consolidated competitive landscape, TMR observes. Some of the players operating in the global vascular graft market are B. Braun Melsungen AG, MAQUET Holding B.V. and Co. KG (Getinge AB), CryoLife, Inc., and W. L. Gut and Associates, Inc. In addition, the presence of the new entrants and small vendors are intensifying the competition among key players. The players such as B. Braun Melsungen AG, MAQUET Holding B.V. and Co. KG (Getinge AB), CRYOLIFE, INC., W. L. Gut and Associates, Inc., C.R. Poet, Vascutek Ltd. (Terumo Company), Cook Medical, Inc., Medtronic plc, and LeMaitre Vascular, Inc., accounted for about 93.5% of the global market in 2016.
According to the report by TMR, the worldwide vascular grafts market gathered revenue of US$ 2.15 bn in the year 2015 and with the CAGR of 5.0%, it will attain the value of US$ 3.29 bn by the end of forecast period from 2016 to 2024. Based on the product, the endovascular stent graft segment dominated the global vascular graft market accounting for the share of 41.0% in 2015. Based on the region, North America rose to prevail around the same time holding more than 45% of the worldwide vascular grafts market. However, Asia Pacific is projected with the highest growth rate over the forecast period.
Rising incidences of Cardiovascular Diseases is Influencing Positively on Growth
A vascular graft is an artificial blood vessel which is placed in the patient’s body as an option to the blocked blood vessel and remove the blockages from the flow of the blood. This restores the flow of blood within the human body. The rising incidences of the cardiovascular diseases, blood sugar, and hypertension are driving adoption of the vascular graft and likely to fuel the growth of the vascular grafts market.
In addition, the factors such as increasing geriatric population and lifestyle changes are expected to boost the growth of the market. Furthermore, technological advancements such as creative and mechanical propelled products which makes their working process easier. These advancements are likewise pointed towards the higher adoption of the vascular grafts. Additionally, the rising rate of patients with suffering from weight, diabetes, renal impedances, and ceaseless diseases and infections are fuelling the growth of the global market for a vascular graft.
Lack of Administrative Endorsement to Hamper Growth
Despite these growth opportunities, the absence of administrative endorsement is limiting uptake of the vascular grafts which is hampering the growth of the global market. The changed administrative conditions which vary from place to place is complicated and intricate the market players. Similarly, the surgical procedure has its own side effects which can lower the uptake of vascular grafts. Additionally, the moderate development rate is hampering the growth of the global vascular grafts market. Nevertheless, the increase in awareness about the benefits of planting vascular grafts across emerging economies of Asia-Pacific and LAMEA could offer numerous growth opportunities over the forecast period.
This information is included the report titled, “Vascular Graft Market (Product - Endovascular Stent Graft, Peripheral Vascular Graft, Hemodialysis Access Graft, and Bypass Graft; End User - Hospitals, Ambulatory Surgical Centers, Specialty Clinics, and Cardiac Catheterization Laboratories; Source - Synthetic, Biosynthetic and Biological; Application - Coronary Artery Disease, Aneurysm, Vascular Occlusion, and Renal Failure) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
The vascular graft market is segmented as below:
- Endovascular Stent Graft
- Peripheral Vascular Graft
- Hemodialysis Access Graft
- Bypass Graft
By End User:
- Ambulatory Surgical Centers
- Specialty Clinics
- Cardiac Catheterization Laboratories
- Coronary Artery Disease
- Vascular Occlusion
- Renal Failure
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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