Global Vascular Graft Market: Snapshot
Vascular graft has been a prosthetic of choice among the vascular and other cardiovascular surgeons worldwide due to its strong, inert and biocompatible design which also varies in sizes and configurations in order to improve vascular access. The rise in vascular graft usage has been increased due to increase in cardiovascular diseases and diabetes. Increase in geriatric population, demand of new technological advancements in vascular access, rise in demand of vascular grafts among vascular patients can also accelerate the growth in vascular graft market. Risk of infection due to diabetes mellitus and immune response can increase some serious complications such as sepsis, amputation, disruption of infected anastomotic rigid line with a rupture, etc. can restrain the market growth.
The global vascular graft market is forecast to reach US$3.29 bn by the end of 2024, from US$2.15 bn in 2015. If these figures hold true, the global vascular grafts market will exhibit a CAGR of 5.0% between 2016 and 2024.
Hospitals Emerge as Leading End Users of Vascular Grafts
Based on product, the vascular graft market is segmented as endovascular stent graft, peripheral vascular graft, hemodialysis access graft, bypass graft and others. The endovascular stent graft segment dominated the global vascular graft market accounting for the share of 41.0% in 2015 as these devices are mostly utilized by the vascular surgeons for abnormal aortic disorders or aneurysm caused due to cardiovascular disorders or diabetes, and smoking. The hemodialysis segment is also expected to register the fastest growth during the forecast period due to increase in number of diabetes patients. Bypass graft segment is projected to grow with a second highest CAGR between 2016 and 2024 due to increase in number of incidences of coronary artery diseases caused due to increase in obesity and unhealthy food habits.
Vascular grafts are used by various end users including hospitals, ambulatory surgical centers, specialty clinics, cardiac catheterization laboratories, and others. The hospital end user segment held the largest market share in 2015 owing to increasing incidence of cardiovascular disease, introduction of technological modification on grafts by different key players in the form of usage of different sources. The segment is also projected to grow at the fastest CAGR within the end user segment. The major factor driving the hospital end user segment is that most of the vascular graft with latest technological source & design availability in hospitals. Furthermore, continuous rise in the incidence of diabetes, cardiovascular disease are also expected to boost the growth of hospital segment during the forecast period from 2016 to 2024. Based on the source segment, synthetic vascular graft is expected to have higher market share by 2024 in compare to biological and biosynthetic vascular grafts. Vascular grafts are also used for various application including coronary artery disease; aneurysm; vascular occlusion; renal failure, and others. The coronary artery disease segment is likely to grow with higher CAGR between 2016 and 2024.
Technological Developments Enabling North America Vascular Graft Market to Exhibit Strong Growth
The global vascular graft market has been segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa., which are further categorized into various countries under each region. North America dominated the global vascular graft market in 2015 with a share of 45.0% due to factors such as increasing prevalence of cardiovascular diseases and better healthcare awareness program for diabetes. Furthermore, technological developments and increasing expenditure by major key players for development of vascular graft are also boosting the growth of the vascular graft market in North America.
According to the Journal of BioMed Research International, (2013), cardiovascular diseases (CVD) cause 3% of all deaths in North America. Also, the American Heart Association (AHA) policy statement concluded that cardiovascular disease treatment cost will rise to US$ 1 trillion annually in the U.S. by 2030 which can increase the demand in various cardiovascular devices which is likely to drive the growth of the vascular graft market.
However, Asia Pacific is projected to highest growth rate over the forecast period. The rationale behind such high growth has been attributed due to increase in geriatric population, set up of distribution channels by key players. Moreover, improving healthcare infrastructure and medical tourism would also drive the growth of the vascular graft market in the next few years.
W.L. Gore & Associates, Inc. dominated the global vascular graft market in 2015. Major factors attributed to its dominance are product portfolio and widespread market presence. Other players in the global vascular graft market include Vascular Grafts Solutions Ltd., Heart Medical Europe BV, C.R. Bard, Inc., MAQUET Holding B.V. & Co. KG (Getinge Group), Cook Medical, Inc., B. Braun Melsungen AG, Medtronic plc, LeMaitre Vascular, Inc., ARTEGRAFT, Vascutek Ltd. (Terumo Company) and others.
Global Vascular Graft Market: Overview
This report on the vascular graft market analyzes the current and future scenario of the global market. Large number of cardiovascular disease patient and diabetes sufferers is increasing the usage of vascular grafts. Compatible and high definition designed technology are the major drivers of the global vascular graft market.
The vascular graft market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments of the market. It also provides information and data analysis of the global market with respect to the segments based on products, source, application and geography. A detailed qualitative analysis of drivers and restraints of the market and opportunities has been provided in the market overview section. In addition, the section comprises Porters Five Forces Analysis to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis, by geography and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global vascular graft market.
Global Vascular Graft Market: Segmentation
Based on product, the market has been segmented into endovascular stent graft, peripheral vascular graft, hemodialysis access graft, bypass graft, and others. The product market segments have been analyzed based on available approved products, cost-effectiveness, and preference for technologies by vascular surgeons and patients. The market size and forecast for each of these segments have been provided for the period from 2014 to 2024, along with their respective CAGRs for the forecast period from 2016 to 2024, considering 2015 as the base year.
Based on End-user, the vascular graft market has been segmented into four major categories: hospitals, ambulatory surgical centers, specialty clinics, cardiac catheterization laboratories, and others. The vascular grafts are also segmented into source (synthetic, biological and biosynthetic) and application (coronary artery disease; aneurysm; vascular occlusion; renal failure, and others). The market segments have been extensively analyzed based on prevalence of the diseases, available treatment, and geographical coverage. The market size and forecast in terms of US$ Mn for each segment have been provided for the period from 2014 to 2024. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2016 to 2024, considering 2015 as the base year.
Global Vascular Graft Market: Regional Outlook
Geographically, the global vascular graft market has been categorized into five major regions and the key countries in the respective region: North America (the U.S., Canada), Europe (the U.K., Germany, Russia, France, Spain, Italy, and Rest of Europe), Asia Pacific (Japan, India, China, Australia & New Zealand and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and Middle East & Africa (South Africa, GCC countries and Rest of Middle East & Africa). The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2014 to 2024, along with their respective CAGRs for the forecast period from 2016 to 2024, considering 2015 as the base year. The research study also covers the competitive scenario in these regions.
Companies Mentioned in the Report
The report also profiles major players in the global vascular graft market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major players profiled in this report include W. L. Gore & Associates, Inc., C.R. Bard, Inc., MAQUET Holding B.V. & Co. KG (Getinge Group), Cook Medical, Inc., B. Braun Melsungen AG, Medtronic plc, LeMaitre Vascular, Inc., Vascutek Ltd. (Terumo Company), and others.
The global vascular graft market has been segmented as follows:
Global Vascular graft Market Revenue, by Product
- Endovascular Stent Graft
- Peripheral Vascular Graft
- Hemodialysis Access Graft
- Bypass Graft
Global Vascular graft Market Revenue, by Application
- Coronary Artery Disease
- Vascular Occlusion
- Renal Failure
Global Vascular graft Market Revenue, by Source
- Polytetrafluethylene (PTFE)
- Polyurethane (PU)
- Bovine Vein
- Saphenous Vein
- Ovine Collagen with Polyester
Global Vascular graft Market Revenue, by End-user
- Ambulatory Surgical Centers
- Cardiac Catheterization Laboratories
- Specialty Clinics
Global Vascular graft Market Revenue, By Geography
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC countries
- South Africa
- Rest of Middle East & Africa