Vascular Graft Market Value set to reach at a CAGR 5.7% and Generate $6,218 Million By 2027
Pune, Maharashtra, India, September 24 2020 (Wiredrelease) Allied Analytics –:There have been progressive advancements in vascular grafts especially in the graft material which has increased the biocompatibility of prosthetic vascular grafts and reduced the incidences of graft failure. This has increased the adoption of vascular grafts among patients as well as healthcare providers.
Vascular grafts are medical devices that are used in surgical procedures to redirect blood flow from one area to another by reconnecting blood vessels. Vascular graft surgery is performed in patients with blocked arteries to restore normal blood flow within the body. Increase in incidence of lifestyle-related disorders has fueled the demand for vascular grafts.
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Vascular Grafts Market by Product, Raw Material, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023,” the global vascular grafts market was valued at $4,192 million in 2016, and is expected to reach at $6,218 million by 2023, growing at a CAGR of 5.7% from 2017 to 2023.
Covid-19 Impact on the Global Vascular Graft Market:
Vascular Graft Market Report provides an overview of the market based on key parameters such as market size, sales, sales analysis and key drivers. The market size of the market is expected to grow on a large scale during the forecast period (2019-2026). This report covers the impact of the latest COVID-19 on the market. The coronavirus epidemic (COVID-19) has affected all aspects of life around the world. This has changed some of the market situation. The main purpose of the research report is to provide users with a broad view of the market. Initial and future assessments of rapidly.
Market Competitive Analysis:
The list of key players profiled in this report include B. Braun Melsungen AG, C. R. Bard, Inc., Cardinal Health Inc., Cook Medical Inc., Endologix Inc., LeMaitre Vascular, Inc., MAQUET Holding B.V. & Co. KG, Medtronic plc, Terumo Corporation, and W. L. Gore & Associates, Inc.
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The report segments the global vascular graft market by product, raw material, end user, and geography. Based on product, the report sub-segments the market into hemodialysis access graft, endovascular aneurysm repair stent graft, and peripheral vascular graft. The endovascular aneurysm repair stent grafts segment dominated the global market in 2016, accounting nearly three-fifths of the total share. The segment is also expected to maintain dominance throughout the forecast period, owing to the associated benefits of being a minimally invasive procedure as compared to open-chest or open-abdominal aneurysm surgery. The report further bifurcates the market into hospitals and ambulatory surgical centers, with the hospitals segment accounting for more than half of the end users share in 2016.
Based on raw material, the market is categorized into polyester, polytetrafluoroethylene (PTFE), polyurethane, and biosynthetic. The biosynthetic segment is expected to grow at a CAGR of 6.5% during the forecast period, owing to the combination of properties of both synthetic as well as biological materials, which give optimal results. Regionally, North America is expected to maintain its dominance throughout the forecast period, owing to the increase in incidence of vascular disorders & renal diseases and rise in patient awareness about the benefits of vascular graft surgery. Meanwhile, Asia-Pacific is expected to grow at the highest CAGR of 7.5% from 2017 to 2023.
Key Findings of the Vascular Grafts Market:
>The polytetrafluoroethylene (PTFE) segment accounted for more than half of the raw materials market share in 2018.
>The endovascular aneurysm repair stent grafts segment accounted for nearly three-fifths share of the global market in 2018, and is expected to grow at a CAGR of 6.2% from 2017 to 2023.
>The hospitals segment accounted for more than half of the end users share.
>Asia-Pacific is expected to grow at the highest CAGR of 7.5% from 2017 to 2023.
North America accounted for a major share (more than half) in the global market in 2016, and is expected to maintain its dominance throughout the forecast period, owing to the increase in incidence of vascular disorders & renal diseases and rise in patient awareness about the benefits of vascular graft surgery. In addition, high adoption rate of technologically advanced devices and presence of highly sophisticated healthcare infrastructures are expected to offer new growth opportunities to the players in the market.
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