The global vascular grafts market is set to witness rapid growth on account of increasing incidence of vascular disorders. This information has been provided by Fortune Business Insights, titled “Vascular Grafts Market Size, Share and Global Trend By Product Type (Endovascular Stent Graft, Hemodialysis Access Graft, Bypass Graft, Peripheral Vascular Graft), By Application (Coronary Artery Disease, Vascular Occlusion, Renal Failure), By Material (Synthetic, Biological), By End User (Hospitals, Specialty Clinics), and Geography Forecast till 2026”.
The report provides a study and analysis of the various factors that are likely to accelerate the growth of the global vascular grafts market. Vascular graft or bypass is a widely accepted and recommended surgical procedure. It is performed to redirect blood flow from one area of the body to another by reconnecting the blood vessels. The most common condition that requires the use of a vascular graft is ischemia (inadequate blood supply) caused by arteriosclerosis. In such conditions, a vascular graft is the best solution to restore regular blood circulation in the body.
Top Leaders Overview:
Some of the leading companies in the global Vascular Grafts Market:
- Artegraft, B. Braun Melsungen, BD
- Cook Medical
- CryoLife, Inc
- Heart Medical
- LeMaitre Vascular
- MAQUET getinge group
- Shanghai Suokang Medical Implants
- Vascular Grafts Solutions
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Expensive Surgeries a Major Roadblock
While there are many factors favoring the expansion of the global vascular grafts market, it still has to overcome certain obstacles. One such obstacle is the high cost of surgeries required to treat vascular disorders. The other major roadblock is the fear of vascular graft infection. Though rare, the possibility of occurrence of vascular graft infections instils an element of distrust among the afflicted. According to a paper published by the Khakiv National Medical University in Ukraine, if a vascular graft infection occurs, it can prove disastrous for the patient. Such infections can lead to amputation or death, the paper notes.
Thus, these factors can prove to be major hindrances in the growth and development of the global vascular grafts market.
Rising Incidence of Cardiovascular Diseases to Fuel the Market
Cardiovascular diseases are widely accepted as one of the leading causes of death worldwide, according to a report by the World Health Organization. In a report of similar nature, the Centre for Disease Control and Prevention revealed that coronary heart disease is the most common form of heart that kills millions of Americans every year. Besides coronary heart disease, Peripheral Artery Diseases (PAD) and cerebrovascular diseases are the major causes of cardiovascular diseases in the world. The rising number of cases related to such diseases in both the developed and developing nations is expected to aid the rapid growth of the global vascular grafts market in the forecast period. Primary reasons for the steady rise in cardiovascular diseases are adoption of unhealthy lifestyles (for example, excessive consumption of fatty foods, sedentary habits etc.), hypertension and high blood sugar levels. The global vascular grafts market is anticipated to gain traction as a result of these factors.
Exciting Investment Opportunities Attracting Serious Players
Seeing the scope of the rapidly developing global vascular grafts market, major players are entering the field and elevating the competition levels. Most of them are focusing on investing in R & D projects and developing and launching innovative products to diversify their portfolios. For example, Cardiovate, a start-up, developed and patented the first ever bio-absorbable vascular graft. It is designed to improve blood flow and prevent amputations. In January 2019, Somahlution released a clinical study stating that DuraGraft lowers the risk of post coronary bypass grafting.
Some of the key players identified by Fortune Business Insights in this market include CryoLife, Vascular Grafts Solutions, Cook Medical, Artegraft, LeMaitre Vascular, and others.
Asia-Pacific Expected to Exhibit Higher CAGR in the Forecast Period
While North America continues to hold the largest share in the global vascular grafts market, Asia-Pacific is slated to register a relatively higher CAGR between 2018 and 2026. This is mainly attributable to government-led awareness initiatives in developing countries about treatment of chronic diseases, increased government spending on public health, deeper penetration of technology in the healthcare sector, and greater R & D investment to develop early detection devices. The global vascular grafts market is anticipated to grow owing to the combined effect of these drivers.
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