The global vascular graft market is poised to gain major impetus over the ensuing years from increasing number of hemodialysis procedures and cardiac surgeries across the globe.
The global vascular graft market is poised to gain major impetus over the ensuing years from increasing number of hemodialysis procedures and cardiac surgeries across the globe. Further, growing geriatric population who are susceptible to chronic diseases along with the adoption of unhealthy lifestyles is likely to instigate the use of vascular grafts, thereby providing growth prospects to the overall industry. According to Global Market Insights, Inc. report, vascular graft market size is projected to surpass USD 3.6 billion by 2024
Additionally, ongoing technological advancements for developing novel vascular grafts is anticipated to open new growth avenues for the market. Citing an instance, in 2018, leading business player, W. L. Gore & Associates, Inc. declared successful implantation of its GORE® Ascending Stent Graft. According to the company, this Stent graft is an investigational device and a first of its kind endovascular stent graft developed especially for the treatment of Type A dissections in ascending aorta. Likewise, similar other efforts undertaken by vivid industry players are expected to offer growth progression to the overall industry space in the years to follow.
Strategic initiatives by industry players
Notable industry players operating in vascular graft market such as Cryolife (Jotec), Becton Dickinson (C.R. Bard), Cook Medical, B. Braun, Endologix, LeMaitre Vascular, Getinge AB, and W.L. Gore and Associates are emphasizing on strategic mergers, acquisitions, and novel product development in order to strengthen their market position. For instance, in 2017, Endologix announced its collaboration with Japan Lifeline for production and distribution of new endovascular stent grafts. Apparently, this strategic move helped the company expand its geographical footprint and gain a strong market position.
Burgeoning demand for polyester grafts
Polyester graft segment had accounted for a remarkable valuation of USD 1,457.3 million in 2017 and is estimated to grow exponentially over the subsequent years, owing to increased product application along with its ease of availability. Moreover, effective material compatibility and technological developments pertaining to optimization of polyester grafts will further complement the business growth.
To access sample pages of this report titled, “Vascular Graft Market Size By Raw Material (Polyester Grafts, Expanded Polytetrafluoroethylene Grafts, Polyurethane Grafts, Biosynthetic Grafts), By Application (Endovascular Aneurysm Repair, {Abdominal Aortic Aneurysm Repair, Thoracic Aortic Aneurysm Repair}, Peripheral Vascular Repair, Hemodialysis Access), By End-Use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2018 - 2024” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/request-sample/detail/2492
Heightened adoption of endovascular aneurysm repair
Endovascular aneurysm repair segment is expected to register a robust growth rate of 7.0% through 2024 considering the shifting consumer preference for minimally invasive procedures. Another important factor influencing endovascular aneurysm repair adoption is the benefit associated with it such as less duration of stay and cost-effectiveness.
Increasing consumer preference for hospitals
Hospital segment is estimated to register substantial gains over the forthcoming years due to elevating demand for vascular grafts owing to shifting patient inclination towards these healthcare facilities for their cardiovascular surgeries and hemodialysis procedures. In addition, increasing patient pool across hospitals with deployment of innovative surgical procedures will positively influence the segment growth further. For the record, in 2017, hospital segment had registered a substantial valuation of USD 1,535.7 million.
Increasing incidences of cardiovascular diseases in the U.S.
Vascular graft market in the U.S. is projected to observe a notable growth over the coming years on account of accelerating product demand driven by the increasing prevalence of cardiovascular diseases in the country. Further, the increasing elderly population in the region, who are prone to cardiovascular diseases, would also have a positive impact on the overall market dynamics. Apparently, over 32% of the U.S. residents are in the age group of 50 years and above. Moreover, supportive healthcare and reimbursement policies in conjunction with technological developments will enhance the segment growth in the future.
Rising prevalence of end-stage renal disease in China
China vascular graft market had dominated the Asia Pacific region by securing a sizeable market share of 48.1% in 2017 and is expected to grow significantly over time. The growth can be credited to increasing product adoption driven by rising prevalence of end-stage renal disease in the country. This is majorly due to unhealthy lifestyle and diet leading to chronic diseases such as hypertension and obesity.
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