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(Health-NewsWire.Net, April 16, 2020 ) Market Overview
The global vascular graft market is growing at a CAGR of 7.3% during the forecast period (2019-2026).
Avascular graft (or) vascular bypass is a surgical procedure which is used to redirect blood flow from one area to another by reconnecting blood vessel, also known as a channel, used to replace the diseased or blocked blood vessels. It can be arteries, veins or capillaries. Vascular grafts have their application in treating cardiovascular diseases, kidney failure, vascular occlusion, and others.
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Market Drivers and Restraints
Major factors which contribute to the growth of global vascular graft market is the rise of cardiovascular diseases, coronary artery diseases, diabetes etc. and by the requirement of artificial vessel implantations.
In the U.S approximately 84 millions of people are affected by some form of cardiovascular disease and 15million of them facing coronary artery diseases, wherein the intervention of vascular grafting is the best possible way to treat the patients.
In U.S. more than 500,000 coronary artery bypass grafts are performed annually.
Total cost expenditure is estimated to be more than $316 billion for an affected person with health expenditure and productivity loss of young adults. The usage of vascular grafts can also create infections.
Segmentation Analysis
Polyester based grafts occupy a major share of vascular grafts market, for the year 2018, and are estimated to grow at the highest CAGR over the forecast period.
The main reason to prefer these polyester-based vascular grafts is due to their characteristics such as greater lifespan, high patency and high porousness and less post-surgery side effects.
Endovascular aneurysm repair stent grafts occupied the significant share in 2018 and it is expected to continue the same over the forecast period. The prime reason for the evolution of endovascular aneurysm repair is that the aneurysm treatment has become much more convenient for the patients as they form a minimally invasive alternative to open surgeries.
These endovascular aneurysm is further sub-divided to Abdominal Aortic Aneurysm (AAA) and Thoracic Aortic Aneurysm (TAA)
For instance, in October 2017, Medtronic developed Endurant II Stent Graft System to treat AAA The Endurant II Stent Graft System is placed into the abdominal aneurysm to provide an alternative channel for the flow of blood.
In October 2015, Medtronic also developed Valiant Thoracic Stent Graft to treat TAA. This device has shown exceptional performance in the treatment of thoracic aneurysms and has healed more than 65,000 patients across the globe.
Vascular grafts are mainly used in treating cardiovascular diseases caused mostly by obesity, hypertension and due to increase in the occurrence of coronary artery diseases, and are mostly due to change in lifestyle of people like with due consumption of alcohol and tobacco.
In 2017, according to the American Heart Association (AHA) statistics, approximately 92.1 million American adults are annually affected by the cardiovascular disease and stroke.
In India, Naryana Hrudalaya, Karnataka, healthcare department annually performs over 1200 open and 800 endovascular procedures.
Geographical Share
North America maintained its dominance in terms of market share for the year 2018, owing to a high prevalence rate of diabetes, cardiovascular diseases, and chronic kidney disease. For instance, in November 2017 according to Centers for disease control and prevention, every year about 735,000 Americans have an of these, 525,000 are a first heart attack and 210,000 happen in people who have already had a heart attack.
Over the forecast period, Europe is projected to be the most significant market share by region. In 2017, according to the European Heat Network Organization yearly Cardiovascular Disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU).
In 2017, according to John Hopkins Medicine statistics, the U.S. spends about USD 315 billion annually for cardiovascular disease management.
Competitive landscape
Prominent players of this market are Medtronic, LeMagitre Vascular Inc., Bard Peripheral Vascular Inc., Cook Medicals, W.L. Gore & Associates, Shanghai Suokang Medical Implants Co., Ltd, Juken medicals co. Ltd, Vascular Graft Solutions Ltd, C.R.Brad, B.Braun.Product launches, partnerships and expansions are expected some of the strategies adopted by players to increase their market share. For instance, in 2017, C.R.Bard introduced a carbon-impregnated (IMPRA carboflo) vascular grafts to treat peripheral vascular disease and hemodialysis access.
In April 2018 Vascular Graft Solutions Ltd (VGS) announces on enrollment of the first 20 patients into the VEST US pivotal trial that will evaluate the safety and effectiveness of the VEST, a novel external support device for treatment of saphenous vein graft disease after coronary artery bypass grafting (CABG).
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