Global Vascular Graft Market - 2023-2030

Global Vascular Graft Market - 2023-2030

Market Overview

The global vascular graft market reached US$ 2,483.3 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 4,404.0 million by 2030. The vascular graft market is expected to exhibit a CAGR of 7.6% during the forecast period (2023-2030).

Vascular grafts are medical devices that connect blood vessels during vascular bypass treatments to redirect blood flow from one location to another. They help to circumvent constrictions in blood arteries, restore blood flow to injured areas, and avoid problems like heart attacks and strokes during a variety of surgical operations.

The rising frequency of cardiovascular illnesses, technical improvements in vascular surgery, and the aging population are all expected to contribute to the global vascular graft market growth over the forecast period.

Market Dynamics

The Rising Number of Dialysis Procedures and a Rise in Cases of Chronic Kidney Disease (CKD) Are Expected to Drive the Global Vascular Graft Market Growth.

The growing number of dialysis procedures and a rise in cases of chronic kidney disease (CKD) worldwide are driving the growth of the global vascular graft market. CKD is a degenerative disease that now affects more than 800 million people worldwide. For instance, according to research that was published in the Journal Kidney International Supplements in 2022, the rising prevalence of CKD will increase the demand for vascular grafts in dialysis procedures.

Furthermore, according to the report by the American Kidney Fund, renal disease affects approximately 37 million Americans, and kidney failure, one of the top 10 leading causes of mortality in the country, affects around 810,000 people. Therefore, owing to the above factors, the global vascular graft market will witness growth over the forecast period.

The Global Vascular Graft Market May Face Constraints Due to High Cost of Vascular Grafts.

The high cost associated with the vascular graft is the major restraint for global vascular graft market growth. The vascular graft prices vary based on the kind of material used and how complicated the surgery is, for instance, synthetic grafts tend to be less expensive than biological ones, but they might not always be as successful. The products could not be affordable for patients in underdeveloped nations or for those without insurance because of their high price.

COVID-19 Impact Analysis

Due to the disruption in business operations, supply chains, distribution systems, etc., the COVID-19 outbreak had a negative effect on the market for vascular grafts. In order to stop the coronavirus from spreading, other elective procedures were either cancelled or put off. Additionally, because healthcare providers were concentrating on COVID-19 treatment, fewer non-essential surgeries were performed.

Russia Ukraine Conflict Analysis

The world market for vascular grafts has not been specifically impacted by the conflict between Russia and Ukraine. Although the conflict has caused geopolitical unrest and economic sanctions, the production and distribution of vascular grafts are not heavily reliant on either Russia or Ukraine. The majority of the top market participants for vascular grafts are multinational corporations with operations and supply networks dispersed around the globe.

Vascular grafts are mostly employed in medical treatments, and rather than being influenced by geopolitics, the demand for these devices is largely driven by patient demands and healthcare regulations. The Russia-Ukraine war is only anticipated to have a transient and small-scale impact on the availability of vascular grafts, , but any prolonged conflict or instability in the region could have wider implications for the global healthcare industry, including the vascular grafts market.

Segment Analysis

The global vascular graft market is segmented based on product, raw material, end user, and region.

The Hospitals Segment is Expected to Dominate the Global Vascular Graft Market.

The hospitals sgement dominated the global vascular graft market and accounted the highest vascular graft market share of 38.3%. Vascular grafting is one of the many surgical procedures that have become more common in hospitals as a result of the rising burden of chronic illnesses including cardiovascular disease and chronic renal disease. As a result, hospitals make up the majority of vascular transplant end users.

The expansion of the hospital end user sector is also being fueled by the availability of public and private insurance programmes for hospital treatments. Vascular graft surgeries can be obtained by patients through insurance plans, which increases their accessibility and affordability. Therefore, owing to the above factors, the hospiatals segment is likely to play major role in accelarating the global vascular graft market growth.

Geographical Analysis

North America Region Holds The Largest Market Share of the Global Vascular Graft Market.

The global vascular graft market is dominated by North America and holds 1/3rd market share, due to the high prevalence of diabetes, cardiovascular disease, and chronic kidney disease. The expansion of this market in North America is being fueled by the presence of reimbursement coverage and the accessibility of cutting-edge healthcare infrastructure. The expansion of biomaterials vascular grafts is sparked by ongoing technical advancements that are followed by the identification of particular goods made via tissue engineering.

Furthermore, the better reimbursement policies, cutting-edge technology, effective initiatives, and precise diagnostic processes using biometric instruments are some of the major contributors to the market's growth. Moreover, it is anticipated that ongoing research into the creation of advanced biomaterial grafts will increase demand for these products in the area.

Competitive Landscape

The major global players in the market include Abbott Laboratories, Braun Melsungen AG, Bard Peripheral Vascular Inc., Cardinal Health (Cordis Corporation), Cook Medical, Cryolife, Getinge Group, LeMaitre Vascular Inc, Medtronic PLC, and W.L. Gore & Associates Inc.

Why Purchase the Report?
• To visualize the global vascular graft market segmentation based on product, raw material, end user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of global vascular graft market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global vascular graft market report would provide approximately 53 tables, 54 figures and 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies