Asia-Pacific Artificial Blood Vessels Market Growth Prospects 2024-2032

Asia-Pacific Artificial Blood Vessels Market Growth Prospects 2024-2032

As per Triton’s report, the Asia-Pacific artificial blood vessels market is estimated to progress in revenue at a CAGR of 6.53% during the forecast period 2024-2032.

The artificial blood vessels market in the Asia-Pacific region is growing rapidly, supported by significant advances in healthcare technologies and government-backed medical innovations. Countries like China and South Korea have been at the forefront, with China marking a notable achievement through the approval of the first domestically manufactured artificial blood vessel by Jiangsu Bioda Life Science Co, supported by the National Medical Products Administration (NMPA). This approval highlights China’s growing capabilities in med-tech innovation and regulatory support for advanced medical devices.

In South Korea, research institutions like the Korea Institute of Science and Technology (KIST) are developing artificial blood vessels using tissue engineering. This research is pivotal for improving organ transplant outcomes by simulating blood flow and pressure to reduce risks like clot formation. These developments are part of broader government healthcare initiatives across the region aimed at addressing the rise in cardiovascular diseases, promoting biotechnology research, and fostering innovation within the med-tech sector.

The countries reviewed in this region include China, Japan, ASEAN Countries, South Korea, Australia & New Zealand, India, and Rest of Asia-Pacific.

China leads with a major share, accounting for $226.14 million in 2023

Government healthcare initiatives and technological advancements drive the Chinese artificial blood vessels market. China’s ‘Healthy China 2030’ strategy provides a strong foundation for the development of advanced medical devices, including artificial blood vessels. This initiative focuses on addressing non-communicable diseases like cardiovascular conditions, which are major drivers for the adoption of artificial blood vessels.

The government has been actively promoting local production. For example, Jiangsu Bioda Life Science Co, based in Chongchuan district, commenced the mass production of the first domestic artificial blood vessels in 2023, marking a significant milestone for the industry.

These efforts are further supported by policies under the 14th Five-Year Plan (2021–2025), which focuses on healthcare innovation and improving health infrastructure, creating opportunities for the adoption of innovative treatments such as artificial blood vessels.

Market Forecast for South Korea

The South Korean government has prioritized innovation in healthcare, particularly in the development of high-tech medical devices. The Ministry of Health and Welfare (MOHW) and the Ministry of Food and Drug Safety (MFDS) are actively streamlining regulations to facilitate the development and approval of innovative medical technologies. This includes creating guidelines that promote AI and digital healthcare enhancing the environment for medical device companies to bring advanced products to market faster. Hence, these factors create novel opportunities for growth in the artificial blood vessels market.

The market is segmented based on type, blood vessel diameter, patient demographic, application, and end-user. Based on blood vessel diameter, it is sectioned into large, medium, and small.

Large artificial blood vessel grafts typically have a diameter ranging from 6 mm to 30 mm or larger, designed to replace or bypass major blood vessels like the aorta, iliac arteries, or femoral arteries. These grafts are engineered to withstand the high pressures and flow rates associated with the cardiovascular system’s major blood vessels. Large artificial blood vessel grafts are commonly used in procedures such as aortic aneurysm repair, where a section of the aorta, the body’s main artery, is replaced with a synthetic graft. The selection of the appropriate graft material and design for large blood vessel applications depends on various factors, including the specific location and diameter of the vessel being replaced, the anticipated blood flow rates and pressures, and the patient’s characteristics.

Contender Analysis in the Artificial Blood Vessels Market:

Jiangsu Bioda Life Science Co Ltd specializes in developing, producing, and distributing in vitro diagnostic products and equipment. Its range includes diagnostic reagents, instruments, and accessories, serving clinical laboratories and healthcare institutions. The company operates manufacturing facilities and has established sales channels, supplying its products both within China and internationally. Based in Jiangsu, China, it is active in both domestic and global markets.

The company’s product line includes the tubular woven membrane constructed from polyester with thicknesses ranging from 40μm to 70μm. It is customizable in size, accommodating varied applications.

Other notable companies in the market include Medtronic Plc, WL Gore and Associates Inc, Roumai Medical, and Lemaitre Vascular Inc.