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The vascular grafts market share is expected to increase by USD 1.55 billion by 2026, and the market's growth momentum will progress at a CAGR of 7.22%. This vascular grafts market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches.
The vascular grafts market report extensively covers market segmentations, including product (endovascular grafts, bypass grafts, hemodialysis grafts, and peripheral grafts) and geography (North America, Europe, Asia, and Rest of World (ROW))
The vascular grafts market vendors compiled and studied in this report are Abbott Laboratories, Artivion Inc., Aruga Technologies, B. Braun Melsungen AG, Becton Dickinson and Co., Bentley InnoMed GmbH, BIOTRONIK SE and Co. KG, BIOVIC Sdn Bhd, Cardinal Health Inc., Cook Group Inc., Endologix Inc., Getinge AB, Heart Medical Europe BV, InnAVasc Medical Inc., Japan Lifeline Co. Ltd., LeMaitre Vascular Inc., Lombard Medical Ltd., Medtronic Plc, MicroPort Scientific Corp., Terumo Corp., Vascular Graft Solutions Ltd., and W. L. Gore and Associates Inc. among others.
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The ubiquity of CVDs and other vascular disorders is notably driving the vascular grafts market growth, although factors such as risks and complications associated with vascular grafting may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the vascular grafts industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Vascular Grafts Market Driver
One of the key factors driving the global vascular grafts industry growth is the ubiquity of CVDs and other vascular disorders. For instance, in 2020, the CDC estimated that the primary cause of 15,000 deaths every year was due to Aortic aneurysms, and the same cause has been the reason behind the 9,863 deaths in the United States in 2014. In addition, in September 2021, CDC estimated nearly 116 million US adults have hypertension. Out of all affected individuals, nearly 47% of the people have control. In 2021, alone 37.3 million Americans have diabetes. Thus, the growing demand for vascular grafts due to the increased usage of CVDs, diabetes, and other chronic conditions will drive the market growth during the forecast period.
Key Vascular Grafts Market Trend
Technological improvements is one of the key vascular grafts market trends that is expected to impact the industry positively in the forecast period. Vendors are coming up with technologically advanced products to cater to the market demand.
These advancements across the product segment of vascular grafts will further support the market growth.
Key Vascular Grafts Market Challenge
One of the key challenges to the global vascular grafts industry growth is the risks and complications associated with vascular grafting and the use of off-level devices. The usage of off-label devices can sometimes give positive results. Thus, some countries are in favor of using off-label devices such as vascular grafts. For instance, Germany supports the usage of off-label vascular grafts for clinical settings. Since 2016, as per FDA, it has been observed that 15% of the off-label vascular stent grafts are used to perform complex AAA repairs. According to a comparative study named Clinical outcomes of Endurant II stent-graft for infrarenal aortic aneurysm repair: comparison of on-label versus off-label use, the off-label use of Medtronic's Endurant II was truly justified in patients, where the usage of conventional open surgery is not recommended. This may limit the market growth in the coming years.
This vascular grafts market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global vascular grafts market as part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the vascular grafts market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the vascular grafts market encompasses successful business strategies deployed by the key vendors. The vascular grafts market is fragmented and the vendors are deploying the following growth strategies to compete in the market:
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The vascular grafts market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the vascular grafts market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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42% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for vascular grafts in North America. Market growth in this region will be faster than the growth of the market in Europe and ROW.
The advances and improvements in the healthcare infrastructure, high prevalence of cardiovascular disorders and AAA, and increased healthcare expenditure by private entities will facilitate the vascular grafts market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The sudden outbreak of COVID-19 in countries across North America led to the imposition of lockdowns to prevent the spread of the infection in 2020. The increasing number of COVID-19 cases across North America has delayed many discretionary surgical procedures, including cardiac surgeries in healthcare facilities in the region, to avoid the risk of transmission of COVID-19 infection. However, the outbreak has prompted vendors to develop new business strategies such as online promotion activities and training for doctors to meet the high demand for vascular grafts. This will help the regional market to grow during the forecast period.
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The vascular grafts market share growth by the endovascular grafts segment will be significant during the forecast period. The growth is attributed to the outspread applications of endovascular grafts in treating AAA and the growing preference for MI EVAR.
This report provides an accurate prediction of the contribution of all the segments to the growth of the vascular grafts market size and actionable market insights on the post-COVID-19 impact on each segment.
Vascular Grafts Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.22% |
Market growth 2022-2026 |
$1.55 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.61 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 42% |
Key consumer countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Abbott Laboratories, Artivion Inc., Aruga Technologies, B. Braun Melsungen AG, Becton Dickinson and Co., Bentley InnoMed GmbH, BIOTRONIK SE and Co. KG, BIOVIC Sdn Bhd, Cardinal Health Inc., Cook Group Inc., Endologix Inc., Getinge AB, Heart Medical Europe BV, InnAVasc Medical Inc., Japan Lifeline Co. Ltd., LeMaitre Vascular Inc., Lombard Medical Ltd., Medtronic Plc, MicroPort Scientific Corp., Terumo Corp., Vascular Graft Solutions Ltd., and W. L. Gore and Associates Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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