GVR Report cover Vascular Grafts Market Size, Share & Trends Report

Vascular Grafts Market Size, Share & Trends Analysis Report By Product, By Application (Cardiac Aneurysm, Kidney Failure, Coronary Artery Disease, By Raw Material (Polyester, Polyurethane), By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Sep, 2021
  • Base Year for Estimate: 2020
  • Report ID: 978-1-68038-628-8
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 120

Report Overview

The global vascular grafts market size was valued at USD 1.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% from 2021 to 2028. Key factors driving the market include the increasing prevalence of cardiovascular diseases, diabetes, and end-stage renal disease. As per the data published by the American Heart Association in January 2019, an estimated 121.5 million people in the U.S. are living with cardiovascular diseases, which include high blood pressure, chest pain, heart attack, and stroke. In addition, increasing customer spending power, supportive reimbursement policies associated with vascular surgeries, and a surge in the demand for technologically advanced products are expected to offer numerous growth opportunities during the forecast period.

U.S. vascular grafts market size, by product, 2018 - 2028 (USD Million)

The rising number of Minimally Invasive Direct Coronary Artery Bypass (MIDCAB) procedures is expected to facilitate market growth globally. According to the data published by NCBI in January 2018, Minimally Invasive Cardiac Surgery (MICS) has undergone substantial development in China. It indicated that minimally invasive approaches are reproducible and safe with acceptable aortic cross-clamp and Cardiopulmonary Bypass (CPB) duration as well as low mortality. Furthermore, the development of favorable surgical approaches using coronary artery stents and grafts is expected to propel the demand for these products. It is expected to witness a high penetration rate during the forecast period due to the development of vascular conduits with improved porosity and efficiency.

The COVID-19 pandemic has negatively impacted the market. It can be witnessed from the decline in the number of elective procedures due to the increasing focus among healthcare professionals to provide treatment to COVID-19 patients. For instance, Medtronic plc’s segment titled cardiac and vascular group registered a 9.0% decline in revenue in FY2020 as compared to FY2019. Continuous strain due to the COVID-19 outbreak has further impacted company operations, supply chains, and distribution systems including their ability to research and develop, and new product launches and services in the market.

The high availability of electrospun polyurethane vascular grafts, which minimize the risk of neointimal formation compared to Expanded Polytetrafluoroethylene (ePTFE), is anticipated to propel the demand for these products over the forecast period. Moreover, these prosthetic grafts are extensively used for complex surgical interventions, such as vascular reconstruction, due to the limited availability of autologous veins, especially in the case of small blood vessels. In August 2017, the article published by the National Library of Medicine stated that arteriovenous grafts made of Polyurethane (PU) offer the advantage of early cannulation with infection, high patency rates, and pseudoaneurysm formation like PTFE grafts. Another article published by the National Library of Medicine stated that the new PU grafts have better in vitro biocompatibility as compared to other prosthetic grafts. These aforementioned factors are anticipated to drive market growth in the coming years.

 

COVID19 Global vascular grafts market impact: 1.9% decrease in revenue growth from 2019 to 2020

Pandemic Impact

Post COVID Outlook

The global vascular grafts market decreased by 1.9% from 2019 to 2020

The market is estimated to witness a y-o-y growth of approximately 6.0 % to 7.0% in the next 5 years

Suspension or postponement of elective procedures by hospitals owing to the increasing strain of COVID-19 and rising focus on prioritization of COVID-19 associated treatments has significantly reduced the sales of these products.

Increasing strategic initiatives, development of novel products, and growing focus of healthcare facilities for the developing strategies to restart elective vascular surgical procedures once the pandemic stabilizes are expected to bolster the market growth post-COVID-19 outbreak.

The pandemic also affected operations, supply chains, product distribution, manufacturing, and other business activities of the market players globally, which, in turn, has negatively impacted the market growth.

The increasing prevalence of various health conditions and rising demand for minimally invasive procedures as compared to open procedures are anticipated to drive their adoption in the coming years.

 

Furthermore, the introduction of novel innovative solutions by industry players and adoption of various strategies, such as Mergers and Acquisitions (M&A), collaborations, product approvals, and partnerships. It will expand its footprint to maintain a competitive edge and supporting end-users in delivering value-based care. For instance, the following are few strategies adopted by these players:

  • In July 2018, BD announced the acquisition of TVA Medical, Inc. It allowed BD to provide everlinQ endoAVF system, which was expected to further improve the company's ability for serving physicians as well as their patients by offering a minimally invasive option for the creation of critical AV fistulas for hemodialysis procedures.

  • In December 2017, BD announced the acquisition of C. R. Bard, Inc. It aimed to build the company's leadership in infection prevention and medication management with an expanded solutions portfolio across the care continuum and enhance growth opportunities outside the U.S. market.  

Product Insights

In 2020, the endovascular stent-grafts product segment dominated the market and accounted for the largest revenue share of 64.5%. Increasing acceptance of endovascular stent-grafts, especially for the treatment of thoracoabdominal aortic aneurysm, is expected to boost usage of these products thereby, aiding the market growth. In addition, these stent-grafts, in combination with antibiotics, can be used as an alternative for the treatment of the mycotic aneurysm. The rapid development of endovascular approaches, which have reduced the need for conventional open thoracic aorta surgeries, is anticipated to propel the demand for endovascular stent grafts during the forecast period. Reduced hospital stays and less painful and faster recovery as compared to open chest thoracic aneurysm surgeries are advantages associated with endovascular grafts, which is further aiding their adoption.

However, the peripheral vascular grafts segment is anticipated to register the fastest growth during the forecast period. The increasing prevalence of renal failure and hardening of arteries is driving the segment growth. In addition, technological advancements associated with the development of advanced products for treating Peripheral Artery Diseases (PAD) are expected to further propel the market growth. For instance, the spiral flow peripheral vascular graft utilized for reconstructing damaged blood vessels provides better patency when compared to polytetrafluoroethylene grafts.

Application Insights

In 2020, the cardiac aneurysm segment dominated the market and held the largest revenue share of 60.7%. It can be attributed to the rising geriatric population, increasing cases of high blood pressure and high cholesterol levels, unhealthy lifestyle habits, and the adoption of advanced tissue-engineered grafts for pediatric congenital heart surgeries. Unfavorable outcomes of the mechanical devices and rising number of treatment failures for CVDs, including organ transplant failure and surgical reconstruction, are propelling the transition towards minimally invasive vascular implants, which is anticipated to boost the demand for these cardiac aneurysm products.

The vascular occlusion segment is anticipated to register the fastest CAGR during the forecast period. Easy availability of graft procedures, especially the saphenous vein graft, and increasing prevalence of vascular occlusive diseases are factors driving the demand for these products for this application. In addition, a rise in the number of synthetic graft implantations for vascular occlusive diseases, such as Polytetrafluoroethylene (PTFE), is anticipated to bolster market growth in the coming years.

Raw Material Insights

The polytetrafluoroethylene vascular graft segment dominated the market and held the largest revenue share of 46.5% in 2020. The segment is anticipated to register the fastest growth during the forecast period. PTFE is developed using a technologically sophisticated design that results in low blood loss and high delamination resistance. PTFE is also used in extra-anatomical procedures and peripheral bypasses. Hence, these products are anticipated to gain more market share during the forecast period. In addition, technological advancements aiding the development of new products, such as modification of argon plasma-treated PTFE, are anticipated to bolster segment growth over the forecast period.

Global vascular grafts market share, by raw material, 2020 (%)

The polyester vascular grafts segment is also expected to witness significant growth during the forecast period. Easy availability of raw material, high tensile strength, and durability are key factors that attributes to its market share. For instance, FlowNit BIOSEAL vascular grafts, offered by JOTEC GmbH, are knitted polyester grafts with low dilatation and high burst strength. Furthermore, extensive use of Dacron durable polyester incorporated with mitogenic properties and an increasing number of clinical trials for the development of highly durable polyester grafts are expected to drive market growth over the forecast period.

Regional Insights

North America dominated the vascular grafts market and accounted for the largest revenue share of 30.4% in 2020. The prominent drivers of the market are increased awareness and improved health care facilities for cardiovascular treatment. Constant technological developments followed by discoveries of specific tissue-engineered products trigger the growth of biomaterials vascular grafts. Key factors attributing to the market growth include better reimbursement policies, advanced technological facilities, successful initiatives, and accurate diagnostic procedures through biometric tools. Furthermore, ongoing research about the development of advanced biomaterial grafts is expected to heighten the demand for these products during the forecast period.

However, in MEA, the market is expected to register the fastest growth during the forecast period. The rising incidence of cardiovascular diseases, diabetes, and end-stage heart and kidney failures is expected to boost the usage rates of vascular grafts in minimally invasive procedures over the forecast period. In addition, the increasing number of premature deaths due to cardiac disorders is also poised to foster overall growth. In addition, the availability of effective treatment options and rapid diagnosis of cardiovascular diseases is expected to propel the regional growth of vascular grafts over the forecast period.

Key Companies & Market Share Insights

Partnerships, collaborations, mergers and acquisitions, and the development of new products are the key strategies adopted by these players to gain a competitive edge in the market. For instance, in November 2019, Terumo Corporation announced the acquisition of Aortic Corporation. The acquisition supported the growth of the company’s vascular grafts business and contributing toward personalized aortic therapy. Some of the prominent players in the vascular grafts market include:

  • Medtronic plc

  • Terumo Corporation

  • LeMaitre Vascular, Inc.

  • C.R. Bard; W.L. Gore and Associates, Inc.

  • Cook Medical

  • Shanghai Suokang Medical Implants Co. Ltd.

  • Getinge AB

Vascular Grafts Market Report Scope 

Report Attribute

Details

Market size value in 2021

USD 1.7 billion

Revenue forecast in 2028

USD 2.7 billion

Growth Rate

CAGR of 6.8% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, raw material, and region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Russia; Japan; China; India; Australia; Singapore; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE

Key companies profiled

Medtronic plc; Terumo Corporation; LeMaitre Vascular, Inc.; Getinge AB; Cook Medical; C.R. Bard; W.L. Gore and Associates, Inc.; and Shanghai Suokang Medical Implants Co. Ltd.; Getinge AB

Customization scope

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research, Inc. has segmented the global vascular grafts market report on the basis of product, application, raw material, and region:

  • Product Outlook (Revenue, USD Million, 2016 - 2028)

    • Hemodialysis Access Grafts

    • Endovascular Stent Grafts

    • Coronary Artery By-Pass Grafts

    • Vascular Grafts for Aorta Disease

    • Peripheral Vascular Grafts

  • Application Outlook (Revenue, USD Million, 2016 - 2028)

    • Cardiac Aneurysm

      • Endovascular Stent Graft

      • Vascular Graft

    • Kidney Failure

    • Vascular Occlusion

    • Coronary Artery Disease

  • Raw Material Outlook (Revenue, USD Million, 2016 - 2028)

    • Polyester Vascular Grafts

    • Polytetrafluoroethylene Vascular Grafts

    • Polyurethane Vascular Grafts

    • Biological Material Based Vascular Grafts

      • Human Saphenous and Umbilical Veins

      • Tissue Engineered Materials

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

      • Russia

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

      • Singapore

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • MEA

      • South Africa

      • Saudi Arabia

      • UAE

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