Vascular Grafts Market Size, Share & Trends Analysis Report By Product (Hemodialysis Access Grafts, Endovascular Stent Grafts), By Application, By Raw Material, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global vascular grafts market size was valued at USD 1.7 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 7.0% from 2022 to 2030. Key factors driving the market growth include the increasing number of dialysis procedures and rising chronic kidney disease (CKD) cases globally. Worldwide, over 2 million people receive treatment for dialysis. Around 37 million people in the U.S. and 3 million people are estimated to suffer from CKD. Moreover, the prevalence of cardiovascular diseases, diabetes, and end-stage renal disease is also expected to drive the market. Cardiovascular disease (CVD) is the leading cause of death in the U.S. and according to the data published by World Health Organization, an estimated 17.9 million people died due to CVD in 2019.

Moreover, the rising healthcare expenditure, availability of reimbursement policies, and rising demand for products with technological advancements are expected to offer multiple opportunities for market growth during the forecast period. Technological advancement is fostering the development of next-generation tissue-engineered vascular grafts to treat various vasculopathies. This technique rationally addresses critical challenges like intimal hyperplasia, thrombosis, and constructive graft remodeling.

Also, with the increasing demand for minimally invasive procedures, the adoption of MIDCAB procedure has risen, as it is safe and has a low mortality rate. Also, it is compatible with aortic cross-clamp and cardiopulmonary bypass. Furthermore, the advancement in surgical procedures using coronary artery stent-grafts is anticipated to impel the demand for vascular grafts in upcoming years.

COVID-19 Global vascular grafts market impact: 1.9% decrease in revenue growth from 2019 to 2020

The outbreak of COVID-19 had a negative impact on the vascular grafts market due to the disruption in operations, supply chains, distribution systems, etc. Also, with the intent of controlling the spread of coronavirus, many elective procedures were canceled or postponed. Also, the healthcare professionals were focusing on COVID-19 treatment which declined the number of other non-essential surgeries. This resulted in a decline in revenue. For instance, in 2020, the cardiac and vascular group of Medtronic plc’s witnessed a 9.0% decrease in revenue as compared to 2019.

The extensive use of prosthetic grafts such as electrospun polyurethane vascular grafts for complex vascular trauma as it reduces the risk of neointimal formation is expected to propel the market over the forecast period.

Furthermore, the market players focusing on the introduction of innovative products are adding fuel to the market growth. For instance, in September 2021, Terumo Aortic launched PANTHER - a global surgical graft study of knitted and woven surgical grafts. Also, strategies such as mergers & acquisitions, collaborations, and partnerships adopted by key players to expand and strengthen the market are propelling the growth.

Product Insights

In 2021, the endovascular stent-grafts product segment dominated the market with a share of 63.8%. The rising adoption of endovascular stent-grafts to treat aneurysms including thoracic aortic aneurysms is the major factor contributing to the market growth. However, these endovascular stents - grafts are specially used for the treatment of abdominal aortic aneurysm (AAA), thereby impelling the growth.

Also, the mycotic aneurysm can be treated using these stent-grafts in combination with antibiotics. Moreover, a shift towards EVAR rather than conventional open thoracic aorta surgeries and technical development of endovascular application is expected to raise the demand for endovascular stent-grafts. Furthermore, the endovascular grafts help to recover fast and are less painful when compared to open surgeries of the chest. Also, it results in reduced hospital stays, thereby increasing its adoption.

However, the peripheral vascular grafts segment is expected to witness the fastest growth during the forecast period owing to the rising rate of renal failure and hardening of arteries. In addition, technological advancement in the development of products to treat peripheral artery disease is expected to impel the segment growth over a forecast period.

Application Insights

In 2021, the cardiac aneurysm segment held the largest market share of 51.9% owing to the rising prevalence of high blood pressure, rising cholesterol levels, sedentary lifestyle, and growing geriatric population. Also, congenital heart surgeries carried out using advanced tissue-engineered grafts are fostering segment growth. Moreover, the increasing incidences of organ transplant failure and surgical reconstruction for cardiovascular diseases have raised the adoption of minimally invasive vascular implants, thereby boosting the demand for cardiac aneurysm products.

The vascular occlusion segment is expected to witness the fastest growth during the forecast period owing to the increasing number of patients with vascular occlusion disease and the availability of procedures using grafts. Also, the treatment of vascular occlusion using synthetic grafts such as polytetrafluoroethylene (PTFE), is expected to impel market growth during the forecast period

Raw Material Insights

The Polytetrafluoroethylene segment held the market revenue share of 46.4% in 2021 owing to its advantages such as high patency rates, high-pressure tolerance, etc. Also, it adequately interacts with the tissue and is easy to use. Therefore, they are extensively used for peripheral bypass procedures and extra-anatomical surgeries. Moreover, technological modifications such as PTFE treated with argon plasma for the development of innovative products are expected to boost the segment growth.

The polyester vascular graft segment is anticipated to register significant growth owing to the availability of raw materials and advantages such as durability and robustness. For instance, AbloGraft, and Polyester Vascular Graft offered by LeMaitre, are knitted and woven grafts that allow for deep penetration of bovine skin collagen and are manufactured with advanced sealant technology.

Moreover, due to the rise in the number of patients with vascular heart disease, the demand for functional polyester vascular grafts with small diameters has greatly increased, thereby positively impacting the segment growth.

Regional Insights

North America held the largest market share of 30.2% in 2021 owing to the rising health awareness and availability of health care facilities for cardiovascular treatment in the region. Also, the availability of reimbursement policies and the adoption of advanced technological procedures are impelling the market growth.

Furthermore, the use of biometric tools to accurately diagnose the disease and technological developments and discoveries of tissue-engineered products are impelling the growth of biomaterials vascular grafts. Furthermore, the ongoing R&D for the development of grafts using advanced biomaterial is expected to drive the market over a forecast period.

However, Asia Pacific is expected to register the fastest growth during the forecast period. The region is heavily burdened by the increasing number of patients with cardiovascular diseases. Moreover, the population suffering from chronic kidney problems, end-stage heart disease, diabetes, etc. is anticipated to fuel market growth. In addition, the cardiac disorders leading to premature deaths are anticipated to foster market growth.

Key Companies and & Market Share Insights

Partnerships, collaborations, mergers & acquisitions, and the development of new products are the key strategies adopted by key players operating in the market to gain a competitive edge in the market. For instance, in November 2019, Terumo Corporation announced the acquisition of Aortic Corporation. The acquisition aided the growth of the company’s vascular grafts business segment and contributed toward personalized aortic therapy.

Also, 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. Some of the prominent players operating in the vascular grafts market include:

• Medtronic plc

• Getinge AB

• LeMaitre Vascular, Inc.

• W. L. Gore and Associates, Inc.

• Cook Medical

• C. R. Bard

• Terumo Corporation

• Shanghai Suokang Medical Implants Co. Ltd.

Vascular Grafts Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2030. For the purpose of this study, Grand View Research, Inc. has segmented the global vascular grafts market report based on product, application, raw material, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2030)

  • 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 - 2030)

  • Cardiac Aneurysm

    • Endovascular Stent Graft

    • Vascular Graft

  • Kidney Failure

  • Vascular Occlusion

  • Coronary Artery Disease

• Raw Material Outlook (Revenue, USD Million, 2016 - 2030)

  • 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 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Singapore

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • MEA

    • South Africa

    • Saudi Arabia

    • UAE