The global vascular grafts market size is projected to reach at USD 3.30 billion by 2026 expanding at a CAGR of 6.4%, according to a report by Grand View Research, Inc. Endovascular stent grafts dominated the market in 2018 and is expected to be the second fastest-growing segment over the forecast period. Increasing prevalence of cardiovascular aneurysms is the leading cause of rise in demand for endovascular stent grafts. Low levels of physical activity, sedentary lifestyle, and substance abuse are some of the key factors leading to the high prevalence of renal and Cardiac Diseases (CVDs) globally. The impact of these factors is especially high in developed economies, such as North America and Europe. However, it is expected to shift towards emerging regions, such as Asia Pacific and Latin America, owing to changing demographics.
Key factors attributed to higher impact in these countries are increasing prevalence of aforementioned diseases in geriatric population, rising disposable income, and changing lifestyle patterns. Polytetrafluoroethylene (PTFE) raw material segment led the global market in 2018 with a revenue of USD 710.3 million. The segment is anticipated to expand at the fastest CAGR over the forecast period on account of PTFE graft’s advantages, such as protection against delamination and minimal blood loss. Asia Pacific is expected to be the fastest-growing market with a CAGR of 7.5% over the forecast period due to increasing public and private healthcare expenditure and availability of healthcare insurance across urban and rural centers.
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Endovascular stent grafts led the market in 2018 as a result of increased prevalence of cardiac aneurysms caused due to sedentary lifestyle and other occupational factors
PTFE grafts led the raw materials segment in 2018 owing to their advantages, such as minimal blood loss and maximum protection against delamination
Moreover, technological advancements in PTFE-based products is anticipated to drive the segment further
North America was the dominant regional market with a revenue of USD 620.9 million owing to high prevalence of CVDs and kidney diseases
The region is projected to maintain the dominance in future due to the presence of advanced healthcare facilities and reimbursement policies
Some of the key companies in this market include Medtronic, plc; LeMaitre Vascular Inc.; Terumo Corp.; Getinge AB; W.L. Gore and Associates, Inc.; and Cook Medical, Inc.
These companies focus on technological innovations, new product launches, and regional expansion to gain a competitive edge
Grand View Research has segmented the global vascular grafts market on the basis of product, application, raw material, and region:
Vascular Grafts Product Outlook (Revenue, USD Million, 2014 - 2026)
Vascular Grafts Application Outlook (Revenue, USD Million, 2014 - 2026)
Vascular Grafts Raw Material Outlook (Revenue, USD Million, 2014 - 2026)
Human Saphenous and Umbilical Veins
Tissue Engineered Materials
Vascular Grafts Regional Outlook (Revenue, USD Million, 2014 - 2026)
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