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Vascular Graft Market Forecast 2018-2024| $3.6 Bn by 2024

Author : Rahul Sankrityayan | Published Date : 2019-04-10 

The Vascular Graft Market is set to exceed USD 3.6 billion by 2024; according to a new research report by Global Market Insights. Rising pervasiveness of cardiovascular diseases and aortic aneurysms coupled with chronic kidney disease will boost market growth during the foreseeable future. Rising incidence of cardiac disorders is attributable to adoption of sedentary lifestyle along with unhealthy diet and alcohol abuse. High number of cardiovascular diseases will spur market growth in the upcoming years.

Growing need for development of innovative and advanced vascular grafts for cerebrovascular treatments will positively impact vascular graft business growth. For instance, Medtronic developed Endurant II Stent Graft System for treatment of abdominal aortic aneurysms. This product offers accurate placement and controlled deployment for flexible and kink-resistant delivery of the graft. In addition, development of cell free and tissue-engineered vascular grafts will minimize complications associated with conventional grafts. Such advancements will foster vascular graft market growth in the foreseeable future.

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Polyester graft segment will grow at 6.8% owing to ease of material availability, high durability, and tensile strength. Polyester can also be used as base material for development of various biosynthetic grafts having less chance of rejection and superior patient outcome. Polyester grafts are used in various types surgical procedures for treatment of aortic aneurysms, peripheral arterial disease, and hemodialysis access. This will contribute to rapid Vascular Graft Market growth during the projected timeframe.

Endovascular aneurysm repair segment held largest revenue, contributing to USD 996.5 million in 2017. Segmental growth is attributable to rising number of chronic cardiovascular diseases coupled with increasing demand for minimally invasive surgical procedures. Rapid healing and reduced hospital stay are among the major advantages of endovascular aneurysm repair. This will lead into momentous segmental growth over forecast timeframe.

Vascular grafts are known to save patients with a high risk of heart attack and other artery damages. The advent of advanced bypass surgeries has made it easier for vascular graft industry to amass commendable returns. It is rather prudent to mention that regulatory bodies and research institutes have also played a significant role in the growth of this vertical. Recently, in 2018, the FDA provided the green signal for a device developed to treat endovascular aortic aneurysm that demands a minimally invasive surgical procedure. Driven by the fact that endovascular aneurysm repair offers a cost-effective treatment to patients afflicted with abdominal aortic aneurysm as compared to open repair, endovascular aneurysm repair accounted for USD 996.5 million in vascular graft industry share.

As of now, with the rapid invention in the vascular grafts, leading players in the vascular graft market have been extending their product reach, aided by regulatory bodies. The worldwide acceptance for their innovative products will have a remarkable influence on the industry growth over the years ahead. The recent approval for GORE®’s Molding & Occlusion Balloon, that can be used for endovascular aortic repair, from Japan, U.S., and Europe, validates the aforementioned fact. With this approval, GORE® has successfully expanded its reach across three leading regions of the vascular graft market. The capability of these devices to reduce possible complications related to the ease of access, as well as excellent ability in assisting self-expanding stent grafts are poised to stimulate vascular graft industry size.

The increasing availability of high-quality medical facilities related to vascular grafts across the globe will have a remarkable influence on the product demand. In addition, the rise in the number of patients having kidney and cardiovascular diseases will further enhance the industry growth. Powered by the implementation of supportive healthcare policies by the governments of myriad geographies, the overall vascular graft market will surpass revenue collection of USD 3.6 billion by the end of 2024.

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Some of the prominent players involved in vascular graft market are Becton Dickinson (C.R. Bard), B. Braun, Cryolife (Jotec), Cook Medical, Endologix, Getinge AB, LeMaitre Vascular, Medtronic PLC, Terumo GmbH and W.L. Gore and Associates. These firms are adopting strategic alliances like mergers and acquisitions and new product launch to strengthen market position. For instance, in November 2016, LeMaitre Vascular acquired assets of Restore Flow Allografts. This acquisition will broaden its product portfolio and strengthen the company’s market presence for long-term growth in future.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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