Vascular Grafts Market Size
|2024 - 2029
|Base Year For Estimation
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
Vascular Grafts Market Analysis
During the time frame of the forecast, the vascular graft market is expected to register a CAGR of 5.7%.
The outbreak of COVID-19 had an impact on the vascular graft market due to the disruption in operations, supply chains, distribution systems, etc. Also, many elective procedures were canceled or postponed to control the spread of the coronavirus. For instance, according to the study published in the British Journal of Surgery in May 2020, based on 12 weeks of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide were canceled or postponed in 2020. Such studies show that the COVID-19 infection significantly impacted the vascular graft market over the forecast period. But with the return of elective surgeries and the leveling off of COVID-19 cases, the market is likely to get back to where it was before the pandemic.
Key factors driving market growth include the increasing number of dialysis procedures and rising chronic kidney disease (CKD) cases globally. As per the article published in the journal Kidney International Supplements in April 2022, chronic kidney disease, a progressive condition, has affected over 10% of the general population worldwide to date, accounting for more than 800 million individuals. Moreover, the prevalence of cardiovascular diseases, diabetes, and end-stage renal disease is also expected to drive the market. According to CDC data updated in July 2022, coronary heart disease is the most common type of heart disease, and approximately 20.1 million adults aged 20 and older have the disease in the United States. Since there are more chronic diseases around the world, there is a need for vascular grafts, which will drive the growth of the market over the next few years.
Moreover, according to data published in April 2022 by the CDC, there are more than 795,000 people affected by strokes in the United States each year. About 185,000 of these strokes, or roughly 1 in 4, occur in persons who have already had a stroke, and approximately 610,000 of them are first or recurrent strokes. As the number of strokes goes up, there is more demand for effective treatments like coronary artery bypass surgery and better cardiovascular devices. This is expected to drive market growth over the forecast period.
Furthermore, market players focusing on research and development are fueling 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 and acquisitions, collaborations, and partnerships adopted by key players to expand and strengthen the market will propel growth.
But in emerging economies, a low rate of reimbursement and rising out-of-pocket costs can slow market growth.
Vascular Grafts Market Trends
Kidney Failure Segment is Expected to Witness Growth Over the Forecast Period
The kidney failure segment is expected to witness the fastest growth during the forecast period owing to the increasing number of patients with kidney diseases, end-stage kidney failure, and the availability of procedures using grafts. Kidney Failure is treated by replacing a kidney through a kidney transplant. This process uses vascular grafts. The renal vessel is reconstructed in kidney transplantation using vascular grafts.
For instance, According to the article titled "Kidney Disease Statistics for the United States" published in 2021 nearly 786,000 people in the United States were living with ESRD with 71% on dialysis and 29% with a kidney transplant. Meanwhile, the number of patients who initiated peritoneal dialysis and who received a preemptive transplant reached an all-time high of 18,631. Additionally, in 2021, a report published by Kidney Foundation stated that around 4 million people have kidney disease in Canada, of which 46% of new patients are under 65. Moreover, as per the same source, the number of people living with end-stage kidney disease has grown by 35% since 2009. Hence, owing to the rising prevalence of chronic kidney diseases, the market is expected to witness high growth over the forecast period.
Furthermore, in May 2022, the California Institute for Regenerative Medicine (CIRM) awarded UC Davis Professor Aijun Wang a USD 3 million grant to develop a smart, durable vascular device for hemodialysis patients treated for kidney failure. This device uses a unique molecule that guides the body's stem cells to help prevent the failure of synthetic vascular grafts. In addition, Vascudyne will use its TRUE vascular graft in end-stage renal disease patients requiring hemodialysis access for the first time on a human in July 2021.
Thus, the growing number of people with end-stage kidney failure is likely to make more people want vascular grafts, which will also help the market grow.
North America is Expected to Retain Largest Market Share Over the Forecast Period
North America dominates the vascular graft market. North America maintained its dominant share due to the high prevalence rates of diabetes, cardiovascular diseases, and chronic kidney disease. The presence of reimbursement coverage and the availability of state-of-the-art healthcare infrastructure are driving the growth of this market in North America.
The major factor driving the market is the rising burden of various coronary heart diseases, such as stroke and cardiomyopathy, which cause a global burden of cardiac-related deaths. For instance, as per a report by the United States CDC with statistics updated in 2021, every 40 seconds, an American may have a heart attack. The rise in the prevalence of cardiac diseases is expected to boost the vascular graft market's growth in the coming years.
Moreover, as per the National Institute of Diabetes and Digestive and Kidney Diseases, in 2021, chronic kidney disease will affect more than 1 in 7 US adults, or an estimated 37 million Americans. With the increase in chronic kidney disease cases, there is a need for vascular grafts. This is expected to enhance market growth in the region during the forecast period.
Also, new product launches and approvals in the market will push the market to continue growing to new heights. For instance, in March 2021, Vascular Grafts Solutions (VGS) Ltd. received marketing clearance from the US FDA for the VIOLA, a new device for clampless proximal anastomosis in coronary artery bypass grafting (CABG).
Thus, because of the things listed above, the North American region is expected to grow a lot over the next few years.
Vascular Grafts Industry Overview
The Vascular Graft Market is fairly competitive and consists of several major players. Most of these major players enjoy a global presence, and they are facing intense competition in emerging economies. Key players in the market include Abbott Laboratories, B. Braun Melsungen AG, Bard Peripheral Vascular Inc. (BD), Cardinal Health (Cordis), Cook Medical, Cryolife, Getinge Group, LeMaitre Vascular Inc., Medtronic plc, Terumo Medical Corporation, and W.L. Gore & Associates Inc., among others.
Vascular Grafts Market Leaders
W.L. Gore & Associates Inc
LeMaitre Vascular Inc
Terumo Medical Corporation
*Disclaimer: Major Players sorted in no particular order
Vascular Grafts Market News
- October 2021: Terumo Aortic received approval for the Tero abdominal aortic stent grafts. This Japanese device will help in the treatment of abdominal aortic aneurysms.
- March 2021: Vascular Grafts Solutions (VGS) Ltd. announced today receipt of marketing clearance from the US FDA for the VIOLA, a new device for clampless proximal anastomosis in coronary artery bypass grafting (CABG).
Vascular Grafts Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Cardiovascular Disorders
4.2.2 Technological Advancements in the Scaffold Material and Design of Vascular Grafts
4.3 Market Restraints
4.3.1 Unfavorable Reimbursement Scenario
4.3.2 High Risk Associated with Graft Failures
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Hemodialysis Access Graft
5.1.2 Endovascular Stent Graft
5.1.3 Peripheral Vascular Graft
5.1.4 Coronary Artery By-pass Graft
5.2 By Application
5.2.2 Kidney Failure
5.2.3 Vascular Occlusion
5.2.4 Coronary Artery Diseases
5.2.5 Other Applications
5.3 By Raw Material
5.3.1 Synthetic Raw Material
5.3.2 Biological Raw Material
5.4.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
5.4.5 South America
220.127.116.11 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 B. Braun Melsungen AG
6.1.3 Becton, Dickinson and Company (Bard Peripheral Vascular Inc.)
6.1.4 Cardinal Health (Cordis Corporation)
6.1.5 Cook Medical
6.1.7 Getinge Group
6.1.8 LeMaitre Vascular Inc.
6.1.9 Medtronic PLC
6.1.10 Terumo Medical Corporation
6.1.11 W.L. Gore & Associates Inc.
6.1.12 Endologix Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Vascular Grafts Market Research FAQs
What is the current Vascular Graft Market size?
The Vascular Graft Market is projected to register a CAGR of 5.70% during the forecast period (2024-2029)
Who are the key players in Vascular Graft Market?
Abbott Laboratories, Cook Medical, W.L. Gore & Associates Inc, LeMaitre Vascular Inc and Terumo Medical Corporation are the major companies operating in the Vascular Graft Market.
Which is the fastest growing region in Vascular Graft Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Vascular Graft Market?
In 2024, the North America accounts for the largest market share in Vascular Graft Market.
What years does this Vascular Graft Market cover?
The report covers the Vascular Graft Market historical market size for years: . The report also forecasts the Vascular Graft Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Vascular Graft Industry Report
Statistics for the 2024 Vascular Graft market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vascular Graft analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.