Market Size of Vascular Graft Industry
| Study Period | 2024 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.70 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*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.
