Market Trends of Vascular Graft Industry
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.
