Vascular Patches Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022-2027)

The Vascular Patches Market is segmented by Material (Biologic Vascular Patches and Synthetic Vascular Patches), Application (Carotid Endarterectomy, Aortic Aneurysms, Profundaplasty, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America).The report offers the value (in USD million) for the above segments.

Market Snapshot

vascular patches market revenue
Study Period: 2019-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 7.4 %

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Market Overview

The deferral of normal care, in addition to COVID-19–related sequelae, has had a substantial influence on the health of vascular surgery patients because of patients postponing hospital exposure and diversion of health care resources to emergent care. According to a study published in July 2021 titled "The impact of the COVID-19 pandemic on vascular surgery: Health care systems, economic, and clinical implications," despite no regional variance in the implementation of COVID-19 operating room rules, availability of personal protective equipment (PPE), or adherence to national surgical standards, many respondents reported elective surgery cancellations. Only 8.3% of responders performed elective cases in the hospital setting, with dialysis access being the most common, followed by aortic repair and lower extremity revascularization. Most vascular surgeons reported disruptions to their outpatient laboratory/ambulatory center schedules, since most were doing urgent surgeries focused solely on advanced peripheral artery disease and dialysis access in this context.

Due to the pandemic, vascular surgery services and access to care have been significantly hampered. The delivery of vascular care has undergone significant alterations. Many of vascular surgeons working in outpatient clinics and ambulatory care said their practice has changed, including limited hours and the utilization of telemedicine services. The Department of Health and Human Services and the Centers for Medicare and Medicaid Services have pushed for telemedicine expansion by establishing reimbursement parity for in-person and virtual patient visits and expanding telehealth coverage to a wider range of appointments. Only 48.8% of surgeons with office-based laboratories remained operating, and their services were mostly limited to emergency treatments like dialysis access and peripheral arterial disease. Inpatient services were also impacted considerably.

The growth of the vascular patches market is due to the benefits linked with stenosis or occlusion of blood vessels. Presently, autologous vessels, like the saphenous vein and internal thoracic artery, are the gold standard for several vascular surgeries. The present trend involves a significant demand for synthetic vascular patches due to the presence of well-established polymeric biomaterials companies across several countries, globally.

The application segment is majorly due to the prevalence of cardiovascular diseases. The high prevalence of stroke and ischemic heart diseases, leading to a large number of hospital admissions, leads to a higher demand for vascular patch use in hospitals. A large number of carotid endarterectomies are performed globally. This is considered a well-established procedure across multiple hospitals, which primarily demands the use of vascular patches.

Scope of the Report

As per the scope of the report, a vascular patch is produced from polyester-urethane and is characterized by an excellent biocompatibility and proven long-term mechanical stability. It is used for the closure of vascular surgery, which is preferred by several surgeons for procedures associated with carotid, profunda, and iliac and femoral arteries. The Vascular Patches Market is segmented by Material (Biologic Vascular Patches and Synthetic Vascular Patches), Application (Carotid Endarterectomy, Aortic Aneurysms, Profundaplasty, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America).The report offers the value (in USD million) for the above segments. The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally.

By Material
Biologic Vascular Patches
Synthetic Vascular Patches
By Application
Carotid Endarterectomy
Aortic Aneurysms
Profundaplasty
Other Applications
Geography
North America
United States
Canada
Mexico
Europe
United Kingdom
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

The Aortic Aneurysms Segment is Expected to Exhibit the Fastest Growth Rate over the Forecast Period

In the United States, the COVID-19 outbreak has caused several elective procedures to be postponed or canceled. According to a study titled "The impact of the COVID-19 pandemic on vascular surgery practice in the United States," vascular surgeons in the United States report that the COVID-19 pandemic had a significant influence on their practices. Elective surgery cancellation was mentioned by the vast majority of respondents, with the Northeast and Southeast regions having the most cases canceled (94.2% and 95.8%, respectively).

Pseudoaneurysm of the ascending aorta is a rare but potentially fatal complication after cardiovascular surgery, and it can result in a rupture. A small, localized saccular pseudoaneurysm of the aorta is often treated with quick patch repair rather than tube graft replacement.

As per a 2019 report by Ronald L Dalman et al., certain forms of aortic aneurysm like abdominal aortic aneurysm (AAA) are uncommon among people under the age of 60 years. About 1 person in 1,000 develops AAA between the ages of 60 and 65 years, and this number continues to rise with age. The report also observes that AAAs occur in up to 13% of men and 6% of women over the age of 65 years. Moreover, the global geriatric population is also on the rise, especially in developed regions of the world. For instance, in the United States, the population aged 60 years and above is expected to increase from 21.5% in 2017 to 27.8% by 2050. This factor is also expected to increase the incidence of aortic aneurysm, which will increase the demand for vascular patches, helping in the market growth.

vascular patches market analysis

North America Captured the Largest Market Share and is Expected to Retain its Dominance

North America holds the largest share in the vascular patches market, with the United States being the largest contributor to its revenue. The United States spends a significant percentage of its GDP on healthcare, each year. According to the recent report of the Organization for Economic Co-operation and Development (OECD), 2018, about 18% of the GDP is spent on healthcare. This has driven the research and development in the region and also promoted awareness regarding vascular patches.

Additionally, the increasing prevalence of vascular diseases is the major factor expected to drive the overall growth of the market during the forecast period. Furthermore, there is a rise in the geriatric population in the United States, which is expected to create more opportunities for the market in the country.

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Competitive Landscape

The vascular patches market is highly competitive and consists of several major players. The presence of major market players, such as Terumo Corporation, Baxter International, Getinge AB (Maquet), B. Braun Melsungen AG, and Becton, Dickinson, and Company, is, in turn, increasing the overall competitive rivalry in the market.

Recent Development

  • In September 2021. the company Terumo Corporation announced the launch of global surgical graft study known as PANTHER, which is a prospective and retrospective study of a comprehensive range of knitted and woven surgical grafts and cardiovascular patches.
  • In June 2021, Axio Biosolutions announced the US Food and Drug Administration's clearance of its product Axiostat Patch, which basically helps in the control of moderate to severe bleeding in vascular procedures.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Rapidly Growing Geriatric Population and Increase in the Prevalence of Vascular Diseases

      2. 4.3.2 Increasing Adoption of Biological Patches

    4. 4.4 Market Restraints

      1. 4.4.1 Risk of Immune Response and Serious Complications

      2. 4.4.2 Product Failures and Recalls

    5. 4.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value – USD million)

    1. 5.1 By Material

      1. 5.1.1 Biologic Vascular Patches

      2. 5.1.2 Synthetic Vascular Patches

    2. 5.2 By Application

      1. 5.2.1 Carotid Endarterectomy

      2. 5.2.2 Aortic Aneurysms

      3. 5.2.3 Profundaplasty

      4. 5.2.4 Other Applications

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 United Kingdom

        2. 5.3.2.2 Germany

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle East & Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle East & Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Lemaitre Vascular

      2. 6.1.2 Baxter International

      3. 6.1.3 Getinge AB (Maquet)

      4. 6.1.4 B. Braun Melsungen AG

      5. 6.1.5 W. L. Gore & Associates

      6. 6.1.6 Cryolife

      7. 6.1.7 Edwards Lifesciences

      8. 6.1.8 Terumo Corporation

      9. 6.1.9 Aziyo

      10. 6.1.10 Vascumed (Pty) Ltd

      11. 6.1.11 Celox Medical

      12. 6.1.12 Collagen Solutions Plc

      13. 6.1.13 FOC Medical S.A.

      14. 6.1.14 Obex

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Vascular Patches Market market is studied from 2019 - 2027.

The Vascular Patches Market is growing at a CAGR of 7.4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

B. Braun Melsungen AG, Baxter International Inc, Getinge AB, Terumo Corporation, Edwards Lifesciences Corporation are the major companies operating in Vascular Patches Market.

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