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25th
April 2019 - The
Global Vascular Graft Market is subject to witness a substantial growth due to
the increasing occurrence of cardiac disorders, diabetes, end-stage renal
disorders, and coronary artery disease (CAD). Increasing prevalence of
hypertension and cardiac aneurysms are predicted to boost market demand for
vascular graft as well.
Other factors such as genetic and hereditary disorders, changing
lifestyle, increasing alcohol consumption, varying food preferences are
anticipated foster market growth in the near future. However, decline in
reimbursement rate and increasing cost of medical treatment are restraining the
market growth. Globally, the vascular graft market is predicted to grow at high
CAGR over the forecast period, providing numerous opportunities for market
players to invest in research and development in the vascular graft market.
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Growing prevalence of Ischemic Heart Disease (IHD) condition, which is
considered as one of the leading cause of the cardiac arrest across the world,
is expected fuel market demand for vascular graft over the forecast period. As
per the British heart foundation, as many as two million patient suffering from
heart condition is accounted in the U.K only. While, more than seventy thousand
deaths have been reported each year.
Additionally, increasing occurrence of end-stage renal disease is
considered as one of the major driver for market growth in the recent years.
The recent technological advancement in the healthcare sector and development
of the novel products such as prosthetic grafts with highly advanced porosity
and efficiency along with rising approval rate for regular use are driving
market growth in last few years.
Furthermore, factors such as rising cases of surgical failures during
treatment of cardiovascular disorders, failure of organ transplantation
surgeries, and undesirable results during surgical reconstruction procedures
are anticipated to encourage use of minimally invasive vascular implants,
thereby amplifying market value of vascular implants, in the recent years. In
addition, growing preference for minimally invasive implants by healthcare
professionals, doctors and surgeons are estimated to augment the growth of
vascular graft markets over the forecast period.
The vascular graft market is broadly categorized into four major types
based on product such as coronary artery bypass graft, peripheral grafts,
hemodialysis access, and endovascular stent grafts. The endovascular grafts is
considered as one of the fastest growing segment in the vascular graft market
with substantial revenue generation in the last couple of years. Growing
popularity of the endovascular grafts is attributed to rising amount of
abdominal aortic aneurysm processes alongside minimum potential of access site
complications.
Additionally, minimum mortality rate due to increasing adoption of highly
advanced treatment procedures and use of novel product development like Nellix
and Fortevo are predicted to escalate overall market performance of vascular
grafts in the upcoming years.
Coronary artery bypass graft market segment has also witnessed
significant growth in the recent years owing to wide range of medical
applications and latest developments in regards to the introduction of
intra-operative techniques. Other factors responsible for increasing demand for
coronary artery bypass graft include high prevalence rates of renal failure and
hardening of arteries.
The vascular graft market is divided by region as North America, Europe,
Asia-Pacific, Latin America and Africa. North America has shown major growth in
recent years owing to the rise in the implementation of latest technologies in
the pharmaceutical & medicine sector, rising prevalence rate of diabetes,
cardiovascular disorders & kidney disorders, favorable reimbursement policies,
and existence of well-established healthcare infrastructure.
Asia-Pacific region is predicted to hold major market share in the
vascular graft industry with massive growth in forecast period. Countries such
as India, China and Singapore are leading the Asia-Pacific market with rising
prevalence of cardiovascular disease & diabetes, increasing healthcare
infrastructure activities, recent epidemiological transition, and significant
investment by leading industry players considering potential growth opportunities
in the region.
The key players in the vascular graft market are Medtronic plc, LeMagitre
Vascular Incorporations, Cook Medical Inc., Bard Peripheral Vascular
Incorporations, Terumo Cardiovascular Group Co., W.L. Gore & Associates
Inc., Getinge Group AB, Shanghai Suokang Medical Implants Ltd., and Junken
Medical Limited.
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