Global Vacular Patches Market - 2023-2030

Market Overview

Global Vascular System Market reached US$ 0.7 billion in 2022 and is expected to reach US$ 1.2 billion by 2030 growing with a CAGR of 7.6% during the forecast period 2023-2030. Factors such as the prevalence of diseases like aneurysms, arterial stenosis, and unwanted blood clots drives the market size in the forecast period. Due to the rise in the number of the aging population, the market is increasing in the North American region with significant competitors like Terumo Corporation, C R Bard Inc, B Braun Melsungen AG, and others.

Vascular patches are used for peripheral vascular reconstruction, surface line buttressing, and other repairs. The patches are also used for femoral, renal, and iliac endarterectomy procedures. vascular patches are made up of polyester urethane. The elastic material used in patches helps to reduce suture hole bleeding.

Market Dynamics

Rising Chronic Venous Insufficiency Will Drive the Market Growth

The major factor that is driving the vascular patches market is the increase in the number of chronic venous insufficiency cases. A number of people are suffering from chronic venous insufficiency, which is leading to vascular surgeries, and that is driving the growth of the market. Rising chronic venous insufficiency will drive market growth, for instance, an article published in Stats Pearls stated that Chronic venous insufficiency (CVI) typically refers to lower extremity edema, skin trophic changes, and discomfort secondary to venous hypertension. Chronic venous insufficiency is a prevalent disease.

Disability related to chronic venous insufficiency attributes to diminished quality of life and loss of work productivity. In most cases, the cause is incompetent valves. Each year approximately 150,000 new patients are diagnosed with chronic venous insufficiency, and nearly $500 million is used in the care of these patients. Thus the rise of diseases will drive the market growth.

Key Strategies by the Key Players will Drive the Market Growth

The rise of key strategies by the key players will dominate the market growth. For instance, on May 19, 2022, in a series of investments, Ireland-based vessel closure device firm Vivasure raised about $25 million to advance clinical development and regulatory approval for its absorbable, patch-based, percutaneous vessel-sealing technology. Utilized during endovascular and cardiovascular procedures, the "PerQseal" technology uses a synthetic implant to seal a vein or artery from the inside.

While other existing solutions leave behind materials such as collagen, sutures, or metal implants, Vivasure's synthetic implants were designed to return an artery or vein to its normal state without leaving any remnants behind. Thus the strategies of the key players help to drive the market growth.

Expensive Cost of Vascular Procedures will Hamper the Market Growth

Due to the expensive cost of vascular procedures, patients could not afford them even if required. For instance, the average cost of vascular surgery in India ranges from US$600-US$800, and the cost per unit patch ranges from $5 (dollars, US) for untreated autologous pericardium to $6,105 for homograft branch patch. Thus high cost of vascular procedures can hamper the market growth.

COVID-19 Impact Analysis

The COVID-19 pandemic epidemic has had a significant influence on the vascular patches market, posing unprecedented challenges to many countries. Due to COVID-19, there is a rapid decrease in surgical procedures, and the surgeries have been postponed. Due to the reduction insurgeries, the usage of vascular patches has been reduced. Thus, it has negatively impacted the vascular patch market.

Russia-Ukraine War Impact Analysis

The Russia-Ukraine conflict is estimated to have a moderate impact on the global vascular patches market, owing to the low number of key market players in this region. However, the impact of the import and export of raw materials is expected to have little influence over the global vascular patches market growth over the forecast period.

Segment Analysis

The global vascular patches market is segmented based on material type, application, and end user.

The Carotid Endarterectomy Segment Holds the Dominant Position in the Market Over Forecast Period with 56.4% share.

Carotid Endarterectomyholds the most significant market share.Carotid endarterectomy is a surgical procedure to remove a build-up of fatty deposits (plaque), which cause the narrowing of a carotid artery. The carotid arteries are the main blood vessels that supply blood to the neck, face, and brain.

Carotid endarterectomy (CEA) is among the most frequently performed vascular operations in the United States. For instance, according to the Journal of Vascular Surgeries, more than 100,000 such operations are performed annually at a cost of $1.2 billion. Thus increase in the number of carotid endarterectomy surgeries is holding the carotid endarterectomy in the top position.

Geographical Analysis

Asia Pacific Accounted for 23.7% of the Market Share Owing to the Prevalence of Diseases

Due to the increasing penetration of commercial providers in this region and the expanding launch of plans by central and state governments. Furthermore, the rising frequency of chronic diseases and densely populated nations such as China and India would drive market expansion in the vascular patches market.

Cardiovascular diseases (CVDs), the world's leading cause of death, claim as many as 17.9 million lives each year globally. According to a study by the Indian Council of Medical Research and Registrar General of India, India accounts for approximately 60 percent of the world's heart disease burden.

Competitive Landscape

The major global players in the global vascular patches market include: Becton, Dickinson and Company; Terumo Corporation; C R Bard, Inc; B Braun MelsungenAG; LeMaitre Vascular, Inc; Admedus; CryoLife, Inc; LabcorLaboratorios Ltd; Baxter International IncScience among others.

Why Purchase the Report?

• To visualize the global vascular patches market segmentation based on material type, application, end-user, and region,as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of global vascular patches market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global vascular patches market report would provide approximately 53 tables, 54 figures and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies