Market Research Report
Vascular Graft Market Size By Raw Material, By Application, By End-use, COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027
|Vascular Graft Market Size By Raw Material, By Application, By End-use, COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027|
Published: July 6, 2021
Global Market Insights Inc.
Content info: 150 Pages
Delivery time: 2-3 business days
The vascular graft market is expected to witness substantial growth by 2027 due to the surging prevalence of cardiovascular diseases across the globe. Additionally, rising emphasis on product innovation is anticipated to drive market growth through the forecast period.
A vascular graft is used during a surgical procedure to redirect blood flow from a certain area in the body to another area by reconnecting blood vessels. Vascular grafting is typically performed to bypass a partial or complete blockage in an artery to increase blood flow to the organ that receives blood from the diseased artery.
Notably, recent studies have found that the COVID-19 infection can infect vascular tissues, the heart, and cells circulating through ACE2 (angiotensin-converting enzyme 2), potentially causing chronic damage to the cardiovascular system. Thus, cardiovascular damage caused by the novel coronavirus in patients has bolstered the demand for cardiovascular surgery, which is projected to support market adoption through the assessment timeframe.
Moreover, increasing research efforts to develop and deploy novel technologies, which has favorably influenced product landscape across the globe. For instance, in July 2021, Vascudyne, an engineered tissue specialist, announced that it had successfully carried out the first-in-human application of its TRUE Vascular Graft in patients who had end-stage renal disease and required hemodialysis access.
TRUE tissue is completely biological and has been developed using cells extracted from donor tissue. It can be shaped into sheets, tubes, and other geometries, which makes it suitable for various soft tissue applications. The off-the-shelf allograft also has a structure akin to native tissues.
In another instance, a December 2020 study published in Scientific Reports focused on the development of a novel tissue-engineered vascular graft with a silk-based scaffold material. The silk fibroin vascular graft has demonstrated promising use in abdominal venous system replacement.
For extensive analysis, the vascular graft market has been bifurcated based on application, raw material, end-use, and region. In terms of application, the market has further been segregated into endovascular aneurysm repair, hemodialysis access, and peripheral vascular repair. In 2020, the endovascular aneurysm repair sub-segment was valued at USD 938.8 million and is estimated to observe notable expansion over 2021-2027.
With respect to raw material, the market has been divided into polyester grafts, biosynthetic grafts, EPTFE grafts, and polyurethane grafts. The polyurethane grafts segment is anticipated to showcase lucrative growth by 2027, progressing at over 3.0% CAGR through the analysis timeframe.
From the end-use perspective, the market has been categorized into ambulatory surgical centers, hospitals, and others. In 2020, the ambulatory surgical centers sub-segment accounted for around 25.5% of the overall market revenue and is slated to garner a sizable revenue by the end of 2027.
In the regional landscape, Latin America accounted for over 9.1% of the vascular graft market in 2020 and is estimated to see considerable growth over 2021-2027. The Middle East & Africa vascular graft market is anticipated to exhibit steady growth by 2027, progressing at a CAGR of about 5.8% over the forecast timeline.