A research study titled, “Vascular Graft Market by Product, Application, and Raw Material – Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the vascular graft market is projected to be around $4.2 billion by 2025.
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Vascular grafts are prosthetic implants that are used to replace, repair or bypass sections of blood vessels. As the need for coronary vascularization is increasing worldwide, different strategies have been investigated for blood restoration to the heart. Vascular grafts are being evaluated for the bypass surgery of the atherosclerotic coronary arteries. Cardiovascular diseases (CVDs) such as atherosclerosis can be treated by implantation of vascular grafts with the help of coronary artery bypass surgery. CVD is a class of diseases which affects heart or blood vessels. CVDs include stroke, heart failure, congenital heart disease, angina, arrhythmia and myocardial infarction.
The risk factors for CVDs are high blood pressure, obesity, unhealthy diet, physical inactivity, tobacco consumption, drinking excess alcohol, smoking, aging, high blood cholesterol, stress, and depression. CVDs are characterized by chest pain, tiredness, increasing heartbeat, excessive sweating and difficulty in breathing. According to study conducted by American Heart Association in 2017, around 92.1 million American adults have some or the other type of CVD. The study further states that the estimated number of annual new heart attacks in U.S. is 580,000 with 210,000 incidences of recurrent attacks. Such high prevalence of CVDs will drive the global market during forecast period.
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U.S. occupied the largest share of the North America vascular graft market in 2016, due to factors such as increase in the healthcare expenditure, advancement in healthcare facilities and high prevalence of cardiovascular disorders. Furthermore, increasing adoption of technological advanced products will drive the U.S. market during forecast period. Emerging markets such as China and India are poised to witness favorable growth during the forecast period due to factors such as rise in geriatric population and continuous improvement in healthcare infrastructure. Furthermore, government initiatives in India such as “Make in India” encourages many players to set up manufacturing plants in the country, which is set to stimulate the market growth during forecast period.
Major Market Players:
Some of the key players in vascular graft market are W.L. Gore & Associates, Inc., Terumo Medical Corporation, B. Braun Melsungen AG, Vascutek Ltd, Medtronic Plc., ARTEGRAFT, LeMaitre Vascular Inc., Heart Medical Europe BV, Bard Peripheral Vascular Inc. and Cook Medical Group.
Vascular Graft Market Segmentation:
By Product: Hemodialysis Access Graft, Peripheral Vascular Graft, Endovascular Stent Graft, Coronary Artery By-pass Graft
By Application: Cardiovascular Diseases, Coronary Artery Disease, Hypertension, Cardiac Stroke, Cardiac Aneurysm, Kidney Failure, Vascular Occlusion, Aneurysm
By Raw Material: Polytetrafluoroethylene based Vascular Graft, Polyester based Vascular Graft, Polyurethane based Vascular Graft, Biological Materials based Vascular Graft, Human Saphenous and Umbilical Veins, Tissue Engineered Materials
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