Selbyville, Delaware, July 12, 2021 (GLOBE NEWSWIRE) --
According to latest report “Vascular Graft Market by Raw Material (Polyester Grafts, EPTFE Grafts, Polyurethane Grafts, Biosynthetic Grafts), Application (Endovascular Aneurysm Repair, Peripheral Vascular Repair, Hemodialysis Access), End-use (Hospitals, Ambulatory Surgical Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of vascular graft will cross $3.3 billion by 2027.
Significant increase in number of conventional graft failures has given rise to technological advancements. For instance, Medtronic received CE Mark for its Endurant II/IIs stent graft system to treat abdominal aortic aneurysm (AAA). It is an efficient and safe endovascular abdominal aortic aneurysm (AAA) system developed for patients with complex aneurysms and short aortic neck length. Also, companies are developing vascular grafts that mimic human vessels that are hemocampatible, biocompatible and thrombus resistant.
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Hameodialysis access segment in the vascular graft market is expected to reach USD 1.1 billion by 2027 on account of the increasing cases of end-stage renal disease (ESRD) coupled with growing burden of chronic kidney disease (CKD). According to National Kidney Foundation (NKF) statistics, about 10% of the populace worldwide is affected by CKD annually. Therefore, patients suffering from CKD mostly tend to prefer dialysis procedure attributed to lack of kidney donors and complications associated with kidney transplant surgery, thereby augmenting the segment growth.
Biosynthetic grafts market will witness stable growth rate of 3.4% through 2027 led by its close resemblance to human blood vessels. Biosynthetic grafts are hemocompatible, biocompatible and thrombus resistant vascular grafts. Biosynthetic vascular grafts are preferred for treatment of infection due to dacron vascular grafts owing to its associated advantages.
Hospital end-use segment dominated the market in 2020 impelled by the increasing number of healthcare policies and favorable reimbursement scenarios, as it will lead to growing number of admissions in the hospitals. In addition, advanced surgical procedures offered in hospitals along with growing burden of cardiovascular and renal disorders will propel the segment expansion. Furthermore, growing patient pool coupled with introduction of innovative surgical procedures will render positive impact on the market value.
Asia Pacific vascular graft market size was over USD 555.8 million in 2020. Increasing prevalence of chronic kidney disease in APAC region such as India, China and Japan among others will drive the regional growth. For instance, according to Asia Pacific Society of Nephrology report, about 17% of Indians suffer from chronic kidney disease. Also, the report stated that, nearly 40% of diabetes patients develop symptoms of end-stage renal disorders in India. Thus, growing prevalence of diabetes coupled with high number of chronic kidney diseases will lead to increasing incidence of end-stage renal disorders, thereby compelling the need for hemodialysis. Additionally, rising pervasiveness of thoracic & abdominal aortic aneurysms and peripheral aortic disease among growing geriatric population will favor the market demand.
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Few notable companies operating in the vascular graft market include Becton Dickinson (C.R. Bard), B. Braun Melsungen, Cryolife (Jotec), Cook Medical, Endologix, and LeMaitre Vascular among others. The players are focusing on various strategies such as mergers, acquisitions, new service launch among others.
Table of Contents (ToC) of the report:
Chapter 3 Vascular Graft Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By raw material
3.4.2 By application
3.4.3 By end-use
3.5 COVID-19 impact analysis
3.6 Technology landscape
3.7 Regulatory scenario
3.8 Porter's analysis
3.9 Competitive landscape, 2020
3.9.1 Company matrix analysis
3.10 PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/vascular-graft-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.