The Global Vascular Graft Market is growing at a CAGR of 7.3% during the forecast period (2021-2028).
CLEVE LAND, OHIO, UNITED STATE, October 13, 2021 /EINPresswire.com/ —
The global vascular graft market is growing at a CAGR of 7.3% during the forecast period (2021-2028).
Avascular graft (or) vascular bypass is a surgical procedure which is used to redirect blood flow from one area to another by reconnecting blood vessel, also known as a channel used to replace the diseased or blocked blood vessels. It can be arteries, veins or capillaries. Vascular grafts have their application in treating cardiovascular diseases, kidney failure, vascular occlusion, and others.
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Major factors which contribute to the growth of global vascular graft market is the rise of cardiovascular diseases, coronary artery diseases, diabetes etc. and by the requirement of artificial vessel implantations.
In the U.S approximately 84 millions of people are affected by some form of cardiovascular disease and 15million of them facing coronary artery diseases, wherein the intervention of vascular grafting is the best possible way to treat the patients.
In U.S. more than 500,000 coronary artery bypass grafts are performed annually.
Total cost expenditure is estimated to be more than $316 billion for an affected person with health expenditure and productivity loss of young adults. The usage of vascular grafts can also create infections.
• Hemodialysis Access Graft
• Endovascular Aneurysm Repair Stent Graft
• Peripheral Vascular Graft
By Raw Material
• Polytetrafluoroethylene (PTFE)
• Ambulatory Surgical Centers (ASCs)
North America maintained its dominance in terms of market share for the year 2018, owing to a high prevalence rate of diabetes, cardiovascular diseases, and chronic kidney disease. For instance, in November 2017 according to Centers for disease control and prevention, every year about 735,000 Americans have an of these, 525,000 are a first heart attack and 210,000 happen in people who have already had a heart attack.
Over the forecast period, Europe is projected to be the most significant market share by region. In 2017, according to the European Heat Network Organization yearly Cardiovascular Disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU).
In 2017, according to John Hopkins Medicine statistics, the U.S. spends about USD 315 billion annually for cardiovascular disease management.
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Prominent players of this market are Medtronic, LeMagitre Vascular Inc., Bard Peripheral Vascular Inc., Cook Medicals, W.L. Gore & Associates, Shanghai Suokang Medical Implants Co., Ltd, Juken medicals co. Ltd, Vascular Graft Solutions Ltd, C.R.Brad, B.Braun.Product launches, partnerships and expansions are expected some of the strategies adopted by players to increase their market share. For instance, in 2017, C.R.Bard introduced a carbon-impregnated (IMPRA carboflo) vascular grafts to treat peripheral vascular disease and hemodialysis access.
In April 2018 Vascular Graft Solutions Ltd (VGS) announces on enrollment of the first 20 patients into the VEST US pivotal trial that will evaluate the safety and effectiveness of the VEST, a novel external support device for treatment of saphenous vein graft disease after coronary artery bypass grafting (CABG).