Global vascular graft market is expected to reach USD 3,626 million
by 2022, according to a new study by Grand View Research, Inc. Key factors
attributing to its rapid growth include increasing prevalence of cardiovascular
diseases coupled with the development of technological advanced novel tissue
engineered biomaterial based vascular graft.
Furthermore, rising healthcare expenditure,
favorable reimbursement policies and advanced technological facilities, are
expected to positively reinforce vascular graft market growth over the next
seven years.
Vascular graft market is segmented on the basis
of type of raw material that includes polyester, polytetrafluoroethylene,
polyurethane and biological materials. Biological materials are further
classified as human saphenous & umbilical veins and tissue engineered
materials. Key factors attributing to rapidly growing demand for biomaterial
based graft are higher acceptability of these graft in human body and reduced
risk of post surgery complication associated with tissue engineered and human
saphenous vein based graft.
Rising demand for biomaterial vascular graft and
technological advancements pertaining to novel product development such as
Nellix and Fortevo will boost usage rates over the forecast period.
Key applications analyzed in the report include
cardiovascular diseases, aneurysm, kidney failure, vascular occlusion and
diabetes. Key factors driving the market growth include increasing geriatric population
base which is highly prone to cardiac disorders and unhealthy lifestyle habits
such as alcohol consumption & smoking.
Vascular graft industry is further segmented on
the basis of products that include hemodialysis access graft, endovascular
stent graft, peripheral vascular graft and coronary artery bypass graft. High
volume of EVAR procedures is a high impact rendering driver attributing for the
large share of endovascular stent graft.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/vascular-graft-market
Further key findings from the study
suggest:
- In 2014, North America held majority of market share of nearly 50% owing to the presence of advanced healthcare infrastructure, high level collaboration between the research organizations and major manufacturers of vascular stent graft. Furthermore, increasing adoption of technological advanced products such as to improve patient care followed by new discoveries of specific tissue engineered vascular graft is anticipated to heighten the demand for vascular graft in the coming seven years.
- Asia Pacific is expected to be the fastest growing region growing at a CAGR of nearly 10% during the forecast period. Key factors attributing to its rapid growth include rapid development of healthcare research facilities in the region, favorable government initiatives such as the “Make In India” to encourage big players operating in vascular graft market to establish their manufacturing facilities in the region and rising incidences of target diseases such as cardiovascular and kidney disorders.
- Key players operating in vascular graft market include Medtronic Plc., LeMaitre Vascular Inc., W.L. Gore & Associates, Inc., Cook Medical, Terumo Medical Corporation and Bard Peripheral Vascular Inc.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/medical-devices
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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View Research, Inc.
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