Rockville , July 17, 2023 (GLOBE NEWSWIRE) -- This latest market research report by Fact.MR, a market research and competitive intelligence provider, projects the worldwide vascular grafts market to increase at a healthy CAGR of 6.5% and reach US$ 7.04 billion by the end of 2033.
Rapidly rising geriatric population and growing incidence of cardiovascular diseases around the world are primary factors that are anticipated to influentially bolster sales of vascular grafts over the next ten years. Advancements in healthcare technology are resulting in the creation of next-generation tissue-engineered vascular grafts, which are projected to exhibit a robust hike in popularity and demand in the future.
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At present, demand for vascular grafts is highest in the United States owing to the high number of cardiovascular surgeries being performed in the country. Presence of developed healthcare infrastructure and the high availability of minimally invasive surgical procedures also influentially contribute to high vascular graft demand in the United States.
Key Takeaways from Market Study
- The global vascular grafts market stands at a valuation of US$ 3.73 billion in 2023.
- Worldwide demand for vascular grafts is projected to rise at a CAGR of 3.3% from 2023 to 2033.
- The global market is anticipated to attain a revenue of US$ 7.04 billion by 2033.
- Rising geriatric population, growing popularity of minimally invasive surgeries, increasing healthcare expenditure, and high incidence of chronic kidney disorders are primary market drivers.
- Lack of availability of skilled medical professionals in developing countries and growing awareness regarding vascular graft-related infections are major challenges for vascular graft companies going forward.
- Demand for vascular grafts in Asia Pacific is projected to increase rapidly and could make it the leading regional market by 2033-end.
- Endovascular aneurysm repair (EVAR) treatments currently account for more than 50% of the global market share.
“Rapidly rising senescent population is anticipated to be the constant market driver for the vascular graft industry well beyond the forecast period,” says a Fact.MR analyst
Key Companies Profiled in This Report
- Endologix Inc.
- OrbusNeich
- Cook Medical
- Cryolife
- Getinge Group
- LeMaitre Vascular Inc.
- Medtronic PLC
- Terumo Medical Corporation
- W.L. Gore & Associates Inc.
- Vascular Graft Solution Ltd.
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Winning Strategy
Leading vascular graft manufacturers are expected to invest in the research and development of next-generation products to stand out from the competition and make a mark in the global landscape. Companies are also focusing on obtaining new approvals from regulatory authorities to hasten the commercialization of new products and boost revenue generation over the coming years.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global vascular grafts market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on treatment (endovascular aneurysm repair (EVAR), peripheral vascular repair, hemodialysis access), raw material (polyester, ePTFE, polyurethane, biosynthetic) and end user (hospitals, ambulatory surgical centers), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Explore More Related Studies Published by Fact.MR Research:
Peripheral Vascular Devices Market: Expanding at a CAGR of 4.5%, the global peripheral vascular devices market is projected to increase from a valuation of US$ 10.84 billion in 2023 to US$ 16.83 billion by the end of 2033.
Endovascular Stent market: North America is expected to witness the highest growth over the forecast period of 2030.
Surgical Equipment Market: Sales of surgical equipment are extrapolated to reach US$ 38.1 billion by 2033-end.
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