Pune, India, June 30, 2021 (GLOBE NEWSWIRE) --
The global vascular grafts market size is expected to show tremendous growth during the forecast period owing to the alarming rise in end stage renal disease prevalence, coupled with the augmenting healthcare spending toward dialysis.
As per the 2021 ‘Chronic Kidney Disease in the United States’ report published by the CDC, more than one out of every seven adult Americans, accounting to over 15% of the adult population, is estimated to suffer from chronic kidney disease. The report also states that, of these 37 million individuals, nearly nine out of ten CKD patients are not aware that they suffer from this condition. Vascular grafts are required in hemodialysis access.
Some major trends fostering the vascular grafts market are mentioned below:
- Risks of complications linked to open repair procedures
Owing to the risks of complications linked with open repair procedures, a growing number of surgeons are inclined toward the use of endovascular aortic repair. Due to this trend, the endovascular aneurysm repair segment held nearly $295.9 million of the vascular grafts market in North America during 2020. Patients who suffer from abdominal aortic aneurysm are opting for these procedures due to its cost benefits.
While lower costs when compared with open repair is one of the major drivers, the minimal risk of post-operative complications is also pushing demand across the market in North America. The adoption of endovascular aortic repair has been associated with reduced mortality rate amongst patients.
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- Increase in Canadian cardiac patients
Canada vascular grafts market outlook is a thriving scenario, growing at over 5.7% CAGR through the analysis timeline. High blood pressure, high LDL cholesterol, and smoking are the topmost causes of cardiac disease. Since over 45% of Canadians are exposed to at least one of these three risk factors, the incidence of CKD is rising fast across the region. North America market share is expected to rise on account of the growing regional burden of cardiovascular disorders and diabetes.
- Prevalence of peripheral arterial disease in Europe
By application, the market is categorized into hemodialysis access, endovascular aneurysm repair, and peripheral vascular repair. The peripheral vascular repair segment was valued at $131.7 million during 2020 and is anticipated to see a rising curve in terms of demand through the next six years. Since peripheral artery disease can cause critical limb ischemia and accompanying complications, the need for peripheral vascular repair procedures is likely to augment over 2027.
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- Rising end stage renal cases in Germany
Since a significant portion of the regional populace is diagnosed with end stage renal disease, German vascular grafts market size is poised for considerable growth. The market is projected to expand at a 4.7% CAGR through 2027, prompted by the growing need for hemodialysis amongst renal disease patients. The increased burden of chronic kidney disease (CKD) across the nation is pushing the deployment of tissue-engineered vascular grafts and synthetic grafts.
Convenient reimbursement availability is also likely to pave the way for Europe market forecast. For instance, the European Kidney Health Alliance (EKHA) states that hemodialysis reimbursements vary between €40,000 and €80,000 per individual annually across Europe.
- Recent advancements in polyester grafts in Europe
The polyester grafts market share is slated to grow at a 6.1% CAGR through the assessment timeframe, supported by the recent advancements in the technology. For instance, when polyester grafts are combined with collagen, the resultant biosynthetic grafts offer higher tensile strength, reducing the risk of graft rejection. As these grafts entail benefits such as blood compatibility and longer lifespan, Europe market outlook might make considerable headway on account of increasing use of tissue-engineered vascular grafts and synthetic vascular grafts for dialysis.
- Shifting preference toward ASCs in Asia
In terms of end-use, APAC vascular grafts market share is divided into ambulatory surgical centers (ASCs), hospitals, and others. By 2027, the industry share from the ambulatory surgical centers segment is estimated to be over $249.6 million. This is because the gradual shift in preference from hospitals to ambulatory surgical centers. As COVID-19 has significantly affected the mobility of Asian patients, they are increasingly seeking treatments from mobile medical units.
While a large percentage of Asians prefer hospital treatments due to the assured quality of care, better infrastructure, and availability of experienced healthcare practitioners, these features are now also available across ambulatory surgical centers as well. In addition to these benefits, one of the major reasons for this paradigm shift is the lower cost of care associated with ASCs.
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- Rising burden of CVDs across China
China market size is expected to grow at a 7.2% CAGR through the analysis timeline, accelerated by the development of a robust healthcare infrastructure in the region. With the incidence of cardiovascular diseases (CVDs) spiraling at an alarming pace, the frequency of premature deaths has been rising across China. This is adding to the demand for minimally invasive grafting procedures over the past few years.
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