London, Nov. 04, 2022 (GLOBE NEWSWIRE) -- Predominantly driven by the consistently soaring rate of prevalence of cardiovascular conditions, demand for artificial synthetic blood vessels will continue to be on an uptrend in long term. A newly released report of Fairfield Market Research suggests that the global artificial synthetic blood vessels market will jump up from US$296.8 Mn attained in 2021 to nearly US$319.4 Mn toward the end of 2026. The report forecasts a healthy growth outlook for the market between 2021 and 2026 in line with a notable number of vascular reconstruction surgeries that are performed every year, worldwide. The need for novel, technologically sophisticated solutions is expected to aggravate with the rising number of peripheral vascular cases, as well as that of the various life-threatening cardiological conditions. The unmet treatment need is projected to drive the growth of synthetic artificial blood vessels market to a large extent.
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Key Research Insights
- Global synthetic artificial blood vessels market is all set for a promising 5.7% CAGR from 2021 through 2026
- Expanded polytetrafluoroethylene (ePTFE) vascular currently contributes around 48% market share and will continue to find wide application in the peripheral circulatory system
- North America’s primacy prevails with over 30% market value share
Insights into Segmental Analysis
On the back of the shortfalls of natural biomaterials in terms of expensive pricing, supply shortage, variation possibilities, and cross contamination risks, the report projects that synthetic biopolymers will continue their lead in the market. The study reveals that the synthetic biopolymers will continue to represent the most sought-after category throughout the period of assessment. Synthetic biopolymers have been the preferred material on account of their structural attributes, tunable properties, and unlimited form possibilities. As these materials enable restoration of structures and functions of a damaged tissue, they will continue to garner preference over their natural polymer counterparts. Significant research around both biodegradable and non-biodegradable synthetic polymers over the recent past, which is likely to favour the market growth in long term, says the report. However, although synthetic biopolymers surge ahead, a lot of research is afoot around the cell adhesive capabilities, biocompatibility, and self-restore mechanical properties. In terms of application, aortic disease is likely to demonstrate a higher CAGR compared to that by the other two segments, i.e., haemodialysis, and peripheral artery disease. However, haemodialysis remains dominant with a whopping 49% market share estimated for 2026. As indicated by the end user analysis, hospitals retain dominance with around 56% market share, whereas the specialty clinics, and ambulatory surgical centres (ASCs) will also register significant growth in adoption of synthetic artificial blood vessels.
Key Report Highlights
- A lot of R&D effort going into the development of superior synthetic artificial blood vessels eyes improved patient outcome as research unlocks doors to potential applicability in complex areas like high-risk surgeries, and wound healing
- Increasing positive perception about synthetic artificial blood vessels to be adopted for haemodialysis patients, and those with renal conditions will open multiple opportunistic avenues
- Bio artificial blood vessels that are increasingly being touted as the future of human body implants hold a massive business opportunity for synthetic artificial blood vessels market players
Insights into Regional Analysis
North America, projected to reach the revenue worth US$120.9 Mn by the end of 2026, will most likely remain dominant in global synthetic artificial blood vessels market. A strong base of R&D around biomaterials is expected to remain the key driving force behind this primacy in addition to an established diagnostics sector, and the supportive reimbursement policy structure. Excellent research prospects emerging in the field of advanced biomaterial grafts are further likely to provide the necessary tailwinds to North America’s synthetic artificial blood vessels market. On the other side, the report also highlights that the manufacturers that are operating in European markets will discover new opportunities in the wake of soaring prevalence of cardiovascular disorders, renal disorder cases, and an expanding ageing population.
Global Leaders in Synthetic Artificial Blood Vessels Market
Terumo Aortic (Terumo Group), B. Braun Melsungen AG, LeMaitre Vascular, Inc., Humacyte, Inc., JOTEC GmbH, Cook Medical Inc., Bard Peripheral Vascular, W. L. Gore and Associates
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2020 | |
| Forecast Year | 2021 – 2026 | |
| Market Size in 2021 | US$296.8 Mn | |
| Estimated Market Size in 2026 | US$319.4 Mn | |
| CAGR | 5.7% | |
| Key Players | Accell Group, Dorel Industries Inc., Hero Cycles Ltd, Giant Bicycles, Cervelo, Merida Industry Co., Olympus Bikes, Scott Sports SA, Kona Bicycle Company, Specialized Bicycle Components, Inc., Trek Bicycle Corporation. | |
Market Segmentation
- Polymer
- Expanded polytetrafluoroethylene (ePTFE)
- Polyethylene Terephthalate
- Polyurethane
- Others
Application
- Aortic Disease
- Hemodialysis
- Peripheral Artery Disease
End user
- Hospitals
- Cardiac Catheterization Laboratories
- Ambulatory Surgical Centers
- Specialty Clinics
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
Leading Companies
- B. Braun Melsungen AG
- Terumo Aortic (Terumo Group)
- Humacyte, Inc.
- LeMaitre Vascular, Inc.
- W. L. Gore and Associates
- JOTEC GmbH
- Cook Medical Inc.
- Bard Peripheral Vascular
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Polymer-wise Analysis
- Application-wise Analysis
- End User-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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