Latest News - Vascular Grafts Market: Endovascular grafts are expected to lead the Product segment during 2024-2028

The Vascular Grafts Market is being driven by Introduction of technologically advanced products

The Vascular Grafts Market is expected to grow at a CAGR of 7.08% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1518.4 million. Cardiovascular diseases (CVDs) are the leading cause of global mortality, frequently resulting from stenosis or occlusion of blood vessels. These conditions necessitate vascular surgery, including peripheral artery bypass grafting and coronary artery bypass grafting. Traditional options for vascular grafts include autologous vessels, such as saphenous veins and internal thoracic arteries, and synthetic alternatives. However, the usage of these grafts is often limited due to their performance and durability concerns. In recent years, the development of Tissue Engineered Vascular Grafts (TEVGs) has revolutionized the field. The first successful implantation of a TEVG demonstrated non-inferior performance and durability compared to autologous vessels, offering a promising solution for vascular procedures. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Endovascular grafts
  • Bypass grafts
  • Hemodialysis grafts
  • Peripheral grafts
• Geography
  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
  • Asia
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Introduction of technologically advanced products
• Increased medical tourism in Asia
• Increase in ASCs

However, the market also witnesses some limitations, which are as follows:

• Risks and complications associated with vascular grafting
• Usage of off-label EVAR device
• Intense pricing pressure

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Market Scope in Vascular Grafts Market Research Report

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Research Analysis Overview

The global vascular grafts market is expected to grow significantly due to the increasing prevalence of chronic diseases such as diabetes, heart attacks, and abdominal aneurysms. The market is driven by the rising healthcare expenditure, government funding, and the growing geriatric population. Minimally invasive procedures like MIDCAB (Minimally Intrusive Coronary Artery Bypass) have gained popularity, leading to an increase in demand for vascular grafts. Aortic cross clamp-free surgeries and constructive graft remodeling techniques are also contributing to market growth. However, challenges such as thrombosis and intimal hyperplasia remain significant obstacles. The COVID-19 pandemic has disrupted the healthcare system, leading to delays in surgical procedures. Raw materials used in vascular grafts include polytetrafluoroethylene (PTFE), expanded polytetrafluoroethylene (ePTFE), and Dacron. Smoking and chronic diseases like hemodialysis and hemodialysis vascular access are major risk factors for the need for vascular grafts. Emerging economies are expected to offer significant growth opportunities due to their large patient populations and increasing healthcare spending. In conclusion, the vascular grafts market is expected to grow significantly due to the increasing prevalence of chronic diseases, rising healthcare expenditure, and the growing geriatric population. However, challenges such as thrombosis and intimal hyperplasia, as well as the impact of COVID-19 on surgical procedures, may affect market growth.

Market Research Overview

Technavio positions the vascular grafts market as a segment of the expansive global healthcare equipment industry. This sector encompasses organizations involved in the research and development (R&D) of diverse product lines, such as capital equipment, instruments, implants, accessories, and consumables. These products are integral to the diagnosis, monitoring, and treatment of numerous health conditions. The size of the global healthcare equipment market is determined by the consolidated revenue generated by manufacturers of diagnostic equipment and devices spanning various therapy areas. The healthcare equipment sector is segmented into Devices, which incorporates advanced, differentiated, and clinically validated data-driven devices. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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