Increasing cases of vascular disorders, hypertension, and high blood sugar are driving the growth of the market. Technological advancements and increase in geriatric population are expected to bolster the market over the forecast period. Cardiovascular diseases are one of the most common causes of heart attack. According to the figures released by American Heart Association in 2018, 720,000 people suffered heart attack and the prevalence of myocardial infarction was approximately 7.8 million. The high prevalence of cardiovascular diseases is also estimated to increase the global vascular graft market size.
The market is bifurcated into by product, by application, by raw material, and by region. In terms of product, endovascular stent grafts are expected to control the vascular graft market growth. The growing prevalence of cardiovascular aneurysms due to unhealthy eating habits and sedentary lifestyle remains the major promoting the growth of endovascular stent-grafts. Technological advancements such as Fortevo and Nellix is expected to positively influence the market.
Peripheral vascular grafts are also expected to show considerable growth owing to improvements and advancements made related to development of intra-operative techniques.
On the basis of application, cardiac aneurysms are expected to control the growth of the market. High prevalence of blood pressure and increasing adoption of novel prosthetic grafts is anticipated to drive the demand of cardiac aneurysms segment thus inflating the vascular graft market share. Adoption of unhealthy lifestyle habits and rising geriatric population is also anticipated to spike the growth of the market.
Based on raw materials, PTFE is expected to show notable growth. PTFE is designed with technically-advanced structure which yields minimal blood loss and delivers utmost protection from delamination. It can also opt for peripheral bypasses. Owing to these factors, there has been a demand for PTFE which is positively influencing the market.
Biological materials are also expected to hold vast segment of the market due to the reduction in demand for polymer grafts and increasing prevalence of cardiovascular diseases.
On the basis of region, North America dictates the growth of the market. Increasing geriatric population and the high prevalence of diabetes is fueling the growth of the market in the region. Increasing the incidence of chronic kidney disease coupled with presence of favorable reimbursement policy in the region is proliferating the vascular graft market size.
Europe is estimated to be a lucrative region owing to the growing number of projects funded by the European Union on biomaterials research. The rise in cardiovascular disease cases is also propelling the market in the region. According to figures released by British Heart Foundation, approximately 2.3 million people in UK suffered from coronary heart disease. The increasing prevalence of cardiovascular diseases is expected to drive the growth of the market in the region.
Key Market Players are
Cardinal Health Inc, LeMaitre Vascular, Inc., Medtronic plc, W.L Gore
Associates, Inc., Jotec GmbH, Nano Endoluminal, Lombard Medical,Inc., Cardiatis S.A, B.Braun Melsungen AG, and Endologix Inc, Cook Medical.