A vascular graft is a surgical procedure that redirects blood flow from one area of the body to another by reconnecting the blood vessels. Key factors contributing to the market growth are rising prevalence of cardiac diseases, increasing prevalence of diabetes and end-stage renal diseases, coronary artery disease (CAD), hypertension, and cardiac aneurysms. Apart from the mentioned factors, genetic and hereditary factors, unhealthy lifestyle, alcohol consumption, and tobacco smoking, among others are expected to increase the demand for vascular grafts over the period. A low reimbursement rate and rising out-of-pocket expenses in an emerging economies can restrain market growth.
Key Market Trends
Application in Kidney Failure is Expected to Register Robust Growth
The global prevalence of end-stage renal diseases (ESRD) is high and increasing at a significant rate. In 2017, 697.5 million cases of all-stage CKD were recorded, for a global prevalence of 9.1%, as per Global Burden of Disease Study 2017. It is found that chronic kidney diseases (CKD) may develop over many years leading to ESRD and lead to kidney failure. As per a 2018 report by the L. Y. Wong et al., published in International Journal of Nephrology, from 2007 to 2017 increased from approximately 12% to 17% and is further expected to increase to approximately 24% by 2035.
Kidney Failure is treated by replacing kidney through a kidney transplant. This process uses vascular grafts. The renal vessel is reconstructed in kidney transplantation using vascular grafts. Hence, increasing incidence of end-stage kidney failure is expected to increase the demand for vascular grafts as well, which will help the growth of the market.
North America is Expected to Retain Largest Market Share During the Forecast Period
North America dominates the vascular graft market. North America maintained its dominant share due to the high prevalence rate of diabetes, cardiovascular diseases, and chronic kidney disease. Presence of reimbursement coverage and availability of state-of-the-art healthcare infrastructure are driving the growth of this market in North America.
Asia-Pacific is anticipated to show the fastest growth during the forecast period due to increasing incidences of cardiovascular disease and diabetes and improving healthcare infrastructure.
Key players in the market include Abbott Laboratories, B. Braun Melsungen AG, Bard Peripheral Vascular Inc. (BD), Cardinal Health (Cordis), Cook Medical, Cryolife, Getinge Group, LeMaitre Vascular Inc, Medtronic plc, Terumo Medical Corporation, and W.L. Gore & Associates Inc., among others.
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