Global Vascular Patch Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
Global Vascular Patch Market: Overview
“The global Vascular Patch Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Vascular Patch is manufactured from a polymer material such as polyestherurethane, which has maximum mechanical long-term stability and excellent biocompatibility.
The vascular patch is used in a wide range of cardiovascular applications including great vessel, cardiac, and peripheral vascular reconstructions.
Global Vascular Patch Market: Dynamics
The key factor driving the growth of the target market is the increasing aging population across the globe. According to data published by World Population Prospects, the aging persons (above 60 years or over), are expected to reach about 2.1 billion by 2050.
In addition, growing incidences of cardiovascular diseases, an increasing number of surgeries, and growing demand for effective and minimally invasive treatment procedures are some factors expected to drive the income growth of the target market.
Furthermore, the government is spending high on healthcare in order to develop technologically advanced products and increasing adoption of biological patches are another factor likely to increase demand for vascular patch worldwide.
However, product recalls and high costs are the factors restraining the growth of the target market to a certain extent.
Global Vascular Patch Market: Segment Analysis
On the basis of material, the biologic vascular patches segment is projected to account for a large share, owing to the advantages of biological patches such as least suture line bleeding and high biocompatibility compared to synthetic patches.
Global Vascular Patch Market: Trends
A key trend observed in the market currently is, that many prominent players are focusing on getting FDA or EU approval for various other applications. For instance, in April 2018, Cardiva Medical, Inc., which is a US-based medical device company, received FDA approval for VASCADE VCS for use in arterial closure and femoral venous closures.
Global Vascular Patch Market: Regional Analysis
In 2017, the market in North America accounted for the highest market share of the vascular patch market. The rapidly growing prevalence of vascular disses and the increasing geriatric population are the factors driving the growth of the market in countries in the region. Asia Pacific accounted for the fastest-growing CAGR, due to government initiatives and higher health care spending of patients in the region.
Global Vascular Patch Market Segmentation:
Segmentation by material
- Biologic Vascular Patches
- Synthetic Vascular Patches
Segmentation by application
- Carotid Endarterectomy
- Open Repair of Abdominal Aortic Aneurysms
- Vascular Bypass Surgery
- Other Applications
Segmentation by end-user
- Hospitals & Clinics
- Ambulatory Surgical Centers
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Terumo Corporation
- R. Bard, Inc.
- Braun Melsungen AG
- LeMaitre Vascular, Inc.
- L. Gore & Associates, Inc.
- CryoLife, Inc.
- Labcor Laboratórios Ltda
- Baxter International Inc.
- Edwards Lifesciences Corporation
- Cardiva Medical, Inc.
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