Vascular Graft Market size is set to exceed USD 3.6 billion by 2024; according to a new research report by Global Market Insights. Shifting trends toward the use of prosthetic implants to repair or bypass blood vessels have influenced vascular graft market since the last several years. While vascular surgery has commanded significance ever since its inception, its importance has now grown tremendously among healthcare service providers, given that it is used for treating patients suffering from traumatic brachial artery aneurysm, artery damage, and endovascular aneurysm. Polymeric vascular prosthesis has been developed long ago and has been preferred for various prosthetic implants, however, biocompatible vascular grafts are now gaining traction, on the grounds of which companies have been conducting on-going research studies to develop infection free, durable, and easy to handle vascular grafts.
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It is indeed imperative to state that surging number of cases related to cardiovascular diseases owing to a rise in sedentary lifestyles that has led to an increase in the obese population across the globe, has been propelling vascular graft market share. Indeed, in the U.S. alone, pertaining to an unhealthy lifestyle, the number of patients suffering from chronic kidney related and cardiovascular diseases has increased by an incredible proportion over the last few years. In order to encourage patients who need to undergo a bypass surgery, the government has included suitable Mediclaim reimbursement policies that will have a positive impact on the U.S. vascular graft industry trends over the years ahead.
Vascular grafts are known to save patients with a high risk of heart attack and other artery damages. The advent of advanced bypass surgeries has made it easier for vascular graft industry to amass commendable returns. It is rather prudent to mention that regulatory bodies and research institutes have also played a significant role in the growth of this vertical. Recently, in 2018, the FDA provided the green signal for a device developed to treat endovascular aortic aneurysm that demands a minimally invasive surgical procedure. Driven by the fact that endovascular aneurysm repair offers a cost-effective treatment to patients afflicted with abdominal aortic aneurysm as compared to open repair, endovascular aneurysm repair accounted for USD 996.5 million in vascular graft industry share.
As of now, with the rapid invention in the vascular grafts, leading players in the vascular graft market have been extending their product reach, aided by regulatory bodies. The worldwide acceptance for their innovative products will have a remarkable influence on the industry growth over the years ahead. The recent approval for GORE®’s Molding & Occlusion Balloon, that can be used for endovascular aortic repair, from Japan, U.S., and Europe, validates the aforementioned fact. With this approval, GORE® has successfully expanded its reach across three leading regions of the vascular graft market. The capability of these devices to reduce possible complications related to the ease of access, as well as excellent ability in assisting self-expanding stent grafts are poised to stimulate vascular graft industry size.
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