Global Vascular Graft Market is segmented By Product (Hemodialysis Access Graft, Endovascular Aneurysm Repair Stent Graft, and Peripheral Vascular Graft), By Raw Material (Polyester, Polytetrafluoroethylene (PTFE), Polyurethane, and Biosynthetic), By End-User (Hospitals and Ambulatory Surgical Centers (ASCs)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Market Overview

The global vascular graft market is growing at a high CAGR of 7.3% during the forecast period (2022-2029).

Avascular graft (or) vascular bypass is a surgical procedure that is used to redirect blood flow from one area to another by reconnecting blood vessels, also known as a channel used to replace the diseased or blocked blood vessels. It can be arteries, veins, or capillaries. Vascular grafts have their application in treating cardiovascular diseases, kidney failure, vascular occlusion, and others.

Market Dynamics

The global vascular graft market growth is driven by the rise of cardiovascular diseases, coronary artery diseases, diabetes, and the requirement of artificial vessel implantations.

Increasing incidence of ESRD will drive the market growth

According to the University of California, approximately 2 million people worldwide suffer from ESRD. Annually, ESRD affects around 650,000 people in the US. Japan, Taiwan, Mexico, the US, and Belgium currently have the highest prevalence of ESRD. The only alternative to kidney transplantation is dialysis, which is frequently used by patients with ESRD. Hemodialysis treatment is done three times per week. Because of prolonged dialysis, the superficial veins of many patients are exhausted, and vascular grafts remain the only option to allow continued hemodialysis. Also, according to the National Institute of Diabetes and Digestive and Kidney Diseases (2016), the overall prevalence of CKD in the US is ~14%. More than 0.6 million Americans have kidney failure. Of these, 0.4 million individuals are on dialysis.

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.

Product failures and recalls will hamper the market growth in the forecast period

Product failures can have severe or even lethal complications in patients. Over the years, several products offered by companies have been recalled from the market due to product malfunctions or other issues. Market developments can hurt the end-user perception of the safety of grafts and, in turn, affect their adoption in treatment procedures. This factor will hamper the growth of the market in the forecast period.

COVID-19 Impact Analysis

The COVID-19 pandemic has negatively impacted the market. It can be witnessed from the decline in the number of elective procedures due to the increasing focus among healthcare professionals to provide treatment to COVID-19 patients. For instance, Medtronic plc’s segment titled cardiac and vascular group registered a 9.0% decline in revenue in FY2020 as compared to FY2019. Continuous strain due to the COVID-19 outbreak has further impacted company operations, supply chains, and distribution systems including their ability to research and develop, and new product launches and services in the market.

Segment Analysis

The endovascular aneurysm repair stent-graft segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The endovascular aneurysm repair stent-graft segment dominated the market and accounted for the largest revenue share. Increasing acceptance of endovascular stent-grafts, especially for the treatment of thoracoabdominal aortic aneurysm, is expected to boost usage of these products thereby, aiding the market growth. In addition, these stent-grafts, in combination with antibiotics, can be used as an alternative for the treatment of the mycotic aneurysm. The rapid development of endovascular approaches, which have reduced the need for conventional open thoracic aorta surgeries, is anticipated to propel the demand for endovascular stent grafts during the forecast period. Reduced hospital stays and less painful and faster recovery as compared to open chest thoracic aneurysm surgeries are advantages associated with endovascular grafts, which is further aiding their adoption.

Geographical Analysis

North America region holds the largest market share of the global Vascular Graft Market

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. The presence of reimbursement coverage and availability of state-of-the-art healthcare infrastructure are driving the growth of this market in North America. Constant technological developments followed by discoveries of specific tissue-engineered products trigger the growth of biomaterials vascular grafts. Key factors attributing to the market growth include better reimbursement policies, advanced technological facilities, successful initiatives, and accurate diagnostic procedures through biometric tools. Furthermore, ongoing research about the development of advanced biomaterial grafts is expected to heighten the demand for these products in the region.

Competitive Landscape

The vascular graft market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Abbott Laboratories, Braun Melsungen AG, Bard Peripheral Vascular Inc. (BD), Cardinal Health (Cordis Corporation), Cook Medical, Cryolife, Getinge Group, LeMaitre Vascular Inc, Medtronic PLC, Terumo Medical Corporation, W.L. Gore & Associates Inc among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the vascular graft market globally. For instance, in October 2017, Medtronic developed Endurant II Stent Graft System to treat AAA The Endurant II Stent Graft System is placed into the abdominal aneurysm to provide an alternative channel for the flow of blood.

Abbott Laboratories

Overview:

Abbott Laboratories is a U.S. health care company. The Company operates through four segments: established pharmaceutical products, diagnostic products, nutritional products, and medical devices.

Product Portfolio: GRAFTMASTER RX: The GRAFTMASTER RX is indicated for use in the treatment of free perforations, defined as free contrast extravasation into the pericardium, in native coronary vessels or saphenous vein bypass grafts ≥ 2.75 mm in diameter. The effectiveness of this device for this use has not been demonstrated. The long-term outcome for this permanent implant is unknown at present.

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