Vascular grafts are medical devices that are generally utilized in vascular bypass surgeries, which essentially focuses on the redirection of blood flow from a diseased artery to an area where the flow will be unobstructed. This can be achieved with the help of connecting blood vessels that might not be connected by themselves. This results in flow of blood from a normal area to another normal area of the patient’s body. These devices are majorly utilized in the patient’s heart and legs so that any concern regarding blood flow can be resolved and no major complications are forthcoming.
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The main factors boosting the market are:
- Technological advancement and constant innovations: One of the major factors responsible behind the substantial rate of growth that the market for vascular grafts is experiencing is due to the fact that the majority of manufacturers are focusing on significant innovations and advancements of technology for the production and usage of vascular grafts in various applications. These innovations have resulted in greater effectiveness of performance which has subsequently been a reason behind the substantial market growth
- Preference of minimally invasive surgical procedures: Along with the various innovations in the product range, another factor responsible for the growth of vascular grafts market has been the patient preference to undergo minimally invasive surgical procedures. The preference of minimally invasive surgeries is being in high demand due to the fact that it reduces the healing time for the patients, while also significantly reducing the chances of any surgical complications in patients
The market is segmented on the basis of raw material as polyester grafts, ePTFE, polyurethane grafts, biosynthetic grafts; indication as endovascular aneurysm repair, peripheral vascular, hemodialysis access; end-user as hospitals, ambulatory surgical centers; application as coronary artery disease, aneurysm, vascular occlusion, renal failure .
Some of the recent market developments are as follows:
- In May 2019, W.L. Gore & Associates, Inc. announced that they had received U.S. FDA approval for the distribution of “Gore Tag Conformable Thoracic Stent Graft” equipped with “Active Control System”. The device is used for thoracic endovascular aortic repair (TEVAR), providing high precision and control along with the dependability of a conformable gore tag device
- In April 2017, Terumo Corporation announced that they had completed the acquisition of Bolton Medical, Inc. for USD 174 million. This acquisition will help in the expansion of Terumo’s cardiac & vascular company and the business operations of Bolton Medical, Inc. will be integrated into Terumo’s “Vascular Graft Division”. This acquisition will help in the extension of Terumo’s stent graft product range and enhance the strength of their vascular graft business operations throughout the United States
“According to Data Bridge Market Research, global vascular grafts market is growing at a substantial CAGR of 6% during the forecast period of 2019 to 2026”
Some of the major players operating in genomics market are LeMaitre Vascular Inc., Artegraft, TERUMO CORPORATION, W. L. Gore & Associates Inc., Heart Medical, BD, Getinge AB, Cook Group, B. Braun Melsungen AG, Medtronic, Japan Lifeline Co. Ltd., Cardinal Health and ENDOLOGIX INC among others.
One of the most promising moments for market players dealing in vascular grafts is the availability of various untapped geographical regions for these products. Conventionally, various market players have not been focusing on providing these regions their product range and service offerings. With the availability of these large areas of untapped emerging markets, globally a valuable opportunity is present to expand their market share and therefore enhance their revenues.
