Market Analysis
The global vascular patches market size is poised to touch
USD 10.68 billion by 2030 at a notable 8.0% CAGR over the predicted years 2022-2030.
Vascular patches are utilized in vascular surgeries for closing sutures. In
every surgical procedure, the primary closure of sutures needs to be done
effectively. Vascular patches are made from synthetic or biological materials
and are characterized through excellent biocompatibility. Of the different
types, it is the biological vascular patches that are most widely used owing to
its various advantages such as excellent biocompatibility, low suture line
bleeding, minimum infection rate and ease in use.
There are
plentiful factors that is boosting the growth of the vascular patches market. These factors as per the Market Research
Future (MRFR) report include rapidly increasing geriatric population,
prevalence of vascular diseases, growing number of vascular surgeries being
performed, growing use of biological patches, need for minimally invasive
surgeries and increasing product launches and research and development
investments. On the contrary, scarcity of skilled professional, mishandling,
decrease in carotid endarterectomy surgeries owing to low preference are
factors that may restrict the growth of the vascular
patches market.
Key Players
Vascular
patches market players are include Baxter
International Inc. (U.S.), Edwards Lifesciences Corporation (U.S.), Labcor
Laboratórios Ltda (Brazil), Admedus (Australia), CryoLife, Inc. (U.S.), W. L.
Gore & Associates, Inc. (US), LeMaitre Vascular, Inc. (U.S.), Maquet
(Germany), B. Braun Melsungen AG (Germany), Terumo Corporation (Japan), C.R.
Bard, Inc. (U.S.) and others.
Market Segmentation
MRFR
report provides an extensive segmental analysis of the vascular patches market on the basis of application, material and
end-user.
Based on
material, it is segmented into synthetic vascular patches and biologic vascular
patches. Of these, the biologic vascular patches will have the maximum share in
the market over the predicted years followed by synthetic vascular patches that
will grow at the fastest pace.
Based on
application, the vascular patches market is
segmented into open repair of abdominal aortic aneurysms vascular bypass
surgery and carotid endarterectomy. Of these, carotid endarterectomy will
dominate the market followed by open repair of abdominal aortic aneurysms
vascular bypass surgery which will grow at the fastest rate.
Based on
end-user, it is segmented into ambulatory surgical centers, hospitals and
clinics and others. Of these, hospitals and clinics will rule the market
followed by ambulatory surgical centers that will grow at the fastest pace.
Regional Analysis
By
region, the vascular
patches market insights covers growth opportunities and latest
trends across North America, Europe, Asia Pacific and Middle East and Africa. Of
these, North America will domineer the market over the predicted years and is
expected to expand at a substantial CAGR. The increasing occurrence of
cardiovascular issues in Canada and the US, growing population and increasing
per capita healthcare spending will boost the market growth in this region. Also,
the rapid uptake of latest devices and technologies in the surgical procedure
and the presence of key manufacturers is again boosting the market growth. The vascular patches market in Europe will have the second
major share due to the resurging economy, growing awareness regarding vascular
patches and procedure advancements and increasing per capita healthcare
expenses. The vascular patches market in the APAC region will grow at the
fastest pace over the predicted years owing to growing healthcare sector in
India and China, increasing geriatric populace, growing awareness regarding
healthcare and rising incidence of people suffering from various chronic
coronary diseases.
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