Vascular Grafts Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery

This report describes and explains the global vascular grafts market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.

The global vascular grafts market reached a value of nearly $2,595.3 million in 2020, having increased at a compound annual growth rate (CAGR) of 2.4% since 2015. The market is expected to grow from $2,595.3 million in 2020 to $3,377.2 million in 2025 at a rate of 5.4%. The market is then expected to grow at a CAGR of 4.3% from 2025 and reach $4,169.0 million in 2030.

Growth in the historic period in the vascular grafts market resulted from increase in cardiovascular diseases (CVDs), increased geriatric population, strong economic growth in emerging markets, rise in healthcare expenditure and growth in the number of healthcare facilities. The market was restrained by high costs of surgery and low healthcare access.

Going forward increasing number of renal diseases, increase in hypertension prevalence, sedentary lifestyles, rapid growth in the geriatric population, increase in diabetes, increase in cardiovascular diseases (CVDs) and rise in healthcare expenditure will drive the growth in the vascular grafts market. Factors that could hinder the growth of the market in the future include complications associated with vascular grafts, the coronavirus pandemic and low per capita healthcare expenditure.

The vascular grafts market is segmented by product into endovascular stent grafts, peripheral vascular grafts, hemodialysis access grafts and coronary artery by-pass grafts. The endovascular stent graft market was the largest segment of the vascular grafts market segmented by product, accounting for 75.6% of the total in 2020. Going forward, the endovascular stent grafts segment is expected to be the fastest growing segment in the vascular grafts market segmented by product, at a CAGR of 5.7% during 2020-2025.

The vascular grafts market is also segmented by raw material into polytetrafluoroethylene grafts, biosynthetic grafts, polyester grafts and polyurethane grafts. The polytetrafluoroethylene grafts market was the largest segment of the vascular grafts market segmented by raw material, accounting for 53.0% of the total in 2020. Going forward, the polytetrafluoroethylene grafts segment is expected to be the fastest growing segment in the proteomic services market segmented by raw material, at a CAGR of 5.5% during 2020-2025.

The vascular grafts market is also segmented by application into aneurysm, vascular occlusion, renal failure and coronary artery disease. The aneurysm market was the largest segment of the vascular grafts market segmented by application, accounting for 69.5% of the total in 2020. Going forward, the aneurysm segment is expected to be the fastest growing segment in the vascular grafts market segmented by application, at a CAGR of 5.7% during 2020-2025.

The vascular grafts market is also segmented by end-user into hospitals and ambulatory surgical centers. The hospitals market was the largest segment of the vascular grafts market segmented by end-user, accounting for 89.6% of the total in 2020. Going forward, the hospitals segment is expected to be the fastest growing segment in the vascular grafts market segmented by end-user, at a CAGR of 5.4% during 2020-2025.

North America was the largest region in the global vascular grafts market, accounting for 34.6% of the total in 2020. It was followed by the Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the vascular grafts market will be Middle East and Africa where growth will be at CAGRs of 8.7% and 8.4% respectively. These will be followed by South America and Asia-Pacific, where the markets are expected to register CAGRs of 7.6% and 6.4% respectively.

The coronavirus pandemic caused a global economic slowdown and impacted various industries across the world, including the vascular grafts market. Nationwide lockdowns and restrictions on activity to contain COVID-19 are disrupting supply chains and affecting manufacturing worldwide. The pandemic has caused significant disruptions in the delivery of healthcare services worldwide. Vascular patients are usually under high risk for respiratory compromise and subsequent mortality if they contract COVID-19. The patient pool is often frail, elderly, comorbid, and they have less respiratory and physiological reserve than many others who contract the SARS-CoV2 virus. The reallocation of intensive care resources, such as ventilators has impacted cardiac surgeries. Also, the elective cardiac surgeries have been delayed owing to the redistribution of intensive care resources and the inherent risk of patients with comorbidities acquiring COVID‐19, mainly due to factors such as prolonged hospital admission, the invasive nature of certain procedures, aerosol-generating nature of procedures, and due to the decreased potential of ICU resources. The medical facilities are being used to treat patients suffering from Covid-19 and hence there is decrease in the intensive care capacity. In April 2020, in the Lombardy region of Italy, 16 out of 20 cardiac surgical units discontinued services and the urgent cases were shifted to remaining four units for centralized services.

The vascular grafts market is highly concentrated with small number oflarge players holding significant market share. The top ten competitors in the market made up to 65.68% of the total market in 2019. Major players in the market include B. Braun Melsungen AG, Abbott Laboratories, Becton, Dickinson And Company, Cardinal Health, Inc., W. L. Gore & Associates, Inc., Terumo Medical Corporation, Medtronic Plc, Getinge, Endologix and Cook Medical.

The top opportunities in the vascular grafts market segmented by product will arise in the endovascular stent grafts segment, which will gain $626.8 million of global annual sales by 2025. The top opportunities in the vascular grafts market segmented by raw material will arise in the polytetrafluoroethylene grafts segment, which will gain $421.0 million of global annual sales by 2025. The top opportunities in the vascular grafts market segmented by application will arise in the aneurysm segment, which will gain $573.7 million of global annual sales by 2025. The top opportunities in the vascular grafts market segmented by end-user will arise in the hospitals segment, which will gain $706.2 million of global annual sales by 2025. The vascular grafts market size will gain the most in the USA at $142.5 million.

Market-trend-based strategies for the vascular grafts market include investing in the latest technology for improving the compliance with smaller vascular grafts, investing in technology such as 3D cell printing, for greater safety and ultimately higher success rates, investing in cell-free vascular grafts, investing in monitoring technology such as smart patches or self-monitoring devices and investing in research and development for newer and more innovative solutions to improve patient care.

Player-adopted strategies in the vascular grafts market include product and process innovations, development of innovative products through sustainable investments in research and development, expanding product portfolio through acquiring similar companies, expanding business and operational presence through product launches and business expansion through partnerships and collaborations.

To take advantage of the opportunities, the publisher recommends the vascular grafts companies to focus on small caliber compliant vascular grafts, invest in manufacturing 3d printed vascular grafts, focus on collaborations to develop new products, expand in emerging markets, provide competitively priced offerings, companies should focus on increasing awareness on importance of early diagnosis of cardiovascular diseases, educating healthcare professionals, focus on patients suffering from cardiovascular diseases.