Synthetic Artificial Blood Vessels Market - Global Industry Analysis (2018 - 2020) - Growth Trends and Market Forecast (2021 - 2026)

The global synthetic artificial blood vessels market was valued at US$296.8 million in 2021 and is expected to index a 5.7% CAGR by 2026. There has been a steady increase in the number of vascular reconstruction procedures being undertaken across the world. The growing prevalence of cardiovascular diseases is a major factor responsible for this. Moreover, an ever-growing patient pool, particularly in emerging nations, is expected to have a profound influence on this market. It is estimated that healthcare expenditures exceed US$300 Bn annually. Respective governments and industry players are now investing greater sums in medical devices such as synthetic blood vessels. Synthetic biocompatible materials allow for the restoration of diseased or damaged tissue structures and function as they have tuneable properties, endless forms, and established structures over natural polymers. Moreover, ongoing advancements in materials science and manufacturing technology are enabling the development of increasingly sophisticated and effective synthetic blood vessels. These advancements are expected to improve patient outcomes and expand the range of conditions that can be treated using these devices.

Key Research Insights

• The global synthetic artificial blood vessels market to index a CAGR of 5.7% by 2026
• North America to account for the majority share of the global synthetic artificial blood vessels market
• Bioengineered blood vessels to create growth prospects in the years ahead
• The global synthetic artificial blood vessels market to achieve a valuation of US$319.4 million in 2026

Aging Populations and Growing Awareness to Boost Market Growth Prospects

With a continual increase in global populations, it is understood that there will also be a subsequent increase in geriatric populations. These individuals are more susceptible to various diseases and conditions that require proper treatment. Synthetic blood vessels offer a promising solution to many of these conditions. Additionally, a growing sense of awareness concerning the benefits of synthetic blood vessels such as improved clinical outcomes and lower complication rates, among others, both for patients and healthcare providers, is another element that is expected to have a profound impact on the growth trajectory of the global synthetic artificial blood vessel market.

North America to Remain a Regional Frontrunner in the Global Synthetic Artificial Blood Vessels Market

Fairfield Market Research has highlighted that North America is expected to remain a frontrunner powerhouse in the global synthetic artificial blood vessels market. This can be accredited to the presence of advanced technological facilities, favourable reimbursement policies, and the use of biometric tools to perform robust diagnostic procedures. Europe is also expected to account for a considerable part of this global market. On the other hand, the Asia Pacific is expected to index a high CAGR over the forecast period, owing to a large population increasing healthcare spending, as well as a higher incidence of cardiovascular diseases.

Global Synthetic Artificial Blood Vessels Market - Key Competitors

B. Braun Melsungen AG, Terumo Aortic (Terumo Group), Humacyte Inc., LeMaitre Vascular Inc., W. L. Gore and Associates, JOTEC GmbH, Cook Medical Inc., and Bard Peripheral Vascular, all collectively account for the majority revenue share of the synthetic artificial blood vessels market and are extensively detailed under our comprehensive competitive profiling and strategic analysis