Global Vascular Patches Market Insights Forecasts to 2032
- The Global Vascular Patches Market Size was valued at USD 353 Million in 2022.
- The Market Size is Growing at a CAGR of 5.9% from 2022 to 2032.
- The Worldwide Vascular Patches Market size is expected to reach USD 626 Million by 2032.
- Asia Pacific is expected to Grow the fastest during the forecast period.
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The Global Vascular Patches Market Size is expected to reach USD 626 Million by 2032, at a CAGR of 5.9% during the forecast period 2022 to 2032.
After the carotid endarterectomy procedure, vascular patches are employed. The patches make sure that the endarterectomy and vascular rebuilding processes are completed with accurate closures. Vascular patches are used for surface line buttressing, peripheral vascular reconstruction, and other procedures. The patches are additionally utilized for iliac, renal, and femoral endarterectomy procedures. Polyester urethane is used to create vascular patches. Patches' stretchy fabric aids in reducing suture hole bleeding. Vascular patches are incredibly easy to handle. The microporous design of the patches facilitates optimal tissue integration. The biocompatibility and long-term mechanical stability of patches made from biological or synthetic materials are excellent.
This research report categorizes the global Vascular Patches market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global Vascular Patches market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global Vascular Patches market. Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire a wider range of applications in the downstream market.
Global Vascular Patches Market Report Coverage
|Market Size in 2022 :||USD 353 Million|
|Forecast Period 2022-2032 CAGR:||5.9%|
|2032 Value Projection:||USD 626 Million|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||120|
|Segments covered:||By Material, By Application, By End User, By Region|
|Companies Covered:||LeMaitre Vascular, Inc., Baxter International, Inc. , W. L. Gore & Associates, Inc., Getinge AB , B Braun, Artivion, Inc , Edwards Lifesciences Corporation, Aziyo Biologics, Inc., Terumo Corporation, BD , Labcor Laboratórios Ltd, VUP Medical, Aegis Lifesciences , SynkroMax Biotech Pvt. Ltd., And other key venders|
|Pitfalls & Challenges:||COVID-19 Empact,Challenges, Future, Growth, & Analysis|
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The market is being driven by the increased prevalence of vascular problems among the aging population, a favorable reimbursement scenario for associated procedures, the expansion of healthcare facilities, and an increase in the usage of biological patches. Vascular patches are also becoming more popular as a result of the increased costs of developing healthcare infrastructure. Vascular patches are in high demand due to the high frequency of ischemic heart disease and stroke, both of which result in a significant number of hospital admissions. Also, due to their exceptional biocompatibility, low risk of infection, safety, and convenience of use, biological vascular patches have the greatest acceptance rate on the market. These factors will help the industry grow even faster.
The market for vascular patches is expected to experience slower growth in the targeted period as a result of the decline in carotid endarterectomy operations. However shortly, the market for vascular patches may face additional challenges due to the rising need for highly qualified workers.
- In 2022, the biologic segment is influencing the largest market share during the forecast period.
Based on material, the global vascular patches market is bifurcated into different segments such as biologic and synthetic. Among these segments, the biologic segment is expected to have significant development potential during the forecast period. This is due to the widespread use of biological variations for artery closure during cardiovascular procedures. In comparison to their synthetic equivalents, these patches have several benefits, including greater compatibility with living tissue, a lack of toxicity or harm, a reduced risk of immunological rejections, and ease of usage. They also lessen the risk of infection and suture line hemorrhage.
- In 2022, the carotid endarterectomy segment is dominating the market with the largest market share during the forecast period.
Based on the application, the global vascular patches market is segmented into various types such as carotid endarterectomy, open repair of abdominal aortic aneurysm, vascular bypass surgery, congenital heart disease, & others. Among these segments, the carotid endarterectomy segment is dominating the market with the largest revenue share during the forecast period due to in contrast to a primary closure, patch angioplasty in classic carotid endarterectomy could lower the incidence of a recurrent ipsilateral stroke and restenosis, according to a systematic evaluation of randomized clinical trials.
Vascular bypass surgery will experience significant expansion during the projection period as a result of reimbursement being available in developed and emerging markets. Around 400,000 cardiac bypass surgeries are performed annually worldwide, with 20,000 in the United States and 60,000 in India. Surgery is preferred over all other treatments by doctors in India because it has a 98% success rate—significantly higher than in the United States.
- In 2022, the hospitals segment is influencing the market with the largest market share during the forecast period.
Based on end users, the global vascular patches market is segmented into various types such as hospitals and ambulatory surgical centers. Among these segments, the hospitals segment is dominating the market with the largest revenue share during the forecast period due to the substantial proportion of this market can be attributable to rising government initiatives to reduce the cost of vascular surgery and the expansion of hospitals in developing countries.
Regional Segment Analysis of the Vascular Patches market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America led the market with the largest market share during the forecast period
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North America is influencing significant market growth over the forecast period due to variables like the rising prevalence of vascular disorders, for example. Additionally, the cost of healthcare is rising in the United States, opening up new prospects for the development of enhanced vascular patches and expanding their marketability, both of which are driving market expansion. The United States spent 17.8% of its total gross domestic product (GDP) in 2021 on healthcare, according to OECD data from June 2022.
Aisa Pacific is expected to experience high revenue market growth during the forecast period due to the demand for vascular procedures and interventions is being driven by the area's huge and quickly growing population as well as an increase in the prevalence of cardiovascular illnesses. The industry is also expected to develop as a result of better healthcare infrastructure, rising disposable incomes, and more public knowledge of cutting-edge medical procedures.
The report offers the appropriate analysis of the key organizations/companies involved within the global Vascular Patches market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- LeMaitre Vascular, Inc.
- Baxter International, Inc.
- W. L. Gore & Associates, Inc.
- Getinge AB
- B Braun
- Artivion, Inc
- Edwards Lifesciences Corporation
- Aziyo Biologics, Inc.
- Terumo Corporation
- Labcor Laboratórios Ltd
- VUP Medical
- Aegis Lifesciences
- SynkroMax Biotech Pvt. Ltd.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In May 2022, as part of its Series D fundraising round, which was headed by a multinational strategic business, Vivasure Medical closed the first tranche of USD 22 million (USD 23 million). The money aids in the clinical development and regulatory approval of the company's portfolio of completely absorbable, patch-based, large-bore percutaneous vessel closure devices for transcatheter endovascular and cardiovascular operations in the United States and Europe.
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Vascular Patches Market based on the below-mentioned segments:
Global Vascular Patches Market, By Material
Global Vascular Patches Market, By Application
- Carotid Endarterectomy
- Open Repair of Abdominal Aortic Aneurysm
- Vascular Bypass Surgery
- Congenital Heart Disease
Global Vascular Patches Market, By End User
- Ambulatory Surgical Centers
Vascular Patches Market, By Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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