ID: MRFR/MED/5189-HCR | 100 Pages | Published By Kinjoll Dey on March 2023
The global market of the vascular patches is expected to reach USD 6.1 Bn by the end of 2023, growing at approximately 8 % CAGR over the forecast period 2020-2030
Vascular Patches Market Overview:
The global vascular patches market is expected to reach USD 6.1 Bn by the end of 2020, growing at approximately 8% CAGR over the forecast period (2022-2030). The market was valued at USD 10,685.61 million in 2020. Vascular patches are used to close sutures in vascular procedures, which are commonly utilized to treat cardiovascular disorders. In all surgical operations, effective primary suture closure is critical. These patches are made of biological or synthetic materials and are known for their high biocompatibility and long-term mechanical stability. Vascular patches are easy to handle and contain a microporous structure that allows for appropriate tissue integration.
Vascular patches' high elasticity provides little suture hole leakage while maintaining high compliance. The worldwide vascular patches market is being driven by factors such as the rising number of vascular operations, the aging population, the increased use of biological patches, and the desire for minimally invasive surgeries. However, constraints such as a decrease in the number of carotid endarterectomy procedures owing to poor preference, as well as a lack of competence in the production, processing, and applications, are limiting the vascular patches market's growth.
Vascular Patches Market Segmentation:
The global vascular patches market has been segmented on the basis of material, application, end-user, and regions. By material, the market is segmented into biologic vascular patches and synthetic vascular patches.
Among these, the segment biologic vascular patches account for the major share in 2017, whereas the synthetic vascular patches market segment accounts for the fastest growing segment.
By application, the vascular patches market is segmented into carotid endarterectomy and open repair of abdominal aortic aneurysms vascular bypass surgery
Out of these, the segment carotid endarterectomy accounts for the largest segment, whereas the open repair of abdominal aortic aneurysms vascular bypass surgery is the fastest growing segment.
By end-user, the vascular patches market is segmented into hospitals & clinics and ambulatory surgical centers, and others. The segment hospitals & Clinics is the largest segment, whereas, the ambulatory surgical centers is the fastest growing segment.
By region, the vascular patches market is segmented into the Americas, Europe, Asia Pacific, and the Middle East & Africa. Out of these, the Americas region dominates the market, whereas the Asia Pacific region is touted to grow at a rapid pace during the forecast period.
Vascular Patches Market Regional Analysis
The Americas, led by higher health care expenditures accounts for the significant vascular patches market share. Factors such as the fastest uptake of newer technologies and devices in the surgical process are some of the essential drivers of the market. The concentration of major producers of vascular patches is fuelling the market growth.
The European region accounts for the second-largest vascular patches market due to the high disposable income and raising awareness towards the good quality vascular patches.
Whereas, the Asia Pacific region is growing rapidly driven by emerging economies such as India and China.
Gulf nations, particularly, Saudi Arabia and UAE drive the vascular patches market in the Middle Eastern region. The African region is estimated to witness moderate growth owing to poor economic & political conditions and inadequate healthcare facilities.
Vascular Patches Market - Key Players
Some of the key players profiled in the vascular patches market report are Terumo Corporation (Japan), C. R. Bard, Inc. (US), B. Braun Melsungen AG (Germany), LeMaitre Vascular, Inc. (US), Maquet (Germany), W. L. Gore & Associates, Inc. (US), Admedus (Australia), CryoLife, Inc. (US), Labcor Laboratórios Ltda (Brazil), Baxter International Inc. (US), and Edwards Lifesciences Corporation (US).Recent Development
Terumo Corp. (Terumo) is a medical technology firm that develops and distributes a variety of medical products and equipment, including hospital and medical items. Pharmaceuticals, blood bags, disposable medical devices, nutritional food supplements, cardiovascular systems, vascular grafts, blood glucose monitoring systems, medical electronics, peritoneal dialysis, and digital thermometers are among the company's primary product categories. The headquarters of Terumo is in Tokyo, Japan.
Getinge AB's subsidiary, Maquet Holding BV & Co KG (Maquet), designs, develops and distributes medical systems. Anesthesia delivery systems, surgical assist systems, fixed equipment, mobile equipment, operation room lighting, and ceiling supply units, vascular grafts and patches, patient flow management, mobile oxygen supply, and patient flow management are among the company's primary products. Maquet provides solutions across a wide range of specializations and treatments, including interventional cardiology, vascular surgery, general surgery, orthopedics, anesthesia, laparoscopic surgery, and patient transport.
The research report - Global Vascular Patches Market by Market Research Future (MRFR) comprises an in-depth primary research and the detailed analysis of qualitative as well as quantitative perspectives of various industry experts. Key opinions of market leaders enable to gain a deeper insight of the market performance. The detailed market analysis provides a clearer picture of the current market scenario including past and future market size in terms of value as well as volume alongside the technological advancement, macroeconomy, and governing factors of the market. The report provides detailed information and strategies of topnotch players in the market while providing a broad study of the various segments and regions.
For the scope of research, the report offers a comprehensive analysis of the global vascular patches market.
|Market Size||USD 10,685.61 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material, Application, End-User and Regions|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Terumo Corporation (Japan), C. R. Bard, Inc. (US), B. Braun Melsungen AG (Germany), LeMaitre Vascular, Inc. (US), Maquet (Germany), W. L. Gore & Associates, Inc. (US), Admedus (Australia), CryoLife, Inc. (US), Labcor Laboratórios Ltda (Brazil), Baxter International Inc. (US), and Edwards Lifesciences Corporation (US)|
|Key Market Opportunities||
|Key Market Drivers||
vascular patches market is projected to grow at an 8% CAGR between 2020-2030.
vascular patches market predicted to touch USD 8 billion by 2030.
The Americas is projected to command the largest share in the vascular patches market.
Increasing use of biological patches and rising number of vascular surgeries are adding market growth.
Lack of expertise may limit market growth.