DUBLIN--(BUSINESS WIRE)--The "China Vascular Grafts Market Size, Share & Trends Analysis Report By Product, By Application (Kidney Failure, Vascular Occlusion, Coronary Artery Disease), By Raw Material, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
China's vascular grafts market size is expected to reach USD 172.8 million by 2028. The market is expected to expand at a CAGR of 8.6% from 2021 to 2028.
The increasing prevalence of cardiovascular diseases, diabetes, and end-stage renal disease are the factors driving the market. The rise in the number of people suffering from these conditions is expected to boost the demand for these products in the coming years. In addition, the development of novel technologies, such as tissue-engineered materials, is expected to boost overall revenue over the forecast period. The COVD-19 pandemic has negatively impacted the country's growth due to the increasing focus on COVID-19 treatment and recommended deferrals of elective medical procedures in the country.
In 2020, the endovascular stent-grafts product segment held the largest revenue share. The growth in the adoption of minimally invasive endovascular procedures due to their benefits such as short hospital stays low mortality rate, and perioperative morbidity, driving the segment growth. On the other hand, the peripheral vascular grafts segment is anticipated to be the fastest-growing segment during the forecast period owing to the increasing number of patients suffering from peripheral artery disease in China.
The cardiac aneurysm application segment accounted for the largest revenue share in 2020. The increasing prevalence of unruptured saccular aneurysms, affecting the flow of intracranial arteries, is expected to boost the adoption of these products over the forecast period. Abdominal Aortic Aneurysms (AAA) have a worse prognosis in men and have gained considerable attention in recent years, hence, gender-specific research about the development of novel products is expected to gain momentum over the forecast period. On the other hand, vascular occlusion application is expected to be the fastest-growing segment during the forecast period due to the increasing prevalence of vascular occlusive diseases and the easy availability of graft procedures. Technological advancements resulting in the development of novel therapies, which help to reduce the severity of acute ischemia after occlusion of PTFE grafts and thereby, minimizing the risks associated with prosthetic vascular grafts.
As of 2020, the polytetrafluoroethylene raw material segment accounted for the largest revenue share. It is anticipated to witness the fastest CAGR during the forecast period. Multiple applications of polytetrafluoroethylene vascular grafts, such as replacement of diseased arteries and creation of dialysis access site, along with many players offering a variety of polytetrafluoroethylene-based products are among factors supporting overall growth. In addition, easy availability of raw material and high tensile strength and durability are also responsible for high adoption in China.
China Vascular Grafts Market Report Highlights
- The market is expected to witness significant growth by 2028, owing to rising demand for minimally invasive procedures and the continuous introduction of innovative solutions.
- The endovascular stent-grafts segment has dominated the market in 2020 due to increasing consumer preference for minimally invasive endovascular stent-grafts in China.
- The cardiac aneurysm application segment dominated the market in 2020 due to the increasing prevalence of cardiovascular diseases in China.
- The polytetrafluoroethylene raw material segment dominated the market in 2020 due to the rise in the number of players offering polytetrafluoroethylene vascular grafts.
- Medtronic plc
- Terumo Corporation
- LeMaitre Vascular, Inc.
- C.R. Bard; W.L. Gore and Associates, Inc.
- Shanghai Suokang Medical Implants Co. Ltd.
- Getinge AB
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