The Worldwide Vascular Patches Industry is Projected to Reach $517 Million by 2027 - Rising Incidence of CVD is Driving Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Vascular Patches Market by Material (Biologic, Synthetic), Application (Open Repair of Abdominal Aortic Aneurysm, Congenital Heart Disease, Carotid Endarterectomy), End User (Hospitals, Ambulatory Surgical Centers) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global vascular patches market is valued at an estimated USD 353 million in 2022 and is projected to reach USD 517 million by 2027, at a CAGR of 7.9% during the forecast period. 

The biologic vascular patches held the largest share of the vascular patches market, by material

Based on material, the global vascular patches market is segmented into biological and synthetic vascular patches. Biologic vascular patches held a significant share in the market. It is also the fastest-growing material segment in this market. Growth in this segment is primarily driven by the advantages offered by the biologic patches over their synthetic counterparts.

The vascular bypass surgery segment is the fastest growing segment of the vascular patches market, by application

Based on application, the vascular patches market is segmented into carotid endarterectomy (CEA), open repair of abdominal aortic aneurysm (AAA), congenital heart diseases, vascular bypass surgery, and other applications. The vascular bypass surgery is expected to witness the fastest growth during the forecast period. The high growth rate of vascular bypass surgery can be attributed to the availability of reimbursement in emerging and developed economies.

Among the end users, the hospitals segment is anticipated to register the highest growth during the forecast period

Based on end users, the vascular patches market is segmented into hospitals and ambulatory surgical centers. The hospitals segment is anticipated to witness growth at the highest rate during the forecast period. The growth can be attributed to the increasing number of hospitals offering better healthcare services and infrastructure.

The Asia Pacific market is expected to grow at the highest CAGR during the forecast period

The global vascular patches market is segmented into four regions - North America, Europe, the Asia Pacific, and the Rest of the World. The Asia Pacific region is expected to witness the highest growth in the vascular patches market during the forecast period. The high growth in this region can primarily be attributed to the large number of the target population and improved healthcare infrastructures in Southeast Asian countries.

Market Dynamics

Drivers

• Rising Incidence of CVD
• Growing Geriatric Population and Subsequent Prevalence of Vascular Diseases
• Rising Number of Cardiovascular Surgeries Worldwide
• Availability of Reimbursement for Vascular Procedures
• Growing Adoption of Biological Patches

Restraints

• High Procedural Cost of Vascular Surgeries and Associated Products
• Product Failures and Recalls

Opportunities

• Emerging Economies
• Growth in the Number of Hospitals & Surgical Centers

Challenges

• Lack of Skilled Professionals

Companies Mentioned

• Aegis Lifesciences
• Artivion, Inc.
• Aziyo Biologics, Inc.
• B. Braun
• Baxter International, Inc.
• Becton, Dickinson and Company
• Edwards Lifesciences Corporation
• Getinge Ab
• Labcor Laboratorios Ltda.
• Lemaitre Vascular, Inc.
• Synkromax Biotech Pvt. Ltd.
• Terumo Corporation
• Vup Medical
• W. L. Gore & Associates, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/7s1761