New report on vascular patches market dominated by biologic vascular patches and synthetic vascular patches. Biologic vascular patches segment is expected to grow at highest CAGR during forecast period.
The vascular patches market is expected to reach USD 525.8 million by 2023 from USD 349.6 million in 2018, at a CAGR of 8.5%. Growth in this market can largely be attributed to advantages associated with use of biologic vascular patches, such as superior bio compatibility, ease of use, minimal suture line bleeding, and reduced rates of infection in comparison with synthetic patches.
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Report analyses vascular patches market by material, application, end user, and region. Apart from a comprehensive geographic product analysis and market sizing, report also provides a competitive landscape that covers growth strategies adopted by industry players over last three years. In addition, company profiles include product portfolios, developments, and strategies adopted by prominent market players to maintain and increase their shares in market.
Target Audience for this Report:
- Manufacturers and vendors of vascular patch products
- Distributors of vascular patch products
- Venture capitalists
- Various research and consulting firms
- Hospitals and clinics
- Ambulatory surgical centers
Factors such as rapidly growing geriatric population and the subsequent increase in the prevalence of vascular diseases; increasing number of vascular surgeries performed; and increasing adoption of biological patches are driving the growth of the market.
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Key players in vascular patches market include 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 Life sciences Corporation (US).
List of Figures
Figure 1 Research Design
Figure 2 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 Vascular Patches Market, By Material, 2018 vs 2023 (USD Million)
Figure 7 Vascular Patches Market, By Application, 2018 vs 2023 (USD Million)
Figure 8 Vascular Patches Market, By End User, 2018 vs 2023 (USD Million)
Figure 9 Vascular Patches Market, By Region, 2018 vs 2023 (USD Million)
Figure 10 Emerging Markets to Offer A Wide Range of Growth Opportunities for Market Players
Geographically, vascular patches market is dominated by North America, followed by Europe in 2017. Asia Pacific is estimated to grow at fastest rate due to the rising prevalence of cardiovascular diseases and the implementation of favorable government initiatives in several Asian countries.In India, for example, the central government and the Health Ministry launched the AMRIT (Affordable Medicines & Reliable Implants for Treatment) program in 2015.
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The global vascular patches market is dominated by North America, followed by Europe. North America will continue to dominate the global vascular patches market during the forecast period. However, the Asia Pacific market is estimated to register the highest growth rate during the forecast period. Growth in this market is driven by the presence of a large patient population and increasing awareness regarding advanced vascular products.
The vascular patches market has been segmented into hospitals & clinics and ambulatory surgical centers. In 2017, the hospitals & clinics segment accounted for the largest market share. The availability of infrastructure and the presence of skilled professionals in hospitals are the major driving factors for this segment.