What is the global market size of Vascular Patches Market?

Global Vascular Patches Market size was valued at USD 358.28 Million in 2021 and is poised to grow from USD 387.3 Million in 2022 to USD 724.2 Million by 2030, growing at a CAGR of 8.1% in the forecast period (2023-2030).

Vascular Patches Market Size, Share, Growth Analysis, By Material(Biologic Vascular Patches, and Synthetic Vascular Patches), By Application(Carotid Endarterectomy, Aortic Aneurysms, Profundaplasty, and Other Applications), By Region - Industry Forecast 2024-2031

Q: Who are the key vendors in the Global Vascular Patches Market?

The competitive environment of the global Vascular Patches Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Medtronic plc', 'W. L. Gore and Associates, Inc.', 'Getinge AB', 'LeMaitre Vascular, Inc.', 'Cook Medical', 'B.Braun', 'C. R. Bard', 'Terumo Corporation', 'Endologix', 'Shanghai Suokang Medical Implants Co. Ltd.', 'Cardinal Health'

Q: Which region accounted for the largest share in Global Vascular Patches Market?

North America held a substantial portion of the global vascular patches market, largely attributed to a rising awareness of health matters and the widespread availability of cardiovascular treatment facilities across the region. Additionally, the presence of well-defined reimbursement protocols and the adoption of advanced technological methodologies contribute significantly to the expansion of the market.

Report ID: SQMIG35A2805 | Region: Global | Published Date: April, 2024
Pages: 219 | Tables: 63 | Figures: 66

Vascular Patches Market Dynamics

Drivers

Growing Prevalence of Vascular Diseases

The rapid expansion of the worldwide elderly demographic stands as a significant contributing factor to the rising prevalence of numerous diseases and conditions, encompassing CVDs, high cholesterol, hypertension, strokes, cancer, and aneurysms. The age is a prominent factor contributing to the decline of cardiac health, the growth observed within the aging population serves as a pivotal indicator driving market expansion.

Restraints

Product Recall

The projected hindrance to market growth in the forecast period is attributed to a notable rise in product recalls. As an illustration, Baxter International, a prominent healthcare company based in Illinois, U.S., conducted a recall of the Vascu-Guard peripheral vascular patch. Instances of such recalls, indicative of quality or safety concerns associated with specific medical products, are anticipated to impede the market's growth trajectory. This recall serves as an exemplar of the impact such events can have on market dynamics, potentially influencing consumer trust and industry performance during the forecast period.

Vascular Patches Market Report Snapshots

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FAQs

Vascular Patches Market size was valued at USD 387.30 million in 2022 and is poised to grow from USD 418.67 million in 2023 to USD 780.69 million by 2031, growing at a CAGR of 8.10% during the forecast period (2024-2031).

The competitive environment of the Vascular Patches Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Medtronic plc', 'W. L. Gore and Associates, Inc.', 'Getinge AB', 'LeMaitre Vascular, Inc.', 'Cook Medical', 'B.Braun', 'C. R. Bard', 'Terumo Corporation', 'Endologix', 'Shanghai Suokang Medical Implants Co. Ltd.', 'Cardinal Health'

The rapid expansion of the worldwide elderly demographic stands as a significant contributing factor to the rising prevalence of numerous diseases and conditions, encompassing CVDs, high cholesterol, hypertension, strokes, cancer, and aneurysms. The age is a prominent factor contributing to the decline of cardiac health, the growth observed within the aging population serves as a pivotal indicator driving market expansion.

The adoption of the MIDCAB (Minimally Invasive Direct Coronary Artery Bypass) procedure has witnessed a surge owing to heightened interest in minimally invasive medical techniques, attributed to its safety profile and low mortality rates. Furthermore, its compatibility with cardiopulmonary bypass and aortic cross-clamp adds to its appeal. Anticipations for the future indicate that advancements in surgical procedures incorporating coronary artery stent grafts will likely drive an increased demand for vascular grafts.

North America held a substantial portion of the vascular patches market, largely attributed to a rising awareness of health matters and the widespread availability of cardiovascular treatment facilities across the region. Additionally, the presence of well-defined reimbursement protocols and the adoption of advanced technological methodologies contribute significantly to the expansion of the market.

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Vascular Patches Market Size, Share, Growth Analysis, By Material(Biologic Vascular Patches, and Synthetic Vascular Patches), By Application(Carotid Endarterectomy, Aortic Aneurysms, Profundaplasty, and Other Applications), By Region - Industry Forecast 2024-2031

Vascular Patches Market Dynamics

Vascular Patches Market Report Snapshots

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FAQs

What is the market size of Vascular Patches Market?

Who are the key vendors in the Vascular Patches Market?

What is the key driver of Vascular Patches Market?

What is the key market trend for Vascular Patches Market?

Which region accounted for the largest share in Vascular Patches Market?

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