Vascular Patches Market | Industry Size, Growth, Demand Forecast Analysis Report 2023
Vascular Patches Market Size and Growth Rate:
Vascular Patches Market Size is expected to reach USD 523 Million by the end of 2023 from USD 320 Million in 2017 at a CAGR of 8.2% during the forecast period 2018-2023.
Vascular Patches Market – Growth Drivers and Challenges:
The urethane polyester is used for the production of vascular patches. It has a greater mechanical stability and excellent biocompatibility. Elastic materials reduce bleeding from the suture hole. A microporous patch allows the incorporation of tissue and is airtight, which means that it does not require impregnation or pre-coagulation. In the worldwide market, biological vascular patches play an important role in market growth due to their advantages such as ease of use, minimal infection rate compared to synthetic biocompatibility and excellent low bleed suture lines.
The factors that limit the growth of the vascular patch market are the lack of qualified professionals and the cases of product failure.
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Prominent Key Players are mentioned in Vascular Patches Market Report:
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) and more other key players.
Vascular Patches Market – Detailed Segmentation:
Vascular Patch Market is fragmented according to its application, material and end user. In terms of application, the market is divided into vascular bypass, carotid endarterectomy, open repair of abdominal aortic aneurysms and other applications. According to the material, the market for vascular patches is divided into synthetic vascular patches and biological vascular patches. According to the end user, the market is divided into outpatient surgery centers, hospitals and clinics.
Vascular Patches Market – Regional Presence:
North America has been an important part of the vascular patch market. The factors that influence the growth of the market in this region are the aging of the population and the increasing frequency of vascular diseases. In addition, the presence of the main market players in the region also accelerates market growth. The market for vascular patches is expected to grow at a rapid pace in the Asia-Pacific region due to the increasing number of cases of cardiovascular diseases. In addition, government support initiatives have also boosted the market.
Vascular Patches Market – Geographic Segmentation:
- North America
- Latin America
- Middle East and Africa
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