The Global Vascular Patches Market is estimated to grow double fold by the end of 2023. The market is mainly driven by the burgeoning healthcare sector. In 2017, the market had valued at USD 4.1 Bn which is expected to reach USD 6.1 Bn by 2023, registering 4.1% CAGR during the forecast period (2018-2023).
Deskbound lifestyle, anxiety, stress and high consumption of junk food are the key causes of cardiovascular diseases. Sedentary lifestyle mirrors the demand for vascular surgeries and hence, patches. Moreover, the increasing number of cases of cardiovascular diseases are supporting the vascular patches market to grow rapidly.
Key Players
Leading players profiled in the vascular patches market include Baxter International Inc. (U.S.), Edwards Lifesciences Corporation (U.S.), Labcor Laboratorios Ltda (Brazil), Admedus (Australia), CryoLife, Inc. (U.S.), W. L. Gore & Associates, Inc. (US), LeMaitre Vascular, Inc. (U.S.), Maquet (Germany), B. Braun Melsungen AG (Germany), Terumo Corporation (Japan), C.R. Bard, Inc. (U.S.) and others.
April 2019- Tel Aviv University researchers have come up with the world's first ever 3D printed heart that is perfectly functioning, anatomically, biochemically, cellular and immunologically matched. The heart will be vascularized and supplied through the patient's blood vessels and created from the own cells of the patient. This new study is called "3D Printing of Personalized Thick and Perfusable Cardiac Patches and Hearts" and throws light on the fact that should a 3D printed heart be made from the own cells of the patient and transplanted, there can be higher transplant success.
Market Segmentation
MRFR report provides an extensive segmental analysis of the Vascular Patches Market Trends on the basis of application, material and end-user.
Based on material, it is segmented into synthetic vascular patches and biologic vascular patches. Of these, the biologic vascular patches will have the maximum share in the market over the predicted years followed by synthetic vascular patches that will grow at the fastest pace.
Based on application, the vascular patches market is segmented into open repair of abdominal aortic aneurysms vascular bypass surgery and carotid endarterectomy. Of these, carotid endarterectomy will dominate the market followed by open repair of abdominal aortic aneurysms vascular bypass surgery which will grow at the fastest rate.
Based on end-user, it is segmented into ambulatory surgical centers, hospitals and clinics and others. Of these, hospitals and clinics will rule the market followed by ambulatory surgical centers that will grow at the fastest pace.
Regional Analysis
By region, the vascular patches market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Middle East and Africa. Of these, North America will domineer the market over the predicted years and is expected to expand at a substantial CAGR. The increasing occurrence of cardiovascular issues in Canada and the US, growing population and increasing per capita healthcare spending will boost the market growth in this region. Also, the rapid uptake of latest devices and technologies in the surgical procedure and the presence of key manufacturers is again boosting the market growth. The vascular patches market in Europe will have the second major share due to the resurging economy, growing awareness regarding vascular patches and procedure advancements and increasing per capita healthcare expenses. The vascular patches market in the APAC region will grow at the fastest pace over the predicted years owing to growing healthcare sector in India and China, increasing geriatric populace, growing awareness regarding healthcare and rising incidence of people suffering from various chronic coronary diseases.
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