Vascular Patches Market Size Analysis by Material (Biologic Vascular Patches, Synthetic Vascular Patches), Application (Carotid Endarterectomy, Open Repair of Abdominal Aortic Aneurysms Vascular Bypass Surgery, and Others), End-user (Hospitals and Clinics, Ambulatory Surgical Centers, and Others), and Region–Global Forecast till 2023
The Global Vascular Patches Market Size is poised to touch USD 6.1 billion at a notable 4.1% CAGR over the predicted years (2018-2023). Vascular patches are utilized in vascular surgeries for closing sutures. In every surgical procedure, the primary closure of sutures needs to be done effectively. Vascular patches are made from synthetic or biological materials and are characterized through excellent biocompatibility. Of the different types, it is the biological vascular patches that are most widely used owing to its various advantages such as excellent biocompatibility, low suture line bleeding, minimum infection rate and ease in use.
There are plentiful factors that is boosting the growth of the Vascular Patches Market. These factors as per the Market Research Future (MRFR) report include rapidly increasing geriatric population, prevalence of vascular diseases, growing number of vascular surgeries being performed, growing use of biological patches, need for minimally invasive surgeries and increasing product launches and research and development investments. On the contrary, scarcity of skilled professional, mishandling, decrease in carotid endarterectomy surgeries owing to low preference are factors that may restrict the growth of the vascular patches market.
Vascular Patches Market Key Players
Leading players profiled in the vascular patches market include Baxter International Inc. (U.S.), Edwards Lifesciences Corporation (U.S.), Labcor Laboratórios 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.
Vascular Patches Market Segmentation
MRFR report provides an extensive segmental analysis of the vascular patches market 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.
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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.
Vascular Patches Market 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.