The vascular grafts market is expected to reach USD 3.80 Billion by 2022 from USD 2.67 Billion in 2017, at a CAGR of 7.3%. Factors driving the growth of the vascular grafts market include rising demand for endovascular aneurysm repair procedures, increasing incidences of end-stage renal disorders, and growing geriatric population.
This market covers vascular grafts that are used to treat different types of aneurysms. These vascular grafts, commonly made from polyesters or ePTFE, are used for hemodialysis vascular access and endovascular aneurysm & thoracic aneurysm repair.
Based on raw material, the vascular grafts market is segmented into polyester grafts, ePTFE grafts, polyurethane grafts, and biosynthetic grafts. Polyester grafts segment is likely to dominate this market in 2017 and this segment is also estimated to register the highest CAGR during the forecast period. The high growth of this segments is primarily attributed to the high adoption of polyester by market players in the manufacturing of vascular grafts and the various advantages offered by this raw material, such as high patency, high porousness, and long lifespan.
Based on indication, the vascular grafts market is segmented into endovascular aneurysm repair, hemodialysis access, and peripheral vascular aneurysm. The endovascular aneurysm repair segment is expected to hold the largest market share in 2017 and grow at the highest growth rate during the study period. The high growth in this segment is attributed to the increasing demand for endovascular aneurysms repair procedures and increasing prevalence of risk factors that trigger aneurysms such as hypertension and obesity.
Based on end users, the vascular grafts market is segmented into hospitals and ASCs. The hospitals segment dominated the market in 2017 and is expected to grow at the highest CAGR during the forecast period. Factors such as the rising number of MIS procedures in hospitals and favorable Medicare coverage of vascular grafts in most developed countries are driving the growth of this end-user segment.
The global vascular grafts market is segmented in North America, Europe, Asia Pacific and Rest of World. North America dominated the vascular grafts market in 2017, followed by Europe. North America is expected to maintain its dominant share of the global vascular grafts market during the forecast period. Increasing government initiatives to advance the aneurysm treatment and increasing healthcare expenditure are the key factors driving the growth of this regional segment.
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