Global Artificial Blood Vessels Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth
- Vikas Kumar
- March 3, 2022
- HEALTHCARE, NEWS
- Artificial Blood Vessels Market, Artificial Blood Vessels Market Growth, Artificial Blood Vessels Market News, Artificial Blood Vessels Market Report, Artificial Blood Vessels Market Share, Artificial Blood Vessels Market Size, Artificial Blood Vessels Market Trend
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Global artificial blood vessels market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 5% during the forecast period (2021-2027). Artificial Blood Vessels are tubes made up of various synthetic materials that are mainly used to substitute damaged blood vessels which may result in fatality. Biopolymers such as polydioxanone and polyethylene terephthalate are more commonly used for making artificial blood vessels owing to their mechanical properties like high resistance against water and chemical, high oxygen permeability, and high conductivity.
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The global artificial blood vessels market is anticipated to witness an uptick with the development of social society leading to changes in diet and other lifestyles. This along with the rapidly growing aging population across the globe is causing an increase in the number of patients having cardiovascular diseases and arteriosclerosis. Around 18 million Americans aged 20 and above have heart disease and nearly 650,000 Americans die of heart disease each year. Moreover, the most common cause of death caused due to cardiovascular diseases is the narrowing or blockage of blood vessels. Also, around 85,000 vascular reconstruction surgeries are performed across the globe annually. Owing to these glaring statistics the demand for artificial blood vessels is anticipated to grow in the forthcoming years. Furthermore, the advancement in technology, increasing demand for minimally invasive procedures, and various benefits associated with the use of artificial blood vessels have also led to the growing adoption of artificial blood vessels.
Based on polymer type, the market is segmented into polydioxanone, elastomer, polyethylene terephthalate, and others. The polyethylene terephthalate segment grabbed an XX% share of the global artificial blood vessels market and will witness a considerable CAGR of XX% during the forecast period (2021-2027F) as these are biostable polymers that are currently being used as the standard biomaterials for vascular grafts in various clinical applications.
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Based on the application, the global artificial blood vessels market is segmented into aortic disease, peripheral artery disease, and hemodialysis. The aortic disease segment occupied a substantial share and is expected to grow at a CAGR of XX% during the forecast period 2021-2027 owing to the increasing prevalence of various medical conditions and diseases that can cause damage to the aorta and put patients at life-threatening risk. However, the hemodialysis segment is also expected to grow considerably during the projected timeframe.
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Additionally, the report provides detailed report also provides insights into the global artificial blood vessels market according to the regions such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of USD XX billion in 2020 owing to the well-established market players and increasing geriatric population.
B. Braun Melsungen, Becton, Dickinson and Company, Cook Medical Incorporated, Medtronic, LeMaitre Vascular Inc., Terumo Medical Corporation, W. L. Gore and Associates, Jotec GmbH, Humacyte Inc., Techshot Inc., are some of the key players operating in the global artificial blood vessels market. Several M&As along with partnerships have been undertaken by these players to develop new products.
Global Artificial Blood Vessels Market Segmentation
Market Insight, by Polymer Type
- Polyethylene Terephthalate
Market Insight, by Application
- Aortic Disease
- Peripheral Artery Disease
Market Insight, by End-Users
- Cardiac Catheterization Laboratories
- Ambulatory Surgical Centers
- Specialty Clinics
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- B. Braun Melsungen
- Becton, Dickinson and Company
- Cook Medical Incorporated
- LeMaitre Vascular Inc.
- Terumo Medical Corporation
- W. L. Gore and Associates
- Jotec GmbH
- Humacyte Inc.
- Techshot Inc.