The global market demand for vascular patches is projected to rise by 5.8% between 2021 and 2031, with the market value expected to reach around US$ 136.9 million in 2021 and US$ 241.4 million by 2031, according to Future Market Insights (FMI). In 2020, biologic vascular patches held the largest share (52.9%) of the global market by materials.
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The prevalence of cardiovascular diseases is increasing globally, which is driving the demand for vascular patches as an effective means of revascularization. This has opened up new revenue streams for biopharmaceutical and pharmaceutical companies. Advances in cardiac therapeutic technology have also boosted the adoption of vascular patches.
The availability of high-quality patch products worldwide is helping to address the unmet needs for cardiological treatments. Lifestyle changes such as physical inactivity, tobacco consumption and smoking, and unhealthy diets are major contributors to the growing burden of cardiovascular diseases.
The growth of the vascular patches market is further fueled by advancements in cardiac management, which has improved diagnostic approaches and management, thereby increasing life expectancy. Key market players are focusing on developing novel products using existing biologic resources and patented therapies.
Major healthcare facilities worldwide are increasingly adopting vascular patches to address adverse conditions such as organ failure and stroke in cardiac cases through surgical management. These dynamic factors are driving the growth of the global vascular patches market and are expected to lead to further advancements globally.
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Key Takeaways from Market Study
- Synthetic patches are expected to hold over 52.2% market value share by the end of 2031.
- Peripheral vascular diseases are expected to hold a higher share of around 30.9% in 2031 in terms of application.
- Hospitals are expected to hold the largest share of 45.0% in 2031 in terms of end user.
- North America is slated to remain dominant, accounting for 36.2% of the overall sales through the end of the forecast period.
“Recent developments in cardiac surgery, coupled with focus on ensuring greater accuracy, precision, and efficiency are set to boost the sales of vascular patches worldwide,” says an analyst of Future Market Insights.
Market Competition
The key players are focusing on delivering effective treatment lines to their patients, ensuring the right treatment for the right patient at the right time. Manufacturers are actively working in coherence with researchers in order to be able to acquire enhanced and innovative concepts to widen the therapeutic actions of the product that drive their research capabilities and strengthen their product portfolio.
- On September 25, 2020, Getinge signed a partnership agreement with Universeum. Getinge supported Universeum for innovation as well as contributing to social development with a strong focus on health.
- On May 21-24, 2019, Rafael Braile (Executive Director) and Dr. Diego Gaia (Cardiovascular Surgeon) of Braile Biomedica presented a new unique product, Endobentall, at the Euro PCR event held in Paris, France.
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Regionally, North America holds the largest share of the global vascular patch market, owing to the well-established healthcare infrastructure, the high prevalence of cardiovascular diseases, and the presence of major players in the region. Europe is the second-largest market for vascular patches, owing to the increasing adoption of advanced medical technologies, favorable reimbursement policies, and rising healthcare expenditure.
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Key Market Segments Covered in Vascular Patches Industry Research
By Material:
- Synthetic vascular patches
- Biologic vascular patches
By Application:
- Carotid Endarterectomy
- Open Repair of Abdominal Aneurysm
- Vascular bypass Surgery
- Peripheral vascular reconstruction
- Others
By End User:
- Hospitals
- Trauma Care Centers
- Academic & Research Institutes
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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