The global vascular patches market is poised for significant growth over the next decade, with projections indicating a robust 5.8% CAGR between 2021 and 2031. According to a recent report by Future Market Insights (FMI), the market, valued at approximately USD 136.9 million in 2021, is forecasted to reach USD 241.4 million by 2031.
Key findings from the report highlight the dominance of biologic vascular patches, which accounted for 52.9% of the market share in 2020. This growth trajectory is attributed to the escalating prevalence of cardiovascular diseases worldwide, necessitating effective revascularization methods.
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The world’s supply of premium patch products is assisting in meeting the unmet demand for cardiological therapy. The rising prevalence of cardiovascular diseases is largely due to lifestyle modifications such physical inactivity, cigarette use and smoking, and poor diets.
The development of cardiac care, which has improved diagnostic methods and management and increased life expectancy, is another factor driving the market for vascular patches. Key market players are concentrating on creating unique goods employing biologic resources already in existence and patented treatments.
Vascular patches are being used by major healthcare institutions all over the world more frequently to treat undesirable situations including organ failure and stroke in cardiac cases through surgical management. These dynamic variables are propelling the global vascular patches market’s expansion and are anticipated to encourage more developments everywhere.
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.
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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.
Key Companies Profiled:
- Braile Biomedica
- Baxter International
- Getinge Ab (Maquet)
- B. Braun Melsungen AG
- W. L. Gore & Associates
- Admedus
- Cryolife
- Edwards Lifesciences
- Labcor Laboratórios
- Terumo Corporation
- BiOTECK
- Lab Medica
- Tissuemed
- InSitu Technologies
- LeMaitre Vascular, Inc.
- Becton, Dickinson, and Company
- CARITAS.
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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 (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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