The Hybrid Grafts Market is experiencing a period of significant growth, fueled by advancements in vascular repair techniques. A recent analysis by Future Market Insights (FMI), a leading market research firm, reveals the market held an estimated valuation of US$517.3 million at the close of 2022. Looking ahead, FMI projects a steady Compound Annual Growth Rate (CAGR) of 5.20% from 2022 to 2032. This positive outlook signifies the market’s potential to reach an impressive US$858.7 million by the conclusion of the forecast period.
The driving force behind this remarkable expansion lies in the escalating global risk of cardiovascular diseases. Unhealthy lifestyle choices and the increasing incidence of obesity are identified as key factors propelling the growth of the hybrid grafts market in the years to come.
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The number of cases of chronic ascending aortic dissections has increased dramatically across the globe, which would bolster growth. Additionally, key players are focusing on novel product development with enhanced efficacy in terms of environmental stability, protection from infections, and durability.
For instance, BD Interventional introduced Distaflo, which is designed with ePTFE with carbon impregnated into the inner portions of the graft wall. The graft is also modified with a proprietary cuff at the distal end, according to BD.
Key Takeaways: Hybrid Grafts Market
- Based on product, the thoracic aortic graft segment held approximately 78.2% of the share in 2021 and will dominate the global hybrid grafts market by 2032.
- By end user, the hospitals segment is expected to lead the global hybrid grafts market and showcase a CAGR of 5.9% during the forecast period.
- North American hybrid grafts market is anticipated to generate a share of 42.1% in 2021 and is estimated to lead throughout the forthcoming years.
- China is set to hold a market share of nearly 3.8% in 2032 with the expansion of the healthcare industry.
- The German hybrid grafts market held a share of 3.5% in 2021 and is set to remain at the forefront during the evaluation period.
“Rising use of minimally invasive devices in medical procedures is set to drive the hybrid grafts market. Besides, increasing number of cardiac and vascular surgeries is anticipated to push demand for hybrid grafts to reduce surgical site complications,” says a FMI analyst.
Hybrid Grafts Market Competition
The market for hybrid grafts is moderately fragmented and there exists a large number of local, emerging, as well as established players across the globe. Key players are initiating promotional activities to introduce new designs to attract more customers. A few other companies are engaging in collaborations and expansion activities to develop innovative products.
- In October 2021, Terumo joined hands with Cell Technologies to open a new manufacturing facility in Costa Rica which will help to broaden its supply chain around the globe.
- In May 2022, Getinge invested 3 million Euros to expand its manufacturing capacity of polyester grafts and patches for the treatment of aneurysmal and occlusive diseases. The investment would help the company to surge the manufacturing capacity in its site in La Ciotat, France.
More Valuable Insights on the Hybrid Grafts Market
Future Market Insights offers a unique perspective and actionable insights on the hybrid grafts market in its latest study, presenting a historical demand assessment of 2017 to 2021 and projections for 2022 to 2032.
The research study is based on the product (thoracic aortic graft and peripheral vascular graft) and end-user (hospitals and ambulatory surgical centers), across seven key regions of the world.
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Hybrid Grafts Market Outlook by Category
By Product:
- Thoracic Aortic Graft
- Peripheral Vascular Graft
By End User:
- Hospitals
- Ambulatory Surgical Centers
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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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