The global market size for vascular grafts market was USD 3.53 billion in 2022 and is projected to reach USD 6.73 billion by 2032, reflecting a significant revenue Compound Annual Growth Rate (CAGR) of 7.2% over the forecast period. The robust growth in market revenue is attributed to key factors, including the escalating prevalence of vascular illnesses and disorders, a growing geriatric population, and an increasing demand for minimally invasive surgical procedures.
According to the World Health Organization (WHO), Cardiovascular Diseases (CVDs) are anticipated to cause 17.9 million deaths in 2019, making them the leading cause of mortality globally. The imperative for vascular grafts is on the rise due to the heightened susceptibility of the older population to vascular conditions such as atherosclerosis, Peripheral Artery Disease (PAD), and aneurysms.
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Competitive Landscape:
Vascular grafts are medical devices that are used to replace or repair damaged blood vessels in the human body. The global vascular graft market is highly competitive, with a number of large and medium-sized players accounting for a majority of market revenue. Major players are deploying various strategies, including entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective products.
Some major companies included in the global vascular graft market report are:
Medtronic
Cook Medical
Endologix
Getinge AB
L. Gore & Associates
LeMaitre Vascular, Inc.
Braun Melsungen AG
Terumo Corporation
Vascutek Ltd.
CryoLife, Inc.
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Key Factors
Market Size and Growth: Highlight the current market size (USD 3.53 billion in 2022) and the projected growth, with an expected reach of USD 6.73 billion by 2032, indicating a substantial revenue Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period.
Prevalence of Vascular Illnesses: Emphasize the increasing incidence of vascular illnesses and disorders as a primary driver for the growth of the vascular graft market. This includes conditions such as atherosclerosis, Peripheral Artery Disease (PAD), and aneurysms.
Aging Population: Discuss the impact of a growing geriatric population on the demand for vascular grafts, considering the older demographic's increased vulnerability to vascular conditions.
Minimally Invasive Surgical Procedures: Highlight the rising demand for minimally invasive surgical procedures as a key factor influencing the vascular graft market, reflecting a broader trend in medical interventions.
Global Cardiovascular Disease Statistics: Reference statistics from the World Health Organization (WHO) indicating that Cardiovascular Diseases (CVDs) are a leading cause of mortality worldwide, contributing to the need for vascular grafts.
Increased Vulnerability of Older Population: Discuss how the aging population is more susceptible to vascular conditions, contributing to the growing demand for vascular grafts as a crucial medical intervention.
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