As per Future Market Insights’ revised industry analysis, the global Vascular Patches Market was valued at over US$ 136.9 Million in 2021 and is expected to exhibit a CAGR of 5.8% over the forecast period (2021 to 2031).
There is a global increase in the prevalence of cardiovascular diseases. The rising prevalence of cardiac disorders will boost the vascular patches market. Vascular patches have emerged as a new avenue for revenue generation for biopharmaceutical and pharmaceutical companies. Increasing technological advancements within the cardiac therapeutic sphere have assisted the soaring adoption of vascular patches for revascularization as effective means for therapeutic usage of vascular patches.
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The unmet needs for cardiological treatments are addressed by the growing availability of high-quality patch products worldwide. Increasing lifestyle changes such as physical inactivity, tobacco consumption and smoking, as well as an unhealthy diet are prime factors responsible for the growing burden of cardiovascular diseases.
The emergence of cardiac management has advanced the diagnostic approach to increase life expectancy as well as management, thus propelling the growth of the vascular patches market.
Key players active within the market are focusing on the development of novel products using existing biologic resources for innovative product identification, as well as the provision of patented therapies. Furthermore, the occurrence of adverse conditions such as organ failure and stroke in cardiac cases through the process of surgical management has motivated the adoption of vascular patches among major healthcare facilities over the globe.
These aspects display the dynamic factors at play within the global vascular patches market, promoting its growth and assuming necessary advancements globally.
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 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
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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