At a CAGR of 7%, Vascular Patches Market to Surpass US$ 7,665.5 Million Globally by End of 2027, Says Coherent Market Insights (CMI)

According to Coherent Market Insights, the global vascular patches market is estimated to be valued at US$ 4,778.33 million in 2020 and is expected to exhibit a CAGR of 7.0% during the forecast period (2020-2027).

Key Trends and Analysis of the Global Vascular Patches Market:

Key trends in the market include increasing geriatric population, rising cases of cardiovascular diseases, launches of novel products, and adoption of inorganic strategies by key players.

Market players are focusing on launching new products, which is expected to drive the market growth. For instance, in November 2018, CorMatrix Cardiovascular Inc., a medical device company engaged in developing biomaterial devices, received the U.S. Food and Drug Administration (U.S. FDA) approval to commercialize its CorMatrix extracellular matrix (ECM) for vascular repair. The product is intended to use for repair and reconstruction of peripheral vasculature and patch closure of vessels to regenerate viable autogenous tissue.

However, product recalls in the market is expected to hinder the market growth. For instance, in June 2015, Baxter International Inc., a developer and manufacturer of medical devices, pharmaceuticals and biotechnology products, voluntarily recalled four product codes of its VASCU-GUARD, a peripheral vascular patch. The product is recalled Baxter due to received customer complaints of difficulty in distinguishing the smooth from rough surface of the VASCU-GUARD patch.

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Key Market Takeaways:

The global vascular patches market is expected to exhibit a CAGR of 7.0% during the forecast period, owing to rising cardiovascular diseases. For instance, according to an article published in the National Center for Biotechnology Information (NCBI), 2020, globally around 126 million people suffered from ischemic heart disease (1,655 per 100,000), which constituted to 1.72% of the total world population, in 2017.

Rising geriatric population in worldwide is expected to propel the market growth during the forecast period. For instance, according to an article published in the World Population Prospects: the 2019, by 2050, 1 in 6 people in the world will be over age 65 (16%), up from 1 in 11 in 2019 (9%).

Competitive Landscape:

Key players operating in the global vascular patches market include B. Braun Melsungen AG, C. R. Bard, Inc., LeMaitre Vascular, Inc., Getinge AB (Maquet), W. L. Gore & Associates, Inc., Edwards Lifesciences Corporation, Baxter International Inc., CryoLife, Inc., Medtronic, and Admedus, among others.

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Market Segmentation:

• Global Vascular Patches Market, By Type:
  • Biologic Vascular Patches
  • Synthetic Vascular Patches
• Global Vascular Patches Market, By Application:
  • Carotid Endarterectomy
  • Aortic Aneurysms
  • Profundaplasty
  • Others
• Global Vascular Patches Market, By End User:
  • Hospitals and Clinics
  • Ambulatory Surgical Centers
  • Others
• Global Vascular Patches Market, By Region:
  • North America
    • By Country:
      • U.S.
      • Canada
  • Latin America
    • By Country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Europe
    • By Country:
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country:
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Middle East
    • By Country:
      • GCC
      • Israel
      • Rest of Middle East
  • Africa
    • By Country/Region:
      • South Africa
      • Central Africa
      • North Africa

Related Market Intelligence Reports:

Neurovascular Devices Market, by Device Type (Embolization Coils (Platinum Coils, Coated Platinum Coils, and Liquid Embolic Coils), Neurovascular Stents (Carotid Artery Stents and Flow Diversion Stents), Neurothrombectomy Devices (Clot Retrievers, Aspiration/ Suction Devices, and Vascular Snares), Embolic Protection Devices (Distal Filter Devices and Balloon Occlusion Devices), and Neurovascular Supporting Devices (Microcatheters and Microguidewires)), by Therapeutic Application (Cerebral Aneurysms, Ischemic Stroke, Cerebral Artery Stenosis, Arteriovenous Malformations (AVMs) and AV Fistulas, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Read more: https://www.coherentmarketinsights.com/market-insight/neurovascular-devices-market-4224

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.