According to the author, the global synthetic artificial blood vessels market is expected to be worth US$ US$319.4 Mn by 2026 from US$296.8 Mn in 2021. During the forecast years of 2021 and 2026, the global market for synthetic artificial blood vessels is poised to register a CAGR of 5.7%.
The global synthetic artificial blood vessels market is slated to see a steadily rising demand as cardiovascular diseases (CVDs) continue to be on the rise. About 85,000 vascular reconstruction surgeries are performed globally every year. Furthermore, CVDs that lead to narrowing or blockage of blood vessels remains the leading cause of death. These glaring statistics are expected to drive the demand for synthetic artificial blood vessels are sophistication in technology makes them a life-saving tool.
Key Insights Into Global Synthetic Artificial Blood Vessels Market:
The expanded polytetrafluoroethylene (ePTFE) vascular grafts are mainly used for applications in the peripheral circulatory system and contributes to 48% of the global market.
Aortic disease eyes higher CAGR than hemodialysis and peripheral artery disease, 6.0% in terms of value; as big companies are targeting aortic therapy areas aggressively with strategic collaborations. although hemodialysis will maintain its dominant market position with a 49% market share in 2026.
Specialty clinics and ambulatory surgical centers (ASCs) are anticipated to gain 50 BPS each in terms of value market share by the end of forecast period.
Although hospitals will maintain their dominant market position with a 56% market share in 2026.
North America to hold the largest chunk of the regional segment with more than 30% market share in 2021.
Investments in Research and Development Offer Superior Products
The ongoing research and development to make superior synthetic artificial blood vessels are expected to introduce better outcomes for patients in the coming years. The bioengineered blood vessels that can be successfully implanted into human beings have become self-healing tubes that carry blood effortlessly, allowing better quality of life.
The report indicates that research could open doors to the application of synthetic blood vessels in complicated procedures such as wound healing and high-risk surgeries. Synthetic blood vessels are expected to play a critical role in giving patients on haemodialysis a new lease on life during the forecast period. As renal complications remain on the rise, these bioengineered vessels will find a lucrative area of application.
North America to Create Lucrative Opportunities for Synthetic Blood Vessels Market
According to the author, the global synthetic blood vessels market will be dominated by North America. By the end of 2026, North America will reach a valuation of US$120.9 Mn. The growing research and development of biomaterials, technological advancements and quick uptake, well-established diagnostic procedures, and reimbursement policies are expected to fuel the growth of this market during the forecast period.
Meanwhile, Europe is will a remarkable pace of growth as the region has a considerable size of the ageing population who are likely to need synthetic blood vessels as complications due to kidney failures, aortic disease, and other health issues arise.
Some of the key players operating in the global synthetic artificial blood vessels market are Terumo Aortic (Terumo Group), B. Braun Melsungen AG, LeMaitre Vascular, Inc., Humacyte, Inc., JOTEC GmbH, Cook Medical Inc., Bard Peripheral Vascular, and W. L. Gore and Associates.
7. Rest of World Synthetic Artificial Blood Vessels Market Outlook, 2018 - 2026
8. Competitive Landscape 8.1. Market Share Analysis, 2021 8.2. Company Profiles 8.2.1. B. Braun Melsungen AG 8.2.1.1. Company overview 8.2.1.2. Financial performance 8.2.1.3. Product Pipeline 8.2.1.4. Recent Developments 8.2.2. Terumo Aortic (Terumo Group) 8.2.3. Humacyte, Inc. 8.2.4. LeMaitre Vascular, Inc. 8.2.5. W. L. Gore and Associates 8.2.6. JOTEC GmbH 8.2.7. Cook Medical Inc. 8.2.8. Bard Peripheral Vascular
