The Global Vascular Patches Market has been estimated to reach USD 423.3 million in 2021 and it is projected to grow at a CAGR of 8.3% during the forecast period, as per the recent study report published by Quince Market Insights. According to the world health organization (WHO), in 2019, around 17.9 million people died from cardiovascular diseases of which 85% were due to heart attack and stroke. These factors are augmenting the demand for treatments such as coronary artery bypass graft surgery, heart valve surgery, and other heart surgeries that require vascular patches.
Factors like increasing prevalence of vascular diseases, growing adoption of biological patches, and increasing number of vascular surgeries is driving the market growth during the forecast period. Vascular patches considered to have excellent biocompatibility and long-term mechanical stability. It can be synthetic or biological patches. The patches have elastic material, which ensures minimum suture hole bleeding and has microporous structure that allows better tissue incorporation.
Cardiac and vascular surgery centers are not widely available in many developing countries. Thus, patients in these countries have no choice but to live in morbid conditions. Factors such as tobacco consumption, poor diet, and cardiovascular diseases in developing countries are leading causes that can create opportunities for the market.
Furthermore, growth in life expectancy and aging populations are also important factors that can contribute to market growth in the coming years. Collaborative efforts from local governments, private & public organizations, and international organizations to provide vascular and cardiac care treatments in developing countries will open opportunities for the vascular patches market during the forecast period.
Global Vascular Patches Market, by Material
Based on material, the market is divided into synthetic vascular patches and biological vascular patches. The synthetic vascular patches segment is estimated to be the fastest growing segment during the forecast period. Synthetic materials for vascular patches, such as polyethylene terephthalate or polytetrafluoroethylene (PTFE), are ready to use, have a long shelf-life, high biomechanical strength and may involve lower risk of patch rupture. However, synthetic materials confer greater risk of infection than biologic patches, but the costs of synthetic patches are generally less than comparably sized biologic patches. All these abovementioned factors will boost the market growth during the forecast period.
Global Vascular Patches Market, by Application
Based on application, the market is divided into open repair of abdominal aortic aneurysms, vascular bypass surgery, carotid endarterectomy, and others. The open repair of abdominal aortic aneurysms segment is estimated to be the fastest growing segment during the forecast period. Open repair of abdominal aortic aneurysm has proven to be secure, broadly available, effective in protecting aneurysm rupture, and significantly durable. Open repair of abdominal aortic aneurysm is conducted under general anesthesia with suitable controlling of volume status and fluid administration and transfusion, as required.
A cylinder like tube called graft is utilized to repair the aneurysm. Grafts are made of different materials like Dacron (textile polyester synthetic graft) and polytetrafluoroethylene (PTFE, non textile synthetic graft). Synthetic graft is utilized in this procedure and graft is made of up of bovine pericardium. The tube grafts have wider applications in open repair of abdominal aortic aneurysms procedure in the form of pericardial patches. The preparation of the pericardial tube graft is performed by tailoring a large bovine pericardial patch as per the desired size for aortic reconstruction. The factor that contributes to the segment growth is the usage of bovine pericardial patch for the preparation of pericardial tube graft which is helpful for vascular reconstruction in infected areas for transplant recipients.
Global Vascular Patches Market, by End User
Based on end user, the market is segmented as ambulatory surgical centers, clinics, and hospitals. The ambulatory surgical centers segment is anticipated to be the fastest-growing segment during the predicted period. Ambulatory surgery centers (ASCs) is a new healthcare facility aimed at offering same-day surgical treatment, including diagnostic and preventative procedures, described by the ambulatory surgical center association. These services are offered to patients, who need surgical or diagnostic services with reduced timelines and recovery period. A well-run ASC can save surgeons several hours per day and allow them to perform more surgeries efficiently.
ASCs also have quicker access to emerging technologies. Ambulatory surgery centers are becoming increasingly common due to their convenience, proximity, and lower costs to patients and insurers. Thus, these factors will boost the demand for vascular patches in these centers and hence will drive the market growth over the forecast period.
Global Vascular Patches Market, by Region
Based on the region, the market is divided into Europe, North America, Asia Pacific, Middle East & Africa, and South America. Asia Pacific is anticipated to be the fastest growing region in the market during the predicted period. Asia Pacific comprises China, Japan, India, South Korea, Australia, and Rest of Asia Pacific. With strong business prospects in the Asia Pacific, companies are concentrating on broadening product portfolios, expand business operations, reduce prices, end user satisfaction, and enhance vascular patches reliability. Growing vascular surgeries and minimally invasive surgeries needs vascular patches in the region, which in turn, is driving the Asia Pacific market.
In China, rapidly growing aging population suffering from cardiovascular disease is the major factor contributing to the development of the market. In the Japan, increasing adoption of biological patches in different vascular diseases such as carotid artery stenosis and periphery artery disease fuels the market development.
As per the report by the press information bureau of (Government of India), India has one of the highest records of cardiovascular disease globally. The annual number of deaths from cardiovascular disease in India was estimated to increase from 2.26 million in 1990 to 4.77 million in 2020. Thus, increasing prevalence of disease in the nation leads to higher rate of cardiac surgeries, augmenting the demand for vascular patches.
Major Developments Observed in the Global Vascular Patches Market in Recent Times
Highlights of the Vascular Patches Market Analysis include:
By End User