During the time frame of the forecast, the vascular patch market is expected to grow at a CAGR of 7.4%.
COVID-19 impacted the growth of the vascular patch market owing to the decreased number of vascular surgeries due to the restrictions imposed by the government to avoid the spread of coronavirus. For instance, according to an article published in Frontiers in Surgery, in August 2022, there was a 34.51% decrease in the surgical procedures reported in central Romania during a pandemic, with a disproportionate 80.6% decrease in the number of cases admitted with a diagnosis of venous insufficiency and an increase of 67.21% in the number of patients admitted with acute arterial ischemia. Also, as per the data published by the Society of Thoracic Surgeons, in April 2021, about a 52.7% reduction in adult cardiac surgery volume and a 65.5% reduction in elective cases were reported in the United States. This has impacted the demand for vascular patches during the pandemic period. However, the resumed vascular surgical procedures and the high risk of developing atherosclerosis in COVID-19 patients have increased the number of surgeries performed. For instance, as per a research study published in PLOS One in April 2021, COVID-19 could increase the development of atherosclerosis due to ACE2, which is also a receptor for the Sars-CoV-2 virus. Hence, increasing COVID-19 could increase the development of atherosclerosis, which would fuel the demand for surgery. This is anticipated to increase the demand for vascular patches, which in turn is anticipated to fuel market growth in the post-pandemic era.
Over the next few years, the market is expected to grow because of things like the growing number of older people, the rise in vascular diseases, and the growing use of biological patches.
The market is also growing because people are living longer, which makes them more likely to get vascular diseases.For instance, according to an article published in the Cell Journal in May 2022, it has been observed that atherosclerosis is primarily a disease of the elderly, and most myocardial infarctions and strokes occur in the population aged 55 years or older. Also, as per an article published in Arteriosclerosis, Thrombosis, and Vascular Biology in May 2021, it has been observed that the prevalence of peripheral artery disease (PAD) is higher in women than in men. In addition, men aged 85 years or older have a higher prevalence of PAD as compared to men aged 55 to 59 years. Thus, the high burden of atherosclerosis and PAD among the aging population requires cardiac surgeries. This is likely to make more people want to use vascular patches, which will help the market grow.
Additionally, the growing burden of vascular diseases among the population is expected to increase the demand for surgeries and effective treatment, which is also contributing to market growth. According to WHO data, an estimated 1.28 billion adults worldwide aged 30-79 years had hypertension in August 2021, with the majority (two-thirds) living in low- and middle-income countries, and 46% unaware that they had the condition.Thus, a large number of people living with hypertension are at high risk of developing myocardial infarction, stroke, and peripheral vascular disease due to functional changes in blood vessels and the myocardium (left ventricular hypertrophy). This is likely to boost market growth.
The increasing number of research and development activities in the manufacturing of vascular patches is also significantly improving the growth of the market. For instance, as per an article published in the Materials Today Bio Journal in April 2022, the innovative hybrid 3D printing biotechnology has the potential for broad application in regenerative medicine and potentially in heart disease prevention. Researchers think that these kinds of studies will speed up the development of more advanced vascular patches, which will help the market grow.
Furthermore, rising company activities in developing effective vascular patches and increasing product launches are also expected to fuel market growth. For example, Terumo Corporation started a global surgical graft study called PANTHER in September 2021. This was a prospective and retrospective study of a wide range of knitted and woven surgical grafts and cardiovascular patches.
Therefore, owing to the aforementioned factors, the studied market is expected to grow over the forecast period. But the risk of an immune response and serious complications, as well as product failures and recalls, are likely to slow the growth of the vascular patch market over the next few years.
Aortic aneurysms are bulges that resemble balloons in the aorta, the major artery that delivers blood from the heart through the chest and body. A pseudoaneurysm of the ascending aorta is a rare but potentially fatal complication after cardiovascular surgery, and it can result in a rupture. A small, localized saccular pseudoaneurysm of the aorta is often treated with patch repair rather than tube graft replacement.
The increasing burden of atherosclerosis and aortic aneurysm among the population is the key factor driving segment growth. For instance, according to the data published by the NHS United Kingdom in April 2022, about 1,542 aneurysms were reported in the United Kingdom in 2021.
Additionally, the increasing aging population is more likely to develop vascular diseases, which are also contributing to segment growth. For instance, the data published in October 2021 by the WHO reported that population aging is much faster than in the past. By 2030, one in six people worldwide is expected to be 60 years of age or older. Thus, the share of the population aged 60 and over is projected to increase from 1 billion in 2020 to 1.4 billion by 2030 and 2.1 billion by 2050. Therefore, it is anticipated that the market will grow over the forecast period due to the rising geriatric population.
Therefore, owing to the aforementioned factors, such as the increasing burden of aortic aneurysms and the rising aging population globally, the studied segment is expected to grow over the forecast period.
The increasing funding for atherosclerosis in the region is expected to accelerate the development of vascular patches and increase the company’s focus on developing advanced products, hence boosting market growth. For instance, as per the data published by the NIH, in May 2022, about USD 413 million was funded for atherosclerosis 2021, and an estimated USD 430 million is allocated in 2022 for research and disease-related studies, with an expectation that this funding will reach USD 432 million by 2023.
Furthermore, the growing prevalence of cardiovascular diseases and their associated factors such as diabetes also increases the risk of developing stroke, PAD, cerebrovascular disease, and others that require surgical procedures, hence bolstering the market's growth. For instance, as per 2022 statistics published by the IDF, about 14.1 million people in Mexico were living with diabetes in 2021, and this number is projected to reach 17 million by 2030 and 21.1 million by 2045. As per the same source, about 32 million people in the United States and 2.9 million people in Canada were living with diabetes in 2021, and this number is projected to reach 36.2 million and 3.4 million by 2045, respectively. Thus, the increasing burden of diabetes may lead to a rise in cardiovascular complications, thus increasing the demand for cardiac surgeries. This is anticipated to increase the demand for effective cardiac patches, hence bolstering market growth.
Therefore, due to factors such as the rising burden of CVD and diabetes and growing funding, the studied market is expected to grow over the forecast period.
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COVID-19 impacted the growth of the vascular patch market owing to the decreased number of vascular surgeries due to the restrictions imposed by the government to avoid the spread of coronavirus. For instance, according to an article published in Frontiers in Surgery, in August 2022, there was a 34.51% decrease in the surgical procedures reported in central Romania during a pandemic, with a disproportionate 80.6% decrease in the number of cases admitted with a diagnosis of venous insufficiency and an increase of 67.21% in the number of patients admitted with acute arterial ischemia. Also, as per the data published by the Society of Thoracic Surgeons, in April 2021, about a 52.7% reduction in adult cardiac surgery volume and a 65.5% reduction in elective cases were reported in the United States. This has impacted the demand for vascular patches during the pandemic period. However, the resumed vascular surgical procedures and the high risk of developing atherosclerosis in COVID-19 patients have increased the number of surgeries performed. For instance, as per a research study published in PLOS One in April 2021, COVID-19 could increase the development of atherosclerosis due to ACE2, which is also a receptor for the Sars-CoV-2 virus. Hence, increasing COVID-19 could increase the development of atherosclerosis, which would fuel the demand for surgery. This is anticipated to increase the demand for vascular patches, which in turn is anticipated to fuel market growth in the post-pandemic era.
Over the next few years, the market is expected to grow because of things like the growing number of older people, the rise in vascular diseases, and the growing use of biological patches.
The market is also growing because people are living longer, which makes them more likely to get vascular diseases.For instance, according to an article published in the Cell Journal in May 2022, it has been observed that atherosclerosis is primarily a disease of the elderly, and most myocardial infarctions and strokes occur in the population aged 55 years or older. Also, as per an article published in Arteriosclerosis, Thrombosis, and Vascular Biology in May 2021, it has been observed that the prevalence of peripheral artery disease (PAD) is higher in women than in men. In addition, men aged 85 years or older have a higher prevalence of PAD as compared to men aged 55 to 59 years. Thus, the high burden of atherosclerosis and PAD among the aging population requires cardiac surgeries. This is likely to make more people want to use vascular patches, which will help the market grow.
Additionally, the growing burden of vascular diseases among the population is expected to increase the demand for surgeries and effective treatment, which is also contributing to market growth. According to WHO data, an estimated 1.28 billion adults worldwide aged 30-79 years had hypertension in August 2021, with the majority (two-thirds) living in low- and middle-income countries, and 46% unaware that they had the condition.Thus, a large number of people living with hypertension are at high risk of developing myocardial infarction, stroke, and peripheral vascular disease due to functional changes in blood vessels and the myocardium (left ventricular hypertrophy). This is likely to boost market growth.
The increasing number of research and development activities in the manufacturing of vascular patches is also significantly improving the growth of the market. For instance, as per an article published in the Materials Today Bio Journal in April 2022, the innovative hybrid 3D printing biotechnology has the potential for broad application in regenerative medicine and potentially in heart disease prevention. Researchers think that these kinds of studies will speed up the development of more advanced vascular patches, which will help the market grow.
Furthermore, rising company activities in developing effective vascular patches and increasing product launches are also expected to fuel market growth. For example, Terumo Corporation started a global surgical graft study called PANTHER in September 2021. This was a prospective and retrospective study of a wide range of knitted and woven surgical grafts and cardiovascular patches.
Therefore, owing to the aforementioned factors, the studied market is expected to grow over the forecast period. But the risk of an immune response and serious complications, as well as product failures and recalls, are likely to slow the growth of the vascular patch market over the next few years.
Vascular Patch Market Trends
Aortic Aneurysms Segment Expects to Register a Significant Growth Over the Forecast Period
The aortic aneurysm segment is expected to witness significant growth in the vascular patches market over the forecast period. The factors contributing to segment growth are the rising burden of vascular diseases such as atherosclerosis, the rising geriatric population, and the growing demand for minimally invasive procedures.Aortic aneurysms are bulges that resemble balloons in the aorta, the major artery that delivers blood from the heart through the chest and body. A pseudoaneurysm of the ascending aorta is a rare but potentially fatal complication after cardiovascular surgery, and it can result in a rupture. A small, localized saccular pseudoaneurysm of the aorta is often treated with patch repair rather than tube graft replacement.
The increasing burden of atherosclerosis and aortic aneurysm among the population is the key factor driving segment growth. For instance, according to the data published by the NHS United Kingdom in April 2022, about 1,542 aneurysms were reported in the United Kingdom in 2021.
Additionally, the increasing aging population is more likely to develop vascular diseases, which are also contributing to segment growth. For instance, the data published in October 2021 by the WHO reported that population aging is much faster than in the past. By 2030, one in six people worldwide is expected to be 60 years of age or older. Thus, the share of the population aged 60 and over is projected to increase from 1 billion in 2020 to 1.4 billion by 2030 and 2.1 billion by 2050. Therefore, it is anticipated that the market will grow over the forecast period due to the rising geriatric population.
Therefore, owing to the aforementioned factors, such as the increasing burden of aortic aneurysms and the rising aging population globally, the studied segment is expected to grow over the forecast period.
North America is Expected to Witness Significant Growth in the Forecast Period
North America is expected to hold a significant share of the overall vascular patch market throughout the forecast period owing to factors such as the growing prevalence of vascular diseases. In addition, healthcare expenditure is on the rise in the United States, which creates new opportunities for the innovation of advanced vascular patches and increases their availability on the market, thereby propelling market growth. According to OECD data, healthcare spending in the United States in June 2022 was 17.8% of the country's total gross domestic product (GDP) in 2021.The increasing funding for atherosclerosis in the region is expected to accelerate the development of vascular patches and increase the company’s focus on developing advanced products, hence boosting market growth. For instance, as per the data published by the NIH, in May 2022, about USD 413 million was funded for atherosclerosis 2021, and an estimated USD 430 million is allocated in 2022 for research and disease-related studies, with an expectation that this funding will reach USD 432 million by 2023.
Furthermore, the growing prevalence of cardiovascular diseases and their associated factors such as diabetes also increases the risk of developing stroke, PAD, cerebrovascular disease, and others that require surgical procedures, hence bolstering the market's growth. For instance, as per 2022 statistics published by the IDF, about 14.1 million people in Mexico were living with diabetes in 2021, and this number is projected to reach 17 million by 2030 and 21.1 million by 2045. As per the same source, about 32 million people in the United States and 2.9 million people in Canada were living with diabetes in 2021, and this number is projected to reach 36.2 million and 3.4 million by 2045, respectively. Thus, the increasing burden of diabetes may lead to a rise in cardiovascular complications, thus increasing the demand for cardiac surgeries. This is anticipated to increase the demand for effective cardiac patches, hence bolstering market growth.
Therefore, due to factors such as the rising burden of CVD and diabetes and growing funding, the studied market is expected to grow over the forecast period.
Vascular Patch Market Competitor Analysis
The vascular patch market is highly competitive and consists of several major players. the presence of major market players, such as Terumo Corporation, Baxter International, Getinge AB (Maquet), Baxter International, Inc., B. Braun SE, Edwards Lifesciences Corporation, and Becton, Dickinson, and Company, among others.Additional benefits of purchasing the report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market Size by Value - USD million)
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Lemaitre Vascular
- Baxter International
- Getinge AB
- B. Braun SE
- W. L. Gore & Associates
- Artivion
- Edwards Lifesciences
- Terumo Corporation
- Vascumed (Pty) Ltd
- Celox Medical
- Collagen Solutions Plc
- FOC Medical S.A.
- Obex
Methodology
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