Artificial Blood Vessels Market

Artificial Blood Vessels Market Segmentation by Polymer (Polydioxanone, Elastomer, Polyethylene Terephthalate, and Others); and by Application (Aortic Disease, Peripheral Artery Disease, Hemodialysis, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Report ID: 3743 | Published On: Apr 24, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • November, 2021: B. Braun announced the start of a strategic partnership with REVA Medical for the distribution of Fantom Encore - a bioresorbable scaffold for coronary interventions. The scaffold is developed with REVA's patented material Tyrocore.
  • July, 2021: BD (Becton, Dickinson and Company) announced the acquisition of Tepha, Inc. This partnership provides additional innovation potential for accelerating the growth of BD's surgical mesh portfolio and pushes the company into potential new segments within soft tissue repair, reconstruction, and regeneration.

Global Artificial Blood Vessels Market Highlights over 2022 – 2030

The global artificial blood vessels market is estimated to grow at a CAGR of ~5.5% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing applications of artificial blood vessels in medical procedures, as artificial blood vessels are able to perform various biological functions observed in the natural blood vessels. Moreover, the development of technology in healthcare sector, backed by increasing R&D expenditure, is further estimated to boost the market growth. According to the World Health Organization statistics published in 2021, gross domestic R&D expenditure on health (health GERD) as a percentage of total GERD was highest in East Mediterranean with 14.8%, followed by Americas at 12.8% and South-East Asia at 12.4%.

Besides, the growing incidences of cardiovascular diseases globally is estimated to boost the demand for artificial blood vessels. The poor lifestyle prevalent amongst the masses, such as, poor dietary patterns, lack of exercise, obesity, smoking, and others, have a massive negative effect on blood vessels. This results in lifestyle diseases and disorders, such as, coronary artery diseases, stroke, hypertension, and heart attack. According to the data collected from the World Health Organization, cardiovascular diseases resulted in about 17.9 million deaths in 2019 accounting for 32% of the total number of deaths globally.

Artificial Blood Vessels Market Graph

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The market is segmented by polymers into polydioxanone, elastomer, polyethylene terephthalate, and others. Out of these the elastomer segment is anticipated to hold the largest share in the market over the forecast period as it is the most used polymer in the development of artificial blood vessels owing to the extraordinary mechanical properties of elastomers. Moreover, elastomers provide the capacity to design implants that match the compliance of native tissue, which is projected to boost the segment growth. 


Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure per Capita Graph

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.


Global Artificial Blood Vessels Market Regional Synopsis

On the basis of geographical analysis, the global artificial blood vessels market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of rapid increase in healthcare awareness, growing healthcare expenditure, and increasing income levels amongst all social classes. According to the World Bank data, the GDP per capita of population in the South Asia region surged from USD 453.238 in 2000 to USD 1,959.342 in 2019. Moreover, emergence of small market players in the region is projected to fuel the market growth.

The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the presence of advanced healthcare infrastructure, and high focus on medical R&D activities. Additionally, increasing incidence of aortic diseases in the region is further anticipated to boost the market growth. According to the data by the US Centers for Disease Control & Prevention (CDC), aortic dissections resulted in 9,904 deaths in 2019 in the country.

Artificial Blood Vessels Market Share Image

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The global artificial blood vessels market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook


Artificial Blood Vessels Market Graph
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Market Segmentation

Our in-depth analysis of the global artificial blood vessels market includes the following segments:

By Polymer

  • Polydioxanone
  • Elastomer
  • Polyethylene Terephthalate 
  • Others

By Application

  • Aortic Disease
  • Peripheral Artery Disease
  • Haemodialysis
  • Others


Growth Drivers
  • Increasing Incidences of Cardiovascular Diseases
  • Growing Adoption of Technology in Healthcare Sector

Challenges

  • Strict Regulatory Policies for Approval of Artificial Blood Vessels
  • High Costs Associated with Transplants and Surgeries


Healthcare Expenditure per Capita Graph
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Top Featured Companies Dominating the Market

    • W. L. Gore & Associates, Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • B. Braun Melsungen AG
    • Medtronic Plc
    • Cook Medical Incorporated
    • Becton, Dickinson and Company (BD)
    • Terumo Corporation
    • Humacyte, Inc.
    • JOTEC GmbH.
    • LeMaitre Vascular, Inc.
    • Techshot, Inc.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the artificial blood vessels market?

Ans: The increasing adoption of advanced technology in healthcare sector is anticipated to boost the market growth.

2) What would be the CAGR of artificial blood vessels market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~5.5% over the forecast period, i.e., 2022 – 2030.

3) What are the challenges affecting the artificial blood vessels market growth?

Ans: Stringent regulations for FDA approval of artificial blood vessels is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of artificial blood vessels market in future?

Ans: The market in the North America region is estimated to provide more business opportunities over the forecast period owing to the advance healthcare infrastructure in the region.

5) Who are the major players dominating the artificial blood vessels market?

Ans: The major players in the market are Medtronic Plc, Cook Medical Incorporated, Becton, Dickinson and Company (BD), Terumo Corporation, Humacyte, Inc., JOTEC GmbH., LeMaitre Vascular, Inc., Techshot, Inc., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the artificial blood vessels market?

Ans: The market is segmented by polymer, application, and by region.

8) Which sub-segment captures the largest market size in polymer segment in the artificial blood vessels market?

Ans: The elastomer segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.

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