Artificial Blood Vessels Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4207
Artificial Blood Vessels Market size will emerge as one of the most lucrative verticals in the healthcare & medical domain from 2021 to 2027. The application of artificial blood vessels in medical procedures is increasing owing to the widespread occurrence of aortic disease, hemodialysis, peripheral artery disease, and other ailments. Also known as synthetic blood vessels or bioengineered blood vessels, these vessels are tubes made of synthetic materials which help in restoring blood circulation.
Continuous research and development are driving new innovations in the market. Numerous research studies over the years have shown that bioengineered blood vessels can incorporate living cells after implantation to become self-healing, blood carrying tubes that function like real human blood vessels. Further research in the field could expand the application of synthetic blood vessels in medical procedures such as complex cardiovascular diseases, complicated wounds, and high-risk surgeries.
The hemodialysis segment will account for a substantial share of the market by 2027. This can be attributed to the increasing number of people suffering from kidney failure or chronic kidney disease. The U.S. National Kidney Foundation estimates that without increased investments in prevention, the total number of patients with kidney failure could surpass 1 million by 2030. The growing burden of kidney-related disorders indicates that the demand for hemodialysis procedures will increase in the coming years, augmenting the application of bioengineered blood vessels.
The ambulatory surgical centers is anticipated to grow rapidly in the coming years. Consumer preference towards ASCs is increasing credited to the benefits including lower cost, high safety and reliability, improved convenience and accessibility, shorter stay, and faster recovery. Due to the growing number of patients visiting ASCs for various procedures, these centers are likely to boost their investment in advanced surgical technologies such as synthetic blood vessels.
Europe artificial blood vessels market will experience commendable growth between 2021 and 2027 led by the well-developed healthcare infrastructure in the region and the increasing pace of technological advances. The region is home to a massive geriatric population base. According to the European Commission’s statistical body Eurostat, the number of individuals aged 65 or more is estimated to rise from over 90.5 million back in 2019 to more than 129 million by 2050. Aging population and the growing occurrence of cardiovascular problems, kidney failure, aortic disease, and other health issues will benefit the regional manufacturers significantly.
Some of the major companies in global market include B. Braun Melsungen, Cook Medical Incorporated, Medtronic, Terumo Medical Corporation, ArtiCasc 3D, W. L. Gore and Associates, LeMaitre Vascular Inc, Humacyte Inc., and Techshot Inc. Mergers, acquisitions, and strategic collaborations are some of the key approaches taken by companies to expand their market presence. For instance, in February 2021, Humacyte had formed a merger with specialty purpose acquisition company (SPAC) Alpha Healthcare Acquisition (AHAC). The combined company will receive USD 100 million from AHAC and other USD 155 million from other investors which it will use to advance its regenerative medicine pipeline.
How has COVID-19 impacted artificial blood vessels market forecast?
The COVID-19 pandemic has created opportunities for the market due to the increasing number of infected patients and hospital admissions. This is because COVID-19 patients are at a higher risk of aortic disease, cardiovascular disorders, or kidney related problems. For instance, according to the U.S. National Kidney Foundation, hospitalized COVID-19 patients are at an elevated risk of acute kidney injury (AKI), which can lead to dialysis, serious illness, and even death. Increased complications among COVID-29 patients and the rise in related medical procedures can foster the demand for synthetic blood vessels.
This market research report on artificial blood vessels includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027, for the following segments:
Market, by Application
- Aortic Disease
- Peripheral artery disease
Market, by Polymer
- Polyethylene terephthalate
Market, by End-use
- Cardiac catheterization laboratories
- Ambulatory surgical centers
- Specialty clinics
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
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