Artificial Blood Vessels Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4207
Artificial Blood Vessels Market size is projected to experience significant growth from 2019 to 2025.
Blocked blood vessels can cause some extreme life-threatening conditions. Hence, it is essential to replace a damaged blood vessel either by artificial vascular prostheses or through another arteries or veins from the body. Research institutes have developed artificial blood vessels made from special polymers, that has exceptional mechanical properties. The artificial vessels market is expected to witness favorable growth over the forth coming years, owing to increasing prevalence of aortic diseases across the globe.
Surgeons initially transplanted veins or arteries from donors to replace the damaged or diseased arteries from human body. Transplanting vessels from the patient's own body has various problems such as, development of arteriosclerosis and several post-surgery complications. Hence, to avoid such difficulties, artificial vessels were created by researchers, thus augmenting market growth.
However, presence of a stringent regulatory framework for the approval of artificial vessels will limit market growth. Moreover, high cost associated with transplants and surgeries will further impede market growth.
Aortic disease segment is expected to witness favorable growth during the analysis period. High growth is attributed to increasing prevalence of aortic diseases across the globe. Aortic aneurysm is one of the most common aortic disorder. Growing burden of such diseases will augment artificial blood vessels market growth. As per Centers for Disease Control and Prevention (CDC), in U.S., aortic aneurysm is the primary cause of more than 17 thousand deaths in 2014. Hence, increasing prevalence of such diseases will augment market growth.
Elastomer segment is expected to witness substantial growth across the forecast timeframe, owing to increasing uses of elastomer in production of artificial vessels. Moreover, increasing surgical interventions due to injuries or other aortic disorders will further augment market growth. Also, elastomer is the most frequently used polymer in the manufacturing of artificial blood vessels owing to its excellent mechanical properties, thus augmenting segmental growth.
The hospital segment is expected to hold major chunk of revenue over the forecast period. Hospitals offer state-of-the-art facilities for appropriate transplants at an affordable rate. Moreover, vessel transplants are recommended for hospitalized patients in critical conditions. Transplants for replacement of blocked blood vessels are mostly performed in hospitals owing to availability of desired healthcare settings. Additionally, increasing preference of people in the developing economies for hospitals over other medical facilities due to affordability will further augment market growth.
The U.S. is expected to witness substantial growth over the forecast period owing to the presence of well-developed healthcare infrastructure, skilled professionals and technological advancements. Furthermore, increasing prevalence of aortic diseases in the U.S. will further propel market growth. Additionally, rising initiatives by the government to manufacture advance technologies with the aim to deliver efficient results for vessel transplants is another major reason to escalate market growth.
China is expected to witness significant growth in the artificial blood vessels market during the analysis period. High growth is attributed to increasing prevalence of cardiovascular diseases in various parts of China. As per World Health Organization (WHO), China is among the major countries to be affected with cardiovascular diseases, thus augmenting market growth across the forecast timeframe.
Some of the key industry players include ArtiCasc 3D, Techshot Inc, Humacyte Inc., B. Braun Melsungen, Terumo Medical Corporation, Medtronic, LeMaitre Vascular Inc, Cook Medical Incorporated and W. L. Gore and Associates. Key strategies adopted by industry players include strategic collaborations, partnerships, mergers, and innovative product launch to expand their business product portfolio.
Artificial Blood Vessels Market by Application, 2014-2025 (USD Million)
- Aortic Disease
- Peripheral artery disease
Artificial Blood Vessels Market by Polymer, 2014-2025 (USD Million)
- Polyethylene terephthalate
Artificial Blood Vessels Market by End-use, 2014-2025 (USD Million)
- 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
- ArtiCasc 3D
- Techshot Inc
- Humacyte Inc.
- B. Braun Melsungen
- Terumo Medical Corporation
- LeMaitre Vascular Inc
- Cook Medical Incorporated
- W. L. Gore and Associates
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