Dublin, July 03, 2018 (GLOBE NEWSWIRE) -- The "Vascular Patches Market by Material, Application, Patient Care Setting - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering. The vascular patches market is expected to reach USD 525.8 million by 2023 from USD 349.6 million in 2018, at a CAGR of 8.5%. Factors such as rapidly growing geriatric population and the subsequent increase in the prevalence of vascular diseases; increasing number of vascular surgeries performed; and increasing adoption of biological patches are driving the growth of the market. The decreasing number of carotid endarterectomy surgeries and product failures and recalls are expected to limit market growth in the coming years.
On the basis of material, the vascular patches market is segmented into biologic vascular patches and synthetic vascular patches. The biologic vascular patches segment is expected to grow at the highest CAGR during the forecast period. Growth in this market can largely be attributed to the advantages associated with the use of biologic vascular patches, such as superior biocompatibility, ease of use, minimal suture line bleeding, and reduced rates of infection in comparison with synthetic patches. Geographically, the vascular patches market is dominated by North America, followed by Europe in 2017. However, Asia Pacific is estimated to grow at the fastest rate due to the rising prevalence of cardiovascular diseases and the implementation of favorable government initiatives in several Asian countries.
In India, for example, the central government and the Health Ministry launched the AMRIT (Affordable Medicines & Reliable Implants for Treatment) program in 2015, which enables pharmacies in government hospitals to sell various devices, cardiac implants, and cardiovascular drugs at 50-60% lower prices. Such initiatives will help boost the demand for cardiac products, including vascular patches, in the coming years.
Market Dynamics
Drivers
- Rapidly Growing Geriatric Population and the Subsequent Increase in the Prevalence of Vascular Diseases
- Increasing Number of Vascular Surgeries Performed
- Increasing Adoption of Biological Patches
Restraints
- Decreasing Number of Carotid Endarterectomy Surgeries
- Product Failures and Recalls
Opportunities
- Emerging Markets
Challenges
- Need for Highly Skilled Professionals
Trends
- Product Launches and Approvals
Key Topics Covered
1 Introduction 1.1 Objectives of the Study 1.2 Market Definition 1.3 Market Scope 1.3.1 Markets Covered 1.3.2 Years Considered for the Study 1.4 Currency 1.5 Limitations 1.6 Stakeholders 2 Research Methodology 2.1 Research Approach 2.2 Research Data 2.2.1 Secondary Sources 2.2.1.1 Key Data From Secondary Sources 2.2.2 Primary Sources 2.2.2.1 Key Data From Primary Sources 2.3 Market Size Estimation 2.4 Market Breakdown and Data Triangulation 2.5 Research Assumptions 3 Executive Summary 4 Premium Insights 4.1 Vascular Patches: Market Overview 4.2 Asia Pacific: Vascular Patches Market, By Application (2018) 4.3 Vascular Patches Market, By Material (2018-2023) 4.4 Geographical Snapshot of the Vascular Patches Market 5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Rapidly Growing Geriatric Population and the Subsequent Increase in the Prevalence of Vascular Diseases 5.2.1.2 Increasing Number of Vascular Surgeries Performed 5.2.1.3 Increasing Adoption of Biological Patches 5.2.2 Restraints 5.2.2.1 Decreasing Number of Carotid Endarterectomy Surgeries 5.2.2.2 Product Failures and Recalls 5.2.3 Opportunities 5.2.3.1 Emerging Markets 5.2.4 Challenges 5.2.4.1 Need for Highly Skilled Professionals 5.2.5 Trends 5.2.5.1 Product Launches and Approvals 6 Vascular Patches Market, By Material 6.1 Introduction 6.2 Biologic Vascular Patches 6.3 Synthetic Vascular Patches 7 Vascular Patches Market, By Application 7.1 Introduction 7.2 Carotid Endarterectomy 7.3 Open Repair of Abdominal Aortic Aneurysms 7.4 Vascular Bypass Surgery 7.5 Other Applications 8 Vascular Patches Market, By End User 8.1 Introduction 8.2 Hospitals and Clinics 8.3 Ambulatory Surgical Centers 9 Vascular Patches Market, By Region 9.1 Introduction 9.2 North America 9.2.1 US 9.2.2 Canada 9.3 Europe 9.3.1 Germany 9.3.2 UK 9.3.3 France 9.3.4 Italy 9.3.5 RoE 9.4 Asia Pacific 9.4.1 China 9.4.2 Japan 9.4.3 India 9.4.4 RoAPAC 9.5 Rest of the World 10 Competitive Landscape 10.1 Overview 10.2 Ranking of Key Players 10.3 Competitive Scenario 10.3.1 Expansions 10.3.2 Product Launches and Approvals 10.3.3 Agreements and Partnerships 10.3.4 Investments 11 Company Profiles 11.1 Lemaitre Vascular 11.2 Baxter International 11.3 Maquet (Subsidiary of Getinge AB) 11.4 B.Braun 11.5 W. L. Gore & Associates 11.6 Admedus 11.7 Cryolife 11.8 C. R. Bard 11.9 Edwards Lifesciences 11.10 Labcor 11.11 Terumo Corporation
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