Vascular Patches Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the Vascular Patches Market was valued at USD 354.4 million in 2022, and a CAGR of 8.1% is expected during the forecast period. Growing geriatric population and prevalence of vascular diseases are driving growth in the market significantly. The availability of reimbursement for vascular procedures and the increasing number of cardiac patients are driving growth in the market significantly. The increasing number of cardiovascular surgeries is the key cause behind the significant growth in the market. Lifestyle changes and the risk factors like hypertension, obesity, diabetes, and smoking are the key factors behind the significant growth in the market.

Minimally invasive surgeries are gaining popularity for their reduced recovery time, shorter hospital stays, and lower risk of complications. Vascular patches, often used in such procedures, are therefore seeing increased demand as surgeons seek effective solutions for vascular repair and reconstruction. Increasing demand for minimally invasive procedures is the key reason behind the significant growth in the market. Rising disposable income and increasing urbanization are significantly changing the market dynamics.

Growth Drivers

The aging population worldwide has a higher risk of vascular diseases, creating greater demand for vascular surgeries. As elderly demographics grow, so does the need for vascular patches to support procedures like carotid endarterectomy, peripheral bypass, and hemodialysis access. The number of surgeries for vascular conditions is rising, partially driven by improved healthcare access in emerging economies. This increase in procedures, especially endovascular repair, directly boosts the demand for vascular patches.

Increasing investment by government and private organizations in healthcare infrastructure, promoting research in biomaterials, and increasing awareness about CVDs. Such support accelerates the adoption of advanced vascular patches, particularly in developing regions. The growing number of renal procedures and chronic kidney diseases are driving growth in the global vascular patch market. Modern sedentary lifestyles contribute to increased cases of CVD, diabetes, and obesity, which are primary risk factors for vascular tissues. This trend increases the need for vascular surgeries.

Rising healthcare expenditure and increasing demand for better treatment of chronic diseases are driving growth in the market.

Segmentation

By Material

·         Biological Vascular Patches

·         Synthetic Vascular Patches

By Application

·         Carotid Endarterectomy

·         Vascular Bypass Surgery

·         Congenital Heart Diseases

·         Other Applications

·         Open Repair of Abdominal Aortic Aneurysm

End-User

·         Hospitals

·         Ambulatory Surgical Centers

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

Global Vascular Patches Market by End-User Segmentation

On the basis of the end-user, the global vascular patch market is segmented into hospitals and ambulatory surgical centers. Hospitals are the leading segment in the market due to easily being accessible and the high number of patient flow in the hospitals. Since hospitals perform the majority of cardiovascular and vascular surgeries, including bypass, which often require vascular patches for vessel repair. Large patient volume makes hospitals the primary consumers of vascular patches.

Hospitals are generally equipped with necessary surgical facilities and advanced technologies to carry out complex procedures that utilize vascular patches. Hospitals employ specialized vascular and cardiovascular surgeons who are trained to perform complex procedures. Vascular conditions such as arterial injuries require urgent surgical intervention available. Ambulatory surgical centers are another leading segment, which is significantly driving the growth in the market due to the increasing number of cardiac and other chronic disease patients.

 Regional Outlook

On the basis of the regions, the Global Vascular Patches Market is segmented into 5 regions: Asia Pacific, North America, Latin America, Middle East and Africa, and Europe. North America is the leading segment in the Global Vascular Patches Market and is expected to dominate the market during the forecast period due to the increasing number of cardiovascular patients due to hectic life schedules and conditions like atherosclerosis. The condition requires surgical interventions where vascular patches are essential for reconstruction.

North America has a well-established healthcare infrastructure that supports more complex surgical procedures and innovative treatment options that involve the use of vascular devices. North America has higher healthcare spending per capita than many regions, allowing for greater adoption of advanced medical products like vascular patches. Aging population in the region and an increasing number of geriatric people contribute significantly to market demand.

North America, particularly the United States of America, is blessed with the best infrastructure and is witnessing significant growth during the forecast period due to the highest number of cardiac patients. The Asia-Pacific region is also not far behind due to the rapidly growing population, and the increasing number of geriatric people, who are more prone to cardiac diseases, is driving the growth in the market. Countries like China, India, South Korea, Japan, Thailand, Singapore, and Australia are witnessing significant growth in the market.

The region has a significant elderly population, especially in Japan and China. Other adults are more susceptible to vascular diseases. Lifestyle changes, urbanization, and an increase in health issues like hypertension, diabetes, and obesity are resulting in higher demand for vascular patches. Countries like India, Japan, and China are investing heavily in their healthcare infrastructure. This includes facilities, medical technology, and training. Asia Pacific is a hub for medical tourism, especially in countries like Thailand, India, and Singapore. Patients come from across the globe for affordable and high-quality treatments, which include surgeries needing the patches further.

The region has seen significant growth in medical technology and innovation. Global and local manufacturers have established production and research and development facilities to cater to the demand, providing a wide range of vascular patches with improved materials and designs. Unhealthy diets, physical inactivity, and stress have led to a higher incidence of cardiovascular diseases in the region. The presence of key players in Asia Pacific and North America is one of the key factors driving growth in the market. The increasing number of hospitals to treat cardiac patients efficiently is driving growth in the market. Rising disposable income in almost all parts of the world is the key reason behind the significant growth. Regions like Asia Pacific and North America are expected to dominate the market during the forecast period.

 Key Players

·         Aegis Lifesciences

·         B Braun

·         Labcor Laborations

·         SynkroMax Biotech Pvt. Ltd.

·         Getinge AB

·         LeMaitre Vascular Inc

·         W.L. Gore and Associates

·         Artivian, Inc.

·         Baxter International Inc.

·         Other Players