Vascular patches market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses the market to account to USD 8.81 billion by 2027 growing at a growth rate of 7.95% in the above-mentioned forecast period. The growth of vascular patches market is owing to multiple factors such as rise in adoption of vascular patches in surgeries, easy to use and less infection rate.
This global Vascular Patches market research report potentially offers plentiful insights and business solutions that will lend a hand to win the competition. The report supports to establish and optimize each stage in the lifecycle of industrial process that includes engagement, acquisition, retention, and monetization. It has most-detailed market segmentation, systematic analysis of major market players, trends in consumer and supply chain dynamics, and insights about new geographical markets. All statistical and numerical information given in the report is symbolized with the help of graphs and charts which facilitates the understanding of facts and figures.
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Some of the major players operating in global vascular patches market are Terumo Corporation (Japan), C. R. Bard, Inc. (US), B. Braun Melsungen AG (Germany), LeMaitre Vascular, Inc. (US), Maquet (Germany), W. L. Gore & Associates, Inc. (US), Admedus (Australia), CryoLife, Inc. (US), Labcor Laboratórios Ltda (Brazil), Baxter International Inc. (US), Edwards Lifesciences Corporation (US), Neovasc Inc. (U.S.) and Janssen Pharmaceutical Companies of Johnson & Johnson (U.S.) among others.
Key Developments in the Market:
- In November 2017, Edwards Lifesciences, LLC (California) received U.S. FDA aaproval to its product Duravess Bovine Pericardial Vascular Patch which is designed for dependable vessel repair.
- In February 2012, Neovasc Inc. (U.S.) and LeMaitre Vascular, Inc. (U.S.) had an agreement in which LeMaitre Vascular, Inc. Purchase certain specific rights to Neovasc’s biological vascular surgical patch product technology on an accelerated basis price of USD 4.6 million.
Vascular patches market is growing due to rapidly growing geriatric population, growing occurrence of vascular diseases; the effects of these factors are mentioned below:
- Rapidly growing geriatric population: The significant rise of geriatric population is one of the major factors behind the substantial growth potential of the market, as with this group of population occurrence of chronic disorders is always high. This group is often characterized as high-risk candidates during any surgical procedure, which requires highly advanced and effective medical systems, devices, consumables which all can reduce any chances of different kinds of complications arising during any surgical procedure
- Growing occurrences of vascular diseases: Although, usage of vascular patches is limited to certain vascular disorders and diseases; many of the manufacturers are focusing on development of highly innovative and technologically advanced products so as to increase the indication wherein their products can be utilized. This focus of manufacturers to expand the capabilities of their product is backed by the high volume of vascular disorders. These circulatory complications arise due to the adoption of unhealthy habits and lifestyles, ranging from smoking, lack of exercise, unhealthy food habits and others
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Major Market Drivers and Restraints:
- Rapidly growing geriatric population
- The growing occurrences of the vascular diseases among the population
- Increasing adoption of the vascular patches in the surgeries
- Growth rate of the vascular surgeries
- Lack of skilled professionals
- Cases of product failures
(Carotid Endarterectomy, Open Repair of Abdominal Aortic Aneurysms, Vascular Bypass Surgery),
(Hospitals, Ambulatory Surgical Centers),
(U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of-Asia Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa)
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