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China Vascular Grafts Industry Overview
The China vascular grafts market size is expected to reach USD 172.8 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.6% from 2021 to 2028. The increasing prevalence of cardiovascular diseases, diabetes, and end-stage renal disease are the factors driving the market. The rise in the number of people suffering from these conditions is expected to boost the demand for these products in the coming years. In addition, the development of novel technologies, such as tissue-engineered materials, is expected to boost overall revenue over the forecast period. The COVD-19 pandemic has negatively impacted the country’s growth due to the increasing focus on COVID-19 treatment and recommended deferrals of elective medical procedures in the country.
China Vascular Grafts Market Segmentation
Grand View Research, Inc. has segmented the China vascular grafts market on the basis of product, application, and raw material:
Based on the Product Insights, the market is segmented into Hemodialysis Access Grafts, Endovascular Stent Grafts, Coronary Artery By-Pass Grafts, Vascular Grafts for Aorta Disease, Peripheral Vascular Grafts.
- In 2020, the endovascular stent-grafts product segment held the largest market share of 60.8%. Increasing acceptance of endovascular stent-grafts, especially for the treatment of thoracoabdominal aortic aneurysm, is expected to boost usage of these products thereby, aiding the market growth.
- Furthermore, the reduced mortality rate associated with this treatment and technological advancements in novel product development are among factors expected to positively influence market growth in China.
- The peripheral vascular grafts segment is anticipated to register the fastest growth during the forecast period. Technological advancements in the novel products development for the treatment of Peripheral Artery Diseases (PAD) are anticipated to drive demand for peripheral vascular grafts during the forecast period.
Based on the Application Insights, the market is segmented into Cardiac Aneurysm, Kidney Failure, Vascular Occlusion, Coronary Artery Disease.
- In 2020, the cardiac aneurysm segment held the largest market share of 49.2%. It can be attributed to an increase in the prevalence of cardiovascular diseases and improvements in the development of advanced tissue-engineered grafts for pediatric congenital heart surgeries.
- Moreover, the increasing geriatric population and growing adoption of unhealthy lifestyles, such as alcohol consumption and smoking, is anticipated to drive the demand for minimally invasive vascular grafting procedures.
- The vascular occlusion segment is anticipated to register the fastest growth during the forecast period. The increasing prevalence of vascular occlusive diseases and easy availability of graft procedures, especially the saphenous vein graft, are expected to drive the demand for vascular grafts during the forecast period.
Based on the Raw Material Insights, the market is segmented into Polyester, Polytetrafluoroethylene, Polyurethane, Biological Material Based Vascular Grafts.
- Polytetrafluoroethylene vascular graft segment held the largest market share of 46.0% in 2020, and it is anticipated to register the fastest growth during the forecast period. Key factors responsible for the largest share include rising demand for novel engineered prosthetics and technologically advanced products.
- The polyester vascular grafts segment is also expected to witness significant growth during the forecast period. Technological advancements in novel polyesters, such as sirolimus-eluting poly and low porosity artificial vascular grafts, which are created with ultrafine polyester fibers, are among the key factors, are expected to drive demand for polyester grafts over the forecast period.
Key Companies Profile Market Share Insights
Partnerships, collaborations, mergers and acquisitions, and the development of new products are among key strategies adopted by these players to gain a competitive edge in the market.
Some prominent players in the China vascular grafts market include
- Medtronic plc
- Terumo Corporation
- LeMaitre Vascular, Inc.
- C.R. Bard; W.L. Gore and Associates, Inc.
- Cook
- Shanghai Suokang Medical Implants Co. Ltd.
- Getinge AB
Order a free sample PDF of the China Vascular Grafts Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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