Zion Market Research has published a new report titled “Artificial Blood Vessels Market by Type (Polydioxanone, Elastomer, Polyethylene Terephthalate, and Others), by Application (Aortic Disease, Peripheral Artery Disease, and Hemodialysis), and by End User (Hospitals, Cardiac Catheterization Laboratories, Ambulatory Surgical Centers, Specialty Clinics, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 – 2025”. According to the report, global demand for artificial blood vessels market was valued at approximately USD 1,967.2 million in 2018, and is expected to generate revenue of around USD 3,158.8 million by end of 2025, growing at a CAGR of around 7.0% between 2019 and 2025.
Artificial blood vessels are made of biosynthetic materials like the polyethylene terephthalate and polydioxanone due to its high permeability to oxygen, high chemical water resistance capacity, and high conductivity. These are synthetic tubes that are used to restore blood circulation. Most frequently used artificial blood vessels are the hemoglobin-based oxygen carriers as these are used in transferring molecules of oxygen to heart vessels form blood stream thus further reestablishing normal functioning of heart. Other material like silk is recently being used in the manufacturing of artificial blood vessels.
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Epidemiological studies suggest that growing incidences of AAA (abdominal aortic aneurysm) is propelling the market growth. AAA is a pathologic local dilation of abdominal aorta. In 2014, as per stats by CDC, 9,865 deaths occurred due to aortic aneurysm. Treatment of AAA in the past decades has become among major threats to health due to its outcome with 80% of the overall mortality in rupture. Cerebrovascular disease, renal insufficiency, hypertension, smoking, claudication, dyslipidaemia, coronary artery disease, and respiratory disease are the other foremost factors which have ultimately increased the need for invasive procedures and surgeries thus, driving the market for artificial blood vessels globally.
The market for artificial blood vessels is segmented based on application, type, end user and regions. Based on type the market is segmented into elastomer, polyethylene terephthalate, polydioxanone, and others. Elastomer segment held major share of the market in 2018 as elastomers are frequently used polymers in the production of artificial blood vessels as these have exceptional mechanical properties, which has boosted this segmental growth.
Based on applications the market is segmented into peripheral artery disease, hemodialysis, and aortic diseases. The segment for aortic disease held major share of the market in 2018 owing to growing prevalence of aortic diseases globally. Besides, aortic aneurysm is the most common aortic disorders today. Based on end user the market is segmented into cardiac catheterization laboratories, specialty clinics, hospitals, ambulatory surgical centers, and others. The segment for hospitals held major share of the market in 2018 since hospitals provide state-of-the-art facilities for patients suffering from diseases at affordable costs.
The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa with its further bifurcation into major countries. North America held major share of the market in 2018 due to the presence of skilled professionals, well-developed healthcare infrastructure, and technology advancements in this region. Besides, growing prevalence of aortic diseases in the U.S. is also likely to boost market growth. Moreover, growing initiatives by the government to manufacture advanced technologies with aim to deliver efficient results for vessel transplants is another factor escalating market growth.
Some of the players included in the global artificial blood vessels market are ArtiCasc 3D, Terumo Medical Corporation, Medtronic, Humacyte, Inc., W. L. Gore and Associates, B. Braun Melsungen, LeMaitre Vascular, Inc., Cook Medical Incorporated, JOTEC GmbH and Bard Peripheral Vascular, Inc.
This report segments the global artificial blood vessels market as follows:
Global Artificial Blood Vessels Market: Type Segment Analysis
Global Artificial Blood Vessels Market: Application Segment Analysis
Global Artificial Blood Vessels Market: End User Segment Analysis
Global Artificial Blood Vessels Market: Regional Segment Analysis
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