Vascular Patches Market To Generate USD 724.2 Million Revenue in 2030, Says P&S Intelligence

NEW YORK, Feb. 27, 2023 /PRNewswire/ -- In 2022, the vascular patches market was worth around USD 387.3 million, and it is on track to hitting USD 724.2 million by 2030, advancing at a CAGR of 8.1% between 2022 and 2030. This is attributed to the growing cases of vascular ailments in the geriatric population, development of the healthcare infrastructure, and surging application of biological patches.

In the APAC region, China is recording a substantial growth rate due to the mounting cases of cardiovascular illnesses, which is the major reason for deaths; the use of a seafood and high-sodium diet, and the large count of alcoholics and smokers.

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Globally, the highest revenue contributor is North America, with a share of about 40%, due to the fast-changing lifestyles, constantly advancing healthcare technologies, increasing occurrence of cardiac illnesses, rising number of tobacco and alcohol consumers, and surging obesity levels.

• Due to the well-established healthcare infrastructure, increasing consumer awareness, favorable support from the government, and technological developments in the surgery field, the Canadian market is recording significant growth.

The European region holds the second-largest share in the sector owing to the existence of key companies and research organizations and the favorable government guidelines for the predictive management of illnesses, by encouraging surgeries.

• Moreover, Germany is witnessing a substantial pace of advance owing to the increasing healthcare budget, surging acceptance of cutting-edge technologies, concrete government initiatives, and growing adoption of surgeries for congenital heart diseases (CHDs).

Vascular Patches Are Mostly Used in Carotid Endarterectomy

• The category of CEA accounts for the largest revenue share, of about 40%, owing to the escalating number of these surgeries. In traditional CEAs, compared to a primary closure, a patch angioplasty can decrease the chance of recurrent restenosis and ipsilateral stroke.
• Moreover, in the future, the CHDs category is predicted to witness a considerable pace of growth. CHD is a heart structure defect that is present at birth. The cases of such issues are reported to be 8 to 12 per 1,000 live births. Globally, around 1.35 million children are born with a CHD annually, if the incidence rate is taken as 9 per 1,000.

Browse detailed report on Vascular Patches Market Share, Growth, Development and Demand Forecast to 2030

• The biological category, with a share of approximately 60%, is the higher revenue contributor, and it is predicted to maintain this position in the coming years. For closing off the arteries during heart surgeries, biological variants are extensively used.
• Over their synthetic counterparts, such patches have various benefits, such as less injurious or toxic nature, reduced chances of immunological rejections, minimized risk of infection, and decreased suture line bleeding.

Vascular Patches Market Segment Coverage in the Report

Vascular Patches Market by Material

• Biological
• Synthetic

Vascular Patches Market by Application

• Carotid Endarterectomy
• Open Abdominal Aortic Aneurysm Surgery
• Vascular Bypass Surgery
• Congenital Heart Disease

Vascular Patches Market by End User

• Hospitals
• Ambulatory Surgery Centers

Vascular Patches Market by Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia-Pacific
• Japan
• China
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa
• U.A.E.

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SOURCE P&S Intelligence