Vascular Patches Market Is Estimated To Witness High Growth Owing To Rising Number Of Cardiovascular Surgeries

The vascular patches market is estimated to be valued at US$ 380.9 Mn or Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Vascular patches are sheet-like surgical grafts used to repair damaged blood vessels or reinforce vessels for bypass surgeries. They are predominantly used during cardiovascular procedures such as coronary artery bypass grafting and aortic aneurysm repair. Majorly used patches include biological and synthetic patches. Biological patches include those derived from bovine or porcine pericardium and human cadaver pericardium. Synthetic patches include ones made from polyester.

Market Dynamics:
The vascular patches market is expected to grow at a steady rate during the forecast period owing to two major drivers. Firstly, rising global prevalence of cardiovascular diseases such as coronary artery disease, heart failure, and stroke has led to an increasing number of cardiovascular surgeries. For instance, according to data published by the American Heart Association, in 2015, approximately 915,000 Americans suffered a heart attack. Out of these over 610,000 were diagnosed as first heart attacks. Secondly, technological advancements in vascular patches in terms of mechanical properties and biocompatibility have expanded their applications. For example, new patches are being developed from composite materials combining polymers and biological tissues to provide both mechanical strength and biocompatibility. These improved patches are enabling surgeons to repair more complex vascular defects.

Vascular Patches Market

SWOT Analysis
Strength: Vascular patches have good biocompatibility and integration with host tissues which helps in easy recovery of patients. They are available in different sizes and materials to suit various applications. Standard manufacturing processes ensure quality and consistency of vascular patches.
Weakness: Certain synthetic materials used in vascular patches may cause complications like inflammation and infection in a small number of patients. Sourcing appropriate biomaterials and their processing into medical grade patches increases production costs.
Opportunity: Rising prevalence of vascular diseases worldwide opens growth avenues. Developing economies provide scope to increase patient access through affordable vascular patches.
Threats: Stringent regulatory norms for approval of new vascular patch designs increases barriers. Shift towards minimally invasive therapies poses threat to traditional open vascular surgeries requiring patches.

Key Takeaways

The global Vascular Patches market is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing prevalence of cardiovascular diseases, growing obese population, and rising demand for effective treatment options.

Regional analysis: North America currently dominates the vascular patches market owing to rising cardiovascular disease incidence, developed healthcare infrastructure, and availability of advanced treatment options. Asia Pacific is expected to grow at the fastest rate during the forecast period due to increasing medical tourism, growing healthcare expenditure, and expanding healthcare infrastructure in developing countries.

Key players: Key players operating in the Vascular Patches market are B. Braun Melsungen AG, C. R. Bard, Inc., LeMaitre Vascular, Inc., Getinge AB, W. L. Gore & Associates, Inc., Edwards Lifesciences Corporation, Baxter International Inc., CryoLife, Inc., Medtronic, and Admedus