Artificial Blood Vessels Market by Type and End User - Global Industry Analysis and Forecast to 2025

Report Code : HC06173

Cardiovascular diseases are class of diseases which affects heart or blood vessels and includes disorders such as stroke, heart failure, congenital heart disease, angina, arrhythmia and myocardial infarction, characterized by chest pain, increasing and irregular heartbeat, excessive sweating and difficulty in breathing. According to report published by American Heart Association in 2017, around 92.1 million American adults are living with some or other type of cardiovascular disease. The estimated number of new heart attacks in U.S. is 580,000with 210,000 incidences of recurrent attacks. Heart conditions such as atherosclerotic plaques can result in severe occlusions of peripheral and coronary arteries. Treatment depends on degree of severity of disease and includes drug therapy, coronary artery angioplasty and bypass surgery. Generally, internal mammary arteries are used as replacement grafts. However, artificial grafts are used for treating those patients who have severely damaged arteries owing to other chronic diseases or previous surgeries.

Artificial blood vessels are tubes made of synthetic polymers which are used to restore blood circulation in disease state. These synthetic blood vessels are manufactured by using biosynthetic materials such as polyethylene terephthalate and Polydioxanone owing to high water and chemical resistance, high conductivity and high permeability to oxygen. Hemoglobin- based oxygen carriers are one of the commonly used synthetic blood vessels which are to transfer oxygen molecules form blood stream to heart vessels thereby restoring normal functioning of heart. Other materials such as Silk have been recently used for producing artificial blood vessels. Prosthetic silk is manufactured by special processed silk, with unique knitting technology rolled into a cylinder with alternative silk as a protective coating, to prevent the leakage of blood.

Increasing geriatric population with higher risk of developing cardiovascular disorders is key factor expected to propel growth of the market. Number of people with aged 60 and more has increased substantially in the past few years. According to UN aging population is expected to grow at 56% from 901 million in 2015 to 1.4 billion by 2050. Such high prevalence of cardiovascular diseases will surge growth of artificial blood vessels. Moreover, increase in the healthcare expenditure of people and favorable reimbursement policies will further drive growth of the market. However, expensive vascular graft procedures, high cost and high risk of developing infection is expected to slow down growth of the market.

 

Major players operating in artificial blood vessels market are W.L. Gore & Associates, Inc., B. Braun Melsungen AG, Medtronic Plc., Bard Peripheral Vascular Inc., Maquet Holding B.V. & Co. KG, Terumo Medical Corporation, Cook Medical, Heart Medical Europe BV, Jotec GmbH and Lemaitre Vascular Inc. New product launch is the common strategy observed among key players to acquire larger market share thereby enhancing their global presence. For instance, in January 2016, Jotec GmbH had launched E-ventus BX balloon expandable peripheral stent graft system exclusively used for interventional therapy of arteries in cases of raptures, dissections and aneurysms.

Emerging markets coupled with technological advancements will provide ample growth opportunities for players operating in the global market. Furthermore, increasing FDA approval for new technologies and devices will drive the market in coming next years. Breakthrough technologies such as artificial blood vessels that have ability to grow when implanted in the body will revolutionize the global market. Furthermore, advancements in 3D printing technology and vascular tissue engineering enabling development of customized vascular grafts will drive the market in coming years.

Artificial Blood Vessels Market Segmentation:

 

By Type

  • Bypass Graft
  • Peripheral Vascular Graft
  • Endovascular Stent Graft
  • Others

By End User

  • Hospitals
  • Cardiac Catheterization Laboratories
  • Ambulatory Surgical Centers
  • Specialty Clinics
  • Others

By Region

  • North America
  • U.S
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • Australia
  • India
  • South Korea
  • Rest of Asia-Pacific
  • Rest of the World
  • Brazil
  • South Africa
  • Saudi Arabia
  • Turkey
  • United Arab Emirates
  • Others

Research Methodology

We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.

Data Mining

Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.

Data Collection Matrix

Data Collection Matrix

Supply Side

Demand Side

Primary Data Sources

  • Manufacturers
  • Distributors & Wholesalers
  • GPOs
  • Physicians/Specialist
  • Healthcare Providers
  • Consumers

Secondary Data Sources

  • Annual Reports/SEC Filings/ Investor Presentations/ Press Releases
  • Government/Associations Publications
  • Case Studies
  • Reference Customers

 

Market Modeling and Forecasting

We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.

  • Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
  • Number of patients for particular device or medical procedure and
  • Repeated use of particular device depending on health and condition of patient
  • Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.

We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.

Data Validation

We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.

Data Triangulation

Industry Analysis

Qualitative Data

Quantitative Data (2017-2025)

  • Market Dynamics (Drivers, Restraints, and Challenges)
  • Industry Trend Analysis
  • Market Opportunities
  • Government Policies and Regulations, Patent Analysis, and Reimbursement Policies
  • Porter’s Five Forces and PESTLE Analysis
  • Key Developments and Competitive Landscape
  • Market Assessment and Forecast
  • Market Assessment and Forecast, By Product
  • Market Assessment and Forecast, By Technology
  • Market Assessment and Forecast, By Application
  • Market Assessment and Forecast, By End User
  • Market Assessment and Forecast, By Region/Country

Licesnces Type

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