Artificial Blood Vessels Market

Global Artificial Blood Vessels Market Size (2024 to 2029)

The Artificial blood vessels market size is estimated to be USD 2.13 billion in 2024 and is anticipated to reach 4.78 billion by 2029 with a CAGR of 5.5% during the forecast period.

Current Scenario of the Artificial Blood Vessels Market

The artificial blood vessels are the prosthetics made up of viable tissue representing the ideal vascular graft. The artificial blood vessel replaces the original blood vessels affected by the aneurysms and is a bypass for stenosed vessels. Generally, the artificial blood vessels are made of polyethylene terephthalate or Teflon. The neointima is induced on the inner surface of the artificial blood vessel to enhance the antithrombotic property. The global artificial blood vessels market has accounted for prominent growth in the past years and is anticipated to have notable growth during the forecast period. The rising prevalence of cardiovascular disorders globally, technological advancements, and advantageous benefits provided by artificial blood vessels are certain factors augmenting the market growth opportunities. According to the data provided by the British Heart Foundation, an average of 56,000 people die each day or every 1.5 seconds from heart and circulatory diseases.

MARKET DRIVERS

The rising incidence of cardiovascular disease worldwide is the primary factor contributing to the expansion of the artificial blood vessels market. The rise in cardiovascular diseases enhances the damage to the blood vessels, where the demand for artificial blood vessels is augmenting the global market growth rate. According to the data provided by the American Heart Association 2022, about 244.1 million people are living with coronary heart disease worldwide. Additionally, it also stated that North America, the Middle East, Central, and South Asia, along with Eastern Europe have the highest prevalence rates of coronary heart disease around the world. The increasing pool of geriatric population highly prone to vascular diseases increases the requirement for prosthetic blood arteries, especially during surgical procedures, which fuels the market growth. The growing development of healthcare infrastructure worldwide, particularly in emerging nations, increasing government support initiatives and continuous investments, and rising healthcare expenditures provide the artificial blood vessels market with growth opportunities. The rising demand for minimally invasive surgical procedures is enhancing the inclination for less intrusive surgical operations, accelerating the utilization of artificial blood vessels, and leading to market revenue growth.

The continuous investments in R&D activities in developing practical and safe medical devices and prosthetics create growth opportunities for the artificial blood vessels market growth. The increasing efforts of the major market players to provide efficient facilities and treatment procedures to people propel growth opportunities. Developing novel artificial blood vessels is estimated to accelerate the market growth rate.

MARKET RESTRAINTS

The high costs associated with developing and producing artificial blood vessels are the major factors hampering the market growth. The manufacturing, development, and production of artificial blood vessels involves advanced technology and expensive materials, which enhance the overall cost of the product, leading to restricted market growth. The limited availability and accessibility of artificial blood vessels in the healthcare industry of emerging regions restricts their utilization, impeding market revenue growth. The increased risk of complications such as infection, thrombosis, or body rejection is a few factors that limit the adoption of artificial blood vessels, which hinders market growth. The availability of alternative treatment options for cardiac patients, such as traditional vascular surgeries or medication, will restrain the market growth. The stringent regulatory framework for the approvals, as it is time-consuming and complex and involves more expenditure to the investors, acts as a challenge to the manufacturers, leading to a restricted market growth rate.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Artificial Blood Vessels Market Analysis By Polymer Type​​​​​

The polyethylene terephthalate segment dominated the global artificial blood vessels market with a significant share owing to its utilization as the standard biomaterial for vascular grafts in most clinical applications. Polyethene terephthalate performs well as large-diameter blood vessel grafts and has been used widely in humans for several decades, propelling the segment growth rate. The increased adoption of polyethylene terephthalate in preparing various healthcare products is boosting the segment growth opportunities.

The elastomers segment is estimated to grow prominently during the forecast period. Elastomers will provide the capacity to design implants that match the compliance of native tissue, which will boost the segment's growth.

Global Artificial Blood Vessels Market Analysis By Application​​​​​

The aortic disease segment held the most significant share in the global market and is estimated to have notable growth during the forecast period. The growing incidence of aortic disease worldwide contributes to the expansion of the market growth rate. The increasing geriatric population with chronic diseases where most of the diseases affect the aorta by enhancing the segment revenue growth.

The Peripheral Artery Disease segment is estimated to grow significantly during the forecast period. It is a common condition in which narrow arteries reduce blood flow to the arms and legs. The increased cases of peripheral artery disease around the world are escalating the growth opportunities for the artificial blood vessels market.

Global Artificial Blood Vessels Market Analysis By End-Users

The hospital segment dominated the artificial blood vessels market revenue with a prominent share and is estimated to have considerable growth during the forecast period. The increasing number of heart surgeries at hospitals due to growing patient's preference for quality care and advanced healthcare facilities is propelling the segment growth. The presence of skilled healthcare professionals is accelerating the adoption of hospitals among the people, leading to market growth.

The segments of specialty clinics and cardiac catheterization laboratories are projected to grow notably during the forecast period. The growing number of cardiac specialists and the increasing number of clinics worldwide with advanced infrastructure fuel the segment's growth opportunities.

REGIONAL ANALYSIS

The North American region accounted for significant revenue in the global artificial blood vessels market and is anticipated to have a notable growth rate during the forecast period. The well-established healthcare infrastructure and escalating regional technological advancements accelerate growth opportunities. The increasing number of smokers in the United States is enhancing the cases of aortic damage, which fuels the market growth in the region. The favorable reimbursement policies for treatment procedures are accelerating the accessibility to the number of patients, leading to regional market growth.

The European region held the second-largest share in the global market, with a considerable share owing to its advanced healthcare industry and pharmaceuticals. The presence of a favorable regulatory framework and the role of major market players across the region are propelling the regional market growth rate. Countries like Germany, the United Kingdom, and France are widely known for their well-established biopharmaceutical industry, which has positively influenced the region's market growth.

The Asia Pacific region is projected to grow fastest, with a prominent growth rate in the coming years. Increasing healthcare expenditures, growing awareness among the people, rising knowledge of innovative methods, and escalating R&D activities in the region augment the market growth.

KEY MARKET PLAYERS

Braun Melsungen, Becton, Dickinson and Company, Cook Medical Incorporated, Medtronic, LeMaitre Vascular Inc., Jotec GmbH, Terumo Medical Corporation, W.L. Gore and Associates, and Techshot Inc. are some of the key market players.

Recent Market Developments

• In November 2022, Jiangsu Bioda Life Science Co. Ltd announced the receipt of approval for an artificial blood vessel class III medical device from China's NMPA. This is the first domestic artificial blood vessel to get approval, and it is used for aortic coarctation and aneurysms.

DETAILED SEGMENTATION OF THE GLOBAL ARTIFICIAL BLOOD VESSELS MARKET INCLUDED IN THIS REPORT

This research report on the global artificial blood vessels market has been segmented and sub-segmented based on the following categories.

By Polymer Type

• Polydioxanone
• Elastomer
• Polyethylene Terephthalate
• Others

By Application

• Aortic Disease
• Peripheral Artery Disease
• Hemodialysis

By End-Users

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

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa