Global Vascular Patches Market is estimated to growdouble fold by the end of 2023. The market is mainly driven by the burgeoninghealthcare sector. In 2017, the market had valued at USD 4.1 Bn which isexpected to reach USD 6.1 Bn by 2023, registering 4.1% CAGR during the forecastperiod (2018-2023).
Furthermore, the demand for optimization of efficacy and safety monitoring along with the technological advancements, are fostering the market growth, recovering patients earlier than the estimated time which is further saving the cost of the hospital stay.
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Global Vascular Patches Market – Key Players
Some of the market leadersprofiled in the report are C.R. Bard, Inc. (U.S.), Terumo Corporation (Japan),B. Braun Melsungen AG (Germany), Maquet (Germany), LeMaitre Vascular, Inc.(U.S.), W. L. Gore & Associates, Inc. (US), CryoLife, Inc. (U.S.), Admedus(Australia), Labcor Laboratórios Ltda (Brazil), Edwards LifesciencesCorporation (U.S.), and Baxter International Inc. (U.S.).
Global Vascular Patches Market – Segments
The global vascular patches market has been segmented on the basis of material, application, end-user, and regions. By material, the market is segmented into biologic vascular patches and synthetic vascular patches.
Among these, the segment biologic vascular patches account for the major segment, whereas, the synthetic vascular patches segment accounts for the fastest growing segment.
By application, the market is segmented into carotid endarterectomy and open repair of abdominal aortic aneurysms vascular bypass surgery
Out of these, the segment carotid endarterectomy accounts for the largest segment, whereas, the open repair of abdominal aortic aneurysms vascular bypass surgery is the fastest growing segment.
By end-user the market issegmented into hospitals & clinics and ambulatory surgical centers, andothers. The segment hospitals &clinics is the largest segment, whereas the ambulatory surgical centers isdeemed to be the fastest growing segment.
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Whereas, the Asia Pacific region is emerging as the fastest growing market for vascular patches. Factors such as the growing healthcare sector in highly populated countries such as India and China substantiate the market growth in the region. Furthermore, factors like the increasing geriatric populace, rising cases of patients suffering from chronic coronary diseases, growing awareness about healthcare, influence the market growth positively.
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