360 Research Reports offers the latest published report on “Global Vascular Patch Market – Segmented by Material, Application and Geography – Growth, Trends, and Forecast (2019 – 2023)” delivering key insights and providing a competitive advantage to clients through a detailed report.
Global Vascular Patch Market 2019-2023 considers the past, current and future state of the industry while encapsulating modest landscape analysis, manufacturers, marketing strategies, industry effect factor analysis. An unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas has been included to help stakeholders to device and align Vascular Patch market strategies according to the current and future market. All enterprise profiles of the main players and brands are shown in this research. The report presents the drivers and restrictions of the market that have been explained by SWOT analysis.
Vascular Patch Market Segmentation by Major Players:
Lemaitre VascularBaxter InternationalMaquet (Subsidiary of Getinge AB)B.BraunW. L. Gore & AssociatesAdmedusCryolifeC. R. BardEdwards LifesciencesLabcorTerumo Corporation
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Overview of Vascular Patch Market Report:
The vascular patch market is expected to grow at a CAGR of 8.4% over the forecast period. Rapidly growing geriatric population and the subsequent increase in the prevalence of vascular diseases along with increasing adoption of biological patches is driving the market growth. However, the high cost associated with the surgical procedure, changing reimbursement environment and recent product failures and recalls can retard the market growth.
Rising geriatric population and the subsequent increase in the prevalence of vascular diseases
The global population is aging rapidly, owing to reduced birth rates and increasing life expectancy. According to United States Census Bureau’s Statistics among the 7.3 billion people worldwide in 2015, an estimated 8.5 percent, or 617.1 million were aged 65 and older. The number of older people is estimated to increase by nearly 60% in next 15 years. And by 2030 the total number of people above age of 65 will be more than a billion, i.e. geriatric population will represent 12% of global population. And by 2050 this number will cross 1.6 billion or 16.7% of total population. The ageing is commonly associated with increased vascular rigidity and decreased vascular compliance. Furthermore, in geriatric population the incidence and prevalence of peripheral arterial disease (PAD), aortic disease, and venous thromboembolism (VTE) increase due to age-related alterations in vascular structure which are further compounded by longer exposure to cardiovascular disease (CVD) risk factors. Apart from rise in geriatric population and increase in surgical procedures, increasing adoption of biological patches is also driving the market expansion.
Product Failures and Recalls
In June 2016, Baxter healthcare issued a product recall notice concerning its product Vascu-Guard Peripheral Vascular Patch and sent and urgent product recall letters via post to its customers. The notice identified the affected product, problem and actions to be taken. The costumers were instructed to immediately discontinue the use of product. Baxter received reports for intraoperative or postoperative bleeding episodes after the use of the product and one report involved a case with a fatal outcome. Previously, in the year 2015 Baxter issued a recall for some specific product codes of Vascu-Guard vascular patch family, due to complaints received for difficulty in distinguishing the smooth from rough surface. Risk of product failures and frequent recalls have a negative effect on patient compliance and can hinder the market expansion during the forecast period. The other factors restraining the market growth are high cost associated with the procedure, changing reimbursement environment and Risk of immune response and serious complications.
North America Dominates the Vascular Patch Market
North America dominated the market with the largest revenue share in 2017. The large share of the North American region can be attributed to the high prevalence of cardiovascular diseases, the faster product approval procedures and high adoption rate of new technologies. However, driven by rising healthcare expenditure and presence of a wide patient pool the Asia pacific region is expected to witness high growth during the forecast period.
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Reasons to Purchase Vascular Patch Market Report:
Analyzing various perspectives of the global vascular patch market with the help of Porter’s five forces analysisThe segment that is expected to dominate the marketRegions that are expected to witness fastest growth during the forecast periodIdentify the latest developments, market shares and strategies employed by the major market players3-month analyst support along with the Market Estimate sheet (in Excel)
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Important factors that are mentioned in the Vascular Patch Market report 2023…
Key Market Dynamics: The Global Vascular Patch Market research report provides complete forecasts on the latest market trends, development methods, and research methodologies. Some of the factors that are directly in affecting the market including the Strategic Production and Methods, development platforms, and the product model itself, and even a minute change within the product profile would result in a huge amount of changes within the mentioned factors. All of these factors are explained in detail in the research study.
Major Growth Prospects: The report also focuses on some of the Key growth prediction, including new product launches, Mergers and Acquisitions, Research and Development, joint ventures, collaborations, agreements, partnerships, and growth of the key Manufacturers working effectively in the market, both in terms of regional and global scale depending on geography.
Key Market Highlights: The report gives us an in-depth Market analysis on some of the Vascular Patch Market key factors, including revenue, cost, capacity, capacity utilization rate, production, production rate, consumption, supply, demand, Market share, CAGR, and gross margin. Additionally, the report presents a comprehensive study of the market growth factors and their latest trends, along with related Market sections and subsections.
Potential Customers: The Vascular Patch Market report provides significant insights to readers, service providers, suppliers, distributors, manufacturers, stakeholders, and individuals who are interested in evaluation and self-studying the Vascular Patch market.