The global vascular patches market is expected to post a CAGR of close to 9% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has released a new market research report on the global vascular patches market for the period 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global vascular patches market is the increasing prevalence of vascular devices. With the increasing prevalence of vascular diseases and the growing awareness and adoption of synthetic and biologic patches, the demand for vascular patches that are intended to treat these diseases is growing significantly. Further, synthetic and biological patches are easily available, and vendors are offering a wide variety of them with the easy-to-use option, biocompatibility, which will cater to the growing needs of the patients. These factors are driving the growth of the market.
This market research report on the global vascular patches market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the wide usage of prosthetic patches as one of the key emerging trends in the global vascular patches market:
Global vascular patches market: Wide usage of prosthetic patches
Synthetic patches or prosthetic patches are widely used in the treatment of carotid endarterectomy. The patch method is considered as a gold standard for vascular closure. Prosthetic patches have significant advantages over biologic patches such as the ease of availability and ready to go options. Thus, vendors are offering advanced synthetic vascular patches, which will cater to the growing requirements of healthcare centers. The availability of various types of synthetic vascular patches increases their adoption among healthcare centers, thus benefitting the market growth.
“Emerging countries are playing a pivotal role in driving the growth of the global vascular patches market owing to significant market opportunities such as economic growth, favorable government initiatives, and improved healthcare infrastructure,” says a senior analyst at Technavio.
Global vascular patches market: Segmentation analysis
This market research report segments the global vascular patches market by material (biological vascular patches and synthetic vascular patches) and geographical regions (APAC, EMEA, and the Americas).
The Americas region led the market in 2018 with a market share of more than 48%, followed by the EMEA and APAC respectively. Although the APAC region held the smallest share of the market in 2018, it is expected to register the highest incremental growth during the forecast period.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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