Graft is a tube shaped synthetic material, used to patch injured or diseased area of arteries or veins. It is used to redirect flow of blood and restore normal blood flow within the body. The global vascular graft market is growing at significant rate due to rapid growth in geriatric population increasing prevalence of diabetes and cardiovascular disease and increasing prevalence of smoking. The market has witnessed high demand for endovascular aneurysm over the last few years, due to growing geriatric population and increasing demand for minimally invasive surgical procedures.
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The rapid increase in aging population, increasing prevalence of cardiovascular diseases, increasing prevalence of vascular disorders, growing prevalence of diabetes and escalating acceptance of minimally invasive surgeries are the primary growth drivers for the global market. For instance, according to the World Health Organization (WHO), in 2015 approximately 17.7 million people died due to cardiovascular disease worldwide. Increasing prevalence of smoking and increasing prevalence of end-stage renal disease (ESRD) are also fueling the growth of the vascular graft industry. For instance, according to the WHO, approximately 1.1 billion smokers live in low and middle-income countries.
Asia-Pacific is observed to witness fastest growth in the market as the region comprises of largest population and healthcare infrastructure is improving. In addition, growing geriatric population, increasing number of smokers, increasing medical tourism, and growing adoption of minimally invasive procedures are creating a positive impact on the vascular graft market growth in the region.
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Key players in the vascular graft industry are investing in the development of innovative and advance graft products, which is strengthening their position in the market. In January 2017, Terumo Corporation completed acquisition of vascular closure business and other assets of Abbott and St. Jude Medical. In addition, in May 2017, Medtronic announced the enrollment of first patient with end-stage renal disease in the IN.PACT AV Access Drug-Coated Balloon (DCB) study.
Medtronic Plc, Terumo Corporation, Maquet, C. R. Bard, B. Braun Melsungen AG, Lemaitre Vascular, Cardinal Health, Endologix, Cook Medical Inc., and W.L. Gore & Associates Inc., are some of the key players offering vascular graft products.
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