Vascular Patches Market, By Type (Biologic Vascular Patches, Synthetic Vascular Patches), By Application (Carotid Endarterectomy, Aortic Aneurysms, Others), By End User (Hospital and Clinics, Ambulatory Surgical Centers, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Published In : Oct 2023

Code : CMI4371

Pages :205

Formats :

Excel and PDF

Industry : Medical Devices

Vascular Patches MarketSize and Trends

The Global Vascular Patches Market is estimated to be valued at US$ 380.9 Million in 2023 and is expected to exhibit a CAGR of 7.9% during the forecast period (2023-2030).

Figure 1. Global Vascular Patches Market Share (%), By Type, 2023

Global Vascular Patches Market– Drivers

Increasing cardiovascular Diseases: The increasing prevalence of cardiovascular diseases globally is expected to propel market growth over the forecast period. For instance, according to the data published by the World Health Organization on May 15, 2023, every year, about 805,000 people in the U.S. have a heart attack.
Increasing older population: Increasing the older population globally and increasing the chances of a chronic disease like cardiovascular disease is expected to propel market growth over the forecast period. For instance, according to the data published by the World Health Organization in October 2022, in 2050, 80% of older people will be living in low- and middle-income countries. Moreover, in 2020, the number of people aged 60 years and older outnumbered children younger than 5 years.

Global Vascular Patches Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.
COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, faced problems with the transportation of things from one place to another.
However, the COVID-19 pandemic had a negative impact on the global vascular patches market, owing to a reduction in the number of surgeries performed. For instance, according to the data published by the National Center for Biotechnology Information, on July 31, 2021, there was a 52.7% reduction in adult cardiac surgery volume and a 65.5% reduction in elective cases.

Figure 2. Global Vascular Patches Market Share (%), By Region, 2023