Vascular Patches Market is projected to reach USD 517 million by 2027 from USD 353 million in 2022, at a CAGR of 7.9% during the forecast period according to a new report by MarketsandMarkets™. The vascular patches market is driven by the rising number of cardiovascular surgeries worldwide and the growing adoption of biological patches. The growth in the number of hospitals & surgical centers offers lucrative growth opportunities for the vascular patches market.
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The biologic vascular patches accounted for the largest share of the vascular patches market, by material segment, in 2021
The global vascular patches market is segmented into biological and synthetic vascular patches based on material. Market growth is largely driven by the benefits offered by biologic vascular patches over synthetic vascular patches.
The carotid endarterectomy accounted for the largest share of the vascular patches market, by application segment, in 2021
The global vascular patches market is segmented into carotid endarterectomy (CEA), open repair of abdominal aortic aneurysm (AAA), congenital heart diseases, vascular bypass surgery, and other applications, based on application. The CEA segment accounted for the largest share by application in 2021. The growth of the segment is attributed to rising number of CEA surgeries and the availability of reimbursement for the CEA procedures.
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The hospitals segment accounted for the largest share of the vascular patches market, by end user, in 2021
On the basis of end user, the vascular patches market is segmented into hospitals and ambulatory surgical centers. The rise in the occurrence of CVD has led to significant growth of the hospitals end user segment.
North America is the largest regional market for vascular patches market
The global vascular patches market has been segmented into four major regions—North America, Europe, the Asia Pacific, and the Rest of the World. In 2021, North America dominated the global vascular patches market in 2021. The large share of the North American market is primarily driven by the rising prevalence of cardiovascular diseases and the presence of key players operating in the vascular patches market.
The major players in the vascular patches market include LeMaitre Vascular, Inc. (US), Baxter International, Inc. (US), W. L. Gore & Associates, Inc. (US).
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