Market Size of Artificial Blood Vessels Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Artificial Blood Vessels Market Analysis
The people are facing problems of blocked blood vessels that can cause some extreme life-threatening conditions. Hence, it is essential to replace a damaged blood vessel either by artificial vascular prostheses or through another arteries or veins from the body. The research institutes have thus developed artificial blood vessels made from special polymers, that has exceptional mechanical properties.
Surgeons initially transplanted veins or arteries from donors to replace the damaged or diseased arteries from human body. Transplanting vessels from the patient's own body has various problems such as, development of arteriosclerosis and several post-surgery complications. Hence, to avoid such difficulties, artificial blood vessels were created by researchers, thus augmenting market growth.
However, presence of a stringent regulatory framework for the approval of artificial vessels will limit market growth. Moreover, high cost associated with transplants and surgeries will further impede market growth.
Artificial Blood Vessels Industry Segmentation
As per the scope of the report, artificial blood vessels are tubes made from synthetic (chemically produced) materials to restore blood circulation.These synthetic blood vessels are manufactured by using biosynthetic materials such as polyethylene terephthalate and Polydioxanone owing to high water and chemical resistance, high conductivity and high permeability to oxygen.
In the report, a detailed analysis of the artificial blood vessels market is provided. The market is evaluated by collating revenues generated across segments, categorized by Application, Polymer, and Geography.
| By Application | |
| Aortic Disease | |
| Peripheral Artery Disease | |
| Hemodialysis |
| By Polymer | |
| Polydioxanone | |
| Elastomer | |
| Polyethylene Terephthalate | |
| Others |
| Geography | ||||||||
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Artificial Blood Vessels Market Size Summary
The artificial blood vessels market is driven by the increasing need to address life-threatening conditions caused by blocked blood vessels. Traditional methods of using donor veins or arteries have limitations, such as the risk of arteriosclerosis and post-surgery complications, prompting the development of artificial vascular prostheses made from advanced polymers with superior mechanical properties. These innovations are crucial for replacing damaged blood vessels, particularly in cases involving the aorta, the body's largest artery, which is susceptible to various diseases like atherosclerosis and hypertension. The growing geriatric population is expected to further increase the prevalence of aortic diseases, thereby boosting the demand for artificial blood vessels.
North America dominates the artificial blood vessels market, supported by a robust healthcare infrastructure and technological advancements. The rising incidence of aortic diseases, particularly in the United States, is a significant factor contributing to market growth. The presence of global market players in North America, encouraged by favorable research and development policies, further strengthens the market. While the high cost of transplants and stringent regulatory approvals pose challenges, the market continues to expand, with key players like B. Braun Melsungen, Terumo Medical Corporation, and Medtronic leading the way. Additionally, the Asia-Pacific region is witnessing the emergence of smaller players, contributing to market growth through increased awareness and demand.
Artificial Blood Vessels Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Aortic Diseases
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1.2.2 Growing Adoption of Minimally Invasive Surgeries
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1.2.3 Technoloigical Advancements in Development of Artificial Blood Vessels
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1.3 Market Restraints
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1.3.1 High Cost Associated with Transplants and Surgeries
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Application
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2.1.1 Aortic Disease
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2.1.2 Peripheral Artery Disease
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2.1.3 Hemodialysis
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2.2 By Polymer
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2.2.1 Polydioxanone
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2.2.2 Elastomer
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2.2.3 Polyethylene Terephthalate
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2.2.4 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle-East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Artificial Blood Vessels Market Size FAQs
What is the current Artificial Blood Vessels Market size?
The Artificial Blood Vessels Market is projected to register a CAGR of 5.30% during the forecast period (2024-2029)
Who are the key players in Artificial Blood Vessels Market?
B. Braun Melsungen, Terumo Medical Corporation, Medtronic, Cook Medical Incorporated and Becton, Dickinson and Company are the major companies operating in the Artificial Blood Vessels Market.
