Artificial Blood Vessels Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
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.
The aorta is the largest artery in the body. Oxygen-rich blood enters the aorta and the heart pumps the blood out of the aorta where it travels to the rest of the body via the smaller arteries that branch out from it. A variety of diseases and conditions can cause damage to the aorta and put patients at great, life-threatening risk. Those conditions include atherosclerosis, hypertension, genetic conditions, connective tissue disorders, and injury.
As per a report 2015 report by D. P. J. Howard et al., published in Wiley Online Library, the incidence of acute abdominal aortic aneurysm (AAA) events per 100 000 population per year was 55 in men aged between 65 and 74 years, but increased to 112 at age between 75 and 84 years and to 298 at age 85 years or above. Therefore as the geriatric population is increasing as per 2017 report on "World Aging Population" by the United Nations. Hence, the prevalence of aortic diseases is expected to increase in the future.
When aneurysm ruptures, surgery is needed. Surgery thus involves removing the section of aorta where the aneurysm is and replacing it with an artificial blood vessel. Therefore with the increasing incidence, artificial blood vessels application is expected to increase and this in turn will help the market growth.
North America holds the major share of the market due to well-developed healthcare infrastructure, and technology advancements in this region.
Besides, growing prevalence of aortic diseases in the U.S. is also likely to boost market growth. As per Center for Diseases Control and Prevention 2019 report, aortic aneurysms were the cause of 9,928 deaths in 2017 in the United States. The number of smokers, who are more prone to aortic diseases are also incresing in the US.Hence, growing burden of such diseases will augment the artificial blood vessels market.
However, the United States also have a developed and well-structured health care system. These systems also encourage research and development. These policies encourage global players to enter the US and Canada. As a result, these countries enjoy the presence of many global market players. As high and increasing demand is met by the presence of global players in the region, the market is further expected to increase.
Majority of the artificial blood vessels are being manufactured by the global key players. Market leaders with more funds for research and better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the rise of awareness. This has also helped the market grow.