E-Commerce is fastest growing segment fueling the growth of Vascular Patches market

 

The global Vascular Patches Market is estimated to be valued at US$ 380.9 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Vascular patches are medical devices used in cardiovascular surgeries for vascular reconstruction and repair of blood vessels. They are made of both synthetic and biological materials with hemostatic properties to stop bleeding at the surgical site. They come in a variety of sizes and shapes depending on the size of the defect in the blood vessel or cardiovascular structure.

Market key trends:
One of the key trends in the vascular patches market is the increasing adoption of e-commerce platforms by key players. E-commerce sites are enabling ease of purchasing and home delivery of these patches thus improving their access. They are also helping vendors reach global customer base and promote their products through various marketing campaigns on websites and social media platforms. This is fueling the growth of online sales channel for vascular patches.
Segment Analysis
The global vascular patches market is segmented based on product, material, end-user, and region. Based on product, the market is segmented into biological vascular patches and synthetic vascular patches. The biological vascular patches segment dominated the market in 2023 due to the ability of biological patches to support tissue regrowth and healing. Based on material, the market is segmented into polyester, PTFE, collagen, and others. The PTFE material segment dominated the market as PTFE patches are highly biocompatible and durable. Based on end-user, the market is segmented into hospitals and clinics. The hospitals end-user segment dominated the market due to the availability of advanced medical facilities and surgeons in hospitals.

Key Takeaways
The global vascular patches market size is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing prevalence of cardiovascular diseases.

Regional analysis - North America dominated the global market in 2023 and is expected to continue its dominance over the forecast period. This is attributed to the rising burden of cardiovascular diseases and growing geriatric population in the region requiring vascular patch implantation.

Key players operating in the vascular patches market are B. Braun Melsungen AG, C. R. Bard, Inc., LeMaitre Vascular, Inc., Getinge AB, W. L. Gore & Associates, Inc., Edwards Lifesciences Corporation, Baxter International Inc., CryoLife, Inc., Medtronic, and Admedus. The key players are involved in new product launches and strategic collaborations to strengthen their market position. For instance, in 2022, Admedus launched a novel range of cardiac and vascular patches.

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