Rising Cases of Cardiovascular and Peripheral Vascular Conditions Drive Market Expansion
The global synthetic artificial blood vessels market is on the cusp of remarkable growth, with projections indicating robust revenue expansion during the forecast period from 2021 to 2026. The market is set to benefit from the increasing prevalence of life-threatening cardiovascular and peripheral vascular cases, as well as a growing population of patients with unmet treatment needs. Fairfield Market Research predicts that the global synthetic artificial blood vessels market will witness a healthy growth rate, with a 5.7% CAGR, reaching a valuation of US$319.4 million by 2026, up from US$296.8 million in 2021.
Role of Synthetic Polymers in Advancing the Market
Synthetic polymers play a pivotal role in driving advancements in the synthetic artificial blood vessels market. These polymers offer tunable properties, a wide range of forms, and established structures that surpass those of natural polymers. Synthetic biomaterials have the potential to support the restoration of damaged or diseased tissue structure and function.
One significant advantage of synthetic polymers is their availability, which can be particularly crucial when autologous replacement is not feasible due to prior harvesting or the patients health. Moreover, synthetic polymers overcome the limitations of natural polymers, such as cost, limited supplies, batch-to-batch variation, and cross-contamination, making them valuable biomaterials.
Research Activities Drive Market Growth
The market is experiencing growth due to increased research activities and a growing demand for technologically advanced products. Examples of this include Healionics, a Seattle-based medical technology company that raised US$4.7 million to commercialize its artificial blood vessel called STARgraft for dialysis patients. Additionally, research teams from institutions like the Korea Institute of Science and Technology (KIST) and researchers in Korea and Hong Kong are actively developing bio-artificial blood vessels using innovative techniques.
Rising Cardiovascular Cases Boost Vascular Prostheses Demand
The increasing number of life-threatening cardiovascular and peripheral vascular cases is fueling the demand for vascular prostheses, including synthetic artificial blood vessels. Cardiovascular diseases, particularly those involving narrowed or blocked blood vessels, are a leading global cause of mortality. Healthcare costs associated with cardiovascular diseases exceed US$300 billion annually, underscoring the importance of effective treatments.
The Future of Bio Artificial Blood Vessels
Innovations in bioengineered blood vessels, often referred to as human acellular vessels (HAVs), are on the horizon. Companies like Humacyte are developing bioengineered blood vessels that can incorporate living cells after implantation in the human body. Such advances hold great promise for patients in need of vascular solutions.
Challenges of Synthetic Polymers
While synthetic polymers offer numerous advantages, they are not without challenges. One major limitation is their lack of cell adhesion sites, which often necessitates chemical modifications to enhance cell adhesion. Synthetic polymers also face issues related to biocompatibility, the release of acidic degradation products, and early loss of mechanical properties during degradation.
Market Dominance in Developing Regions
The global synthetic artificial blood vessels market is expected to retain its dominance in developing regions until the end of the forecast period. North America leads in terms of value contribution, owing to advanced technological facilities, favorable reimbursement policies, and robust diagnostic procedures using biometric tools. The region is expected to reach a market value of US$120.9 million by 2026, driven by increased R&D activities in advanced biomaterial grafts.
Europe also commands a significant share of the market, fueled by the growing incidence of cardiovascular issues, an aging population, and a rise in health problems such as kidney failure and aortic diseases.
Key Players in the Global Synthetic Artificial Blood Vessels Market
Prominent companies participating in the global synthetic artificial blood vessels market include B. Braun Melsungen AG, Terumo Aortic (Terumo Group), Humacyte, Inc., LeMaitre Vascular, Inc., W. L. Gore and Associates, JOTEC GmbH, Cook Medical Inc., and Bard Peripheral Vascular. These players are at the forefront of advancing technologies and solutions in the field, contributing to the markets growth and innovation.
Browse Global Synthetic Artificial Blood Vessels Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021-2026 – [2023 UPDATE Available – Forecast 2023-2030*] (By Polymer, By Application, By End user, By Geography, By Company): https://www.fairfieldmarketresearch.com/report/synthetic-artificial-blood-vessels-market
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COMTEX_440946141/2840/2023-09-26T01:54:40