The vascular patches market in Europe is predicted to be worth USD 185.4 million in 2028 from USD 130.4 in 2023, growing at a CAGR of 7.29% from 2023 to 2028.
The growing geriatric population and increasing incidence of CVDs across Europe are majorly driving the growth of the vascular patches market in Europe. According to the data published by Eurostat, an estimated 21.1% of the total European population was aged more than 65 years. As per European Heart Network, an estimated 3.9 million people died of cardiovascular diseases in Europe, which accounted for 45% of all deaths in Europe in 2017. CVDs are the main reason for the increased mortality rate in the European region and some of the main reasons for heart diseases are an increase in fatty substances in the body and a decrease in blood flow to the heart. Nearly 60 million people die annually due to heart disease in Europe. Peripheral vascular disease is the most common condition seen in the older population. Some common reason for peripheral vascular diseases is the narrowing of the arteries, mainly caused by affecting the lower limbs. Vascular patches are primarily used in cardiac and vascular surgery. The patching process is also used for arteriotomy closure after thrombectomy or embolectomy procedures and during surgery for venous diseases.
The growing adoption of technological advancements to manufacture various types of vascular patches is another notable factor contributing to the growth of the European vascular patches market. Manufacturers in Europe are focusing on developing biodegradable and synthetic patches to improve their usage. Increasing research and development also boosts the European market growth. Three-dimensional engineered cardiovascular tissues have proven to have possibilities to replace damaged structures and manufacturers want to develop a hybrid 3D print with vascular smooth muscle cells. Increasing investment by private and public organizations and increasing product approvals drive the market forward.
On the other hand, the scarcity of skilled professionals in the European region is majorly hampering the growth of the European vascular patches market. In addition, the lack of awareness about vascular patches, the high cost of vascular patches, and the increasing risk of infections after having the vascular patches hinder the growth rate of the European market. Furthermore, the postoperative complications that may occur due to differences in compliance of the patch and intact native artery and abnormal blood flow in the anastomotic area lead to neointimal hyperplasia.
This research report on the European vascular patches market has been segmented and sub-segmented into the following categories:
By End User:
The European vascular patches market held a substantial share of the worldwide market in 2022 and is predicted to witness a noteworthy CAGR during the forecast period owing to the increasing adoption of advanced medical devices and healthcare products by the European population and growing demand for value-based healthcare. Increasing investments by the governments of European countries to develop vascular patches of different sizes is resulting in the growth of the European market. In addition, the growing number of awareness programs by the governmental and non-governmental organizations of the European region regarding the benefits of using vascular patches after heart-related and vascular surgeries is further fuelling the growth rate of the European market.
The UK vascular patches market is predicted to capture the largest share of the European market during the forecast period owing to the growing number of training centers for healthcare providers to make perfection in applying the vascular patches to the patients who undergo surgeries to reduce the compilation and side effects. Increasing manufacturing centers in the European region also favors the UK market growth.
Germany accounted for a considerable share of the European market in 2022 and is expected to witness a healthy CAGR during the forecast period owing to the growing adoption of treatment procedures of vascular patches by German hospitals. Furthermore, the increasing success rate of vascular patches and increasing reimbursement policies in the country also help with the market's demand. Several schemes have been implemented by the government which provide vascular patch treatment to patients at low prices. In addition, increasing clinical trial centers for testing vascular patches usage and increasing benefits of using the patches in the region boost the market growth.
KEY MARKET PLAYERS:
Baxter International Inc., C.R. Bard Inc., LeMaitre Vascular Inc., W.L. Gore & Associates Inc., Admedus Ltd., CryoLife Inc. and B. Braun Melsungen AG are some of the major companies in the European vascular patches market.
The Europe vascular patches market size is estimated to be USD 130.4 million in 2023.
The growing prevalence of cardiovascular diseases, the aging population, and the rising demand for minimally invasive surgical procedures are propelling the European vascular patches market.
Regulatory hurdles, the high cost of materials, competition from alternative products, and concerns over the long-term durability of vascular patches are majorly challenging the growth of the European vascular patches market.
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