The size of the Latin America Vascular Graft Market is projected to be growing at a steady CAGR between 2024 to 2029. The Latin America Vascular Graft Treatment market is developing at a rapid pace.
The vascular graft market in Latin America is majorly driven by the proliferation of chronic diseases such as diabetes and final-stage renal illness across the region. Dialysis, which individuals with ESRD widely use, is the only alternative to kidney transplantation. Three times a week, hemodialysis is performed. Many patients' superficial veins have become depleted due to continuous dialysis, and vascular grafts are the only way to continue hemodialysis. On the other hand, supportive government policies and the increasing prevalence of cardiovascular diseases, heart attacks, high blood pressure influence the Latin American vascular graft market.
The rising number of minimally invasive direct coronary artery bypass (MIDCAB) procedures is expected to facilitate market growth across the region. In addition, the development of more favorable surgical methods using coronary artery stents and grafts is projected to boost demand for these products. Furthermore, the growth of vascular conduits with increased porosity and efficiency is projected to have a high penetration rate during the forecast period.
Emerging economies such as Brazil and Mexico provide considerable growth prospects for competitors in the vascular grafts market. Because Brazil has the highest proportion of older people, growth in this population segment will increase aortic aneurysms. Because of their comparably lax regulatory regulations and the rising prevalence of aneurysms, these markets are projected to grow rapidly in the coming years. Major players were prompted to expand their geographic reach into emerging markets as a result of this. Medtronic Inc. (US) opened its Latin America regional headquarters to assist and strengthen its operations in 80 locations.
However, several firms' products have been recalled from the market due to product faults or other difficulties over the years. In addition, end-user perceptions of graft safety may be harmed due to market trends, affecting their acceptance in treatment processes. For almost 30 years, the vascular graft market has met the difficulties of the most demanding vascular surgeries. However, they have won the support of famous surgeons throughout the region for their remarkable performance and quality. These grafts don't need to be pre-clotted, they don't dilate or spread infection, and they're thrombectomy safe. Stretch and non-stretch Gore vascular grafts are available in various designs, including straight, tapered, bifurcated, and many with externally modifiable ring reinforcement.
By Country:
Geographically, the Latin American market is anticipated to account for a moderate share in the global vascular grafts market during the forecast period. The Latin American market growth is primarily attributed to the high prevalence of chronic diseases like diabetes and cardiovascular disease and the associated demand for surgical therapies. Also, improving healthcare infrastructure, healthcare spending by the government is fuelling the market growth. Moreover, Latin America is expected to be the fastest processing market for vascular grafts during the projected period. The movement of the Latin American market is mainly attributed to the rapid evolution of healthcare systems and the expanding penetration of major market participants in light of rising healthcare spending. The major countries in the region, such as Brazil, Mexico, and Argentina, significantly contributing to the Latin American regional market growth.
The Brazilian market dominated the Latin American vascular grafts market in 2020, and it is anticipated to continue its dominance throughout the forecast period. The market growth is expected to be contributed by the increasing awareness of chronic disease treatment and management and supportive government policies.
Endologix Inc., LeMaitre Vascular, Inc., MAQUET Holding B.V.B. Braun Melsungen AG, & Co. KG, Medtronic plc, C. R. Bard, Inc., Cardinal Health Inc., Cook Medical Inc., Terumo Corporation, and W. L. Gore & Associates, Inc. are the key players in the Latin America Vascular Graft market.
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