The global vascular patches market is projected to reach USD 517 million by 2027 from USD 353 million in 2022, at a CAGR of 7.9% during the forecast period. The vascular patches market is driven by the growing geriatric population and subsequent prevalence of vascular diseases and rise in the number of cardiovascular surgeries worldwide.
The top players in vascular patches market are LeMaitre Vascular, Inc. (US), Baxter International, Inc. (US) and W. L. Gore & Associates, Inc. (US). These players lead the market because of their extensive product portfolios. These players have also invested in organic strategies such as acquisition, increased production capacity, and other growth strategies to maintain their market shares.
Baxter International, Inc. (US) was the largest player in 2021, with a 15-18% share. Baxter International, Inc. offers the VASCU-GUARD Peripheral Vascular Patch. The company has a strong geographic presence across North America, Latin America, Europe, Asia, and the Middle East & Africa. The company derives most of its revenues from the US.
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LeMaitre Vascular, Inc. (US) manufactures XenoSure Biologic Patch, a high-quality bovine pericardium patch for precise closure during endarterectomy and vascular reconstruction procedures. The company has undertaken inorganic strategies to strengthen its position in the vascular patches market. In July 2020, LeMaitre Vascular acquired Artegraft’s manufacturing facility in North Brunswick, US. The acquisition has enabled the company to strengthen its biologic vascular patches market offering.
W. L. Gore & Associates, Inc. (US) held the third position in the vascular patches market in 2021. The company offers synthetic vascular patches in the market. The company’s portfolio includes surgical meshes, vascular grafts, sutures, endovascular and interventional devices, and staple line reinforcement materials. With more than 45 million devices implanted worldwide, the company is among the world’s leaders in membrane technology and biomaterials.
Vascular Patches Market by Material (Biologic, Synthetic), Application (Open Repair of Abdominal Aortic Aneurysm, Congenital Heart Disease, Carotid Endarterectomy), End User (Hospitals, Ambulatory Surgical Centers) - Global Forecast to 2027
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