The vascular graft global market consists of sales of vascular grafts and related services by entities (organizations, sole traders and partnerships) that manufacture vascular grafts that are used to repair the diseased or blocked blood vessel during the surgical procedure called vascular grafting or vascular bypass. Vascular grafting is performed to bypass a partial or complete blockage in an artery by reconnecting the blood vessels. This process will improve the blood flow by redirecting blood from one area of the body to another. Vascular grafts are mainly used in the heart during coronary artery bypass and in legs to treat vascular disease.
The global vascular graft market is expected to decline from $2.79 billion in 2019 to $2.6 billion in 2020 at a compound annual growth rate (CAGR) of -6.98%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $3.27 billion in 2023 at a CAGR of 8.02%.
