Artificial Blood Vessels Market Share

On the basis of geographical analysis, the global artificial blood vessels market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific industry is set to hold largest revenue share by 2037, driven by rapid increase in healthcare awareness, growing healthcare expenditure, and increasing income levels amongst all social classes. According to the World Bank data, the GDP per capita of population in the South Asia region surged from USD 453.238 in 2000 to USD 1,959.342 in 2019. Moreover, emergence of small market players in the region is projected to fuel the market growth.

The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the presence of advanced healthcare infrastructure, and high focus on medical R&D activities. Additionally, increasing incidence of aortic diseases in the region is further anticipated to boost the artificial blood vessels market growth. According to the data by the US Centers for Disease Control & Prevention (CDC), aortic dissections resulted in 9,904 deaths in 2019 in the country.