Endovascular Aneurysm Repair Devices Market Overview
The global endovascular aneurysm repair devices market could record a CAGR of 6.4% during the forecast period (2023-2030), reveals Market Research Future (MRFR).
Growth Drivers and Top Barriers
Aortic aneurysm refers to the weakening and bulging of the aorta. This bulging leads to a leak that could spill blood within the bod, directing the blood flow away from the tissues and organs. This causes extreme complications, including heart attacks, stroke, kidney damage, and even death. Therefore, endovascular repair takes place by keeping a stent-graft in an aneurysm via a tiny hole in the blood vessels located at the groin area.
Some growth-inducing factors in the endovascular aneurysm repair devices market include low-cost hospitalization charges, technological advancements in repair devices, and short reduced recovery times. To illustrate, in 2021, Terumo Corporation had acquired Bolton Medical, Inc., with the latter being a prominent innovator in thoracic and abdominal stent graft systems. With this acquisition, Terumo Corporation strived to expand its growth in the vascular graft field.
Surging adoption of endovascular stent-grafts along with the development of next-generation stent-graft could benefit the market during the review period. Also, soaring awareness within the developing economies about the wide range of aortic aneurysm devices works in favor of the global endovascular aneurysm repair market.
Market Segmentation
The worldwide market for endovascular aneurysm repair devices has been segmented on the basis of indication, site, anatomy, and products.
The market, depending on the indication, has been considered for abdominal aortic aneurysm, thoracic aortic aneurysm, and others. The types of thoracic aortic aneurysm are ascending aortic aneurysm, descending aortic aneurysm, thoracoabdominal aortic aneurysm, and thoracic arch aortic aneurysm.
The market, site-wise, has been considered for infrarenal and pararenal. The market, with respect to the pararenal site, caters to juxtarenal and suprarenal.
The market, anatomy-wise, covers traditional and complex.
The market, with regard to the products, mentions percutaneous EVAR, fenestrated EVAR, aortic stents and TAA grafts, and others.
Regional Analysis
The endovascular aneurysm repair devices market trends report is spread across the primary regions of Europe, Asia Pacific, Middle East, and Africa, and the Americas.
The supreme growth of the endovascular aneurysm repair devices market has been noted in the Americas. The prime reason behind the superlative growth can be the expanding geriatric population along with the highly -developed healthcare sector. The Centers for Disease Control and Prevention (CDC) gauges abdominal aortic aneurysm to be among the leading 15 causes of mortality within the United States (U.S.).
Europe is projected to hold the second position in the worldwide endovascular aneurysm repair devices market. The regional market gets ample support from the rising prevalence of aneurysms, favorable reimbursement scenario, and availability of funds for research. Apart from this, esteemed players in the region are nursing next-generation EVAR products, aiming to expand and evolve. This helps generate momentum to trigger market growth.
Asia Pacific could expand at the fastest pace owing to the presence of a massive patient population combined with the continuously developing nations. Consistently improving healthcare infrastructure and rising number of surgeons could lead the regional market to greater heights in the years ahead.
Lastly, Middle East Africa has been identified as the smallest market for endovascular aneurysm repair devices. Most of the market is concentrated in the Middle East as a result of the increasing government initiatives for the healthcare industry.
Renowned Companies
Endospan Ltd., BiFlow Medical Ltd, Endologix, INC., Jotec GmbH, Medtronic plc, Terumo Corporation, W. L. Gore Associates, Inc., Cardiatis SA, Boston Scientific Corporation, Cook Medical LLC, Endoluminal Sciences Pty Ltd, Cardinal Health, Braile Biomédica, Lemaitre Vascular Inc., Getinge AB, are the top players in the worldwide endovascular aneurysm repair devices market.
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