PUBLISHER: Allied Market Research | PRODUCT CODE: 1344377
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344377
According to a new report published by Allied Market Research, titled, "Aortic Aneurysm Repair Market," The aortic aneurysm repair market was valued at $3.2 billion in 2022, and is estimated to reach $5.8 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032.
Surgical repair typically involves open surgery, where a portion of the dilated aorta is replaced with a synthetic graft. On the other hand, endovascular repair involves minimally invasive techniques, such as the insertion of a stent graft through small incisions, to reinforce the weakened segment of the aorta from within. The choice of repair method depends on factors such as the location, size, and shape of the aneurysm, as well as the patient's overall health. Aortic aneurysm repair aims to reduce the risk of complications, including rupture, and improve patient outcomes by restoring the normal structure and function of the aorta.
The market growth for aortic aneurysm repair is primarily driven by the increase in the prevalence of aortic aneurysms and related diseases. Aortic aneurysms have become more common due to factors such as the surge in aging population and the rise in incidence of risk factors such as hypertension, atherosclerosis, and smoking. In addition, according to the article published by Medscape, in 2022, hypertension is the most common disease primarily diagnosed in the U.S., affecting approximately 86 million adults (≥20 years) and is a major risk factor for stroke, myocardial infarction, and vascular disease. Thus, as the prevalence of hypertension continues to rise globally, the number of individuals at risk of developing aortic aneurysms also increases, thereby driving the market growth.
However, the market growth for aortic aneurysm repair is restrained by the lack of availability of certain devices in various developing regions and limited availability of skilled healthcare professionals. Inadequate access to advanced medical devices and technologies hampers the effective treatment of aortic aneurysms. In addition, the scarcity of skilled healthcare professionals with expertise in aortic aneurysm repair limits the capacity to deliver optimal care, further impeding market growth.
Moreover, the increase in demand for advanced healthcare services and rise in awareness of aortic aneurysm treatments are expected to provide remunerative opportunities for the expansion of the market during the forecast period. Furthermore, the upsurge in initiatives by the government for favorable reimbursement policies fuel the adoption of advanced treatments and thereby notably driving the growth of the aortic aneurysm repair market.
The aortic aneurysm repair market is segmented into product type, procedure type, and region. By product type, the market is categorized into aortic stent-grafts and hybrid stent-grafts. On the basis of procedure type, it is segregated into open surgery, endovascular aortic aneurysm repair, and frozen elephant trunk (FET). The open surgery is further categorized into abdominal open repair and thoracic open repair. The endovascular aortic aneurysm repair is further categorized into abdominal endovascular aortic aneurysm repair , thoracic endovascular aortic aneurysm repair, and others (branched endovascular aortic repair, fenestrated endovascular aortic repair, branched thoracic endovascular aortic repair (B-TEVAR)).
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America and Middle East and Africa).The key players operating in the aortic aneurysm repair market are Medtronic plc , Artivion, Inc, Terumo Corporation, W. L. Gore and Associates, Inc., MicroPort Scientific Corporation, Cook Group Inc, ENDOLOGIX LLC , Cordis Corporation., Bentley InnoMed GmbH and Braile Biomedica S.A. The key players have adopted strategies such as product launch, product approval and innovation to enhance their product portfolio.