An aneurysm is widening of an artery. Aorta is a large artery that delivers blood from the heart to the body organs. If an aneurysm occurs in the aorta it can expand and may rupture, resulting in death. Increasing aging population and prevalence of aortic aneurysm are the key factors expected to impel the growth of the aortic stents grafts market. Prevalence of abdominal aortic aneurysm (AAA) rises with the age, especially after 60 years of age. Likewise, the number of AAA patients could increase with aging population. Abdominal aortic aneurysm is the common disease in Western countries; the prevalence of AAA is 2–5% in men greater than 65 years and 1–2% among women over 65 years old.
Aortic stent graft is the new treatment option for aneurysm. This treatment involves an artificial stent graft, delivered through an arterial blood vessel in the groin, fixed over the widening. This technique is called endovascular repair. There are different types of stent grafts available for aortic aneurysm. They can differ based on deployment techniques, design, and material they are made of. Aortic stent grafts are basically used for abdominal and thoracic aortic aneurysm endovascular repair. In this report, the aortic stent grafts market is further categorized into product type and end user. The report analyses the demand for hospitals, ambulatory surgical centres and outpatient surgical centres for different regions.
Market Value and Forecast
In terms of revenue, the global aortic stent grafts market is projected to expand at 7.6% CAGR over the forecast period of 2018–2028, and is expected to be valued at US$ 4,818.5 Mn by 2028 end.
The global demand for aortic stent grafts is growing as a result of increasing prevalence of aortic aneurysm. Increasing adoption of endovascular repair over open surgical repair and rising life expectancy rate are expected to create favourable market prospects for the players operating in the aortic stent grafts market. Besides, favourable reimbursement policies and increasing adoption of minimally invasive surgeries among physician and patients are also propelling the growth of the aortic stent grafts market. Increasing number of clinical trials and FDA approvals for improvement of aortic stent grafts designs has yielded new and better products to overcome anatomical constraints. Likewise, increasing partnerships and mergers among the key market players for research and development and geographical expansion are some other factors expected to boost the aortic stent grafts market growth.
However, product recalls, lack of trained healthcare providers, less awareness regarding new EVAR treatment options among the general population and risk of endoleaks and other complications associated with the stent graft implants are the some of the factors expected to hamper the growth of the aortic stent grafts market.
Geographically, the global aortic stent grafts market is segmented into seven major regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific (Asia-Pacific excluding Japan), Japan and the Middle East & Africa (MEA). In terms of value, North America dominated the global aortic stent grafts market in 2017 and is expected to expand at a healthy CAGR over the forecast period of 2018–2028. Japan is expected to be the fast-growing market, in terms of revenue growth, in the global aortic stent grafts market, registering double digit growth over 2018–2028.
Examples of some of the key players identified in the global aortic stent grafts market are Cook Medical, Inc., W.L. Gore & Associates, MicroPort Scientific Corporation Inc., Medtronic Plc., Lombard Medical, Inc., Endologix, INC., Terumo Corporation Inc., Cardinal Health Inc., Becton, Dickinson and Company, Cryolife Inc., and Lombard Medical Inc., among others. Merger & acquisition activities are emerging as the prominent trend among the key market players operating in the aortic stent grafts market.
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