Aortic Aneurysm Repair Devices Global Market estimated to be worth $3,448.2 million by 2023
The aorta is the main artery in the body that carries oxygen-rich blood from the heart to other parts of the body. An aortic aneurysm refers to an enlargement (or dilation) of the aorta to greater than 1.5 times normal size. Aortic aneurysm symptoms often do not show up until an aneurysm becomes large or bursts and cause bleeding or even death. But as it grows, some signs including, chest or back pain, difficulty breathing or swallowing, shortness of breath, coughing, hoarseness can be noticed. Other causes for an aneurysm may include, high blood pressure, infection, plaque build-up in arteries (atherosclerosis), smoking, high cholesterol and sudden traumatic injury. Based on the location, an aortic aneurysm is classified into two type’s Abdominal Aortic Aneurysm (AAA) and Thoracic Aortic Aneurysm (TAA). According to IQ4I analysis, the Aortic Aneurysm repair devices global market is expected to grow at a mid single digit CAGR from 2016-2023.
Rising geriatric population, increasing the number of lifestyle diseases, growing acceptance for minimally invasive endovascular surgeries and technological advancements in EVAR are expected to propel the growth of Aortic Aneurysm Repair Devices global market. However, some issues like risks associated with endovascular procedures such as endoleaks, radiation exposure and high costs of endovascular aneurysm repair procedures may hinder the growth of Aortic Aneurysm repair devices market.
The Aortic Aneurysm Repair Devices global market by site is segmented into Abdominal Aortic Aneurysm (Infrarenal and Perarenal) and Thoracic Aortic Aneurysm (Ascending, Descending, Thoracoabdominal and Aortic Arch). The Abdominal Aortic Aneurysm contributed the largest revenue in 2016 as per estimates of IQ4I Research. Thoracic Aortic Aneurysm is expected to grow at the highest CAGR by 2023. The Aortic Aneurysm Repair Devices global market by products is segmented into Stent grafts, Catheters and Others. The stents grafts occupied highest market in 2016 of Aortic Aneurysm Repair Devices product market.
The Aortic Aneurysm Repair Devices global market by Repair Type is segmented into Abdominal Aortic Aneurysm and Thoracic Aortic Aneurysm. Abdominal Aortic Aneurysm is segmented into Open surgery repair and Endovascular aortic repair (EVAR). The endovascular aneurysm repair occupied largest market share in Abdominal Aortic Aneurysm Repair Devices by repair type market and is expected to grow at a high CAGR. Thoracic Aortic Aneurysm by repair type is segmented into Open surgery and Thoracic endovascular aneurysm repair (TEVAR). The Thoracic endovascular aneurysm repair contributed the largest revenue and is expected to grow at a high CAGR as per estimates of IQ4I Research.
The Aortic Aneurysm Repair Devices global market based on geography is divided into North America, Europe, Asia-Pacific and Rest of the world. North American region commanded the largest revenue in 2016 due to advanced healthcare infrastructure, constant technological innovations, increase in lifestyle diseases and growing acceptance for minimally invasive endovascular surgeries. However, Asia-pacific region is expected to grow at the highest CAGR due to due to changing lifestyle, increasing healthcare expenditure and growing public awareness towards minimally invasive surgeries.
Some of the prominent players in aortic aneurysm repair devices market include Bolton Medical (U.S.), Cook Medical (U.S.), Endologix, Inc. (U.S.), Lombard Medical Technologies (U.K.), Medtronic plc (Ireland), MicroPort Scientific Corporation (China),Terumo Medical Corporation (Japan), W.L. Gore and Associates, Inc. (U.S). Some of the emerging players are JOTEC GmbH (Germany), LifeTech Scientific Inc. (China), Endospan (Israel), Nano Endoluminal S.A. (Brazil), Braile Biomedica (Brazil) etc.