The global abdominal aortic aneurysm repair devices market size is expected to reach USD 3.88 Billion in 2030 and register a CAGR of 7.2%, according to the latest report by Reports and Data.
The global abdominal aortic aneurysm repair devices market size is expected to reach USD 3.88 Billion in 2030 and register a CAGR of 7.2%, according to the latest report by Reports and Data. Technological advancements in surgical procedures, increasing prevalence of obese patients, and other conditions such as syphilis, atherosclerosis, and cystic necrosis, and rising public awareness are key factors boosting global market revenue growth.
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An abdominal aortic aneurysm is a condition in which results in enlargement of lower part of aorta which generally affects the geriatric population and is majorly caused by prolonged consumption of alcohol, tobacco, and smoking. Factors such as increasing elderly population, favorable reimbursement schemes, availability of technologically developed abdominal aortic aneurysm repair devices and improvements in the healthcare systems and infrastructure are supporting global market growth. In addition, advancements in aneurysm repair procedures, increasing healthcare spending, and increasing investments to develop more enhanced abdominal aortic aneurysm repair devices are expected to boost market growth going ahead. However, factors such as high cost of minimally invasive surgeries, stringent regulations and restrictions on product launches, and dearth of favorable insurance policies in certain countries are expected to hamper overall growth of abdominal aortic aneurysm repair devices market throughout the forecast period.
Some key highlights in the report:
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- Among the products, the stents segment is expected to register rapid revenue growth throughout the forecast period owing to high usage of stents for treating an abdominal aortic aneurysm. The stent graft is a tube covered with thin polyester fabric that is opened inside the aorta and fastened in place that protects the aorta and stops the aneurysm from bursting.
- Based on product type, the endovascular aortic repair is expected to account for significant revenue share over the forecast period. Endovascular aortic repair is highly preferred over open surgery as it requires minimum invasion, less hospital stay, and quick recovery.
- Based on end use, the hospital segment is expected to account for largest revenue share between 2021 and 2028 owing to availability of latest abdominal aortic aneurysm repair devices, increasing number of surgical procedures, and high demand for minimally invasive methods.
- North America is expected to account for robust revue share over the forecast period owing to factors such as increasing adoption of abdominal aortic aneurysm repair devices, availability of technologically advanced devices, presence of well-established healthcare systems, rising geriatric population, and high public awareness about diagnosis and treatment for abdominal aortic aneurysm.
- The abdominal aortic aneurysm repair devices market in Asia Pacific is expected to register rapid revenue growth between 2021 and 2028. Rising disposable income, improvements in the healthcare facilities, increasing adoption of minimally invasive surgeries, and large geriatric patient pool are some of the key factors boosting market growth in Asia Pacific.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
Cook Medical Inc., Endologix, Inc., W. L. Gore & Associates, Inc., AbbVie Inc., Medtronic Plc., Cardinal Health Inc., Cardiatis S.A., C. R. Bard, Inc., Lombard Medical, Inc., Terumo Corporation, WefernLife, Braile Biomdica, and MicroPort Scientific Corporation.
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Abdominal Aortic Aneurysm Repair Devices Market Segmentation:
Product Type Outlook (Revenue, USD Billion; 2019–2030)
- Stents
- Catheters
- Balloon Pumps
- Wires
- Others
Anatomy Outlook (Revenue, USD Billion; 2019–2030)
- Traditional Anatomy
- Complex Anatomy
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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