The global endovascular treatment devices market size reached USD 2.60 Billion in 2021 and is expected to register a revenue CAGR of 7.3% during the forecast period, according to latest analysis by Emergen Research.
The global endovascular treatment devices market size reached USD 2.60 Billion in 2021 and is expected to register a revenue CAGR of 7.3% during the forecast period, according to latest analysis by Emergen Research. The growing prevalence of cardiovascular diseases and rising geriatric population are some of the major factors driving the growth of the global endovascular treatment devices market. In addition, the increasing demand for minimally invasive procedures and the growing adoption of endovascular procedures are some of the other factors driving the growth of the market. However, the high cost of endovascular procedures and devices is a major factor restraining the growth of the global endovascular treatment devices market.
The increasing prevalence of cardiovascular diseases and injuries is one of the major factors driving growth of the market. According to the World Health Organization (WHO), around 17.9 million people died from cardiovascular diseases in 2016, which represented 31% of global deaths. Moreover, the WHO estimates that the number of deaths due to cardiovascular diseases will rise to more than 23.6 million by 2030.
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The growing adoption of minimally invasive surgeries is another major factor driving growth of the market. Minimally invasive surgery is associated with shorter hospital stays, lower risk of infection, and faster recovery times as compared to traditional open surgery. This is resulting in rising demand for minimally invasive surgeries, which in turn is driving growth of the endovascular treatment devices market.
Endovascular Treatment Devices are used for the treatment of conditions related to blood vessels, such as aneurysms, strokes, and arterial or venous blockages. Endovascular procedures are minimally invasive procedures that are performed using catheters and other devices that are inserted through small incisions in the skin. Some of the major types of endovascular treatment devices include cerebral aneurysm coils, carotid artery stents, peripheral vascular stents, and inferior vena cava filters. These devices are used in a variety of endovascular procedures such as angioplasty, thrombectomy, and embolization.
Some Key Highlights From the Report:
- Some major companies operating in the global market report include Cardinal Health, Endospan, Getinge AB, Boston Scientific Corporation, InspireMD, Japan Lifeline Co., Ltd., Medtronic, Lombard Medical, Penumbra, Inc., and Terumo Corporation.
- Top companies are focused on adopting strategies such as product launches, mergers & acquisitions, and partnerships to expand their product portfolio and strengthen their position in the market. For instance, in March 2020, Cook Group Incorporated acquired Vascular Solutions, Inc., a provider of vascular products for diagnosis and treatment of peripheral vascular disease. Similarly, in February 2021, Medtronic plc announced the launch of its Resolute Onyx drug-coated balloon (DCB) for the treatment of peripheral artery disease (PAD). The company also launched its Solitaire Prime Stent System, which is indicated for revascularization in patients with acute ischemic stroke.
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- Percutaneous EVAR segment accounted for largest revenue share in 2021 due to the favorable reimbursement policies and large patient pool. For instance, in October 2020, CMS proposed new HCPCS codes for percutaneous endovascular aneurysm repair (EVAR) devices. These new codes would improve patient access to this life-saving procedure.
- The endovascular stent grafts segment accounted for largest revenue share in 2021 due to the high prevalence of abdominal aortic aneurysms and the availability of new stent grafts for the treatment of abdominal aortic aneurysms. Also, the global endovascular stent grafts market is expected to grow at a CAGR of over 9% during the forecast period.
- The AAA stent segment is projected to grow at the highest CAGR during the forecast period due to the high prevalence of abdominal aortic aneurysms and the availability of new stent grafts for the treatment of abdominal aortic aneurysms.
- The endovascular aneurysm repair (EVAR) devices segment is projected to grow at the highest CAGR during the forecast period due to the growing number of clinical trials evaluating the efficacy of EVAR devices and the availability of new stent grafts for the treatment of abdominal aortic aneurysms.
- The aortic stent grafts segment is expected to grow at the highest CAGR during the forecast period due to the growing number of clinical trials evaluating the efficacy of aortic stent grafts and the availability of new stent grafts for the treatment of abdominal aortic aneurysms.
- The thoracic aortic aneurysms segment is expected to grow at the fastest CAGR during the forecast period. This growth can be attributed to the technological advancements in stent grafts and the increasing awareness about the early diagnosis and treatment of thoracic aortic aneurysms.
- In terms of revenue, North America held the largest share in the global endovascular treatment devices market in 2020, followed by Europe and Asia Pacific. The large share of North America can be attributed to the increasing prevalence of cardiovascular diseases, growing geriatric population, and availability of advanced healthcare infrastructure in the region. According to the Centers for Disease Control and Prevention (CDC), around 610,000 people die of heart disease in the U.S. every year, which represents 1 in every 4 deaths. Moreover, the CDC estimates that around 735,000 Americans suffer from a myocardial infarction (heart attack) each year.
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Emergen Research has segmented the global endovascular treatment devices market on the basis of product, procedure, application, and region:
- Product Outlook (Revenue, USD Billion; 2019-2030)
- Percutaneous Endovascular Aneurysm Repair (EVAR)
- Fenestrated EVAR
- Aortic Stents Biodegradable Stents
- Self-Expanding Nitinol Stents
- Thoracic Aortic Aneurysm Grafts
- Other Devices
- Procedure Outlook (Revenue, USD Billion; 2019-2030)
- Balloon Angioplasty
- Angioplasty with Stent Replacement
- Drug-Eluting Stents (DES) Renal Artery Angioplasty
- Stenting Carotid Artery Stenting
- Thrombolysis
- Renal Artery Angioplasty and Stenting
- Transfemoral Carotid Artery Stenting
- Trans carotid Artery Revascularization
- Intravascular Brachytherapy
- Carotid Artery Stenting
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Pulmonary
- Vascular
- Cardiology Surgery
- Neurology
- Radiology
- Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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