Abdominal Aortic Aneurysm Repair Devices Market

SKU: DMMD5059 | Last Updated On: Jan 09 2023 | Available Formats

>Abdominal Aortic Aneurysm Repair Devices Market Expected to reach a high CAGR 5.9% By 2029:

Abdominal Aortic Aneurysm Repair Devices Market is Segmented By Product (Stent Graft, Synthetic Stent Graft, Catheter, Guidewire, Vascular Closure Devices, Balloon Inflation Devices), By Site (Infrarenal Abdominal Aortic Aneurysm, Pararenal Abdominal Aortic Aneurysm), By Application (Traditional Anatomy, Complex Anatomy), By End User (Hospital, Ambulatory Surgical Centers, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029.

Gbdominal aortic aneurysm repair devices market size was valued at US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

An abdominal aortic aneurysm is an abnormal expansion of the abdominal aorta, most commonly the infrarenal and aortoiliac arteries (AAA). If the AAA bursts, it can be fatal. It is most prevalent in smokers. Large or rapidly growing aneurysms should be surgically repaired.

Abdominal Aortic Aneurysm Repair Devices Market Dynamics

The market for abdominal aortic aneurysm (AAA) repair devices has grown significantly over the last decade, owing to the adoption rate of minimally invasive techniques and treatments. Furthermore, an increase in undiscovered opportunities in complicated anatomy treatments and an increase in spending on endovascular treatment in emerging countries drive the growth of the abdominal aortic aneurysm (AAA) repair devices market.

Increasing adoption of minimally invasive surgeries over open surgeries will drive the market growth   

An abdominal aortic aneurysm (AAA) is a condition that primarily affects people over 65. Because of technological advances in aneurysm repair treatments, the market for abdominal aortic aneurysm repair devices is rapidly expanding. Endovascular stent grafting is used to treat abdominal aortic aneurysms rather than open surgery. Minimally invasive surgeries are increasingly being covered by health insurance providers in select countries. These factors have led to an increased preference for minimally invasive surgeries among patients. Traditional open surgeries involve long incisions made through the muscles, and these muscles take a considerable amount of time to heal, whereas MIS procedures involve smaller incisions, leading to a quicker recovery. These surgeries have been gaining wider acceptance among the geriatric population, due to the relatively shorter recovery time. The growing elderly population (65 and older) fuels the market's expansion.

The market is expected to grow due to technological advancements in repair medical equipment and methods, an increase in the adoption of EVAR treatments, an increase in demand for minimally invasive therapy, and the availability of favorable reimbursements.

The rise in abdominal aortic aneurysm mortality rates is a major factor driving the growth of the global abdominal aneurysm repair device market in Europe. For example, in the United Kingdom, approximately 19,000 deaths occur each year, with AAA accounting for half of them. Furthermore, according to a study published in the European Journal of Vascular and Endovascular Surgery, AAA was responsible for approximately 1,251 deaths in Germany. In response to the rising mortality rate, countries in the region have implemented screening programs and EVAR treatment options to reduce incidence rates, resulting in fewer aneurysm-related deaths in hospitals. Germany was one of the first countries to use the EAVR procedure to treat an abdominal aortic aneurysm.

Furthermore, the favorable reimbursement for EVAR procedures makes it an attractive market for abdominal aortic aneurysms. Furthermore, the United Kingdom (UK) has implemented a National Health Service (NHS) screening program for the early detection of abdominal aneurysms, which has aided in the rapid diagnosis of the disease, increasing demand for abdominal aortic aneurysm treatment options. Italy and Spain are potential markets for abdominal aortic aneurysm repair procedures. These factors are likely to boost the abdominal aortic aneurysm repair devices market.

Lack of solutions for difficult anatomies is likely to hamper the market growth 

However, high treatment costs, a lack of solutions for difficult anatomies, such as aneurysms with neck sizes less than 10 mm, and a lack of awareness in developing countries limit the growth of the abdominal aortic aneurysm repair devices industry.

Abdominal Aortic Aneurysm Repair Devices Market COVID-19 Impact Analysis

In 2019, the novel coronavirus (COVID-19) rapidly spread across various countries and regions, having a massive impact on people's lives and the global community. It began as a human health issue and has since evolved into a major threat to global trade, economy, and finance. Due to lockdowns caused by the COVID-19 pandemic, many products in the abdominal aortic aneurysm (AAA) repair device market were halted.

Furthermore, as the COVID-19 vaccine becomes available, the number of COVID-19 cases is expected to decrease. This has resulted in reopening abdominal aortic aneurysm (AAA) repair device companies to full capacity. This is expected to aid the market's recovery by the beginning of 2022. After COVID-19 infection cases begin to decline, manufacturers of equipment and machinery must focus on protecting their employees, operations, and supply networks to respond to urgent emergencies and establish new working methods.

Abdominal Aortic Aneurysm Repair Devices Market Segment Analysis

The vascular closure devices segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)        

Factors such as increased catheterization-related procedures, increased demand for minimally-invasive solutions, the ease of use of VCDs, and the growing burden of cardiovascular diseases are driving the market growth. The numerous benefits of minimally invasive surgeries, such as reduced surgical pain, injury, scarring, hospital stay, higher accuracy, and faster recovery time, entice many patients to choose minimally invasive balloon angioplasty surgeries. The growing burden of cardiovascular disease and its deaths creates a need for treatment devices, which drives the market growth. For example, the World Health Organization article titled "Cardiovascular Diseases: Key Facts," which was updated in June 2021, stated that cardiovascular diseases (CVDs) are the leading cause of death worldwide.

 Furthermore, market growth is fueled by introducing new products into the market. For example, Haemonetics Corporation received US Food and Drug Administration approval for the VASCADE MVP Venous Vascular Closure System in September 2021. As a result, various market players' number of regulatory authority approvals for products is boosting the market growth.

Abdominal Aortic Aneurysm Repair Devices Market

Metrics

Details

Market CAGR

5.9%

Segments Covered

By Product, By Site, By Application, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

Abdominal Aortic Aneurysm Repair Devices Market Geographical Analysis

North America region holds the largest market share of the global abdominal aortic aneurysm repair devices market

The North American abdominal aortic aneurysm repair devices market accounted for the lion's share because of the widespread use of advanced treatment procedures such as EVAR. Furthermore, many market players have launched technologically advanced devices to gain a strong foothold in the market. Endologix, Inc., for example, received FDA approval for the AFX2 Bifurcated Endograft System, which facilitates percutaneous EVAR by providing low-profile contralateral access through a 7-F introducer reducing the steps required to deliver or deploy the bifurcated endograft. Product development and innovation are expected to drive demand for endovascular treatment options.

Due to the widespread adoption of screening programs and abdominal aortic aneurysm repair treatment options. North American region is developing novel treatment and diagnostic methods. Furthermore, rising death rates increased patient awareness of the availability of new abdominal aortic aneurysm repair procedures. Advanced healthcare infrastructure is expected to drive the growth of the abdominal aortic aneurysm repair devices market in North America.

Abdominal Aortic Aneurysm Repair Devices Market Competitive Landscape

The abdominal aortic aneurysm repair devices market is a moderately competitive presence of local as well as global companies.  Some of the key players which are contributing to the growth of the market include Cardinal Health, Cadiva Medical, Biotronik, Medtronic Plc, Cook Medical , Endologix Inc, WL Gore & Associates Inc, Lombard Medical Inc, Terumo Corporation, among others.

The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the abdominal aortic aneurysm repair devices market globally. For instance, In September 2020, In Europe, Lombard Medical, a medical device manufacturer, introduced the ultra-low Minus abdominal aortic aneurysm stent graft and the low-profile Hercules thoracic aortic aneurysm stent graph.

Lombard Medical Inc

Overview:

Lombard Medical Inc is a medical technology company that specializes in developing, manufacturing, and marketing endovascular stent grafts that address significant unmet needs in aortic aneurysm repair. Aorfix is an endovascular stent graft with an approved indication for repairing AAAs (Abdominal Aortic Aneurysms) in patients with aortic neck angulations ranging from 0 to 90 degrees; IntelliFlex is an abdominal aortic aneurysm stent-graft delivery system, and Altura Endovascular Stent Graft System is an ultra-low profile endovascular stent graft technology. Japan accounts for the majority of the company's revenue.

Product Portfolio:

The AlturaTM Endograft System: The AlturaTM Endograft System redefines simplicity in abdominal aortic aneurysm treatment with a unique bilateral D-stent design. AlturaTM is an excellent choice for a wide range of patients due to its revolutionary benefits.

Frequently Asked Questions

What is the Projected CAGR value of the Abdominal Aortic Aneurysm Repair Devices Market?

Abdominal Aortic Aneurysm Repair Devices Market is expected to grow at a CAGR of 5.9% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Abdominal Aortic Aneurysm Repair Devices Market during 2022-2029

Which is the fastest growing region in the Abdominal Aortic Aneurysm Repair Devices Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period 

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