Aortic Aneurysm Repair Devices Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Global Aortic Aneurysm Repair Devices Market is segmented Global Aortic Aneurysm Repair Devices Market By Type (Thoracic Aortic Aneurysm (TAA), Abdominal Aortic Aneurysm (AAA)) By Equipment (Stent Grafts, Catheters, Others) By Treatment (Open Surgical Repair (OSR), Endovascular Aneurysm Repair (EVAR)) By End-User (Hospitals and Clinics, Ambulatory Surgery Centers, Others) and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Aortic Aneurysm Repair Devices MarketOverview

The global aortic aneurysm repair devices market reached US$ 2.54 billion in 2023 and is expected to reach US$ 4.10 billion by 2031, growing at a CAGR of 6.2% during the forecast period 2024-2031.

Aortic aneurysm repair devices are medical tools used to treat aortic aneurysms, which are abnormal bulges or ballooning in the wall of the aorta, the body's largest artery. There are two main types of aortic aneurysms: abdominal aortic aneurysms (AAAs) and thoracic aortic aneurysms (TAAs), depending on where they occur along the aorta. Aortic aneurysms pose a significant risk of rupture, which can lead to severe internal bleeding and potentially fatal consequences. 

Repair devices help reinforce the weakened area of the aorta, reducing the risk of rupture and saving lives. Repair devices have contributed to improved outcomes for patients undergoing treatment for aortic aneurysms. By providing effective and less invasive options for repair, these devices help reduce morbidity and mortality rates associated with this condition.

Aortic Aneurysm Repair Devices Market Scope

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Aortic Aneurysm Repair Devices Market Dynamics: Drivers and Restraints

Increasing incidence of aortic aneurysms

The growing prevalence of risk factors such as aging population, hypertension, smoking, and atherosclerosis contributes to the rising incidence of aortic aneurysms. As more individuals are diagnosed with this condition, the demand for treatment options, including repair devices, increases. 

For instance, according to an article published in National Library of Medicine 2022, aortic aneurysms are generally asymptomatic, they can threaten human health by sudden death due to aortic rupture. Aortic aneurysms are estimated to lead to 150,000 ~ 200,000 deaths per year worldwide. Currently, there are no effective drugs to prevent the growth or rupture of aortic aneurysms; surgical repair or endovascular repair is the only option for treating this condition.

Moreover, there is a growing preference for minimally invasive procedures over traditional open surgeries among patients and physicians. Minimally invasive techniques, such as endovascular repair, offer shorter recovery times, reduced hospital stays, and lower complication rates compared to open surgery. This preference fuels the demand for aortic aneurysm repair devices designed for minimally invasive procedures.

Market Dynamics: Restraint

High cost of treatment

Aortic aneurysm repair procedures, whether through open surgery or minimally invasive techniques like endovascular repair, involve substantial costs. For patients without adequate insurance coverage or financial resources, the out-of-pocket expenses associated with these procedures can be prohibitive. As a result, some patients may delay or forego treatment altogether, leading to poorer health outcomes and potentially higher costs in the long run due to complications or emergency interventions. 

The high cost of treatment may influence physician decision-making regarding treatment options for patients with aortic aneurysms. Physicians may weigh factors such as the patient's insurance coverage, financial status, and willingness to undergo expensive procedures when recommending treatment plans.

Aortic Aneurysm Repair Devices Market Segment Analysis

The global aortic aneurysm repair devices market is segmented based on type, equipment, treatment, end-user and region.

The abdominal aortic aneurysm from the type  segment accounted for approximately 58.26% of share

Advances in device technology, such as the development of next-generation stent grafts with improved materials, designs, and delivery systems, drive growth in the AAA repair device segment. These innovations aim to enhance device performance, durability, and patient outcomes, contributing to increased adoption of endovascular repair techniques for AAA. 

For instance, the introduction of Next-Generation Stent Grafts, many manufacturers develop stent grafts with advanced materials and designs, improving device flexibility, conformability, and durability. These advancements enable more precise placement of the graft within the aorta, reducing the risk of complications such as endoleaks.

Additionally, the shift towards minimally invasive procedures for AAA repair, such as Endovascular Aneurysm Repair (EVAR), fuels segment growth. Minimally invasive techniques offer several advantages over traditional open surgery, including shorter hospital stays, faster recovery times, and reduced morbidity and mortality rates. As a result, there is growing demand for AAA repair devices designed for use in endovascular procedures.

Aortic Aneurysm Repair Devices Market Geographical Analysis

North America accounted for approximately 42.12% of the market share in 2022

North America has one of the highest healthcare expenditures globally, driven by factors such as rising healthcare costs, technological advancements, and an aging population. North America has a relatively high prevalence of risk factors associated with aortic aneurysms, such as aging population, obesity, hypertension, and smoking. As a result, there is a significant patient population in need of aortic aneurysm repair interventions. The demand for repair devices is driven by the need to treat this growing patient population.

For instance, each year in the United States, AAA rupture causes 4500 deaths, with an additional 1400 deaths resulting from the 45,000 repair procedures performed to prevent rupture. Additionally, many leading manufacturers of aortic aneurysm repair devices are based in North America or have a significant presence in the region. These companies leverage their expertise, resources, and distribution networks to drive market growth through product innovation, marketing strategies, and partnerships with healthcare institutions.

COVID-19 Impact Analysis On  Aortic Aneurysm Repair Devices Market

During the height of the pandemic, many hospitals and healthcare facilities postponed or canceled elective procedures, including aortic aneurysm repairs. This led to a decrease in the volume of procedures performed and a temporary decline in demand for repair devices. As healthcare systems adapted to the challenges posed by the pandemic, there was a greater emphasis on performing minimally invasive procedures, such as endovascular aneurysm repair (EVAR), over traditional open surgeries.

Some patients may have delayed seeking medical care for symptoms of aortic aneurysms during the pandemic, either due to concerns about COVID-19 exposure or limitations on healthcare access. Delayed diagnosis and treatment could lead to more advanced disease at the time of intervention, potentially impacting the type of repair procedure required and the choice of repair devices.

Aortic Aneurysm Repair Devices Market Competitive Landscape

The major global players in the market include Medtronic Plc, Cook Medical, Boston Scientific, Endologix LLC, Braile Biomedica, Artivion, Inc, Cardinal Health, Lombard Medical, Terumo Corporation, Gore among others.

Why Purchase the Report?

• To visualize the global aortic aneurysm repair devices market segmentation based on type, equipment, treatment, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of aortic aneurysm repair devices market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global aortic aneurysm repair devices market report would provide approximately 69 tables, 58 figures and 187 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies