The Aortic Aneurysm Repair Market was valued for $3.19 Billion in 2022 and is estimated to reach $5.79 Billion by 2032, exhibiting a CAGR of 6.1% from 2023 to 2032. Aortic aneurysm repair refers to the medical procedures and interventions aimed at treating and managing abnormalities in the aorta, the body's main artery. An aortic aneurysm is characterized by abnormal bulging or dilation of the aorta's walls, which can pose a serious health risk if left untreated. Aortic aneurysm repair involves various techniques, Including surgical and endovascular approaches, to strengthen the weakened or damaged section of the aorta, prevent rupture, and restore normal blood flow.
Surgical repair typically involves open surgery, where a portion of the dilated aorta is replaced with a synthetic graft. On the other hand, endovascular repair involves minimally invasive techniques, such as the insertion of a stent graft through small Incisions, to reinforce the weakened segment of the aorta from within. The choice of repair method depends on factors such as the location, size, and shape of the aneurysm, as well as the patient's overall health. Aortic aneurysm repair aims to reduce the risk of complications, Including rupture, and improve patient outcomes by restoring the normal structure and function of the aorta.
The market growth for aortic aneurysm repair is primarily driven by the Increase in the prevalence of aortic aneurysms and related diseases. Aortic aneurysms have become more common due to factors such as the surge in aging population and the rise in Incidence of risk factors such as hypertension, atherosclerosis, and smoking. In addition, according to the article published by Medscape, in 2022, hypertension is the most common disease primarily diagnosed in the U.S., affecting approximately 86 million adults (≥20 years) and is a major risk factor for stroke, myocardial infarction, and vascular disease. Thus, as the prevalence of hypertension continues to rise globally, the number of individuals at risk of developing aortic aneurysms also Increases, thereby driving the market growth.
However, the market growth for aortic aneurysm repair is restrained by the lack of availability of certain devices in various developing regions and limited availability of skilled healthcare professionals. Inadequate access to advanced medical devices and technologies hampers the effective treatment of aortic aneurysms. In addition, the scarcity of skilled healthcare professionals with expertise in aortic aneurysm repair limits the capacity to deliver optimal care, further impeding market growth.
Moreover, the Increase in demand for advanced healthcare services and rise in awareness of aortic aneurysm treatments are expected to provide remunerative opportunities for the expansion of the market during the forecast period. Furthermore, the upsurge in initiatives by the government for favorable reimbursement policies fuel the adoption of advanced treatments and thereby notably driving the growth of the aortic aneurysm repair market.
The aortic aneurysm repair market is segmented into product type, procedure type, and region. By product type, the market is categorized into aortic stent-grafts and hybrid stent-grafts. On the basis of procedure type, it is segregated into open surgery, endovascular aortic aneurysm repair, and frozen elephant trunk (FET). The open surgery is further categorized into abdominal open repair and thoracic open repair. The endovascular aortic aneurysm repair is further categorized into abdominal endovascular aortic aneurysm repair, thoracic endovascular aortic aneurysm repair, and others (branched endovascular aortic repair, fenestrated endovascular aortic repair, branched thoracic endovascular aortic repair (B-TEVAR)).
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America and Middle East and Africa).The key players operating in the aortic aneurysm repair market are Medtronic plc, Artivion, Inc, Terumo Corporation, W. L. Gore and Associates, Inc., MicroPort Scientific Corporation, Cook Group Inc, ENDOLOGIX LLC, Cordis Corporation., Bentley InnoMed GmbH and Braile Biomédica S.A. The key players have adopted strategies such as product launch, product approval and innovation to enhance their product portfolio.
Surgical repair typically involves open surgery, where a portion of the dilated aorta is replaced with a synthetic graft. On the other hand, endovascular repair involves minimally invasive techniques, such as the insertion of a stent graft through small Incisions, to reinforce the weakened segment of the aorta from within. The choice of repair method depends on factors such as the location, size, and shape of the aneurysm, as well as the patient's overall health. Aortic aneurysm repair aims to reduce the risk of complications, Including rupture, and improve patient outcomes by restoring the normal structure and function of the aorta.
The market growth for aortic aneurysm repair is primarily driven by the Increase in the prevalence of aortic aneurysms and related diseases. Aortic aneurysms have become more common due to factors such as the surge in aging population and the rise in Incidence of risk factors such as hypertension, atherosclerosis, and smoking. In addition, according to the article published by Medscape, in 2022, hypertension is the most common disease primarily diagnosed in the U.S., affecting approximately 86 million adults (≥20 years) and is a major risk factor for stroke, myocardial infarction, and vascular disease. Thus, as the prevalence of hypertension continues to rise globally, the number of individuals at risk of developing aortic aneurysms also Increases, thereby driving the market growth.
However, the market growth for aortic aneurysm repair is restrained by the lack of availability of certain devices in various developing regions and limited availability of skilled healthcare professionals. Inadequate access to advanced medical devices and technologies hampers the effective treatment of aortic aneurysms. In addition, the scarcity of skilled healthcare professionals with expertise in aortic aneurysm repair limits the capacity to deliver optimal care, further impeding market growth.
Moreover, the Increase in demand for advanced healthcare services and rise in awareness of aortic aneurysm treatments are expected to provide remunerative opportunities for the expansion of the market during the forecast period. Furthermore, the upsurge in initiatives by the government for favorable reimbursement policies fuel the adoption of advanced treatments and thereby notably driving the growth of the aortic aneurysm repair market.
The aortic aneurysm repair market is segmented into product type, procedure type, and region. By product type, the market is categorized into aortic stent-grafts and hybrid stent-grafts. On the basis of procedure type, it is segregated into open surgery, endovascular aortic aneurysm repair, and frozen elephant trunk (FET). The open surgery is further categorized into abdominal open repair and thoracic open repair. The endovascular aortic aneurysm repair is further categorized into abdominal endovascular aortic aneurysm repair, thoracic endovascular aortic aneurysm repair, and others (branched endovascular aortic repair, fenestrated endovascular aortic repair, branched thoracic endovascular aortic repair (B-TEVAR)).
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America and Middle East and Africa).The key players operating in the aortic aneurysm repair market are Medtronic plc, Artivion, Inc, Terumo Corporation, W. L. Gore and Associates, Inc., MicroPort Scientific Corporation, Cook Group Inc, ENDOLOGIX LLC, Cordis Corporation., Bentley InnoMed GmbH and Braile Biomédica S.A. The key players have adopted strategies such as product launch, product approval and innovation to enhance their product portfolio.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aortic aneurysm repair market analysis from 2022 to 2032 to identify the prevailing aortic aneurysm repair market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the aortic aneurysm repair market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global aortic aneurysm repair market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
- Aortic Stent-grafts
- Hybrid stent-grafts
By Procedure Type
- Open Surgery
- Repair type
- Abdominal Open Repair
- Thoracic Open Repair
- Endovascular Aortic Aneurysm Repair
- Repair Type
- Abdominal Endovascular Aortic Repair
- Thoracic Endovascular Aortic Aneurysm Repair
- Others
- Frozen Elephant Trunk
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest Of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East And Africa
Key Market Players
- Artivion, Inc.
- Bentley InnoMed GmbH
- Braile Biomédica S.A.
- Cook Group Inc
- Cordis Corporation
- Endologix Inc.
- Medtronic plc
- MicroPort Scientific Corporation
- Terumo Corporation
- W. L. Gore & Associates, Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AORTIC ANEURYSM REPAIR MARKET, BY PRODUCT TYPE
CHAPTER 5: AORTIC ANEURYSM REPAIR MARKET, BY PROCEDURE TYPE
CHAPTER 6: AORTIC ANEURYSM REPAIR MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Aortic Aneurysm Repair Market,' The aortic aneurysm repair market was valued at $3.2 billion in 2022, and is estimated to reach $5.8 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032.The aortic aneurysm repair market is likely to experience a significant growth rate of 6.1% from 2023-2032 owing to increasing market demand of aortic stent-graft segment.
Aortic aneurysm repair encompasses medical procedures and interventions aimed at addressing abnormalities in the aorta, the primary artery of the body. It involves treating and managing the dilation or bulging of the aortic walls, which can pose significant health risks if left untreated. The goal of aortic aneurysm repair is to strengthen the weakened or damaged section of the aorta, prevent rupture, and restore normal blood flow. This can be achieved through different techniques, including surgical and endovascular approaches. In surgical repair, an open surgery is performed, where a synthetic graft is used to replace the dilated portion of the aorta. This procedure involves making an incision to access the aorta directly. On the other hand, endovascular repair utilizes minimally invasive techniques. It involves inserting a stent graft through small incisions or punctures, which reinforces the weakened segment of the aorta from the inside.
The choice of repair method depends on various factors, such as the location, size, and shape of the aneurysm, as well as the overall health of the patient. These considerations help determine whether open surgery or endovascular techniques are more suitable for a particular case. The primary objective of aortic aneurysm repair is to reduce the risk of complications, including rupture, and improve patient outcomes by restoring the normal structure and function of the aorta.
The market for aortic aneurysm repair is significantly influenced by the increasing prevalence of aortic aneurysms. Aortic aneurysms, characterized by the abnormal enlargement or bulging of the aorta, pose a considerable health risk if left untreated. Various factors contribute to the growing prevalence of this condition, including the rise in the aging population and the increased incidence of risk factors such as hypertension, smoking, and atherosclerosis.
Moreover, as the number of individuals diagnosed with aortic aneurysms continues to rise, there is a corresponding surge in the demand for effective treatment options. For instance, according to the Canadian Task Force on Preventive Health Care, estimated that each year 20,000 Canadians are diagnosed with an abdominal aortic aneurysm (AAA), furthermore according to the same source, the prevalence of AAA among men aged 65 to 80 is 4 to 6 times higher than in women of the same age. Thus, increasing aging population and an increase in the number of people suffering from aortic aneurysm is expected to propel market growth.
Furthermore, the market also offers growth opportunities to the key players in the market. Many developing regions offer lucrative opportunities to key players of aortic aneurysm repair market owing to high population base, increase in demand of efficient treatments with minimum side effects and rise healthcare spending. In addition, rise in disposable income and medical tourism fuels the growth of aortic aneurysm repair market.
Additionally, strong presence of key players such as Terumo Corporation, Endologix LLC and Medtronic Plc. propels the expansion of the market. The increased focus of these key players on the development and commercialization of new aneurysm repair and related products in the country further contribute toward the growth of the market. For instance, in July 2022, following the approval by the U.S. Food and Drug Administration (FDA) for the Thoraflex Hybrid frozen elephant trunk (FET) device for the treatment of patients with complex aortic arch disease, Terumo Aortic, a leading manufacturer of medical devices and supplies, announced the first commercial implant of the device in the U.S. Furthermore, the introduction of new products for aortic aneurysm repair by these key players contributes to the expansion of the global market.
The aortic aneurysm repair market is segmented into product type, procedure type, and region. By product type, the market is categorized into aortic stent-grafts and hybrid stent-grafts. On the basis of procedure type, it is segregated into open surgery, endovascular aortic aneurysm repair, and frozen elephant trunk (FET). The open surgery is further categorized into abdominal open repair and thoracic open repair. The endovascular aortic aneurysm repair is further categorized into abdominal endovascular aortic aneurysm repair, thoracic endovascular aortic aneurysm repair, and others (branched endovascular aortic repair, fenestrated endovascular aortic repair, branched thoracic endovascular aortic repair (B-TEVAR)). Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America and Middle East and Africa).
The key players operating in the aortic aneurysm repair market are Medtronic plc, Artivion, Inc, Terumo Corporation, W. L. Gore and Associates, Inc., MicroPort Scientific Corporation, Cook Group Inc, Endologix LLC, Cordis Corporation., Bentley InnoMed GmbH and Braile Biomédica S.A. The key players have adopted strategies such as product launch, product approval and innovation to enhance their product portfolio.
Key Market Insights
- By product type, the aortic stent-grafts segment was the highest contributor to the market in 2022.
- By procedure type, the endovascular aortic aneurysm repair segment led the market in terms of revenue in 2022.
- Region wise, North America generated the highest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- Artivion, Inc.
- Bentley InnoMed GmbH
- Braile Biomédica S.A.
- Cook Group Inc
- Cordis Corporation
- Endologix Inc.
- Medtronic plc
- MicroPort Scientific Corporation
- Terumo Corporation
- W. L. Gore & Associates, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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