The Aortic Repair Devices market is expected to augment with an anticipated CAGR of 5.5%, during the forecast period (2020-2025).
The major factors accounting to the growth of the Aortic Repair Devices market are increase in the number of Endovascular Procedures, Growing innovations and Advancements in technology and increasing preference of Stent grafts for Aortic repair drives the market of Aortic Repair Devices during the forecast period. According to WHO facts, nearly 17.9 million people die every year from Cardiovascular diseases, an estimated 31% of all deaths worldwide. Therefore, increase in the death rate due to CVDs around the world drives the growth of Aortic Repair Devices Market during the forecast period. However, lack in the availability of certain devices in the various developing regions and complicated post-procedure requirements such as re-intervention of patients in some cases through endovascular aortic repair is expected to hamper the market growth to some extent.
Key Market Trends
Endovascular Aneurysm Repair Segment Dominates the Market and the Trend is Expected to be Same During the Forecast Period.
Endovascular procedures are preferred than open surgeries due to the benefits such as minimally invasive, short stay in the hospitals and patient compliance. The growing geriatric population in which open repair procedures are not recommendable, demands the use of Endovascular procedures. Also, the continuous growth of Cardiovascular diseases drives the growth of Endovascular Aneurysm Repair segment during the forecast period.
North America Dominates the Market and the Same is Expected Over the Forecast Period.
North America is expected to dominate the overall market, throughout the forecast period. The factors such as changing life style, advancements in technology and affordability to minimally invasive procedures for the effective management of cardiovascular diseases in the developed countries are responsible for the growth of the market. According to Centers for Disease Control and Prevention, Heart disease is the leading cause of death in the United States with the death of one person every 37 seconds which accounts for the death of 647,000 Americans each year. All these factors lead to the growth of Aortic Repair devices market in North America.
The Aortic Repair Devices market is moderately competitive and consists of several major players. With increasing consolidations of various organizations such as Vascutek and Bolton Medical Merge as Terumo Aortic, it is expected to generate the competitive rivalry among the key players in future. Some of the major players of the market are Terumo Aortic, Cardiatis, Cook Medical, Inc, Endologix Inc, etc.,
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1.2 Study Assumptions
1.3 Scope of the Study
4.2 Market Drivers
4.2.1 Increasing Number of Endovascular Procedures
4.2.2 Growing Innovations and Advancements in Technology
4.3 Market Restraints
4.3.1 Lack in the Availability of Certain Devices in the Various Developing Regions
4.3.2 Complicated Post-Procedure Requirements Such as Re-intervention of Patients in Some Cases Through Endovascular Aortic Repair
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.1 Stent Grafts
5.2 By Procedure
5.2.1 Abdominal Aortic Aneurysm Repair
5.2.2 Open Repair
5.2.3 Endovascular Aneurysm Repair
5.2.4 Thoracic Aortic Aneurysm Repair
5.2.5 Thoracic Endovascular Aneurysm Repair
5.3.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.3.3 Asia Pacific
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.3.4 Middle East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East and Africa
5.3.5 South America
184.108.40.206 Rest of South America
6.1.1 Terumo Aortic
6.1.3 Cook Medical, Inc.
6.1.4 Endologix, Inc.
6.1.5 JOTEC GmbH
6.1.6 Lombard Medical Technologies
6.1.7 Medtronic PLC
6.1.8 W. L. Gore and Associates
A selection of companies mentioned in this report includes:
- Terumo Aortic
- Cook Medical, Inc.
- Endologix, Inc.
- JOTEC GmbH
- Lombard Medical Technologies
- Medtronic PLC
- W. L. Gore and Associates