The global abdominal aortic aneurysm (AAA) repair devices market size was valued at $2,224.6 million in 2020, and is projected to reach $4,002.6 million by 2030, registering a CAGR of 6.1% from 2021 to 2030. The swelling of the lower section of the aorta in the abdomen is known as an abdominal aortic aneurysm (AAA). It is an asymptomatic, age-related disease that is frequently discovered during a medical evaluation for another condition. On other hand, aortic rupture can result in life-threatening hemorrhage (uncontrolled bleeding) or even death. In the case of AAA, surgical procedures such as endovascular aneurysm repair (EVAR) and open surgery repair are recommended.
The market is predicted rise owning to increase in prevalence of hypertension and hyperlipidemia and technical breakthroughs, such as endovascular aneurysm repair treatment. Those over the age of 65 are more likely to suffer from this condition. Furthermore, increase in tobacco consumption and smoking leads to the creation of aneurysms, which drives the demand for repair devices. However, surgery-related dangers, expensive repair costs, and shortage of products for complicated anatomy therapy limit the market expansion. The market is likely to benefit from increase in prevalence of AAA and technical developments in these devices.
The key players in abdominal aortic aneurysm (AAA) repair devices are adopting product launch and business expansion strategies to strengthen its market position. For instance, in May 2021, a California-based, global medical device company, Endologix LLC announced the first implantation of ALTO Abdominal Stent Graft in Canada, which was approved from Canada Health Department. Further, ALTO also received approval by the healthcare system for commercial distribution in Argentina. As a result, key players are expanding their distribution region, which significantly contributes towards the market growth.
The market is segmented on the basis of product type, anatomy, site, and geography. In terms of product type, the market is divided into endovascular stent graft system and synthetic graft system. On the basis of anatomy, the market is categorized into traditional anatomy and complex anatomy. On the basis of site, the market is bifurcated into infrarenal AAA and pararenal AAA. Region-wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key players operating in the global abdominal aortic aneurysm (AAA) repair devices market are Cardiatis S.A., Cardinal Health, Inc., Cook Medical, Inc., Endologix LLC, JOTEC GmbH, Lombard Medical, Inc., Medtronic plc, Inside Medical, W. L. Gore & Associates, Inc., and MicroPort Scientific Corporation.
The market is predicted rise owning to increase in prevalence of hypertension and hyperlipidemia and technical breakthroughs, such as endovascular aneurysm repair treatment. Those over the age of 65 are more likely to suffer from this condition. Furthermore, increase in tobacco consumption and smoking leads to the creation of aneurysms, which drives the demand for repair devices. However, surgery-related dangers, expensive repair costs, and shortage of products for complicated anatomy therapy limit the market expansion. The market is likely to benefit from increase in prevalence of AAA and technical developments in these devices.
The key players in abdominal aortic aneurysm (AAA) repair devices are adopting product launch and business expansion strategies to strengthen its market position. For instance, in May 2021, a California-based, global medical device company, Endologix LLC announced the first implantation of ALTO Abdominal Stent Graft in Canada, which was approved from Canada Health Department. Further, ALTO also received approval by the healthcare system for commercial distribution in Argentina. As a result, key players are expanding their distribution region, which significantly contributes towards the market growth.
The market is segmented on the basis of product type, anatomy, site, and geography. In terms of product type, the market is divided into endovascular stent graft system and synthetic graft system. On the basis of anatomy, the market is categorized into traditional anatomy and complex anatomy. On the basis of site, the market is bifurcated into infrarenal AAA and pararenal AAA. Region-wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition Analysis
The key players operating in the global abdominal aortic aneurysm (AAA) repair devices market are Cardiatis S.A., Cardinal Health, Inc., Cook Medical, Inc., Endologix LLC, JOTEC GmbH, Lombard Medical, Inc., Medtronic plc, Inside Medical, W. L. Gore & Associates, Inc., and MicroPort Scientific Corporation.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging abdominal aortic aneurysm (AAA) repair devices market trends and dynamics.
- In-depth abdominal aortic aneurysm (AAA) repair devices market analysis is conducted by constructing market estimations for key market segments between 2021 and 2030.
- Extensive analysis of the abdominal aortic aneurysm (AAA) repair devices market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global abdominal aortic aneurysm (AAA) repair devices market forecast analysis from 2021 to 2030 is included in the report.
- The key players within abdominal aortic aneurysm (AAA) repair devices market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the abdominal aortic aneurysm (AAA) repair devices industry.
Key Market Segments
By Product Type
- Endovascular Stent Graft System
- Synthetic Graft System
By Anatomy
- Traditional Anatomy
- Complex Anatomy
By Site
- Infrarenal Aaa
- Pararenal Aaa
By Region
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Rest of Europe
Key Market Players
- CARDIATIS S.A.
- CARDINAL HEALTH, INC.
- COOK MEDICAL, INC.
- ENDOLOGIX, INC.
- jotec gmbh
- LOMBARD MEDICAL, INC.
- MEDTRONIC PLC
- nano endoluminal sa
- TERUMO CORPORATION
- W. L. GORE & ASSOCIATES, INC.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ABDOMINAL AORTIC ANEURYSM (AAA) REPAIR DEVICES MARKET, BY PRODUCT TYPE
CHAPTER 5: ABDOMINAL AORTIC ANEURYSM (AAA) REPAIR DEVICES MARKET, BY ANATOMY
CHAPTER 6: ABDOMINAL AORTIC ANEURYSM (AAA) REPAIR DEVICES MARKET, BY SITE
CHAPTER 7: ABDOMINAL AORTIC ANEURYSM (AAA) REPAIR DEVICES MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Abdominal Aortic Aneurysm (AAA) Repair Devices Market,' the abdominal aortic aneurysm repair devices market size was valued at $2,224.60 million in 2020, and is estimated to reach $4.0 Billion by 2030, growing at a CAGR of 6.1% from 2021 to 2030.Abdominal aortic aneurysm (AAA) is a disorder that primarily affects the above 65 years age group. The abdominal aortic aneurysm repair devices market significantly rises owning to technical breakthroughs in aneurysm repair treatments. Endovascular stent grafting is used to treat abdominal aortic aneurysms, which is most preferable than an open surgery.
Increase in elderly community (65 years age and above) fuel the growth of the market. Further, increase in consumption of tobacco and smoking propel the AAA repair devices market growth forward. The market is expected to develop owning to technical advancements in repair medical equipment and methods, increase in the adoption of EVAR treatments, rise in demand for minimally invasive therapy, and the availability of advantageous reimbursements. However, high treatment costs, shortage of solutions to address difficult anatomy, such as aneurysms with neck sizes less than 10 mm, and lack of awareness in emerging nations limit the abdominal aortic aneurysm repair devices industry expansion.
Moreover, key players are focusing on latest solution for challenging anatomies and AAA treatments. For instance, in September 2020, Lombard Medical, a medical device manufacturing company introduced ultra-low Minus abdominal aortic aneurysms stent graft and low-profile Hercules thoracic aortic aneurysm stent graph in Europe. Such initiatives from key player provide significant abdominal aortic aneurysm repair devices market growth.
The North American AAA repair devices market accounted for the major share due to high adoption of advanced treatment procedures such as EVAR. Moreover, numerous market players have launched technically advanced devices to gain a strong foothold in the market. For instance, Endologix, Inc. received FDA approval for AFX2 Bifurcated Endograft System, which facilitates percutaneous EVAR by providing the low-profile contralateral access through a 7-F introducer, thus reducing the steps to deliver or deploy the bifurcated endograft. Increased product development and innovation is expected to fuel the demand for endovascular treatment options.
Rise in mortality rate due to AAA is the major factor that drives the growth of the global abdominal aneurysm repair device market in Europe. For instance, about 19,000 death each year occur in UK, among which half of them are due to AAA. Moreover, as per a study published in European Journal of Vascular and Endovascular Surgery, around 1,251 deaths were reported in Germany due to AAA. Seeking the rise in mortality rate, countries in the region have adopted screening programs and EVAR treatment procedure options to reduce the incidence rates, which have resulted in reduced aneurysm-related deaths in hospitals.
Germany was among the first country to use EAVR procedure for treatment of AAA. Moreover, favorable reimbursement for EVAR procedures makes it a suitable market for AAA. In addition, the UK has adopted screening program of National Health Service (NHS) for early detection of abdominal aneurysm, which has helped in quick diagnosis of the disease, thereby leading to rise in demand for AAA treatment options. Italy and Spain are also the potential markets for AAA repair procedures.
However, during the COVID-19 pandemic lockdown, various manufacturers in the abdominal aortic aneurysm (AAA) repair devices market shut down their business in countries such as China, the U.S., and India. This break directly impacted sales of abdominal aortic aneurysm (AAA) repair devices. In addition, lack of manpower and raw materials also constricted supply of abdominal aortic aneurysm (AAA) repair devices, which negatively influenced the abdominal aortic aneurysm repair market growth. However, reopening of production facilities and introduction of vaccines for COVID-19 are anticipated to lead to re-opening of abdominal aortic aneurysm (AAA) repair devices companies.
Technological advancement marks a significant trend in the AAA repair devices market, owing to high adoption of screening programs and AAA treatment options. Countries in the region develop novel treatment and diagnosis procedures. In addition, increase in incidences of death, rise in awareness among patients about the availability of new AAA repair procedures, and advanced healthcare infrastructure are expected to fuel the abdominal aortic aneurysm repair devices market growth.
Key findings of the Study
- The report provides an extensive analysis of the current and emerging abdominal aortic aneurysm repair devices market trends and dynamics.
- Depending on product type, the endovascular stent graft system segment dominated the abdominal aortic aneurysm repair devices market, in terms of revenue in 2020 and is projected to grow at a significant CAGR during the forecast period.
- By site, the infrarenal AAA segment registered highest revenue in 2020.
- By anatomy, the traditional anatomy segment registered the highest revenue in 2020.
- Asia-Pacific is projected to register highest growth rate in the coming years.
The report provides an extensive analysis of the abdominal aortic aneurysm repair devices market growth and emerging opportunities of the market.
In-depth abdominal aortic aneurysm repair devices market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.
The global abdominal aortic aneurysm repair devices market share analysis from 2020 to 2030 is included in the report.
Companies Mentioned
- CARDIATIS S.A.
- CARDINAL HEALTH, INC.
- COOK MEDICAL, INC.
- ENDOLOGIX, INC.
- jotec gmbh
- LOMBARD MEDICAL, INC.
- MEDTRONIC PLC
- nano endoluminal sa
- 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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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 255 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 2224.6 million |
| Forecasted Market Value ( USD | $ 4002.6 million |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
