What is aortic aneurysm repair?
Aortic aneurysm repair involves medical procedures aimed at treating and managing these abnormalities. Surgical repair typically involves replacing the weakened section of the aorta with a synthetic graft, while endovascular repair involves the insertion of a stent graft to reinforce the weakened area.
According to the report, the global Aortic aneurysm repair market generated $3.2 billion in 2022, and is anticipated to generate $5.8 billion by 2032, witnessing a CAGR of 6.1% from 2023 to 2032.
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Key Takeaways:
- Growing Incidence of Aortic Aneurysms: Aortic aneurysms, which are characterized by the weakening and bulging of the aortic wall, have been on the rise due to factors such as aging populations and lifestyle-related issues.
- Two Main Treatment Approaches: There are two primary methods for treating aortic aneurysms: open surgical repair and endovascular repair. The latter involves minimally invasive procedures using stent grafts inserted through blood vessels to reinforce the weakened aortic wall.
- Shift Towards Minimally Invasive Techniques: Endovascular repair has gained prominence due to its minimally invasive nature, shorter hospital stays, and quicker recovery times compared to traditional open surgeries. This shift has influenced the growth of the market for endovascular devices and technologies.
- Technological Advancements: The Aortic Aneurysm Repair market has been impacted by advancements in medical imaging, stent graft design, and delivery systems. These innovations have led to improved patient outcomes and expanded the pool of eligible candidates for treatment.
- Market Players and Competition: The market includes several medical device companies specializing in the development and production of stent grafts, delivery systems, and related technologies. Companies like Medtronic, Cook Medical, Endologix, and Gore are among the major players.
Market Drivers:
- Aging Population: The global population is aging, leading to an increased incidence of aortic aneurysms, as they are more common among older individuals. As the elderly population grows, the demand for aortic aneurysm repair procedures is likely to rise.
- Prevalence of Aortic Diseases: Aortic diseases, including aneurysms, are becoming more prevalent due to lifestyle factors such as smoking, hypertension, and obesity. These risk factors contribute to the demand for treatment and repair options.
- Advancements in Medical Technology: Technological advancements in imaging techniques, minimally invasive procedures, and materials used in stent grafts have made aortic aneurysm repair safer, more effective, and less invasive. These advancements attract both healthcare providers and patients to these treatment options.
Covid-19 Scenario
- Due to the COVID-19 pandemic and the subsequent global lockdowns, the aortic aneurysm repair market faced a downturn.
- However, there are various growth opportunities for companies operating in the aortic aneurysm repair market as the global situation started ameliorating, and the rise in number of surgeries has resumed.
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Market Segmentation:
Type of Repair:
- Open Surgical Repair: Traditional surgical repair involves the direct removal of the weakened section of the aorta and replacement with a synthetic graft.
- Endovascular Repair: This minimally invasive approach involves inserting a stent graft through blood vessels to reinforce the weakened aortic wall.
Product Type:
- Stent Grafts: These are the main products used in endovascular repair. They consist of a metal stent covered by a fabric graft, which helps reinforce and redirect blood flow within the aorta.
- Aortic Stents: Traditional stents that may be used in open surgical repair or as part of hybrid procedures.
Aneurysm Location:
- Thoracic Aortic Aneurysms (TAA): Aneurysms that occur in the thoracic (chest) portion of the aorta.
- Abdominal Aortic Aneurysms (AAA): Aneurysms that occur in the abdominal portion of the aorta.
End-user:
- Hospitals: Large medical centers that offer comprehensive treatment options for aortic aneurysms.
- Ambulatory Surgical Centers (ASCs): Facilities that provide same-day surgical procedures, often including minimally invasive endovascular repair.
North America to maintain its dominance by 2032
Based on region, North America dominated the aortic aneurysm repair market in 2022 accounting to nearly three-fifths of the global aortic aneurysm repair market revenue and is expected to continue the trend throughout the forecast period. This is attributed to alarming increase in the incidence of coronary artery diseases (CADs), including aortic aneurysm, in the region.
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Competitive Landscape
- Medtronic Plc
- Artivion, Inc.
- Terumo Corporation
- W. L. Gore and Associates, Inc.
- Microport Scientific Corporation
- Cook Group Inc
- Endologix Inc.
- Cordis Corporation
- Braile Biomédica S.A.
- Bentley Innomed GmBH
VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
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