PORTLAND, OREGON, UNITED STATES, September 29, 2023 /EINPresswire.com/ — 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. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.
Key Takeaways:
Growing prevalence of aortic aneurysm and technological advancement drive the growth of the global aortic aneurysm repair market.
The aortic stent-grafts segment to maintain its leadership status throughout the forecast period
The endovascular aortic aneurysm repair segment to maintain its lead position during the forecast period
North America to maintain its dominance by 2032
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Growing prevalence of aortic aneurysm and technological advancement drive the growth of the global aortic aneurysm repair market. However, the high cost of aortic aneurysm repair procedures presents a significant challenge and hampers market growth. On the contrary, the growing healthcare infrastructure and adoption of strategies by key manufacturers are expected to offer remunerative opportunities for expansion of the aortic aneurysm repair market during the forecast period.
Market Segmentation:
Type of Aneurysm:
Abdominal Aortic Aneurysm (AAA) Repair: This segment includes devices and procedures specifically designed for repairing aneurysms in the abdominal aorta.
Thoracic Aortic Aneurysm (TAA) Repair: This segment focuses on devices and procedures for treating aneurysms in the thoracic aorta.
Treatment Approach:
Open Surgical Repair: This includes traditional surgical methods involving open surgery to repair aortic aneurysms.
Endovascular Aneurysm Repair (EVAR): This segment includes minimally invasive procedures that use stent grafts and catheters to repair aortic aneurysms.
Product Type:
Stent Grafts: Devices used for endovascular repair, including both off-the-shelf and custom-made grafts.
Prosthetic Grafts: Traditional grafts used in open surgical repair.
Aneurysm Clips and Clamps: Devices used in open surgery to isolate and repair aneurysms.
Other Devices: This category may include balloons, guidewires, and other accessories used in aortic aneurysm repair procedures.
End-user:
Hospitals: This includes general hospitals, teaching hospitals, and specialized cardiovascular centers.
Ambulatory Surgical Centers (ASCs): Outpatient facilities where minimally invasive procedures can be performed.
Clinics: Specialized clinics that focus on vascular and cardiovascular care.
Geographic Region:
North America: Includes the United States and Canada.
Europe: May be further divided into Western Europe, Eastern Europe, etc.
Asia-Pacific: Includes countries in East Asia, South Asia, Southeast Asia, and the Pacific region.
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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Regional Growth Dynamics:
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. This is attributed to factors such as sedentary lifestyle, unhealthy eating habits, and rise in geriatric population. In addition, the surge in demand for aortic aneurysm repair devices and minimally invasive procedures drives the market growth.
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
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Key Questions Answered in the Intelligent Study
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
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