According to the latest report published by Acute Market Reports, Inc. “Aortic Stent Grafts Market By Product (Abdominal Aortic Stent Graft, Thoracic Aortic Stent Graft), By End-User (Hospitals, Ambulatory Care Centers) – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the market for Aortic Stent Grafts was valued at USD 1,605.3 million in 2017 and is anticipated to achieve USD 3,293.4 million by 2026, increasing to CAGR by 8.1 per cent from 2018 to 2026.
Endovascular aneurysm repair (EVAR) is a novel therapy for abdominal or thoracic aortic aneurysm with the significant benefit of being minimally invasive and extremely effective compared to open surgery. According to the Centers for Disease Control and Prevention, aortic aneurysms occur in 3 per cent of individuals over 50 years of era and between 5 per cent and 8 per cent of males over 65 years of era. People at the greatest danger are males who smoke and have hypertension. If left undiagnosed, an aortic aneurysm with a diameter of more than 6 cm has a 5-year mortality rate of 25 to 40 per cent, which is alarming. Diagnostic methods have evolved considerably over the decade leading to early diagnosis of disease. Introduction of multiple open medical platforms for patients and physicians has improved patients ‘ understanding and understanding of the hazards associated with lifestyle diseases and preventive measures.
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Aortic stent grafts marketed on the grounds of products such as abdominal aortic stent grafts and thoracic aortic stent grafts. Abdominal aortic stent grafts accounted for the biggest market share in 2017 owing to the elevated incidence of abdominal aortic aneurysm, the increasing preference for minimally invasive surgeries, and the technological advancement of aortic stent grafts.
Market segmentation carried out on the grounds of end-users is made up of hospitals and outpatient centers. Hospitals segment was recognized as the biggest and fastest growing segment in the forecast period from 2018 to 2026 owing to an increasing amount of hospitals in Asia Pacific that fulfill the requirements of an increasing population, and clinics are recognized as the first point of contact for aneurysm patients. However, the United States is the only nation where the situation is distinct owing to increased preference for outpatient care facilities over hospitals due to cost-effectiveness and high accessibility.
Market Competition Assessment:
The aortic stents grafts market is progressing and most of the largest players in the market are focusing on product improvement and minimizing post-surgery complications. The major players functioning in this market are Medtronic Plc, Cardinal Health, Inc., Cook Medical Inc., W.L. Gore & Associates Inc., Terumo Corporation Inc., ENDOLOGIX, INC., Lombard Medical, Inc., CryoLife, Inc., MicroPort Scientific Corporation, Altura Medical, and Aptus Endosystems among others.
Key Market Movements:
- Increasing prevalence of aneurysm in developed as well as developing countries
- Prevalence of thoracic aortic aneurysm is around 4.2% of the population living without hypertension. Major cases of thoracic aortic aneurysms occur in the aortic arch or the ascending aorta. In chronic cases aneurysm rupture accounts for 60% of deaths globally.
- Rising patient awareness related to early disease diagnosis, reimbursement policies, and efficient treatment options
- High rate of product recalls, scarcity of trained healthcare providers, low awareness regarding new EVAR treatment options among patients and risk of endoleaks are the major restraining factors affecting growth of this market
By Product Type Segment (2016–2026; US$ Mn)
- Abdominal Aortic Stent Graft
- Thoracic Aortic Stent Graft
By End-User Segment (2016–2026; US$ Mn)
- Ambulatory Surgical Centers
By Geography Segment (2016–2026; US$ Bn)
- North America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America