Endovascular Abdominal Aortic Aneurysm Repair Devices Market Size is valued at USD 2.43 Bn in 2023 and is predicted to reach USD 3.53 Bn by the year 2031 at a 4.9% CAGR during the forecast period for 2024-2031.
Endovascular abdominal aortic aneurysm (AAA) repair devices are minimally invasive tools designed to treat abdominal aortic aneurysms. These devices, primarily stent grafts, are inserted into the weakened section of the aorta via small incisions in the groin using catheters. The stent graft, a fabric tube supported by a metal mesh, reinforces the aortic wall, preventing the aneurysm from rupturing. The procedure is guided by advanced imaging techniques for precise placement. Favourable reimbursement policies and increasing healthcare expenditure in developing regions further propel market expansion. However, challenges like high treatment costs and limited access to advanced healthcare facilities may hinder market growth in some regions. Nonetheless, key players' strategic collaborations and product innovations are expected to sustain market growth.
The COVID-19 pandemic significantly impacted the Endovascular Abdominal Aortic Aneurysm Repair Devices Market. Elective procedures faced postponements due to healthcare facility prioritization for COVID-19 patients and reduced patient visits. Supply chain disruptions and logistical challenges hindered the availability of devices. However, increased adoption of telemedicine facilitated pre-operative consultations and post-operative care, partially mitigating the impact. Moreover, the market witnessed a gradual recovery with the resumption of elective surgeries and the implementation of stringent safety protocols in healthcare settings. Despite initial setbacks, the market is anticipated to rebound as healthcare systems adapt to the new normal and address the backlog of postponed procedures.
The market is segmented by product type, age group, material, aortic length and end-user. By product type, the market is divided into Synthetic Fabric Graft, Stent-graft. According to age group, this market is categorized into Adult, Geriatric, and Pediatric. The material segment comprises Polymer and Metal. As per the Aortic Length, the market consists of Above 50 mm and Above 100 mm. Lastly, the end-user segment is categorized into hospitals, ambulatory surgical centres (ASCs), research institutes, and others.
Stent grafts are a dominant product segment in the global endovascular AAA repair devices market, which is expanding rapidly. The ageing population and growing demand for less invasive endovascular therapies drive the demand for abdominal aortic aneurysm devices. Because they are less intrusive, stent-grafts provide patients with better outcomes, shorter hospital stays, and quicker recovery times than open surgical treatments. The extensive use of stent grafts in abdominal aortic aneurysm repair surgeries globally is supported by favourable reimbursement policies, improvements in imaging, and interventional techniques.
The hospital segment was valued as the most significant share based on application. Hospitals can complete these complex treatments because of their state-of-the-art healthcare infrastructure and qualified medical staff. Hospitals are more likely to accept patients for endovascular abdominal aortic aneurysm repair due to increased awareness among patients and healthcare professionals about its benefits. Hospital adoption of endovascular abdominal aortic aneurysm repair devices is expected to increase.
North America's Endovascular Abdominal Aortic Aneurysm Repair Devices Market boasts the highest market share for several reasons. North America is expected to witness lucrative growth due to increased incidence of chronic diseases—countries like the U.S. focus on well-established healthcare infrastructure with advanced technological support, including sports medicine. The participation of major market players in this region has increased production capacities. In addition, the rising popularity of sports in this region is crucial in the market growth. The market in Asia Pacific is expected to experience moderate growth due to the high demand for point-of-care testing. Additionally, the rise in the incidence of diabetes in countries such as China and India has led to an increase in sales of lactometers. Europe's market is projected to grow steadily due to a surge in awareness about early diagnosis and treatment of chronic diseases.
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 2.43 Bn |
|
Revenue Forecast In 2031 |
USD 3.53 Bn |
|
Growth Rate CAGR |
CAGR of 4.9 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Product Type, Age Group, Material, Aortic Length And End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Terumo Medical Corporation, Medtronic Plc, Becton, Dickinson and Company, Koninklijke Philips N.V., Lombard Medical Inc, Cook Medical, Endologix Inc, Abbott Laboratories, Cardinal Health Inc, W. L. Gore & Associates Inc., Boston Scientific Corporation, Cook Group Incorporated, Other Prominent Players |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Endovascular Abdominal Aortic Aneurysm Repair Devices Market By Product Type-
Endovascular Abdominal Aortic Aneurysm Repair Devices Market By Age Group-
Endovascular Abdominal Aortic Aneurysm Repair Devices Market By Material
Endovascular Abdominal Aortic Aneurysm Repair Devices Market By Aortic Length
Endovascular Abdominal Aortic Aneurysm Repair Devices Market By End-User
Endovascular Abdominal Aortic Aneurysm Repair Devices Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
