Aortic Aneurysm Market Size, Share & Trends Report

Aortic Aneurysm Market Size, Share & Trends Analysis Report By Type (TAA, AAA), By Treatment (OSR, EVAR), By Product (Stent Graft, Catheter), By End Use (ASC, Hospital), By Region, And Segment Forecasts, 2019 - 2026

  • Published Date: Feb, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-3-68038-043-9
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 100

Industry Insights

The global aortic aneurysm market size was valued at USD 2.5 billion in 2018 and is expected to register a CAGR of 8.6% from 2019 to 2026. Increasing geriatric population, poor dietary habits, and high incidence of Cardiovascular Diseases (CVDs) are some of the factors impelling the demand for novel treatments and devices for thoracic and abdominal aneurysm repair, which, in turn, is expected to drive the market. Smoking, which has become a global concern, is also contributing to the growth of this market.

Low- and middle-income countries in particular face major concerns regarding smoking due to the lack of awareness about the harmful effects of smoking on health and associated risk of developing aneurysm. The regulatory and reimbursement scenarios vary across regions.

U.S. aortic aneurysm market

In developed countries, such as U.S., stringent regulations govern new product launches to maintain quality of the products.

However, the reimbursement scenarios for surgical treatment of aortic aneurysms are mostly favorable. More than 70 % of the total cost of treatment is covered by compulsory Medicare policy, which is provided by the government of U.S. In developing countries, such as China and India, flexible regulations for medical devices allow local manufacturers to launch low-cost products.

On the other hand, lower reimbursements result in higher costs of treatments, which is a major factor restraining the market development in such regions. However, continuous advancements, in terms of technology, in endovascular surgical procedures is projected to augment the growth of the market over the next few years.

Type Insights

The global market is segmented into Thoracic Aortic Aneurysm (TAA) and Abdominal Aortic Aneurysm (AAA) by type. Abdominal aortic aneurysm was the largest segment in 2018, which can be attributed to the increased disease incidence. AAA is more common in the lower abdominal part, and most of the cases of AAA either occur at the infrarenal or juxtarenal part of the lower abdomen. Collectively, by volume, the number of repairs being performed for infrarenal and juxtarenal is much higher as compared to thoracic aneurysms.

Steady growth of thoracic segment can be attributed to the low incidence of TAA and unavailability of advanced devices for its management by endovascular methods. However, with technological and product advancements, this segment is anticipated to gain momentum during the forecast period. For instance, in June 2017, Castor received China Food and Drug Administration (CFDA) approval for its thoracic stent graft system. It is the world’s first stent graft designed for endovascular management of thoracic aorta and great vessels of the arch, simultaneously.

Products Insights

Based on product type, the market is segmented into stent grafts and catheters. The stent graft segment held a major market share in 2018. It is expected to exhibit the highest CAGR during the forecast period on account of technological advancements in stent graft designing. For instance, advanced stent graft systems are being launched with inbuilt imaging and delivery catheter. On the other hand, use of catheters for blood vessel expansion and for occlusion adds to the extra expense in the overall treatment cost.

Aortic aneurysms weaken the aorta, which is the largest blood vessel. Rupture of aneurysms can be fatal and cause heavy internal bleeding. Endovascular implantation of stent grafts, also known as endografting, at the site of aneurysm via delivery catheters is an advanced and less invasive approach than open surgery for repairing thoracic abdominal aortic aneurysms. In EVAR, the stent graft is used to reinforce the aortic wall to prevent the damaged area from rupturing.

End-use Insights

On the basis of end use, the market is segmented into hospitals and Ambulatory Surgical Centers (ASCs) & clinics. The hospitals segment held the largest market share in 2018, whereas ASCs are anticipated to expand at the highest CAGR over the forecast period. This is due to the benefits offered by ASCs, such as reduced hospital stay and overall treatment costs.

In addition, rising prevalence of aortic aneurysm, especially in the developed countries, and need for prompt treatment are likely to drive the ASC segment. However, the hospital segment is anticipated to continue to lead the market, as it is the most-preferred setting by physicians and vascular surgeons, especially in the developing region. The elaborate set up in hospitals enables treating complex cases that cannot be managed in ASCs.

Treatment Insights

On the basis of treatment type, the market has been categorized into Open Surgical Repair (OSR) and endovascular Aneurysm Repair (EVAR). The EVAR segment led the global market in 2018 and is expected to witness the fastest CAGR during the estimated time period.

This growth can be attributed to the globally increasing adoption of endovascular treatment coupled with technological advancements, aiding shorter hospital stays and lower morbidity associated with aortic aneurysm repair.

Global aortic aneurysm market

The OSR procedures are highly invasive and require a longer recovery period as compared to endovascular method. However, OSR is the only treatment option available for low-risk patients with simpler anatomy. Endovascular treatment is the method of choice for surgeons and can only be undertaken in high-risk patients with complex anatomies; if a patient can be treated by open repair, endovascular surgery is not recommended.

Regional Insights

North America accounted for the largest market share in 2018, due to rapid technological advancements, product developments, collaborative agreements, and high incidence of AAAs.

The Screening Abdominal Aortic Aneurysms Very Efficiently (SAAAVE) Act enforced by the U.S. government in 2014 offers one free AAA screening for men who have smoked at least once in their life and women with a family history of the condition. Moreover, high reimbursements offered by the governments in developed nations is another factor aiding overall market growth.

For instance, Medicare in U.S. covers one abdominal aortic ultrasound for patients at risk. Europe is also anticipated to account for a significant market share during the forecast period due to technological advancements and high prevalence atherosclerosis. International organizations, such as the National Health Service (NHS) and U.S. FDA, are working toward reducing the incidence of aortic aneurysm.

For instance, the Public Health England screening program by the NHS in Europe is a national population screening program that helps identify healthy people who may be at a risk of developing aortic aneurysm. This, in turn, enables early treatment and informed decisions. Asia Pacific is expected to witness the fastest CAGR during the forecast period on account of rising geriatric population and incidence of cardiovascular diseases & hypertension, growing disposable income, and developing healthcare infrastructure.

Aortic Aneurysm Market Share Insights

Some of the major companies include Medtronic PLC; Endologix, Inc.; Gore Medical; MicroPort Scientific Corporation; and Cook Medical, Inc. However, the market has a majority of mid- and small-sized companies. Mergers & acquisitions is one of the key strategies adopted by most of the major market players. For instance, in April 2018, Bolton Medical and Vascutek merged to form a single business to strengthen the position in the global aortic and vascular implants market.

In April 2017, Endovascular Technology Corp., a subsidiary of MicroPort Scientific Corp., acquired shares in Lombard Medical Technologies GmbH and Lombard Medical Limited. With this acquisition, MicroPort continued its association with Lombard and commercialized its two stent-graft technologies - Aorfix and Altura. Later in the same year, JOTEC was acquired by Cryolife Inc. However, the domestic manufacturers in every region pose a stiff competition to the international firms by providing low-priced stent grafts.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2026

Market representation

Revenue in USD Million and CAGR from 2019 to 2026

Regional scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Country scope

U.S., Canada, U.K., Germany, Italy, France, Spain, Japan, China, India, Australia, South Korea, Mexico, Brazil, Saudi Arabia, and South Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2026. For the purpose of this study, Grand View Research has segmented the global aortic aneurysm market report on the basis of type, treatment, product, end use, and region:

  • Type Outlook (Revenue, USD Million, 2014 - 2026)

    • TAA

    • AAA

  • Treatment Outlook (Revenue, USD Million, 2014 - 2026)

    • OSR

    • EVAR

  • Product Outlook (Revenue, USD Million, 2014 - 2026)

    • Stent Grafts

    • Catheters

  • End Use Outlook (Revenue, USD Million, 2014 - 2026)

    • Hospitals

    • ASCs and Clinics

  • Regional Outlook (Revenue, USD Million, 2014 - 2026)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

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