The global aortic aneurysm market size is estimated to reach USD 4.71 billion by 2026 registering a CAGR of 8.6%, according to a new report by Grand View Research, Inc. Growing geriatric population in developed countries and rise in the number of tobacco smokers are expected to be the key factors driving the global market. Technological advancements in endovascular surgical procedures will augment the market growth further.
Cases of Abdominal Aortic Aneurysms (AAAs), especially in men aged 65 years and above, surpassed the number of Thoracic Aortic Aneurysm Repair (TAA) by threefold. This has increased the demand for advanced stent-graft systems for AAA. Due to the lack of multiple treatment options and being a complex procedure, TAA procedures are fewer. This offers a lucrative opportunity to the manufacturers for developing advanced products for Thoracic Endovascular Aneurysm Repair (TEVAR).
Companies in the market focus on M&A activities to gain higher market share. For instance, leading companies, such as Medtronic, Endologix, and Terumo, acquired smaller firms to expand their product portfolios and geographical reach. In addition, recent FDA approvals have aided in overall market growth. For example, in 2016, Cook Medical received commercialization rights for its Zenith product line in the U.S market for TEVAR.
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Further key findings from the study suggest:
In 2018, AAA segment held the largest share of the global aortic aneurysm market on account of high disease incidences
Stent grafts held a major market share, in terms of sales revenue, in 2018, as they have more than 50% share in the overall surgical treatment cost of a patient
Endovascular Aortic Aneurysm Repair (EVAR), which includes minimally invasive surgeries, is expected to be the fastest-growing segment in future as it is more efficient than open aneurysm due to fewer postsurgical adverse effects
North America held the highest revenue share in 2018 followed by Europe on account of well-established healthcare infrastructure, access to advanced screening and diagnostic tools for AAA, and favorable reimbursement scenario in the region
Cook Medical Devices Pvt. Ltd., Medtronic PLC, Lifetech Scientific Corp., and Gore Medical are some of the key companies in the global market
Grand View Research has segmented the global aortic aneurysm market on the basis of type, treatment, product, end use, and region:
Aortic Aneurysm Type Outlook (Revenue, USD Million, 2014 - 2026)
Thoracic Aortic Aneurysm (TAA)
Abdominal Aortic Aneurysm (AAA)
Aortic Aneurysm Treatment Outlook (Revenue, USD Million, 2014 - 2026)
Open Surgical Repair (OSR)
Endovascular Aneurysm Repair (EVAR)
Aortic Aneurysm Product Outlook (Revenue, USD Million, 2014 - 2026)
Aortic Aneurysm End Use Outlook (Revenue, USD Million, 2014 - 2026)
Ambulatory Surgery Centers (ASCs) & Clinics
Aortic Aneurysm Regional Outlook (Revenue, USD Million, 2014 - 2026)
Middle East and Africa
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