Market Analysis and Insights:
The market for Global Aortic Aneurysm was estimated to be worth USD XX billion in 2021, and from 2021 to 2031, it is anticipated to grow at a CAGR of XX%, with an expected value of USD XX billion in 2031.
The growth drivers of the Aortic Aneurysm Market encompass a rising elderly demographic, escalated occurrence of risk factors like hypertension and smoking, advancements in diagnostic technologies, and the presence of enhanced treatment choices. The increase in the aging population plays a vital role as aortic aneurysms mainly impact older individuals. Moreover, the widespread prevalence of risk factors, notably hypertension and smoking, leads to a higher incidence rate of aortic aneurysms. Progress in diagnostic tools, including enhanced imaging techniques, has facilitated early detection and precise diagnosis of aortic aneurysms, thereby propelling market expansion. Furthermore, the accessibility of advanced treatment alternatives such as endovascular aneurysm repair (EVAR) and minimally invasive surgeries has offered efficient options compared to conventional surgical procedures, fostering market growth. When coupled with the growing awareness among patients and healthcare providers, these factors are poised to drive the Aortic Aneurysm Market's development in the foreseeable future.
Aortic Aneurysm Market Scope:
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2031 |
| Study Period | 2018-2031 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2031 | USD XX billion |
| Growth Rate | CAGR of XX% during 2021-2031 |
| Segment Covered | By Type, By Product, By Treatment, By End-user, By Region. |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Medtronic, Terumo Corporation, Cook Medical, Endologix, Cardinal Health, W.L. Gore & Associates, Lombard Medical, Jotec, Microport Scientific Corporation, and Cryolife. |
Market Definition
An aortic aneurysm is characterized by an irregular dilation or weakening in the walls of the aorta, the primary vessel responsible for transporting oxygen-rich blood from the heart to various parts of the body. Neglecting to address this condition can lead to significant health implications, necessitating potential medical procedures like surgical correction.
Aortic aneurysm is a medical condition marked by the weakening and expansion of the aorta, the primary artery responsible for carrying oxygenated blood throughout the body. The gravity of this condition cannot be overstated, as it can have dire, life-threatening ramifications if not addressed promptly. The crux of the matter lies in the fact that an aortic aneurysm has the potential to burst, resulting in severe internal bleeding and possibly deadly outcomes. Swift recognition and proper treatment of aortic aneurysm are essential in averting rupture and the subsequent mortal risks involved. It is also recommended that individuals with a family history of aortic aneurysm or those who exhibit predisposing factors like smoking, high blood pressure, and advanced age, undergo routine screenings to capture the condition at an early phase, facilitating immediate intervention and better prognosis for the patient. By grasping the significance of aortic aneurysm, one can appreciate the imperative need for proactive strategies to forestall its adverse effects and safeguard the health of those susceptible to its development.
Key Market Segmentation:
Insights On Key Type
Abdominal Aortic Aneurysm (AAA)
The Abdominal Aortic Aneurysm (AAA) type is expected to dominate the Global Aortic Aneurysm Market. This is primarily due to the higher prevalence of AAA compared to TAA. AAA occurs in the lower part of the aorta, which is more prone to arterial wall weakening and dilation. Moreover, the risk factors associated with AAA, such as advancing age, smoking, obesity, and family history, contribute to its higher prevalence. As a result, the Abdominal Aortic Aneurysm part is likely to have a larger market share and drive the growth of the Global Aortic Aneurysm Market.
Thoracic Aortic Aneurysm (TAA)
Although the Abdominal Aortic Aneurysm (AAA) type is expected to dominate the Global Aortic Aneurysm Market, the Thoracic Aortic Aneurysm (TAA) type also holds significant market potential. TAA refers to the dilation of the aorta in the upper part of the chest, and it can be caused by various factors such as connective tissue disorders, genetic conditions, and high blood pressure. While TAA has a lower prevalence compared to AAA, it can be more life-threatening due to the risk of aortic rupture or dissection. This highlights the importance of effective diagnosis and treatment options for TAA. Consequently, the Thoracic Aortic Aneurysm part is projected to have a considerable market share in the Global Aortic Aneurysm Market.
Insights On Key Product
Stent-Grafts
Stent-Grafts are expected to dominate the Global Aortic Aneurysm Market. Stent-Grafts are widely used in the treatment of aortic aneurysms as they provide a minimally invasive solution compared to traditional surgery. These devices not only reinforce the weakened artery walls but also maintain normal blood flow, reducing the risk of rupture. With advancements in technology, stent-grafts have become more effective and safer, leading to increased adoption by healthcare professionals. Additionally, the rising prevalence of aortic aneurysms, growing geriatric population, and favorable reimbursement policies have further propelled the demand for stent-grafts in the market.
Catheters
Catheters are another crucial component in the treatment of aortic aneurysms. While stent-grafts dominate the market, catheters play a supportive role in the delivery of stent-grafts during endovascular procedures. They facilitate precise positioning and deployment of the stent-grafts within the affected artery. However, catheters alone do not have a direct impact on the market domination, as their utilization is dependent on the primary treatment method—stent-grafts. Nonetheless, the demand for catheters is expected to grow in line with the increasing adoption of endovascular procedures for aortic aneurysm treatment.
Others
In the broader category of Others within the Product, we find various products used in the treatment of aortic aneurysms that do not fall under the specific parts of stent-grafts or catheters. These include guidewires, sheaths, sutures, and vascular closure devices, among others. Although these products are essential for aortic aneurysm interventions, their individual impact on market domination is relatively smaller compared to stent-grafts and catheters. These products are complementary in nature and are used in combination with stent-grafts and catheters for successful interventions. Therefore, while their demand is significant, they are not expected to surpass the dominance of stent-grafts in the Global Aortic Aneurysm Market.
Insights On Key Treatment
Endovascular Aneurysm Repair (EVAR)
Endovascular Aneurysm Repair (EVAR) is expected to dominate the Global Aortic Aneurysm Market. EVAR is a less invasive treatment option for aortic aneurysms, involving the use of stent grafts to reinforce and provide a barrier for the weakened vessel walls. This procedure offers several advantages over open surgical repair, including reduced hospital stay, shorter recovery time, and lower mortality rates. EVAR has gained popularity due to its minimally invasive nature and improved patient outcomes, making it the preferred choice for many patients and physicians in the treatment of aortic aneurysms.
Open Surgical Repair (OSR)
Open Surgical Repair (OSR) is another treatment option for aortic aneurysms but is expected to have a smaller market share compared to EVAR. OSR involves a traditional surgical approach, where the aneurysm is repaired by directly opening the abdomen or chest and grafting a synthetic tube to replace the weakened artery . While OSR has been a widely used method in the past, it is considered more invasive and has longer hospital stays and recovery periods compared to EVAR. However, OSR may still be preferred in certain cases where EVAR is not suitable, such as complex aneurysms or patients with anatomical limitations. Nonetheless, the overall market dominance is expected to be with EVAR due to its less invasive nature and associated benefits.
Insights On Key End-user
Ambulatory Surgery Centers (ASCs)
Ambulatory Surgery Centers (ASCs) is the player that is expected to dominate the Global Aortic Aneurysm Market. ASCs are specialized healthcare facilities where surgical procedures are performed on an outpatient basis. These centers offer a range of specialized services, including the diagnosis and treatment of aortic aneurysms. The dominance of ASCs in the market can be attributed to various factors. Firstly, ASCs provide convenient and cost-effective treatment options for patients with aortic aneurysms. Patients can undergo surgery and receive post-operative care without the need for overnight hospital stays, reducing the overall treatment cost. Additionally, ASCs are equipped with state-of-the-art technology and experienced healthcare professionals, ensuring high-quality care and positive patient outcomes. This combination of convenience, cost-effectiveness, and quality care positions ASCs as the leading part in the Global Aortic Aneurysm Market.
Hospitals & Clinics
Hospitals & Clinics is another significant player within the End-user category of the Global Aortic Aneurysm Market. Hospitals and clinics are traditional healthcare facilities that offer a comprehensive range of medical services, including the diagnosis and treatment of aortic aneurysms. These establishments have the necessary infrastructure, equipment, and medical expertise to handle complex cases and provide specialized care to patients with aortic aneurysms. Although ASCs may dominate the market due to their convenience and cost-effectiveness, hospitals and clinics still play a crucial role in treating aortic aneurysms, particularly in cases requiring intensive care or advanced surgical interventions. With their established reputation and accessibility, hospitals and clinics continue to serve a significant portion of patients in the Global Aortic Aneurysm Market.
Others
The Others category within the End-user category of the Global Aortic Aneurysm Market represents a diverse range of healthcare facilities that offer aortic aneurysm treatment but do not fall under the specific categories of hospitals, clinics, or ASCs. This part includes specialty centers, community health centers, and other healthcare providers that may have a smaller market share compared to ASCs and hospitals/clinics. While the exact dominance of this part cannot be determined without specific data, it is likely to have a relatively smaller market share compared to ASCs and hospitals/clinics. However, it is important to note that these facilities still contribute to the overall treatment landscape of aortic aneurysms, particularly in regions where ASCs and hospitals/clinics may be less accessible.
Insights on Regional Analysis:
Europe
Europe is expected to dominate the global Aortic Aneurysm market. The region has a significant patient pool suffering from Aortic Aneurysm, along with sophisticated healthcare infrastructure and a high adoption rate of advanced medical technologies. Moreover, factors such as increased awareness about early diagnosis and treatment options, favorable reimbursement policies, and a well-established healthcare system further support the growth of the Aortic Aneurysm market in Europe. Additionally, the presence of key market players and research institutions focusing on the development of innovative treatments and technologies contributes to the region's dominance in this market.
North America
As one of the well-developed healthcare sectors globally, North America is likely to be a key player in the global Aortic Aneurysm market. The region showcases a high prevalence of lifestyle diseases, including hypertension and atherosclerosis, which are significant risk factors for Aortic Aneurysm. Moreover, the advanced healthcare infrastructure, access to technological advancements, and favorable reimbursement policies in North America further boost the market growth. With a strong focus on research and development, the region is witnessing a surge in novel treatment options, such as endovascular aneurysm repair (EVAR) techniques, which are driving the market's growth.
Asia Pacific
Asia Pacific is emerging as a prominent player in the global Aortic Aneurysm market. The region has a growing elderly population and an increasing prevalence of risk factors like obesity, hypertension, and smoking, leading to a rise in Aortic Aneurysm cases. Despite the challenges in healthcare infrastructure in some countries, there are significant investments being made to improve healthcare facilities and access to advanced treatment options in Asia Pacific. Additionally, rising healthcare spending, growing awareness, and collaborations between international and local market players are contributing to the region's market growth in the Aortic Aneurysm .
Latin America
Latin America shows promising growth potential in the global Aortic Aneurysm market. The region has a large population with risk factors such as high blood pressure, smoking, and sedentary lifestyle, which increase the incidence of Aortic Aneurysm. Increasing focus on improving healthcare infrastructure, advancements in medical technologies, and rising adoption of minimally invasive procedures are driving the Aortic Aneurysm market in Latin America. Furthermore, initiatives aimed at raising awareness, early diagnosis, and treatment for vascular diseases are expected to contribute to the region's market expansion.
Middle East & Africa
The Middle East & Africa region is making notable progress in the global Aortic Aneurysm market. The region faces a high prevalence of risk factors, including hypertension, diabetes, and smoking, leading to an increased incidence of Aortic Aneurysm cases. Improvements in healthcare infrastructure, rising investment in healthcare, and the availability of advanced treatment options are contributing to the market's growth in the Middle East & Africa region. Moreover, the presence of a large underserved patient population and increasing awareness about early diagnosis and treatment of Aortic Aneurysm are expected to drive the market's expansion in this region.
Company Profiles:
Significant contributors within the international market for aortic aneurysm are instrumental in fostering creativity and enhancing cutting-edge medical advancements aimed at diagnosing, treating, and overseeing aortic aneurysms. This active involvement leads to enhanced patient results on a global scale.
Prominent companies in the Aortic Aneurysm Market are Medtronic, Terumo Corporation, Cook Medical, Endologix, Cardinal Health, W.L. Gore & Associates, Lombard Medical, Jotec, Microport Scientific Corporation, and Cryolife. These industry leaders are actively engaged in pioneering research, innovation, and commercialization of cutting-edge products and technologies aimed at diagnosing, treating, and managing aortic aneurysms. They offer a diverse array of medical devices, implants, and surgical tools tailored to meet the distinctive requirements of individuals afflicted by this condition. By driving continuous enhancement and progress in the sector, these pivotal entities not only elevate standards but also elevate patient well-being and quality of life through their exceptional products and services.
COVID-19 Impact and Market Status:
The worldwide market for aortic aneurysm has experienced a notable effect as a result of the Covid-19 pandemic, largely driven by disruptions in healthcare systems leading to delays in both diagnosis and elective surgeries.
The global healthcare landscape, already grappling with the challenges posed by the COVID-19 pandemic, has witnessed a significant impact on the aortic aneurysm market. Aortic aneurysm, a condition with potentially severe consequences, demands prompt diagnosis and treatment. The strain on healthcare infrastructure and the reallocation of resources towards managing the pandemic have disrupted the usual processes for diagnosing and treating aortic aneurysms. Non-urgent surgeries have been deferred or canceled, resulting in treatment delays for patients dealing with aortic aneurysms. Moreover, patient reluctance to access medical services due to the fear of contracting COVID-19 has exacerbated the situation. The disruptions in the supply chain caused by the pandemic have added to the challenges by affecting the availability of essential devices and equipment for aortic aneurysm treatment.
The COVID-19 pandemic has not only caused delays in the diagnosis and treatment of aortic aneurysms but has also hampered patient access to necessary care and presented challenges in the procurement of treatment resources. Given the ongoing battle against the pandemic, it is imperative for healthcare systems and manufacturers to swiftly adapt and devise innovative solutions to ensure the timely and efficient management of aortic aneurysms.
Latest Trends and Innovation:
- Medtronic, a leading medical technology company, announced on June 8, 2020, the acquisition of Medicrea, a pioneer in the development of personalized spinal implant systems.
- Cook Medical, a global medical device manufacturer, launched the Zenith Fenestrated+ Endovascular Graft on August 25, 2020, for the minimally invasive treatment of aortic aneurysms.
- Terumo Corporation, a Japanese medical device company, announced on November 6, 2019, the approval and launch of their controlled antegrade and retrograde direction system (CARDIOVASCULAR GUIDING SHEATH) for use in endovascular aneurysm repair.
- Endologix, a medical device company specialized in endovascular aortic repair, announced on April 6, 2021, the completion of its merger with TriVascular Technologies, strengthening their position in the aortic aneurysm market.
- W.L. Gore & Associates, known for their innovative medical products, received FDA approval on March 15, 2019, for their Excluder thoracoabdominal branch endoprosthesis, expanding their portfolio for treating complex aortic aneurysms.
Significant Growth Factors:
The expansion of the Aortic Aneurysm Market is chiefly fueled by the escalating incidence of cardiovascular ailments and the growing acceptance of minimally invasive surgical techniques.
The substantial expansion of the Aortic Aneurysm Market can be attributed to a multitude of factors. Primarily, the increasing incidence of aortic aneurysms, particularly prevalent among the elderly demographic, is propelling the demand for efficient diagnostic and treatment modalities. Furthermore, ened awareness surrounding this condition and advancements in medical technology have facilitated early detection and enhanced therapeutic strategies, thereby further catalyzing market progression. The escalating adoption of minimally invasive endovascular repair techniques, celebrated for their positive patient outcomes, has notably augmented market dynamics. Facilitating this growth is the availability of reimbursement schemes for aortic aneurysm interventions, widening patient accessibility to treatment options.
Additionally, the involvement of prominent industry entities in research and development endeavors to introduce innovative remedies and enhance healthcare efficacy is pivotal in driving market expansion. Despite obstacles such as exorbitant treatment expenses and procedural risks posing some impediment to market advancement, the aforementioned favorable factors, coupled with ongoing technological innovations and increased emphasis on early diagnosis and preventative measures, are poised to accelerate the Aortic Aneurysm Market's evolution in the foreseeable future.
Restraining Factors:
The market growth is hindered by the significant treatment expenses and the insufficient knowledge regarding aortic aneurysms.
The Aortic Aneurysm Market is constrained by various factors that impede its progress. Primarily, the exorbitant cost of treating aortic aneurysms presents a significant obstacle for individuals with limited financial means, restricting their access to effective treatment options. Moreover, there is a lack of awareness among the general populace regarding the symptoms and dangers associated with aortic aneurysms, leading to delayed detection and intervention, resulting in higher rates of morbidity and mortality. Additionally, the scarcity of proficient healthcare professionals and specialized facilities for aortic aneurysm care contributes to inadequate diagnosis and substandard patient management.
The intricate nature of aortic aneurysm surgeries and their elevated risks also deter patients from opting for surgical procedures, causing delays in treatment and an increase in complications. Furthermore, the availability of alternative treatment modalities, such as non-surgical or minimally invasive interventions, may draw patients away from conventional surgical methods, impacting the demand for surgical treatments in the market. Nevertheless, notwithstanding these challenges, advancements in medical technology and growing research endeavors present promising prospects for the development of innovative treatment approaches, enhanced accessibility, and improved patient outcomes within the Aortic Aneurysm Market.
Key Segments of the Aortic Aneurysm Market
Type Overview
• Abdominal Aortic Aneurysm (AAA)
• Thoracic Aortic Aneurysm (TAA)
Product Overview
• Stent-Grafts
• Catheters
• Others
Treatment Overview
• Endovascular Aneurysm Repair (EVAR)
• Open Surgical Repair (OSR)
End-User Overview
• Hospitals & Clinics
• Ambulatory Surgery Centers (ASCs)
• Others
Regional Overview
North America
• US
• Canada
• Mexico
Europe
• Germany
• France
• U.K
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
Middle East and Africa
• Saudi Arabia
• UAE
• Rest of Middle East and Africa
Latin America
• Brazil
• Argentina
• Rest of Latin America
Frequently Asked Questions (FAQ) :
The top companies that hold the market share in aortic aneurysm market are Medtronic, Terumo Corporation, Cook Medical, Endologix, Cardinal Health, W.L. Gore & Associates, Lombard Medical, Jotec, Microport Scientific Corporation, and Cryolife.
To get latest version of aortic aneurysm market report can be obtained on demand from the website.
The base year for the report is 2023 in aortic aneurysm market.