Market
Analysis
The
global aortic aneurysm market is predicted to grow at an 8.4% CAGR between
2019-2023, reveals the latest Market Research Future (MRFR) report. An aortic
aneurysm, simply put, is an enlargement of the aorta, which is above 1.5 times
more than the normal size. Generally, this condition has no symptoms except if
ruptured. During enlargement, people may experience a few symptoms, such as a
pulse near their bellybutton, back pain, and constant, deep pain on the side of
the abdomen or the abdomen. Aortic aneurysm is of two types- abdominal aortic
aneurysm and thoracic aortic aneurysm.
Various
factors are propelling the Aortic
Aneurysm Market growth. These factors, as stated by the latest Market
Research Future (MRFR) report, include demand for minimally invasive treatment,
rising adoption of endovascular aneurysm repair procedures, an increase in
tobacco consumption, and a rise in the geriatric population. Additional factors
pushing market growth include poor dietary habits, high prevalence of
cardiovascular diseases, and mounting technological advancements.
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On
the flip side, the high price of treatment and devices and low reimbursement
rates are factors that may deter the aortic aneurysm market growth during the
forecast period.
Key
Players
Cardinal Health, Inc, JO0TEC AG
(CryoLife, Inc.), Lombard Medical Limited, W. L. Gore & Associates,
Endologix, Inc., MAQUET Holding B.V. & Co. KG, Microport Scientific
Corporation, Terumo Medical Corporation, Cook Medical, and Medtronic Plc.
Market
Segmentation
The
MRFR report provides an all-inclusive segmental analysis of the aortic aneurysm
market on the basis of end user, treatment, product, and type.
Based
on type, the aortic aneurysm market is segmented into thoracic aortic aneurysm
(TAA), and abdominal aortic aneurysm (AAA). Of these, the abdominal aortic
aneurysm segment will have the largest share in the market over the forecast
period chiefly on account of the increasing incidence of the disease.
Based
on the product, the aortic aneurysm market is segmented into catheters, stent-grafts,
and others. Of these, the stent-graft segment will dominate the market over the
forecast period on account of technological advancements in stent-graft
designing. It is predicted to grow at the highest CAGR.
Based
on treatment, the aortic aneurysm market is segmented into open surgical repair
(OSR) and endovascular aneurysm repair (EVAR).
Based
on end user, the aortic aneurysm market is segmented into ambulatory surgery
centers (ASCs), hospitals and clinics, and others. Of these, hospitals and
clinics will dominate the market over the forecast period.
Regional
Analysis
By
region, the aortic aneurysm market report covers the latest trends and growth
opportunities across the Americas, the Middle East and Africa, the Asia
Pacific, and Europe. Of these, the Americas will lead the market over the
forecast period. Factors propelling the growth of the aortic aneurysm market in
the region include frequent launches of new devices in Canada as well as the
US, higher expenditure on healthcare, presence of major market participants in
the region, and presence of sophisticated healthcare and medical
infrastructure.
The
aortic aneurysm market in Europe is predicted to have the second-largest share
in the market over the forecast period. Factors propelling the growth of the
aortic aneurysm market in the region include favorable initiatives undertaken
by organizations for reducing the burden of aortic aneurysm and the highest
prevalence of tobacco smoking.
The
aortic aneurysm market in the APAC region is predicted to grow at the fastest
pace over the forecast period. Factors propelling the growth of the aortic
aneurysm market in the region include developing healthcare infrastructure in
Australia, China, and India, growing awareness about aortic aneurysm treatment,
increasing prevalence of hypertension and cardiovascular diseases, and growing
geriatric population.
The
aortic aneurysm market in the Middle East and Africa is predicted to have a
minimal share in the market over the forecast period. The major share is held
by the Middle Eastern region. Aortic aneurysm is extremely rare in the Middle
East regions, with few lives threatened by it annually.
Industry
News
October
2019: Medtronic has received a designation from the FDA for a stent-graft
system that has been designed for sealing off big aortic aneurysms that span
into the abdomen from the chest.
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