-0.8 C
New York
Wednesday, February 21, 2024

In-Depth analysis of endovascular aneurysm repair market

Endovascular aneurysm repair (EVAR) is a method of treating an aortic aneurysm. These benefits include less time in the hospital, quick recovery, better patient outcomes, and no abdominal surgery. The EVAR operation is the “standard intervention” for abdominal aortic aneurysms (AAA). In this operation, a stent is inserted into the aorta’s aneurysmal area to create a permanent alternate blood flow pathway within the patient’s vasculature and stop the aneurysmal sac from being under blood flow pressure and rupturing.

The market for endovascular aneurysm repair in 2021 was USD 3.03 billion and will reach USD 5.03 billion by 2030 at a 5.8% CAGR.

Although EVAR has greatly reduced procedural risks and recovery time compared to conventional open surgery, there is still room for improvement. However, market participants have created cutting-edge technologies for the next generation to overcome such difficulties. For instance, Endologix Inc., the first and only endovascular sealing solution helpful in preventing all forms of endoleaks, has game-changing new-generation Nellix technology and got FDA approval for its percutaneous endograft delivery system.

Market Dynamics

Drivers

The ageing population in industrialized nations and the rise in cigarette smokers will boost the global market. The technical advancements that are now taking place will also assist endovascular surgical treatments, greatly accelerating market growth. The global market for endovascular aneurysm repair is driven by the growing adoption of endovascular stent grafts and the launch of next-generation stent grafts like Excluder (W. L. Gore & Associates, Inc.), Zenith (Cook Medical Inc.), and many others. Furthermore, the availability of a wide range of aortic aneurysm devices will undoubtedly draw in a patient population due to greater awareness in emerging markets, providing the EVAR market with lucrative growth opportunities.

Restraints

The high expense of endovascular aneurysm repair therapy methods and a lack of public knowledge are limiting its progress. Additionally, this operation carries a number of hazards, including the possibility of iliac perforation, aneurysmal rupture, stenosis of the stent, endoleaks, and end tension. 

Opportunities 

Future EVAR procedures will be highly effective since they are a safe, reliable, and long-lasting alternative to aortic rupture procedures. As a result, it will encourage the market to expand in the next years. Additionally, among men 65 years of age and older, abdominal aortic aneurysms (AAAs) were three times more common than thoracic aortic aneurysm repairs (TAA). There is an increased demand for enhanced stent-graft systems to treat AAA. However, TAA therapies are less prevalent because there aren’t many different therapeutic tools available, and they’re challenging. This presents a profitable opportunity for manufacturers to develop cutting-edge treatments for treating thoracic endovascular aneurysms (TEVAR).

Market Segmentation 

  • Abdominal and thoracic market segments are created based on type. In revenue, the thoracic sector significantly dominated the endovascular aneurysm repair market in 2021. The ongoing development of the thoracic segment may be responsible for the low prevalence of TAA and the absence of sophisticated endovascular treatment devices.
  • The Hospitals segment considerably ruled the entire market based on End-User because the majority of patients choose to receive their treatments on the hospital’s grounds.

Additionally, due to various government policies, Ambulatory Surgical Centers will grow at the quickest CAGR of 7.2%.

Regional Insights

Regionally, North America significantly contributed to the highest market with 33% of the revenue share. It is caused by the high occurrence of aneurysms and the elements that favor their growth. The region also focuses on creating and innovating reliable medical infrastructure items fostering the market growth. In the USA, about 116 million adults, or nearly half of all adults, have hypertension, which is the main cause of aneurysms.

Asia-Pacific will grow significantly throughout the projection period. It is due to recent developments in medical research and the governing priorities of nations like Korea and Japan to quickly improve and launch new EVAR-related products. Additionally, factors like diabetes significantly contribute to the growth of this market. For instance, diabetes mellitus, one of the major risk factors for aneurysm development, affects 77 million adults in India.

Key Players

  • Cook Group Incorporated
  • W. L. Gore & Associates Inc.
  • Medtronic plc
  • Gamida Cell Ltd.
  • JOTEC GmbH
  • Bolton Medical Inc.
  • Getinge AB (Maquet)
  • Endologix Inc.
  • Shanghai MicroPort Medical (Group) Co. Ltd.
  • Terumo Corporation
  • Cardinal Health
  • Lombard Medical Limited

The market for endovascular aneurysm repair in 2021 was USD 3.03 billion and will reach USD 5.03 billion by 2030 at a 5.8% CAGR. The rise in the prevalence of vascular diseases, such as pulmonary embolism, cardiac conditions, and atherosclerosis, increases the need for grafts for medical treatment are fostering market expansion. Additionally, the government is taking steps to raise knowledge about the availability of aneurysm treatment techniques and equipment. 

Uneeb Khan
Uneeb Khan
Uneeb Khan CEO at blogili.com. Have 4 years of experience in the websites field. Uneeb Khan is the premier and most trustworthy informer for technology, telecom, business, auto news, games review in World.

Related Articles

Stay Connected

0FansLike
3,912FollowersFollow
0SubscribersSubscribe

Latest Articles