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The global Endovascular Abdominal Aortic Aneurysm (AAA) Repair Devices Market size is estimated to grow by USD 697.78 million at a CAGR of 5.16% between 2022 and 2027.
The global endovascular abdominal aortic aneurysm repair devices market is expanding as a result of the aging population and the rising occurrence of abdominal aortic aneurysms worldwide. Age-related blood vessel changes increase the risk of developing abdominal aortic aneurysms. Endovascular repair devices offer effective treatment alternatives to address this issue. As a result of changing demographics and a considerable emphasis on healthcare infrastructure, nations such as Asia and Latin America are experiencing an increase in the occurrence of abdominal aortic aneurysms, which is boosting demand for endovascular repair devices.
Technavio has segmented the market into:
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
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The market share growth by the hospital segment will be significant during the forecast period. The global endovascular abdominal aortic aneurysm (AAA) repair devices market is dominated by hospitals as an end-user. The prevalence of abdominal aortic aneurysms and an aging population have increased the need for minimally invasive endovascular procedures in hospitals.
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The hospital segment was valued at USD 1,793.95 million in 2017. Hospitals are able to successfully complete these complex treatments because of their state-of-the-art healthcare infrastructure and qualified medical staff. Hospitals are more likely to accept patients for endovascular abdominal aortic aneurysm repair due to increased awareness among patients and healthcare professionals about its benefits. The adoption of endovascular abdominal aortic aneurysm repair devices from hospitals is expected to increase, thereby driving the growth of the endovascular abdominal aortic aneurysm (AAA) repair devices market in focus during the forecast period.
Stent grafts are a dominant product sub-segment in the global endovascular abdominal aortic aneurysm repair devices market and are expanding rapidly. The aging population and growing demand for less invasive endovascular therapies drive the demand for abdominal aortic aneurysm devices. Stent grafts provide patients with better outcomes, shorter hospital stays, and quicker recovery times than open surgical treatments because they are less intrusive. The extensive use of stent grafts in abdominal aortic aneurysm repair surgeries globally is further supported by favorable reimbursement policies, improvements in imaging, and interventional techniques.
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North America is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. In North America, the endovascular abdominal aortic aneurysm (AAA) repair devices market experienced tremendous growth in 2022. The need for minimally invasive endovascular devices to treat abdominal aortic aneurysms is increasing with the aging population.
Moreover, in order to facilitate the adoption of endovascular abdominal aortic aneurysm Repair Devices techniques, there has also been an increasing focus on clinical guidelines and payment rules. Due to the inclination for less intrusive treatment alternatives and growing awareness of aortic health, the regional market in focus is expected to keep on growing during the forecast period.
The COVID-19 pandemic negatively affected the market for endovascular abdominal aortic aneurysm repair devices in North America in 2020 because it disrupted elective medical procedures and hospital cAPACity for COVID-19 patient management. However, the regional market steadily rebounded, particularly in the second half of 2020, when healthcare systems changed and elective procedures restarted. The regional market for endovascular abdominal aortic aneurysm repair devices rebounded in 2021 due to the increased availability of COVID-19 vaccines and improved healthcare protocols., which enabled healthcare institutions to handle COVID-19 cases and elective treatments more skillfully. The market in the region is expected to witness growth during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 14 market companies, including:
Braile Biomedica - The company offers endovascular abdominal aortic aneurysm repair devices through its subsidiary Jotec.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key trends and challenges.
The shift towards custom-made and off-the-shelf fenestrated and branched endograft is a primary trend in the market growth. The global market for endovascular abdominal aortic aneurysm repair devices is trending towards custom-made and off-the-shelf fenestrated and branching endograft to treat complex aneurysms effectively. Endografts manufactured to order are tailored to each patient's anatomy, allowing for a precise fit in difficult circumstances where conventional implants would not be appropriate.
On the other hand, prefabricated fenestrated and branching endograft provide more easily accessible alternatives for particular anatomical configurations while cutting down on procedure time and expense. The development of endovascular technology provides specialized treatment options for patients with complex aortic aneurysms., is a trend that is projected to support market expansion and enhance patient care during the forecast period.
The high costs associated with endovascular procedures and devices are a major challenge in the endovascular abdominal aortic aneurysm repair devices market. The endovascular abdominal aortic aneurysm repair devices market encounters significant obstacles because of the costly treatments and equipment, which restricts accessibility in certain regions. The high-end technology, specialized tools, and experienced medical staff needed to carry out these treatments successfully are to blame for the costs.
However, the endovascular devices used to repair abdominal aortic aneurysms are now available to patients worldwide, this issue would require initiatives to lower manufacturing costs, enhance healthcare infrastructure, and explore cooperation with governments and philanthropic organizations. Failing to overcome this challenge would lead to hindrances in the growth of the market in focus during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Endovascular Abdominal Aortic Aneurysm Repair Devices Market Customer Landscape
The endovascular abdominal aortic aneurysm repair devices market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Endovascular Abdominal Aortic Aneurysm Repair Devices Market Scope |
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Report Coverage |
Details |
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Page number |
158 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.16% |
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Market growth 2023-2027 |
USD 697.78 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.63 |
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Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
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Performing market contribution |
North America at 46% |
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Key countries |
US, Germany, UK, Japan, and China |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Braile Biomedica, Cardinal Health Inc., Cook Group Inc., Edwards Lifesciences Corp., Endologix LLC, Koninklijke Philips N.V., LeMaitre Vascular Inc., Lifetech Scientific Corp, Medtronic Plc, MicroPort Scientific Corp., Terumo Corp., W. L. Gore and Associates Inc., Artivion Inc., and Lombard Medical Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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