PUBLISHER: The Business Research Company | PRODUCT CODE: 1413937
PUBLISHER: The Business Research Company | PRODUCT CODE: 1413937
“Abdominal Aortic Aneurysm (AAA) Repair Devices Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on abdominal aortic aneurysm (Aia) repair devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for abdominal aortic aneurysm (Aia) repair devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The abdominal aortic aneurysm (Aia) repair devices market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Abdominal aortic aneurysm repair devices, designed for treating an abdominal aortic aneurysm-a condition arising from the weakening of a section of the aorta wall-are essential medical tools. In this condition, the elevated blood flow exerts pressure on the weakened area, causing it to expand and form an aneurysm. These devices, commonly known as stent grafts, are inserted into the aorta through a small incision in the groin. Once in place, they expand to provide support to the weakened section, preventing the risk of rupture.
There are two primary types of abdominal aortic aneurysm (AAA) repair devices, endovascular stent graft systems and synthetic graft systems. Endovascular stent grafts consist of fabric tubes supported by metal wire stents (scaffolds). Surgeons employ X-ray guidance to strategically place these grafts, reinforcing the weakened areas of the aorta and averting the possibility of rupture. These devices find extensive application in treating various sites, including infrarenal AAA and pararenal AAA. They are employed in both traditional and complex anatomies, with end-users such as hospitals, ambulatory surgical centers, and others playing a crucial role in their utilization.
The abdominal aortic aneurysm (AAA) repair devices market research report is one of a series of new reports from The Business Research Company that provides abdominal aortic aneurysm (AAA) repair devices market statistics, including abdominal aortic aneurysm (AAA) repair devices industry global market size, regional shares, competitors with an abdominal aortic aneurysm (AAA) repair devices market share, detailed abdominal aortic aneurysm (AAA) repair devices market segments, market trends and opportunities, and any further data you may need to thrive in the abdominal aortic aneurysm (AAA) repair devices industry. This abdominal aortic aneurysm (AAA) repair devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The abdominal aortic aneurysm (aaa) repair devices market size has grown strongly in recent years. It will grow from $2.38 billion in 2023 to $2.52 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The expansion observed in the historical period can be ascribed to the evolution of surgical techniques, an aging population, increased healthcare accessibility, advancements in research and development, as well as the expertise and training of surgeons.
The abdominal aortic aneurysm (aaa) repair devices market size is expected to see strong growth in the next few years. It will grow to $3.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The anticipated growth in the forecast period is influenced by factors such as heightened awareness and education, a growing demand for cost-effective solutions, the regulatory landscape, escalating healthcare expenditure, and advancements in endovascular technology. Key trends expected in the forecast period encompass a surge in minimally invasive procedures, advancements in endovascular surgery, an increasing incidence of abdominal aortic aneurysms (AAA), changes in regulatory frameworks, and a shift towards patient-centric care.
The rise in the occurrence of abdominal aortic aneurysms is poised to drive the expansion of the abdominal aortic aneurysm repair devices market in the future. This medical condition manifests when a portion of the aorta wall weakens, and the substantial blood flow exerts pressure on the weakened area, causing it to expand outward and form an aneurysm. Abdominal aortic aneurysm repair devices, specifically stent grafts, play a crucial role in addressing this condition. These devices are inserted into the aorta through a small groin incision, expanding to provide support to the weakest section of the aorta and preventing potential rupture. A notable example is a report from Penn Medicine Lancaster General Health, a US-based not-for-profit health system, which revealed that approximately 200,000 people are diagnosed with abdominal aortic aneurysm (AAA) annually in the US. Consequently, the increasing incidence of abdominal aortic aneurysms is fostering the growth of the abdominal aortic aneurysm repair devices market.
The heightened prevalence of smoking is also anticipated to contribute to the growth of the abdominal aortic aneurysm (AAA) repair device market. Smoking, involving the burning of substances such as tobacco and the inhalation or tasting of resulting smoke, exposes individuals to nicotine and other potentially harmful chemicals. Abdominal aortic aneurysm (AAA) repair devices play a crucial role in mitigating the elevated risk associated with smoking. These devices offer effective interventions, reduce potential complications, and enhance outcomes through advanced treatment approaches. A statistic from the Centers for Disease Control and Prevention, a US-based government agency, in May 2023 indicated that approximately 28.3 million U.S. adults smoke cigarettes, with about 3.08 million U.S. middle and high school students using at least one tobacco product. On a daily basis, around 1,600 U.S. youth younger than 18 initiate smoking their first cigarette. Therefore, the high prevalence of smoking is propelling the growth of the abdominal aortic aneurysm repair devices market.
The abdominal aortic aneurysm repair devices market is witnessing a prominent trend driven by the increasing adoption of technological advancements. Companies within this market are actively integrating new technologies to fortify their positions. A case in point is Gore-Medical, a US-based company specializing in the manufacturing of medical devices for healthcare professionals. In March 2021, the company introduced the Excluder Conformable AAA Endoprosthesis With Active Control System. This device is characterized by enhanced device positioning, a conformable stent graft, and optional angulation control. Interventionalists can utilize the angulation control of the delivery system to angle the device for orthogonal placement to the aortic blood flow lumen, maximizing conformability and ensuring a secure seal.
Major players in the abdominal aortic aneurysm (AAA) repair devices market are intensifying their focus on introducing innovative medical simulation tools to gain a competitive edge. These tools are designed to replicate real-life clinical scenarios, enabling healthcare professionals to practice and enhance their skills in a controlled and risk-free environment. For instance, in January 2021, Koninklijke Philips N.V., a Netherlands-based company, launched a novel model for Abdominal Aortic Aneurysm (AAA). This model combines 3D ultrasound technology with innovative software, enhancing the monitoring of AAA. The Philips Abdominal Aortic Aneurysm Model aims to improve the experience and outcomes for clinicians and patients alike, providing high-quality images and performance for accurate diagnosis and monitoring. The associated software application detects, segments, and quantifies 3D ultrasound data, contributing to the surveillance of native and post-endovascular aneurysm repair (EVAR).
In April 2021, Endologix LLC, a US-based company specializing in minimally invasive devices, completed the acquisition of PQ Bypass, Inc. for an undisclosed amount. This strategic move is expected to solidify Endologix's leadership in the treatment of abdominal aortic aneurysms, enabling the championing of disruptive technologies for vascular disease treatment. PQ Bypass, also a US-based company, is involved in the manufacturing of medical devices, including stenting for the superficial femoral artery.
Major companies operating in the abdominal aortic aneurysm (aaa) repair devices market report are Cardiatis S.A, Cardinal Health Inc., Cook Medical LLC, Endologix Inc., Lombard Medical Inc., Medtronic plc, Terumo Corporation, W.L. Gore and Associates Inc., C. R. Bard, Jotec GmbH, Gore Medical, Abbott Laboratories, LivaNova plc, Boston Scientific Corporation, Koninklijke Philips N.V., MicroPort Scientific Corporation LLC, Lifetech Scientific (Shenzhen) Co. Ltd., Hangzhou Endonom Medtech Co. Ltd., Latecba SA, Nectero Medical, Beijing Jinyu Medical Device Co. Ltd., Beijing Endoncare Medical Devices Co. Ltd., Shanghai MicroPort Endovascular Medical Devices Co. Ltd., Lepu Medical Technology Co. Ltd., Beijing Advanced Cardiovascular Technologies Co. Ltd., CryoLife Inc., Baxter International Inc., Edwards Lifesciences Corporation, B. Braun Melsungen AG, Getinge AB
North America was the largest region in the abdominal aortic aneurysm (AAA) repair devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global abdominal aortic aneurysm (AAA) repair devices market report during the forecast period. The regions covered in the abdominal aortic aneurysm (aaa) repair devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the abdominal aortic aneurysm (aaa) repair devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The abdominal aortic aneurysm repair device market consists of sales of modular bifurcated stent-grafts, modular stent grafts, fenestrated stent grafts, and branched stent grafts. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.