The market for aortic aneurysms is expected to increase at a compound annual growth rate (CAGR) of 10.61% from USD 4.7 billion in 2022 to USD 10.4 billion by 2030.
Key factors driving the aortic aneurysm market growth across the globe is the growing population of smokers’ as well as rising incidences of sedentary lifestyle diseases. Moreover, increasing population of elderly people, advancements in technology plus favorable policies for reimbursement process are some other factors fueling the market growth. On the other hand, there are some factors expected to restrain the growth of the market over the forecast spell including lack of responsiveness as well as associated risk about the diseases among the populace. For example, the high rates of deaths are registered because of endoleak, a major obstacle that happens when blood starts to leak into an aneurysm sac once the endovascular aneurysm repair (EVAR) procedure has been completed.
The aortic aneurysm market has been segmented by different type, product types and geography. Further, type segment of the market has been sub-segmented into AAA and TAA. AAA is the aortic aneurysm market leader acquiring highest share owing to its adoption in EVAR, while, TAA is the one of the fastest growing division of the segment in the market. TAA is expected to grow due to technological advancements as well as growing awareness of the condition among the patients across the globe. On the basis of products type, the global aortic aneurysm market has been bifurcated into catheters, stent grafts and other accessories. Stent grafts division of the segment dominated the market with highest aortic aneurysm market share in the historical year (2017), and is likely maintain its dominance over the forecast period.
Geographically, global aortic aneurysm market has been segmented to several key regions covering Europe, North America, Asia Pacific and Rest of the World (ROW). North America region is the aortic aneurysm market leader, trailed by Europe region. However, Asia Pacific as well as ROW is emerging markets. Furthermore, Japan is the second individual market after the United States rising with a double-digit CAGR.
The global market of aortic aneurysm is very much concentrated with three companies naming Cook Medical, Medtronic PLC as well as W.L. Gore and Associates acquiring the highest market share. On the other hand, companies with limited geographical existence are looking forward for different types of strategies for expanding their business. For example, MicroPort Scientific Corp. along with its subsidiary, Endovascular Technology Corp., took over Lombard Medical Limited and Lombard Medical Technologies GmbH in April 2018, in order to commercialize its two original stent graft technologies Aorfix & Altura.
Aortic Aneurysm Market Scope
|Revenue forecast in 2030
|USD 10.4 billion
|CAGR of 10.61% during 2020-2030
|by Type, Treatment, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Cook Medical Inc. (US), Endologix Inc (US), W. L. Gore & Associates, Inc. (US), AbbVie Inc. (US), Medtronic Plc. (US), Cardinal Health Inc. (US), Cardiatis S.A. (Belgium), C. R. Bard, Inc. (US), Lombard Medical, Inc (UK), and Terumo Corporation (Japan).
Key segments of the global aortic aneurysm market include:
- Type Segment
- Product types Segment
- Stent grafts
- Other accessories
- Geographical segmentation
- North America
- Asia Pacific
- Rest of the World (ROW)