Factors, such as rise in the geriatric population, high prevalence of tobacco smoking, growing acceptance of minimally invasive endovascular surgeries, and favorable reimbursement conditions, are expected to drive the market growth during the forecast period.
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Global Aortic Aneurysm Market – Drivers, Opportunities, Trends, and Forecasts: 2017–2023” (July 2017).
According to Infoholic Research, an increase in the geriatric population will increase the demand for aortic aneurysm products as the condition mostly occurs in people who are over 50 years of age. The high prevalence of tobacco smoking, growing acceptance of minimally invasive endovascular surgeries and favorable reimbursement conditions are some of the factors driving the market. The market growth is also determined by environment factors, lifestyle of a person, and history of the disease in the family. However, stringent government regulations, risk associated with the procedure and lack of awareness are some of the factors hampering the market growth. According to Infoholic Research, the Global Aortic Aneurysm Market is expected to grow at a CAGR of 6.6% during the forecast period 2017–2023 to reach an aggregate of $3.5 billion by 2023.
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The Global Aortic Aneurysm Market is analyzed by three segments namely types, products, and regions. The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). In North America, the US and Canada are the leading countries. Europe is the second leading region with a market share of more than 25.40%, in 2015. The UK is one the countries in Europe with high prevalence of aortic aneurysm. In Asia Pacific, Japan is the second largest standalone country after the US and it holds immense business opportunities. RoW is set to be an emerging market during the next 5–6 years.
The Global Aortic Aneurysm Market is segmented into abdominal aortic aneurysm (AAA) and thoracic aortic aneurysm (TAA). AAA occupies the major share of the market with EVAR being the most adopted AAA procedure. TAA is the fastest growing segment in the market. This is due to technological advancements and the increasing awareness about the condition among the patients globally.
Recently, many products have been launched for the treatment of aneurysm at various neck angles. Despite many new product launches, there is a continuous demand for technology advancements. According to the American Heart Association, around 58% of EVAR procedures are being carried out using stent grafts outside the scope of their approved angulation range and this has resulted in aneurysm sac expansion.
“The aortic aneurysm market is dominated by Cook Medical, Medtronic PLC, and W.L. Gore and Associates, who have occupied around 85% of the market share. Other small players are adopting various strategies to increase their market share. Endologix acquired Trivascular to expand its product portfolio and to consolidate its position in the Global Aortic Aneurysm Market” – Rikitha K Murthy, Research Analyst (Research – Healthcare) at Infoholic Research
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Further, the report also aims to cover the below points:
- Provides an in-depth analysis of the key business opportunities in countries and verticals
- Provides complete details about the various types of aortic aneurysm
- Provides complete details about the analysis of top 10 players
- Provides industry outlook including current and future market trends, drivers, restraints, and emerging technologies
Ms. Sunanda Ganguli
Infoholic Research LLP