Aortic Aneurysm Market Research Report: Information by Type (Abdominal Aortic Aneurysm, Thoracic Aortic Aneurysm), Product (Stent Grafts, Catheters), Treatment (Endovascular Aneurysm Repair, Open Surgical Repair), End User Forecast till 2027
Aortic Aneurysm Market Overview
The aortic aneurysm market was valued at a market figure worth 2,357.6 million in 2017. However, the industry leaders and market players predict that the market is expected to grow at a CAGR of 8.4% during the forecast period ends in 2023. There is a great need for the wide-scale availability of reimbursement related to medical treatment and devices which is one of the most considerable factors for the aortic aneurysm market growth during the forecast period.
Aortic Aneurysm Market Overview:
The worldwide aortic aneurysm market generated a value of USD 2,357.6 million in 2017 and is likely to grow at a CAGR of 8.4% over the forecast period. Aortic aneurysm is a condition in which the aorta is dilated up to 1.5 times of normal size. This causes rupture of the artery resulting in internal bleeding. Aortic aneurysm can be of two types, thoracic aortic aneurysm (TAA) and abdominal aortic aneurysm (AAA). Thoracic aortic aneurysm occurs mainly in the thorax and abdominal aortic aneurysm occurs mainly in the part of the aorta that passes through the abdomen. Increased tobacco smoking all over the world has triggered the market for aortic aneurysm.
Additionally, the increasing geriatric population coupled with the growing incidents of cardiovascular diseases drive the market for aortic aneurysm. Besides, favorable reimbursement policies for surgical treatments and increased technological advancements play substantial roles in boosting the aortic aneurysm market. However, the prevalence of low reimbursement rates in the developing nations, expensive treatments, and devices are expected to obstruct the market growth over the next five years.
Key Players:
The global aortic aneurysm market is dominated by key players such as Cook Medical, Medtronic plc, Microport Scientific Corporation, MAQUET Holding B.V. & Co. KG, W. L. Gore & Associates, Endologix, Inc., JO0TEC AG (CryoLife, Inc.), Cardinal Health, Inc., Lombard Medical Limited, and Terumo Medical Corporation.
Regional Analysis:
The worldwide aortic aneurysm market has been segmented into Europe, Asia-Pacific, the Americas, and the Middle East & Africa. The Americas dominate the global aortic aneurysm market owing to the availability of modern medical and healthcare facilities. Furthermore, presence of key market players, launch of innovative devices, coupled with increased healthcare expenditures drive the aortic aneurysm markets in the US and Canada. Of late, abdominal aortic aneurysm (AAA) is getting widely treated with the help of less invasive procedures such as Endovascular aneurysm repair (EVAR). The introduction of EVAR can be considered as a potential factor for driving the aortic aneurysm market in the Americas. Europe represents the second largest aortic aneurysm market globally.
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