Aortic aneurysm is widening of the aorta (the largest artery in the human body) at a certain spot, which can potentially rupture the artery. The abdominal aorta is generally observed to have the maximum diameter of >3 cm. In most adult patients, there is a high risk of developing aneurysm primarily below the renal arteries. If not treated immediately, aortic aneurysm can lead to a life-threatening condition with massive internal bleeding. As the aorta carries blood from the heart and runs through the chest and the abdomen, aneurysms are possibly observed at these locations and termed as abdominal aortic aneurysms (AAA) and thoracic aortic aneurysms (TAA), respectively. There are two types of aneurisms viz. ruptured aneurism and symptomatic (non-ruptured) aneurism. Two methods employed to repair the abdominal aortic aneurism are open AAA repair and endovascular aneurysm repair (EVAR). Endovascular aneurysm repair (EVAR) is performed to correct the aneurysms in which the weak spot is sealed tightly with an endovascular stent graft. Devices used for repairing abdominal aortic aneurysm are known as abdominal aortic aneurysm repair devices or more commonly, endovascular stent grafts. Globally, physicians are preferring the endovascular repair of abdominal aortic aneurysm (AAA) over the open surgical repair, due to minimally invasive nature of the procedure and rapid recovery. Presently, more than 60% of AAA repairs performed are EVARs rather than the open surgery, which reflects the increasing adoption of endovascular stent graft systems.
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Growing adoption of technologically advanced products, rising research and development of vascular grafts, and increasing addiction of smoking are factors boosting the global abdominal aortic aneurism prostheses market. However, high cost of the surgery and complications associated with the treatment methods are some of the restraints for the market.
The global abdominal aortic aneurism prostheses market can be segmented based on type of treatment, type of product, end-user, and region. In terms of treatment type, the market can be categorized into open surgery and endovascular aneurysm repair (EVAR). Open surgery involves incision of the abdomen under general anesthesia. Once the abdomen is opened, the aneurism is repaired using a cylindrical tube known as graft. In contrast to open surgery, EVAR is a minimally invasive procedure which involves advancing a stent graft via femoral arteries of the groin. The EVAR segment is expected to expand at the maximum CAGR during the forecast period, owing to low cost of the procedure, reduced hospital stays and patient trauma, and high success rate offered by technologically advanced devices. In terms of product type, the global abdominal aortic aneurism prostheses market can be further classified based on type of material used and shape of graft. In terms of type of material, the market can be categorized into polyester grafts and ePTFE grafts. In terms of shape of graft, the market can be divided into straight grafts and bifurcated grafts. Based on end-user, the global abdominal aortic aneurism prostheses market can be categorized into hospitals, specialty clinics, and ambulatory surgical centers (ASCs). Currently, hospitals and specialty clinics segments dominate the global abdominal aortic aneurism prostheses market. However, the ASCs segment is expected to witness rapid growth during the forecast period, owing to increasing preference for day care surgeries.
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Geographically, the global abdominal aortic aneurism prostheses market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is likely to dominate the global abdominal aortic aneurism prostheses market during the forecast period. Rapid advancements in technology along with continuous efforts made by key players to develop novel products are driving the market in this region. Europe is the second-largest market for abdominal aortic aneurism prostheses, as a large number of players are headquartered in the region. Asia Pacific is projected to be an emerging market for abdominal aortic aneurism prostheses from 2017 to 2025. The developing health care infrastructure coupled with favorable government initiatives is augmenting the market in the region.
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Key players operating in global abdominal aortic aneurism prostheses market include Medtronic, Cook, B. Braun Melsungen AG, W. L. Gore & Associates., VASCUTEK Ltd., ENDOLOGIX, INC., Bolton Medical, Cardinal Health., JOTEC GmbH, and Lombard Medical, Inc.
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