Rising demand for minimally invasive procedures, increasing geriatric population, and increasing prevalence of abdominal aortic aneurysm are key factors fueling global market growth
The global abdominal aortic aneurysm patch devices market size is expected to reach USD 3.88 Billion in 2030 and register a CAGR of 7.2%, according to the latest report by Reports and Data. Technological advancements in surgical procedures, increasing prevalence of obese patients, and other conditions such as syphilis, atherosclerosis, and cystic necrosis, and rising public awareness are key factors boosting global market revenue growth.
An abdominal aortic aneurysm is a condition in which results in enlargement of lower part of aorta which generally affects the geriatric population and is majorly caused by prolonged consumption of alcohol, tobacco, and smoking. Factors such as increasing elderly population, favorable reimbursement schemes, availability of technologically developed abdominal aortic aneurysm patch devices and improvements in the healthcare systems and infrastructure are supporting global market growth. In addition, advancements in aneurysm patch procedures, increasing healthcare spending, and increasing investments to develop more enhanced abdominal aortic aneurysm patch devices are expected to boost market growth going ahead. However, factors such as high cost of minimally invasive surgeries, stringent regulations and restrictions on product launches, and dearth of favorable insurance policies in certain countries are expected to hamper overall growth of abdominal aortic aneurysm patch devices market throughout the forecast period.
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The report provides comprehensive assessment of the market covering key elements such as revenue estimations, cost analysis, import/export, production and consumption trends, CAGR, gross margin, and supply demand patterns. It also sheds light on recent technological developments, product advancements, and research and development activities in the region.
The report examines the key players operating in the market along with their market position, market share, revenue, gross margin, and business strategies. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. It also covers recent mergers and acquisitions, joint ventures, collaborations, agreements, partnerships, and product launches and brand promotions.
Key companies profiled in the report include:
Cook Medical Inc., Endologix, Inc., W. L. Gore Associates, Inc., AbbVie Inc., Medtronic Plc., Cardinal Health Inc., Cardiatis S.A., C. R. Bard, Inc., Lombard Medical, Inc., Terumo Corporation, WefernLife, Braile Biomdica, and MicroPort Scientific Corporation.
Market Segmentation by Types:
Product Type Outlook (Revenue, USD Billion; 2019–2030)
- Stents
- Catheters
- Balloon Pumps
- Wires
- Others
Anatomy Outlook (Revenue, USD Billion; 2019–2030)
- Traditional Anatomy
- Complex Anatomy
End-Use Outlook (Revenue, USD Billion; 2019–2030)
- Hospitals
- Clinics
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Regional analysis covers in-depth analysis of analysis of the revenue, market share, and growth rate of the global Abdominal Aortic Aneurysm Patch Devices market in each region for the forecast period of 2021-2028. The report covers production and consumption rate, current and emerging trends, import/export, supply and demand, and presence of key players in each region.
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
Some key highlights in the report:
- Among the products, the stents segment is expected to register rapid revenue growth throughout the forecast period owing to high usage of stents for treating an abdominal aortic aneurysm. The stent graft is a tube covered with thin polyester fabric that is opened inside the aorta and fastened in place that protects the aorta and stops the aneurysm from bursting.
- Based on product type, the endovascular aortic patch is expected to account for significant revenue share over the forecast period. Endovascular aortic patch is highly preferred over open surgery as it requires minimum invasion, less hospital stay, and quick recovery.
- Based on end use, the hospital segment is expected to account for largest revenue share between 2021 and 2028 owing to availability of latest abdominal aortic aneurysm patch devices, increasing number of surgical procedures, and high demand for minimally invasive methods.
- North America is expected to account for robust revue share over the forecast period owing to factors such as increasing adoption of abdominal aortic aneurysm patch devices, availability of technologically advanced devices, presence of well-established healthcare systems, rising geriatric population, and high public awareness about diagnosis and treatment for abdominal aortic aneurysm.
- The abdominal aortic aneurysm patch devices market in Asia Pacific is expected to register rapid revenue growth between 2021 and 2028. Rising disposable income, improvements in the healthcare facilities, increasing adoption of minimally invasive surgeries, and large geriatric patient pool are some of the key factors boosting market growth in Asia Pacific.
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