According to QY Research Medical, the endovascular aneurysm repair market size is projected to surpass US$ 4,359.20 million by 2030 and growing at a registered CAGR of 5 % from 2021 to 2030.
According to QY Research Medical, the endovascular aneurysm repair market size is projected to surpass US$ 4,359.20 million by 2030 and growing at a registered CAGR of 5 % from 2021 to 2030.
Endovascular aneurysm repair (EVAR) is a preferred treatment option for aortic aneurysm given its advantages over open surgery. These advantages include shorter hospital stay, quick recovery time, improved patient outcomes, and no abdominal surgery. Hence, this EVAR procedure is known as standard intervention for abdominal aortic aneurysm (AAA). In this procedure, a stent is placed in an aneurysmal area of the aorta to provide permanent alternative channel for blood flow within the patient’s vasculature, thereby preventing the aneurysmal sac from blood flow pressure and rupturing.
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Although EVAR has significantly reduced the operative risks and recovery time as compared to conventional open surgery, but further improvisations in the EVAR can be easily accomplished. This is because there have been cases of endoleaks post-EVAR procedure. However, to meet such challenges, the market players have developed the next generation and advanced technologies. For instance, Endologix Inc. recently gained FDA approval for its percutaneous endograft delivery system and possesses a game challenging, new-generation Nellix technology, a first and only endovascular sealing product useful in mitigation of all types of endoleak. Moreover, the scope of improvement in the technology acts as an opportunity for the endovascular aneurysm repair market. The endovascular aneurysm repair market forecast was $4,359.2 million by 2030.
The factors that drive the endovascular aneurysm repair market growth are the rise in the incidence of aortic aneurysm, growth in the geriatric population, technological advancements in EVAR, availability of favorable reimbursements for EVAR procedures & devices, and increase in the smoking population. However, this growth is restricted by the inflated cost associated with endovascular aneurysm repair treatment procedures and a lack of awareness among people. In addition, various risks are associated with this procedure such as iliac perforation, aneurysmal rupture, stent stenosis, endoleaks, and end tension. Several technologies have been developed and introduced to meet such challenges, leading to market growth. Moreover, endovascular aneurysm repair market opportunity are technological advancements in the endovascular aneurysm repair market players.
Scope of the Report
|
Report Coverage |
Details |
|
Market Size in 2020 |
$2,646.60 Million |
|
Revenue Forecast by 2030 |
$4,359.20 Million |
|
CAGR |
5% from 2021 to 2030 |
|
Base Year |
2021 |
|
Forecast Data |
2022 to 2030 |
The endovascular aneurysm repair market is segmented on the basis of indication, product, site, anatomy, and region. Depending on indication, it is bifurcated into abdominal aortic aneurysm (AAA) and thoracic aortic aneurysm (TAA). The TAA segment is classified into ascending, descending, thoracoabdominal, and thoracic arch aortic aneurysm.
According to site, it is categorized as infrarenal and pararenal. The pararenal segment is segmented into juxtarenal and suprarenal. As per anatomy, it is classified into traditional and complex. By product, it is classified into percutaneous EVAR, fenestrated EVAR, aortic stents & TAA graft and others. The percutaneous EVAR segment registered the highest revenue in 2020.
According to site, it is categorized as infrarenal and pararenal. The pararenal segment is segmented into juxtarenal and suprarenal. As per anatomy, it is classified into traditional and complex. By product, it is classified into percutaneous EVAR, fenestrated EVAR, aortic stents & TAA graft and others. The percutaneous EVAR segment registered the highest revenue in 2020.
Region wise, the endovascular aneurysm repair market analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest endovascular aneurysm repair market share in 2020, and is expected to maintain its dominance throughout the forecast period, owing to increase in number of EVAR procedures in the U.S. Furthermore, the market in the U.S. is growing at a CAGR of 8% per year. However, Asia-Pacific is expected to emerge as a lucrative area with maximum growth potential, owing to improvement in healthcare facilities, available disposable income, and rapid development in the economic conditions.
The key players in the global EVAR market include Medtronic plc., Cook Medical Inc., Endologix, Inc., Lombard Medical, Inc., W. L. Gore & Associates, Inc., Cardinal Health Inc., Becton Dickison and Company, Terumo Corporation, Abbott Laboratories, and Konninklijke Philips N.V.
Major players adopt product launch and acquisition as key developmental strategies to improve the product portfolio. For instance, in December 2021, Terumo announced the launch of the first commercial case of the aortic balloon in the U.S. This device assists physicians in the expansion of aorta, using TREO and RELAY stent-grafts in endovascular aortic repair. This will improve the product portfolio of the company.
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Key Benefits For Stakeholders
- The endovascular aneurysm repair industry report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the endovascular aneurysm repair market analysis from 2020 to 2030 to identify the prevailing endovascular aneurysm repair market opportunities.
- The endovascular aneurysm repair market size research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the endovascular aneurysm repair market segmentation assists to determine the prevailing market opportunities.
- The endovascular aneurysm repair market size from 2020 to 2030 with a market drivers, and restraints.
- Major countries in each region are mapped according to their revenue contribution to the global endovascular aneurysm repair industry.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global endovascular aneurysm repair market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
- By Indication
- Abdominal Aortic Aneurysm (Aaa)
- Thoratic Aortic Aneurysm (Taa)
- By Site
- Infrarenal
- Pararenal
- By Anatomy
- Traditional
- Complex
- By Product
- Percutaneous Evar
- Fenestrated Evar
- Aortic Stents &Taa Graft
- Others
- By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- North America
Key Market Players
- Abbott Laboratories
- Becton, Dickinson and Company
- Cardinal Health Inc
- cook medical
- EndologixInc
- Lombard Medical Inc
- Medtronic Plc
- Koninklijke Philips N.V.
- Terumo Medical Corporation
- W. L. Gore & Associates Inc
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