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| ✷ Report Code: A01620 | Mar 2022 | Pages: 255 | ||
| Tables: 131 | Charts: 52 |
| |
The global abdominal aortic aneurysm (aaa) repair devices market size was valued at $2,224.60 million in 2020, and is projected to reach $4,002.50 million by 2030, growing at a CAGR of 6.1% from 2021 to 2030. An abnormal expansion is an enlargement of the abdominal aorta, most often the infrarenal and aorto-iliac arteries, known as an abdominal aortic aneurysm (AAA). AAA can be life threatening if it bursts. It is most common in people who smoke. Aneurysms which are large or grows quickly should be cured with surgery.
The COVID 19 outbreak has affected the growth of the abdominal aortic aneurysm repair devices industry owing to the lockdown measure in the countries and delay in production and manufacturing of abdominal aortic aneurysm repair devices which are utilized in healthcare sector.
The abdominal aortic aneurysm repair devices demands are projected to rise in the coming years owning to increase in the geriatric population, increase in tobacco consumption, and increase in adoption of EVAR procedures. Furthermore, increase in demand for minimally invasive treatment and the availability of favorable reimbursements fuel the market expansion. Moreover, in 2019, according to statistics published by the Centers for Disease Control and Prevention (CDC), AAA is most commonly seen in the elderly population of age 65 years and above. The occurrence of AAAs is predicted to rise as the global population ages. Thus, such factors propel the abdominal aortic aneurysm repair devices market growth.
Furthermore, key players are launching products for endovascular treatment of patents with abdominal aortic aneurysms symptoms. For instance, in March 2021, Cook Medical, Inc. introduced Zenith Fenestrated+ Endovascular Graft product. The ZFEN+ is used in the treatment of endovascular with aortic aneurysms. Such products provide positive impact on the abdominal aortic aneurysm repair devices market growth.
Advancements in AAA repair devices market is a result of growth in incidences of AAA worldwide. Moreover, upgraded treatments to improve quality of life and increased life expectancy have propelled the demand for technologically advanced repair devices such as endovascular stents graft system. This technological breakthrough has brought a shift from traditional surgical repair to advanced EVAR procedures. Moreover, the unpenetrated market opportunities related to complex anatomy aneurysms have led to the development of advanced AAA repair devices. These advanced devices reduce surgical complexities, which is expected to will further drive the market growth. According to data provided by Centers for Disease Control and Prevention (CDC), AAA is majorly observed in ageing population (65 years and above). Moreover, as per the Oxford Vascular study conducted in 2019, 1,75, 000 deaths are reported due to AAA, among which 1% of death is witnessed in men over 65 years of age. With growing geriatric population, the cases of AAAs are expected to increase, thus driving the market growth.
The novel coronavirus (COVID-19) rapidly spread across various countries and regions in 2019, causing an enormous impact on the lives of people and the global community. It began as a human health condition and has now become a significant threat to global trade, economy, and finance. The COVID-19 pandemic halted production of many products in the abdominal aortic aneurysm (AAA) repair devices market, owing to lockdowns. Furthermore, the number of COVID-19 cases are expected to reduce in the future as the vaccine for COVID-19 is introduced in the market. This has led to the reopening of abdominal aortic aneurysm (AAA) repair devices companies at their full-scale capacities. This is expected to help the market recover by the start of 2022. After COVID-19 infection cases begin to decline, equipment & machinery producers must focus on protecting their staff, operations, and supply networks to respond to urgent emergencies and establish new methods of working.
The market is segmented on the basis of product type, anatomy, site, and geography. In terms of product type, the market is divided into endovascular stent graft system and synthetic graft system. On the basis of anatomy, the market is categorized into traditional anatomy and complex anatomy. On the basis of site, the market is bifurcated into infrarenal AAA and pararenal AAA. Region-wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).Â
The growth of the North America AAA repair devices market is driven by rise in geriatric population (above 65 years of age), as they are at high risk to develop AAA. Moreover, development of advanced EVAR products and high prevalence of smoking are expected to boost the market growth.
Competition Anaylsis
The key players operating in the global abdominal aortic aneurysm (AAA) repair devices are Cardiatis S.A., Cardinal Health, Inc., Cook Medical, Inc., Endologix LLC, JOTEC GmbH, Lombard Medical, Inc., Medtronic plc, Inside Medical, W. L. Gore & Associates, Inc., and MicroPort Scientific Corporation.
Key Benefits for stackholders
Abdominal Aortic Aneurysm (AAA) Repair Devices Market Report Highlights
| Aspects | Details |
|---|---|
| By Product Type |
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| By Anatomy |
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| By Site |
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| By Region |
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| Key Market Players | jotec gmbh, LOMBARD MEDICAL, INC., CARDIATIS S.A., nano endoluminal sa, COOK MEDICAL, INC., W. L. GORE & ASSOCIATES, INC., CARDINAL HEALTH, INC., MEDTRONIC PLC, TERUMO CORPORATION, ENDOLOGIX, INC. |
The abdominal aortic aneurysm repair devices market is likely to develop significantly with the rise in prevalence of AAA and the need for less invasive methods. Furthermore, the abdominal aortic aneurysm repair device market has a high development potential and provides attractive opportunities owning to rise in need for appropriate endovascular treatment. In addition, improved treatment options with high success rate and technology improvements, are important factors that drive the global abdominal aortic aneurysm repair devices market growth. The market expansion is expected to be hampered by the high cost of treatment and a lack of awareness in markets. Moreover, the market for abdominal aortic aneurysm repair devices is expected to rise as a result of a shift away from traditional surgical techniques to advance EVAR.
Various key players are implementing strategic moves, such as acquisition and business expansion to strengthen their market position and expand the product portfolio. For instance, in April 2021, Endologix LLC acquired PQ Bypass, which is a medical technology company that develops a first-of-its-kind technology, which solves the unmet need for innovative therapies for severe abdominal aortic aneurysm (AAA) peripheral artery disease.
A. The Abdominal Aortic Aneurysm (AAA) repair devices market size was valued at $2,224.6 million in 2020.
A. The Abdominal Aortic Aneurysm (AAA) repair devices market is projected to reach $4,002.5 million by 2030.
A. Based on product type, the endovascular stent graft system holds the maximum market share of the Abdominal Aortic Aneurysm (AAA) repair devices market in 2020.
A. The product launch is key growth strategy of Abdominal Aortic Aneurysm (AAA) repair devices industry players.
A. The company profile has been selected on factors such as geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
A. High cost and risk associated with the procedure and lack of awareness in developing region are the effecting factors for Abdominal Aortic Aneurysm (AAA) repair devices market.
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