Abdominal Aortic Aneurysm Repair Devices Market
Global abdominal aortic aneurysm repair devices market size was valued at $1,844 million in 2015, and is expected to reach $2,614 million by 2022, supported by a CAGR of 5.1% during the forecast period 2016 - 2022. The demand for abdominal aortic aneurysm repair devices is expected to increase in forthcoming years, due to the increase in geriatric population, rise in tobacco consumption, increase in adoption of EVAR procedures, rise in demand for minimally invasive treatment, and availability of favorable reimbursements.
Global Abdominal Aortic Aneurysm Repair Devices Market Segmentation
The report analyzes the global abdominal aortic aneurysm repair devices market based on product type, site, anatomy, and geography. In terms of product type, the market is divided into synthetic graft system and endovascular stent graft system. Based on site of abdominal aortic aneurysm, the market is bifurcated into infrarenal AAA and pararenal AAA. The pararenal AAA is further segmented into juxtarenal AAA and suprarenal AAA. On the basis of anatomy, the market is categorized into traditional anatomy and complex anatomy. Geographically, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, Thailand, and rest of Asia-Pacific), and LAMEA (Brazil, Turkey, Saudi Arabia, Republic of South Africa, and rest of LAMEA).
Drivers, Restraints, and Opportunities
The impact of the driving factors is expected to overshadow that of the restraints. Moreover, technological advancements, favorable reimbursements and untapped market opportunities are expected to provide new prospects to abdominal aortic aneurysm repair devices market in the near future.
Drivers and Restraints Of The Abdominal Aortic Aneurysm Repair Devices Market
Key Driver: Growing Geriatric Population
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 2015, 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 abdominal aortic aneurysm repair devices market growth.
Prevalence of Abdominal Aortic Aneurysm With Age, 2011
The key players profiled in the global abdominal aortic aneurysm repair devices market 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., and Terumo Corporation. Other prominent players in the value chain include WefernLife, Braile Biomdica, and MicroPort Scientific Corporation.
Global Abdominal Aortic Aneurysm Repair Devices Market ($Million), 2014-2022
The North American abdominal aortic aneurysm repair devices industry accounted for the highest share, and is projected to continue to dominate the global abdominal aortic aneurysm repair devices market size in the forecast period. This is attributed to rise in geriatric population, high adoption rate of technologically advanced abdominal aortic aneurysm repair devices, and increased patient awareness about the availability of screening programs for the diagnosis of the disease. Europe holds the second position in the abdominal aortic aneurysm repair devices market share. Asia-Pacific is expected to witness highest growth rate, owing to growth in population, increase in affordability, and improvement in healthcare facilities.
- The study provides an in-depth analysis of the market along with current trends and future estimations to elucidate the imminent investment pockets.
- It provides a quantitative analysis from 2014 to 2022 to enable stakeholders to capitalize on the prevailing opportunities in the abdominal aortic aneurysm repair devices industry.
- Extensive analysis of the market based on products helps understand the type of devices used to treat abdominal aortic aneurysm.
- Competitive intelligence highlights the business practices followed by leading players across various regions.
- Extensive analysis of the market is conducted by following key product positioning and monitoring the top contenders within the market framework.
Abdominal Aortic Aneurysm Repair Devices Market Key Segments
By Product Type
- Synthetic Graft System
- Endovascular Stent Graft System
- Traditional Anatomy
- Complex Anatomy
- Infrarenal AAA
- Pararenal AAA
- Juxtarenal AAA
- Suprarenal AAA
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- Republic of South Africa
- Rest of LAMEA