Abdominal Aortic Aneurysm (AAA) Repair Devices Market Expected to Reach $4.0 Billion by 2030

According to a new report published by Allied Market Research, titled, “Abdominal Aortic Aneurysm (AAA) Repair Devices Market," The abdominal aortic aneurysm repair devices market size was valued at $2,224.60 million in 2020, and is estimated to reach $4.0 Billion by 2030, growing at a CAGR of 6.1% from 2021 to 2030. 

Abdominal aortic aneurysm (AAA) is a disorder that primarily affects the above 65 years age group. The abdominal aortic aneurysm repair devices market significantly rises owning to technical breakthroughs in aneurysm repair treatments. Endovascular stent grafting is used to treat abdominal aortic aneurysms, which is most preferable than an open surgery.

Increase in elderly community (65 years age and above) fuel the growth of the market. Further, increase in consumption of tobacco and smoking propel the AAA repair devices market growth forward. The market is expected to develop owning to technical advancements in repair medical equipment and methods, increase in the adoption of EVAR treatments, rise in demand for minimally invasive therapy, and the availability of advantageous reimbursements. However, high treatment costs, shortage of solutions to address difficult anatomy, such as aneurysms with neck sizes less than 10 mm, and lack of awareness in emerging nations limit the abdominal aortic aneurysm repair devices industry expansion.

Moreover, key players are focusing on latest solution for challenging anatomies and AAA treatments. For instance, in September 2020, Lombard Medical, a medical device manufacturing company introduced ultra-low Minus abdominal aortic aneurysms stent graft and low-profile Hercules thoracic aortic aneurysm stent graph in Europe. Such initiatives from key player provide significant abdominal aortic aneurysm repair devices market growth.

The North American AAA repair devices market accounted for the major share due to high adoption of advanced treatment procedures such as EVAR. Moreover, numerous market players have launched technically advanced devices to gain a strong foothold in the market. For instance, Endologix, Inc. received FDA approval for AFX2 Bifurcated Endograft System, which facilitates percutaneous EVAR by providing the low-profile contralateral access through a 7-F introducer, thus reducing the steps to deliver or deploy the bifurcated endograft. Increased product development and innovation is expected to fuel the demand for endovascular treatment options.

Rise in mortality rate due to AAA is the major factor that drives the growth of the global abdominal aneurysm repair device market in Europe. For instance, about 19,000 death each year occur in UK, among which half of them are due to AAA. Moreover, as per a study published in European Journal of Vascular and Endovascular Surgery, around 1,251 deaths were reported in Germany due to AAA. Seeking the rise in mortality rate, countries in the region have adopted screening programs and EVAR treatment procedure options to reduce the incidence rates, which have resulted in reduced aneurysm-related deaths in hospitals.

Germany was among the first country to use EAVR procedure for treatment of AAA. Moreover, favorable reimbursement for EVAR procedures makes it a suitable market for AAA. In addition, the UK has adopted screening program of National Health Service (NHS) for early detection of abdominal aneurysm, which has helped in quick diagnosis of the disease, thereby leading to rise in demand for AAA treatment options. Italy and Spain are also the potential markets for AAA repair procedures.

However, during the COVID-19 pandemic lockdown, various manufacturers in the abdominal aortic aneurysm (AAA) repair devices market shut down their business in countries such as China, the U.S., and India. This break directly impacted sales of abdominal aortic aneurysm (AAA) repair devices. In addition, lack of manpower and raw materials also constricted supply of  abdominal aortic aneurysm (AAA) repair devices, which negatively influenced the abdominal aortic aneurysm repair market growth. However, reopening of production facilities and introduction of vaccines for COVID-19 are anticipated to lead to re-opening of abdominal aortic aneurysm (AAA) repair devices companies.

Technological advancement marks a significant trend in the AAA repair devices market, owing to high adoption of screening programs and AAA treatment options. Countries in the region develop novel treatment and diagnosis procedures. In addition, increase in incidences of death, rise in awareness among patients about the availability of new AAA repair procedures, and advanced healthcare infrastructure are expected to fuel the abdominal aortic aneurysm repair devices market growth.

Key Findings Of The Study

• The report provides an extensive analysis of the current and emerging abdominal aortic aneurysm repair devices market trends and dynamics. 
• Depending on product type, the endovascular stent graft system segment dominated the abdominal aortic aneurysm repair devices market, in terms of revenue in 2020 and is projected to grow at a significant CAGR during the forecast period.
• By site, the infrarenal AAA segment registered highest revenue in 2020.
• By anatomy, the traditional anatomy segment registered the highest revenue in 2020.
• Asia-Pacific is projected to register highest growth rate in the coming years.
• The key players within the abdominal aortic aneurysm repair devices market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the abdominal aortic aneurysm repair devices industry.
• The report provides an extensive analysis of the abdominal aortic aneurysm repair devices market growth and emerging opportunities of the market. 
• In-depth abdominal aortic aneurysm repair devices market analysis is conducted by constructing estimations for the key segments between 2021 and 2030. 
• The global abdominal aortic aneurysm repair devices market share analysis from 2020 to 2030 is included in the report.