Aortic Aneurysm Repair Market Expected to Reach $5.8 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Aortic Aneurysm Repair Market," The aortic aneurysm repair market size was valued at $3.2 billion in 2022, and is estimated to reach $5.8 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032.

An aortic aneurysm refers to an abnormal bulging or dilation of the walls of the aorta. It can occur in different sections of the aorta, such as the abdominal or thoracic region. Aortic aneurysm repair involves medical procedures aimed at treating and managing these abnormalities. Surgical repair typically involves replacing the weakened section of the aorta with a synthetic graft, while endovascular repair involves the insertion of a stent graft to reinforce the weakened area. 

The major aortic aneurysm repair market trends driving the growth of the market size includes increase in prevalence of aortic aneurysm, along with related factors such as an aging population and a significant increase in presence of smoking individuals. The aging population is more susceptible to aortic aneurysms due to the natural degeneration of blood vessels with age. For instance, according to an article published in Journal of Clinical Medicine, in 2023, 14,436 patients with an intact abdominal aortic aneurysm (AAA) with a mean age of 75.1 years.

In addition, smoking, a well-established risk factor, significantly increases the likelihood of developing an aortic aneurysm. For instance, according to the Center for Disease Control and Prevention (CDC) in 2021, a history of smoking accounts for about 75% of all abdominal aortic aneurysms. As these risk factors become more prevalent, the number of individuals diagnosed with aortic aneurysms continues to rise, creating a surge in demand for effective treatment options. which drives the growth of the aortic aneurysm repair market as healthcare providers strive to meet the needs of the increasing patient population. 

Furthermore, the surge in demand for minimally invasive surgical procedures for treatment is a significant factor that fuels the aortic aneurysm repair market size. This is attributed to the fact that traditional open-heart surgery for aortic aneurysms is a highly invasive procedure that requires prolonged recovery time and carries a significant risk of complications. In contrast, minimally invasive surgical procedures, such as endovascular aortic aneurysm repair (EVAR), and thoracic endovascular aortic repair (TEVAR) involve much smaller incisions and result in faster recovery with fewer complications. 

Thus, the demand for minimally invasive procedures is driven by several factors, including patient preference, improved safety & efficacy, and advancements in technology. Moreover, minimally invasive aneurysm repair treatment procedures allow shorter hospital stays and reduced healthcare costs, thus increasing their preference among healthcare providers and patients. As the demand for minimally invasive procedures continues to grow, the market for aortic aneurysm repair is expected to expand significantly. 

Moreover, government agencies play a crucial role in shaping healthcare policies and reimbursement systems. Recognizing the importance of aortic aneurysm repair procedures, many governments have taken initiatives to provide favorable reimbursement policies for these interventions. By offering financial support or insurance coverage, governments encourage healthcare providers and patients to opt for aortic aneurysm repair, thus driving the market growth. These reimbursement policies reduce the financial burden on patients and improve access to advanced treatment options.

In addition, collaboration between key manufacturers and insurance agencies has contributed to market expansion. Manufacturers of aortic aneurysm repair devices are increasingly partnering with insurance companies to streamline the reimbursement process and ensure coverage for their products. For instance, in October 2022, Terumo Aortic, announced that the U.S. Centers for Medicare and Medicaid Services (CMS) has granted approval of a New Technology Add-on Payment (NTAP) for Terumo Aortic’s Thoraflex Hybrid Device under the Inpatient Prospective Payment System (IPPS). The add-on payment is expected to allow hospitals to be reimbursed for the incremental costs relating to the implantation of the Thoraflex Hybrid Frozen Elephant Trunk (FET) device to support the treatment of patients. Thus, by working together, manufacturers and insurance agencies create a supportive ecosystem that promotes the adoption of their products and drives market growth during aortic aneurysm repair market analysis.

On the basis of product type, the market is categorized into aortic stent-grafts and hybrid stent-grafts. The aortic stent graft segment accounted for the largest share in 2022 is expected to remain dominant during the forecast period, owing to its increase in adoption for aortic aneurysm repair surgeries. Moreover, the ongoing advancements in stent graft technology and increasing adoption of endovascular techniques contribute to the segment growth. However, the Hybrid stent-grafts is projected to register highest CAGR during the forecast period owing to its potential advantages in treating complex aortic pathologies. Further, advancements in stent graft technology have enabled the development of hybrid stent-grafts with improved durability, flexibility, and ease of deployment.

Depending on procedure type, the market is classified into open surgery, endovascular aortic aneurysm repair and frozen elephant trunk (FET). The endovascular aortic aneurysm repair segment occupied highest aortic aneurysm repair market share in 2022 and is expected to remain dominant during the forecast period, owing to advantages such as minimally invasive procedures, shorter hospital stays, faster recovery, and reduced postoperative complications compared to open surgical repair. 

In addition, advancements in endovascular devices, improved patient outcomes, and increase in adoption of minimally invasive techniques by healthcare providers contribute to the growth of the endovascular aortic aneurysm repair segment during aortic aneurysm repair market forecast. However, the frozen elephant trunk (FET) is projected to register highest CAGR during the forecast period owing to advantages over traditional open surgical repair in terms of reduced invasiveness and postoperative complications. Furthermore, advancements in surgical techniques and the development of specialized devices have improved the effectiveness and safety of the FET procedure. 

Region wise, North America accounted for the largest aortic aneurysm repair market share of the aortic aneurysm repair market in terms of revenue in 2022, due to alarming increase in the incidence of coronary artery diseases (CADs), including aortic aneurysm, in the region. This is attributed to factors such as sedentary lifestyle, unhealthy eating habits, and rise in geriatric population. In addition, the surge in demand for aortic aneurysm repair devices and minimally invasive procedures drives the market growth. Furthermore, the availability of skilled professionals and advanced stent graft technologies has made it possible to perform more complex aneurysm repair procedures with higher success rates, leading to increased demand for these treatments in North America. 

On the other hand, Asia-Pacific is expected to witness the highest growth during the forecast period owing to surge in demand for minimally invasive procedures to address the unmet needs of a large population. In addition, the development of healthcare infrastructure, rise in healthcare reforms, and increase in healthcare expenditure in emerging economies are anticipated to contribute toward the growth of the aortic aneurysm repair market in Asia-Pacific. 
 
Key findings of the study 
• By product type, the aortic stent-grafts segment was the highest contributor to the aortic aneurysm repair industry in 2022. 
• By procedure type, the endovascular aortic aneurysm repair segment led the aortic aneurysm repair industry in terms of revenue in 2022.  
• Region wise, North America generated the highest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period