USD 4.25 billion
Report ID: SQMIG35A2601 | Region: Global | Published Date: June, 2023 | Pages: 157 | Tables: 114 | Figures: 77
Aortic Aneurysm Market size was valued at USD 4.25 billion in 2021 and is poised to grow from USD 4.7 billion in 2022 to USD 10.4 billion by 2030, growing at a CAGR of 10.61% in the forecast period (2023-2030).
The market is mainly driven by the aging population's growth and atherosclerosis's prevalence. The expansion is also being aided by favorable health reimbursement regulations and a rise in the demand for minimally invasive procedures. The prevalence of AA is rising globally as a result of rising cardiovascular disease cases, the increasing adoption of sedentary habits, and bad dietary practices. The number of elderly people is growing, which expands the patient base. In the United States, this population group accounted for 54 million people, or over 16% of the country's total population, based on the U.S. Ministry of Health and Human Services. Additionally, it is anticipated that this number would increase to 80.8 million by 2040 and reach 94.7 million by 2060. Therefore, an increase in AA repair treatments is anticipated during the next five years due to the rapidly aging population. Aortic aneurysms are more likely to develop in people over 65 because the aorta's walls start to weaken at this age. The risk also rises as a result of other cardiovascular disorders.
Smoking dramatically raises the risk of aortic aneurysm development. Around 22.3% of people worldwide used tobacco in 2020, according to the WHO. Smoking was deemed by the United States Preventive Services Task Force to be a significant risk factor for AAA in males aged 65 to 75 who have ever smoked. In people with a AAA, continuing to smoke is linked to higher rates of enlargement and a higher likelihood of rupture. Patients who are having surgical AA repair are more likely to die during surgery and die later if they smoke.
In the most developed nations, including the United States, the United Kingdom, and Japan, minimally invasive surgical procedures like EVAR are gradually replacing conventionally performed surgical procedures. For operations on internal body components in traditional surgery, an incision is necessary. These operations call for high levels of precision, intense focus, and surgical competence. However, the benefits of minimally invasive operations include less blood loss, minimal to no scarring, smaller incisions, shorter hospital stays with quicker recovery times, and frequently better outcomes. Because of this, the market is expected to rise due to rising demand for minimally invasive EAVR procedures.
US Aortic Aneurysm Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 4.25 billion
Abdominal Aortic Aneurysm (AAA)
Abdominal Aortic Aneurysm (AAA)
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The global aortic aneurysm market is segmented on the basis of type, treatment, product, end-use, and region. Based on type, the market is segmented into Thoracic Aortic Aneurysm (TAA), and Abdominal Aortic Aneurysm (AAA). Based on treatment, the market is segmented into Open Surgical Repair (OSR), and Endovascular Aneurysm Repair (EVAR). Based on Product the market is segmented into Stent Grafts, and Catheters. Based on End-use the market is segmented into Hospitals, Ambulatory Surgery Centers, Clinics. Based on region the global Aortic Aneurysm Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Aortic Aneurysm Market Analysis by Type
The market for AA treatments was dominated by abdominal aortic aneurysms in 2022 with a market share of 70.9% and is expected to increase at the quickest rate of 10.75% over the next five years. The lower abdomen is where AAA is most frequently found, and the majority of instances are either under the kidney or in the pararenal region of the lower abdomen. In general, there are substantially more repairs for subrenal & pararenal aneurysms than TAA. Around 2.5% of persons over the age of 65 have AAA, according to a Circulation article.
The segment's expansion is being fueled by robust R&D as well as solid government backing for product approvals. For instance, the Zenith Fenestrated+ Endovascular Graft (ZFEN+) was given the U.S. FDA's breakthrough device designation by Cook Medical, Inc. Intravascular AA is treated.
The low prevalence of TAA and the lack of cutting-edge technologies for its endovascular management are responsible for the segment's gradual expansion. However, this market is expected to grow rapidly in the upcoming years because of the growing acceptability of minimally invasive methods on a global scale, as well as technical advancements that will result in shorter hospital stays and lower overall treatment costs.
Aortic Aneurysm Market Analysis by Product
The sector with the highest revenue share more than 85.0%—was stent grafts. During the forecast period, the segment is expected to have significant expansion as a result of technological developments in stent-graft design. For instance, sophisticated stent graft systems with built-in imaging and delivery catheters are now available. These tools can be applied in cases like aneurysms and severe vascular damage. The market is divided into stent grafts & catheters based on the product.
A new line of prostheses called Nellix & Ovation Stent Grafts uses polymer technology to repair abdominal aortic aneurysms. CT scans can be performed after surgery. The advantages of stent-graft vascular repair are still driving the segment's expansion. The Terumo Corporation launched PANTHER, a global study on knitted and weaved surgical grafts, in September 2021. Such research projects by important players should be advantageous for segment growth.
It is estimated that the catheters category can expand steadily over the course of the forecasted period. The stent transplant is inserted into an AA via a delivery catheter, which is a long, incredibly thin, soft plastic tube. Two catheters are used during the EVAR procedure. The first catheter is inserted into an artery in the leg near the groin. To position the stent, the delivery catheter is then inserted through the vessel and into the aneurysm. A delivery catheter with a compressed bridge graft is inserted through the conduit & into the aneurysm to place the stent. The delivery catheter is taken out once the surgeons have successfully inserted the stent transplant.
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North America held the largest revenue share of nearly 56.6% in 2022 as a result of the quick advancement of technology, the shift towards procedures that are minimally invasive, and the rising prevalence of AA. The test Stomach Aortic Aneurysms Very Efficiently (SAVE) Act, that has been put into action by the U.S. government in 2014, grants one free AAA test to men who have smoked at least once in their entire lives and women with a family record of the condition. Additionally, the governments' considerable financial assistance is encouraging growth in markets in general. For example, Medicare in the US will pay for one abdominal aorta ultrasound for patients that are at risk.
Asia Pacific is anticipated to grow at the fastest CAGR of 11.41% during the projected period because of the region's aging populace, high prevalence of cardiovascular diseases and hypertension, & rising disposable income. According to the Asian Development Bank (ADB), one in four Asians and Pacific Islanders will be older than 60 by 2050. Between the years 2010 and 2050, the number of senior people in the region will double, reaching over 1.3 billion. Due to the substantial aging of the population in the region, the market for Asia Pacific is growing.
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Aortic Aneurysm Market Drivers
Increasing Prevalence of Aortic Aneurysms
Aortic Aneurysm Market Restraints
Lack of Awareness and Underdiagnosis
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A majority of mid- and small-sized businesses dominate this somewhat fragmented industry. The majority of players use mergers and acquisitions as one of their primary methods to improve their position. As an illustration, Terumo Corporation purchased Aortica Corporation, a company based in the United States that is committed to furthering the science of individualized vascular therapy. When performing fenestrated intravascular aortic repair (FEVAR), Aortic a has created Aorta Fit, an automated case planning programme that precisely aligns the opening on the endograft to the particular position of each patient's branch artery.
Aortic Aneurysm Market Top Player’s Company Profiles
Aortic Aneurysm Market Recent Developments
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According to our aortic aneurysm market analysis, the aging population's growth and atherosclerosis prevalence are the key growth drivers. The expansion is also being aided by favorable health reimbursement regulations and a rise in the demand for minimally invasive procedures. The prevalence of AA is rising globally as a result of rising cardiovascular disease cases, the increasing adoption of sedentary habits, and bad dietary practices. The number of elderly people is growing, which expands the patient base.
|Market size value in 2021
|USD 4.25 billion
|Market size value in 2030
|USD 10.4 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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For the Global Aortic Aneurysm Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aortic Aneurysm Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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