USD 2.55 billion
Report ID:
SQMIG35B2078 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|Tables:
61
|Figures:
77
Global Aortic Stent Grafts Market was valued at USD 2.55 billion in 2022 and is expected to rise from USD 2.65 billion in 2023 to reach USD 3.63 billion by the end of 2031, by rising at a CAGR of 4% during the forecast period, (2024-2031).
An aortic stent is a metal skeleton enclosed in a fabric graft. In order to stop the aneurysm's blood supply from continuing, the graft usually works by applying pressure to the sections of the artery above and below the aneurysm. The stent is inserted into the aorta and forms a secure passageway for blood, thus, allowing the aneurysm to contract.
One of the key reasons influencing the growth of the global aortic stent graft market is the rising prevalence of aortic aneurysm among patients worldwide. The increase in demand for repairing thoracic and abdominal aneurysm is a result of the rise in cardiovascular diseases (CVDs), and the longer average life expectancy of people. The market is also driven by customers choosing endovascular repair over open surgical repair and by the rising preference for minimally invasive surgeries because of their reduced discomfort and quick recovery times. Additionally, the market for aortic stent grafts benefits from urbanization, increase in R&D activities, improved healthcare infrastructure, and unhealthy lifestyles of people. Additionally, the rise in investments on research and development and clinical trials on improving aortic stent graft designs are likely to create lucrative growth opportunities for market participants during the projected period.
On the other hand, the lack of awareness about new EVAR treatment as well as the danger of endoleaks and other problems associated with the use of aortic stent grafts may pose hindrance to the overall market expansion. The market for aortic stent grafts may also face certain challenges due to a shortage of skilled medical personnel in underdeveloped regions.
US Aortic Stent Grafts Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2.55 billion
Largest Segment
Abdominal Aortic Stent Graft
Fastest Growth
Abdominal Aortic Stent Graft
Growth Rate
4% CAGR
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Aortic Stent Grafts Market is segmented based on the product type, end user, and region. In terms of product type, the Aortic Stent Grafts Market is segmented into abdominal aortic stent graft, and thoracic aortic stent graft. Based on end user, the Aortic Stent Grafts Market is categorized into hospitals, and ambulatory surgical centers/outpatient surgical centers. As per classification by region, the Aortic Stent Grafts Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Aortic Stent Grafts Market Analysis by Product:
The abdominal aortic stent graft segment is predicted to hold the dominant share in 2022. An increase in the number of patients with abdominal aortic aneurysms, hypertension, unhealthy lifestyles, and heavy smoking habits are considered the key causes boosting the rising sales of aortic stent grafts. The most frequent type of aneurysm in men of age 65 and older is the abdominal aortic aneurysm (AAA). It happens at the area of the abdominal aorta where it crosses. Serious repercussions, including death, might result from improper or delayed treatment. As a result, several endovascular repair procedures are carried out each year. Abdominal aortic stent graft sales are being boosted by patients' choice for less invasive treatments over open surgeries for AAA, and this trend is anticipated to persist in the future, thereby attracting significant revenues for this segment in the coming years.
Aortic Stent Grafts Market Analysis by End User:
The hospitals segment, which accounts for the biggest revenue share over the projected period, is likely to continue dominating the aortic stents grafts market in the forecast period. This is being driven by a number of factors, such as the increase in hospitals around the world and government investments in improving healthcare facilities. In poor nations, people often frequently choose hospital treatment due to a lack of reimbursement regulations and little disposable cash. Thus, hospitals seem to be the most convenient option for most people in the low and middle-income category for healthcare assistance, thereby augmenting the growth of this segment in the coming years.
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The market for aortic aneurysm stent grafts is anticipated to be dominated by North America. This is attributable to the rising aortic aneurysm cases, technological improvements, and robust financial incentives in the United States and Canada. Additionally, the increasing use of aortic aneurysm stent grafts in the nation will increase demand for therapies that incorporate them, thus, fostering a favourable environment for the expansion of the North American aortic aneurysm stent graft market.
The Asia Pacific market is projected to emerge as the fastest growing market for aortic stent grafts during the projected period. The geriatric population is growing quickly, making them more susceptible to chronic diseases. Additionally, government policies are favourable, healthcare spending is expanding, and medical infrastructure is being modernised, mostly in developing countries like India, China, and Japan.
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Aortic Stent Grafts Market Drivers:
The Rising life expectancy rate is projected to serve as key growth driver
Increasing number of aortic aneurysm cases
Aortic Stent Grafts Market Restraint:
Lack of trained healthcare providers
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The competitive landscape for the global aortic stent grafts market is fragmented owing to the presence of multiple vendors. Most players are making heavy investments on R&D, and new market initiatives to gain a competitive edge and attract high revenues. Other vendors are focusing on increasing their global presence, production sites and facilities, production capacities, company strengths and weaknesses, and on new product launches to ensure their brand name stays amongst the top competitors.
Aortic Stent Grafts Market Top Player's Company Profiles
Aortic Stent Grafts Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
The aortic stent grafts market insight report offers information on the current and projected market, upcoming device innovation, individual leading companies' market shares, challenges, and market drivers, barriers, and trends for aortic aneurysm stent grafts. It also lists key manufacturers in the market.
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Report Metric | Details |
---|---|
Market size value in 2022 | USD 2.55 billion |
Market size value in the | USD 3.63 billion |
Growth Rate | 4% |
Base year | 2023 |
Forecast period | , (2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | 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) |
Companies covered |
Aortic Stent Grafts Market Recent Developments
|
Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Aortic Stent Grafts 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 Aortic Stent Grafts 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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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Aortic Stent Grafts Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Aortic Stent Grafts Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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Report ID: SQMIG35B2078