Global Endovascular Aneurysm Repair Market
Global endovascular aneurysm repair market report provide a comprehensive outlook on endovascular aneurysm repair worldwide with specific focus on key region such as North America, Europe, Asia Pacific, Latin America and MEA. The report on global endovascular aneurysm repair market gives historical, current and future market size (US$ Mn) on the basis of indication, site, anatomy, product, and geography. This study analyses the global endovascular aneurysm repair market dynamics in a detailed manner to identify current trends and drivers, growth opportunities and potential challenges to the key stakeholders in the operating market. In addition, PBI has analyzed the global market to better equip customers with possible investment opportunities across region and consumer unmet needs.
Global Endovascular Aneurysm Repair Market:
Global endovascular aneurysm repair market is valued at US$ 2,443.3 million in 2019, and is expected to grow US$ 3,759 million by 2026 growing at a CAGR of 6.2%. Increase in aortic aneurysm events, growth in the geriatric population, technological advances in the field of EVAR, the availability of favorable reimbursements for EVAR procedures and products, and an increase in the smoking population are factors driving market growth. Market development, however, is limited by the escalation of costs associated with EVAR treatment procedures and the lack of knowledge among individuals.
Growing demand of endovascular stent grafts boost the market growth:
The market growth in recent years has been fuelled by the high popularity of the FEVAR procedure, the advent of the EVAS procedure, the high preference for MI aneurysm repair and the growth in mergers and acquisitions by key market players. The promotion of novel grafts such as fenestrated aortic stent grafts has further broadened the aortic aneurysm treatment options, thus increasing the demand for aortic stent grafts. As a result, business growth in the coming years is set to be driven by this.
North America dominates the market share during the forecast period:
The global EVAR market in the North America is powered by an increase in the mortality rate due to abdominal aortic aneurysm (AAA). For example, there are around 19,000 deaths per year in the United States, of which half are due to AAA. For example, according to Endologix Inc., about 63,000 EVAR procedures were performed in the U.S. in 2013. In addition, the U.S. endograft industry is rising at a CAGR of 8% per year. From 2020 to 2026, the U.S. market is projected to display the highest CAGR of 5.9%.
Key players profile in global endovascular aneurysm repair market include-
- Medtronic plc
- Cook Medical
- Gore Medical
- Braun Melsungen AG
- Terumo Corporation
- Boston Scientific Corporation
- Abbott Laboratories
- Volcano Corporation
- Johnson & Johnson Co.
- Jude Medical Inc.
- In March 2020, Abbott announced that it would optimize TAVI implants with European approval of Flexnav delivery system for the company’s portico valve. The minimally invasive Portico procedure allows doctors to treat severe aortic valve stenosis without invasive surgery.
- In February 2019, Cook Medical received U.S. FDA approval for Aortic Dissection Device. The system, consisting of a proximal stent-graft component and a distal bare stent component, provides physicians a less invasive alternative to open surgery for repair of Type B dissections of the descending thoracic aorta.
- In September 2017, Endologix announced CE Mark approval for the Nellix EndoVascular Aneurysm Sealing System with the refined indications for use.
Key findings of report:
- Global endovascular aneurysm repair market expanding at significant CAGR over 2020 to 2026 owing to increase in aortic aneurysm events, growth in the geriatric population, technological advances in the field of EVAR.
- North America accounted for larger share of market revenue based on the region and projected a gain in market revenue over a forecast period.
- Players focusing on innovation of technologies and collaboration strategies to retain market position in global market.
Key features of the report:
- The report provides granular level information about market size, regional market share, historic market (2015-2019) and forecast (2020-2026).
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market.
- The report provides plethora of information about market entry strategies.
- Abdominal Aortic Aneurysm (AAA)
- Thoracic Aortic Aneurysm (TAA)
- Percutaneous EVAR
- Fenestrated EVAR
- Aortic Stents & TAA grafts
- Rest of Europe
- Southeast Asia
- Rest of APAC
- Rest of SA
- Saudi Arabia
- South Africa
- Rest of MEA