According to the latest report published by Credence Research, Inc. “Aortic Stent Grafts Market– Growth, Future Prospects and Competitive Analysis, 2018-2026,” the Aortic Stent Grafts market was valued at USD 1,605.3 Mn in 2017, and is expected to reach USD 3,293.4 Mn by 2026, expanding at a CAGR of 8.1% from 2018 to 2026.
Endovascular aneurysm repair (EVAR) is a novel treatment against abdominal or thoracic aortic aneurysm with a major advantage of being minimally invasive and highly efficient compared to open surgery. According to Centers for Diseases Control and Prevention, aortic aneurysm arises in 3% of people above the age 50, and about 5% to 8% of men above the age 65. The people at highest risk are men who smoke and possess hypertension. In case left undiagnosed, an aortic aneurysm with a diameter exceeding 6 cm has a 5-year mortality rate of 25% to 40% which is alarming. The diagnostics techniques have developed significantly over the decade leading to early disease diagnosis. Introduction of various medical platforms open for patients and doctors have increased the awareness and knowledge of patients about the risks related to lifestyle diseases and preventive measures.
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Aortic stent grafts market segmented on the basis of products such as abdominal aortic stent grafts and thoracic aortic stent grafts. Abdominal aortic stent grafts accounted for the largest market share in year 2017, due to key factors driving the market are high prevalence of abdominal aortic aneurysm, rising preference for minimally invasive surgeries, and technological development in aortic stent grafts manufacturing.
Market segmentation carried out on the basis of end-user comprises hospitals and ambulatory care centers. Hospitals segment was identified as the largest and fastest growing segment throughout the forecast period from 2018 to 2026 due to increasing number of hospitals in Asia Pacific to meet the needs of growing population, and hospitals are identified as the first point of contact for patients suffering with aneurysm. However, the United States is the only country where scenario is different due to increasing preference for ambulatory care centers over hospitals due to cost efficiency, and high accessibility.
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Market Competition Assessment:
The aortic stents grafts market is progressing and most of the largest players in the market are focusing on product improvement and minimizing post-surgery complications. The major players functioning in this market are Medtronic Plc, Cardinal Health, Inc., Cook Medical Inc., W.L. Gore & Associates Inc., Terumo Corporation Inc., ENDOLOGIX, INC., Lombard Medical, Inc., CryoLife, Inc., MicroPort Scientific Corporation, Altura Medical, and Aptus Endosystems among others.
Key Market Movements:
- Increasing prevalence of aneurysm in developed as well as developing countries
- Prevalence of thoracic aortic aneurysm is around 4.2% of the population living without hypertension. Major cases of thoracic aortic aneurysms occur in the aortic arch or the ascending aorta. In chronic cases aneurysm rupture accounts for 60% of deaths globally.
- Rising patient awareness related to early disease diagnosis, reimbursement policies, and efficient treatment options
- High rate of product recalls, scarcity of trained healthcare providers, low awareness regarding new EVAR treatment options among patients and risk of endoleaks are the major restraining factors affecting growth of this market
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By Product Type Segment
- Abdominal Aortic Stent Graft
- Thoracic Aortic Stent Graft
By End-User Segment
- Ambulatory Surgical Centers
By Geography Segment
- North America
- Asia Pacific (APAC)
- Latin America (LATAM)
- Middle East & Africa (MEA)
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