Market Research Future (MRFR) predicts the global endovascular aneurysm repair devices market to grow at a CAGR of 6.4% over the forecast period from 2018 to 2023, according to a new report. The global endovascular aneurysm repair devices market is likely to grow at a steady growth rate over the forecast period due to the growing prevalence of endovascular aneurysms and the increasing awareness about their treatment. The steady technological advancement in the global endovascular aneurysm repair devices market is likely to be a major driver for the market over the forecast period.
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Endovascular aneurysms occur when the aorta develops a weakened spot; they are defined as a localized enlargement that is more than 50% larger than the normal diameter of the aorta. Endovascular aneurysms mostly occur in elderly men and are caused by persistent cardiovascular diseases and a longstanding smoking habit. The weakening in the aorta can cause a bulge, which can affect the blood pressure and blood distribution patterns in the body. If the aneurysm ruptures, it can result in a catastrophic disruption in the blood pressure, possibly resulting in death. To prevent this situation, the aneurysm is repaired with the endovascular aneurysm repair procedure. The growing prevalence of endovascular aneurysms is likely to drive the global endovascular aneurysm repair devices market over the forecast period.
The decreased recovery time due to endovascular aneurysm repair over open surgery is a major driver for the global endovascular aneurysm repair devices market. Rapid technological advancements in the technological setup required for endovascular aneurysm repair is also likely to be a major driver for the global endovascular aneurysm repair devices market over the forecast period.
Segmentation:
The global endovascular aneurysm repair devices market is segmented on the basis of indication, site, anatomy, and product type.
On the basis of indication, the global endovascular aneurysm repair devices market is segmented into abdominal and thoracic aortic aneurysm. The thoracic aortic aneurysm segment is further subdivided into ascending, descending, thoracoabdominal, and thoracic arch aortic aneurysm.
On the basis of site, the global endovascular aneurysm repair devices market is segmented into infrarenal and pararenal. The pararenal segment is further subdivided into juxtarenal and suprarenal.
On the basis of anatomy, the global endovascular aneurysm repair devices market is segmented into traditional and complex.
On the basis of product, the global endovascular aneurysm repair devices market is segmented into percutaneous EVAR, fenestrated EVAR, aortic stents and TAA grafts, and others.
Regional Analysis:
The global endovascular aneurysm repair devices market is segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas and Europe are likely to be the major regional markets for endovascular aneurysm repair devices over the forecast period, with the Americas holding the dominant share due to the growing prevalence of cardiovascular conditions and the growing popularity of the habit of smoking. The increasing geriatric population in North America and Europe is also likely to be crucial for the endovascular aneurysm repair devices market over the forecast period, as the prevalence of endovascular aneurysms is higher in elderly people than in younger demographics. The advanced healthcare sector in North America and Europe is also likely to be a major driver for the global endovascular aneurysm repair devices market over the forecast period, as advanced repair devices and techniques have been incorporated into the healthcare sector in these regions in recent years and are likely to drive the demand for more procedures in the coming years. Europe is expected to hold on to second position in the global endovascular aneurysm repair devices market over the forecast period due to the growing prevalence of aortic aneurysms in the region.
Competitive Analysis:
Leading players in the global endovascular aneurysm repair devices market include Cardiatis SA, Cook Medical LLC, Jotec GmbH, Terumo Corporation, BiFlow Medical Ltd., Braile Biomedica, Endospan Ltd., Lemaitre Vascular Inc., Getinge AB, Endoluminal Sciences Pty Ltd., Boston Scientific Corporation, W. L. Gore & Associates Inc., Medtronic plc, Endologix Inc., and Cardinal Health.
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