Market for devices for endovascular repair of abdominal aortic aneurysm

Endovascular Abdominal Aneurysm Repair Device Market Worth $3.53 Billion by 2031 – Exclusive Report by InsightAce Analytic Pvt. Sp. z o. o

InsightAce Analytics Sp. Ltd. announces the publication of a market assessment report on “Global Endovascular Abdominal Aortic Aneurysm Repair Devices Market – (By Product Type (Synthetic Fabric Graft, Stent Graft), By Age Group (Adults, Elderly, Children), By Material ( Polymer , metal), by aortic length (over 50 mm, over 100 mm, by end user (hospital, ambulatory surgical centers (ASC), research institutes, other)), trends, industry competitive analysis, revenue and forecast for 2031. “

According to the latest research from InsightAce Analytic, the global endovascular abdominal aortic aneurysm repair device market is valued at USD 2.43 billion in 2023 and is expected to reach USD 3.53 billion by 2031, at a CAGR of 4.9%. in the forecast period 2024-2031.

Endovascular devices have revolutionized the field of abdominal aortic aneurysm (AAA) treatment. For many patients, these devices provide a less invasive and safer alternative to traditional open surgery.

The main element of this technology are intravascular stent grafts. They consist of a cylindrical tube covered with fabric, supported by a metal frame (stent). The stent graft is surgically placed inside the aneurysm to create a new blood vessel, effectively bypassing the aneurysm and preventing it from bursting due to blood pressure.

Endovascular aneurysm repair (EVAR) using stent grafts is quickly becoming a standard intervention for AAA due to several advantages over open surgery:
• Shorter hospital stays
• Faster recovery time
• Better patient outcomes
• Avoiding major surgery
The growing preference for minimally invasive procedures is driving demand for innovative devices in the endovascular stent graft market. Technological advances in these devices, such as improved stent grafts and catheters, continue to improve patient safety and treatment success rates.

Title options:
• Minimally invasive revolution: market for endovascular stents for the treatment of abdominal aortic aneurysms
• Providing Hope: How Endovascular Devices Are Transforming AAA Treatment

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List of leading players in the endovascular abdominal aortic aneurysm repair market:

• Abbott Laboratories
• Cardinal Health Inc.
• WL Gore & Associates Inc
• Boston Scientific Corporation
• Cook Group incorporated
• Terumo Medical Corporation
• Medtronic Limited Liability Company
• Becton Dickinson and Company
• Koninklijke Philips NV
• Lombard Medical Inc.
• Endologix Inc.
• Other notable players

Market dynamics:

Drivers-
Increasing incidence of abdominal aortic aneurysm (AAA) and advancements in endovascular technology are the key factors influencing the global market share for endovascular abdominal aortic aneurysm repair devices over the next few years. The increase in the elderly population, the increase in the adoption of unhealthy lifestyles and the increase in obesity rates are also contributing to the growth of the market and increasing awareness about the condition and availability of advanced treatment options, which further increases the market statistics.

The increasing popularity of endovascular abdominal aortic aneurysm repair devices in emerging economies is creating lucrative business opportunities for endovascular abdominal aortic aneurysm repair devices market participants. Leading companies are focusing on developing new products using advanced technologies to expand their global reach.

Challenges:
The endovascular abdominal aortic aneurysm repair device market faces several constraints, including stringent regulatory requirements for approval, high upfront costs of devices and procedures limiting availability, and specialized training among healthcare professionals for proper implementation and maintenance. Additionally, technological advances and innovations in traditional surgical techniques create competitive challenges.

Economic constraints such as reimbursement policies and healthcare budget constraints further influence the market growth. Moreover, concerns about the long-term durability of the device and potential complications require ongoing research and development efforts to address safety and efficacy issues, exacerbating market constraints.

Regional trends:
The North American market for endovascular abdominal aortic aneurysm repair devices is expected to account for significant market share in revenue and will soon achieve a high CAGR. Growing population, rapid urbanization and increasing industrialization, coupled with intensification of research and development activities by leading players, are expected to accelerate the market growth in the region.

Besides, Europe had a large market share due to its developed economy and growing demand for products. This is due to new strategies of major players in the country and an increase in the number of EVAR procedures. Moreover, the participation of key market companies and increasing cooperation between key players provide opportunities for the development of this market.

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Last changes

• In January 2023, Medtronic initiated the first phase of a global randomized trial to evaluate the long-term effectiveness of endovascular aneurysm repair. The ADVANCE study was a global, forward-looking, interventional, multicenter, randomized trial that enrolled at least 550 participants in up to 50 locations worldwide.

• In October 2021, Terumo Aortic received regulatory approval and officially launched the Treo abdominal aortic stent transplantation system in Japan. The Treo device has been approved by the Japanese Pharmaceuticals and Medical Devices Agency for the treatment of people suffering from abdominal aortic aneurysm.

Market segmentation of endovascular equipment for abdominal aortic aneurysm repair
By product type-
• Synthetic fabric graft
• Stent graft

By age group-
• Adult
• Geriatric
• Pediatric

According to the material
• Polymer
• Metal

By aortic length
• Above 50 mm
• Above 100 mm

By the end user
• Hospital
• Ambulatory Surgical Centers (ASC)
• Research institutes
• Others

By region-
North America-
• United States
• Canada
• Mexico

Europe-
• Germany
• Great Britain
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia-Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East and Africa-
• GCC countries
• South Africa
• Rest of the Middle East and Africa

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