Aortic Endograft Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends
Posted by ramtbrc on May 8th, 2024
Overview and Scope
An aortic endograft, or endovascular stent graft, is a minimally invasive device used to repair weakened areas of the aorta, the main artery that carries blood from the heart to the rest of the body. It is used as an alternative to traditional open surgery for repairing aortic aneurysms.
Sizing and Forecast
The aortic endograft market size has grown strongly in recent years. It will grow from .14 billion in 2023 to .35 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to growth in medical tourism, increasing need for aortic aneurysm management, increasing number of aortic aneurysm cases, technical success of endograft implantation, increase in the number of hospitals.
The aortic endograft market size is expected to see strong growth in the next few years. It will grow to .08 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to increasing prevalence of abdominal aortic aneurysm, growing preference for minimally invasive endovascular procedures, rising geriatric population, advancements in stent-graft materials and configurations, introduction of new stent-graft products. Major trends in the forecast period include adoption of endovascular abdominal aortic aneurysm (AAA) repair devices, effectiveness of unibody and non-unibody aortic stent, product innovation.
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Segmentation & Regional Insights
The aortic endograft market covered in this report is segmented –
1) By Product: Abdominal Aortic Grafts, Thoracic Aortic Grafts
2) By Material: Metallic Endografts, Polymeric Endografts
3) By Procedure: Open Surgical Repair, Endovascular Aneurysm Repair (EVAR)
4) By End User: Hospitals, Ambulatory Surgical Centers
North America was the largest region in the aortic endograft market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aortic endograft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing prevalence of aortic aneurysms is expected to propel the growth of the aortic endograft market going forward. An aortic aneurysm is a localized and abnormal dilation or bulging of the aorta, which is the largest artery in the human body. Aortic endografts are used to treat aortic aneurysms because they are less invasive than traditional open surgery. A fabric-covered metal or polymer device is inserted through a catheter, strengthening weak aortic walls and lowering the risk of rupture. For instance, in February 2023, according to Government Digital Service, a UK-based public sector information website, around 274,800 men were offered screening, with 79.0% receiving a conclusive screen and 1,794 aneurysms being found April 2021 to March 2022. Therefore, the growing prevalence of aortic aneurysms is driving the growth of the aortic aneurysm market.
Key Industry Players
Major companies operating in the aortic endograft market report are Cardinal Health Inc., Abbott Laboratories, Medtronic Plc, Becton, Dickinson and Company, Koninklijke Philips N.V., Boston Scientific Corporation, Terumo Corporation, W. L. Gore & Associates Inc., Cook Medical Inc., Merit Medical Systems Inc., Penumbra Inc., LifeTech Scientific Corporation, Altura Medical Inc., MicroVention Inc., MicroPort Scientific Corporation, CryoLife Inc., Cordis Corporation, Endologix LLC, Braile Biomédica Indústria Comércio e Representações Ltda., Nano Endoluminal S.A., Biomerics LLC, JOTEC GmbH, Lombard Medical Inc., Aptus Endosystems Inc., Lombardi SA, Cardiatis S.A., Endospan Ltd., Transcatheter Technologies GmbH
The aortic endograft market report table of contents includes:
1. Executive Summary
2. Aortic Endograft Market Characteristics
3. Aortic Endograft Market Trends And Strategies
4. Aortic Endograft Market - Macro Economic Scenario
5. Global Aortic Endograft Market Size and Growth
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32. Global Aortic Endograft Market Competitive Benchmarking
33. Global Aortic Endograft Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Aortic Endograft Market
35. Aortic Endograft Market Future Outlook and Potential Analysis
36. Appendix
