The aortic stent graft market is expected to reach over $3.7 billion by 2024
NEW YORK, Aug. 14, 2019 /PRNewswire/ --
The aortic stent graft market is expected to reach over $3.7 billion by 2024, growing at an impressive CAGR of around 6% during 2018-2024.
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The aortic stent graft market is expected to benefit from the following trends:
-- High popularity of FEVAR procedure
-- Emergence of EVAS procedure
-- High preference for MI aneurysm repair
-- Growth in mergers and acquisitions
The commercialization of innovative grafts such as fenestrated aortic stent grafts has further broadened the treatment options for aortic aneurysm, thereby increasing the market for aortic stent grafts. With recent advancements in fenestrated stent graft technology, endovascular approaches are becoming options to treat patients with complex anatomies. Hence, the rise in the number of aortic aneurysm patient population is expected to contribute to the overall growth of the global aortic stent graft market. Also, the increasing number of government screening programs for the elderly population to detect aortic aneurysm has provided immense growth opportunities for the global aortic stent graft market.
The research report on the aortic stent graft market covers sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study includes insights on segmentation by aneurysm (abdominal aortic aneurysm and thoracic aortic aneurysm), end-users (hospitals and ASCs), and geography (North America, Europe, APAC, Latin America, and MEA).
The study considers the present scenario of the market and its market dynamics for the period 2018?2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply aspect of the market. The report profiles and examines leading companies and other prominent companies operating in the aortic stent graft market.
Aortic Stent Graft Market: Segmentation
This market research report includes the detailed segmentation of the market by aneurysm, end-users, and geography. The increase in the aging population and the rise of abdominal aortic aneurysm are major factors for the high share of the abdominal aortic aneurysm (AAA) segment in the aortic stent graft market. Further, the market is expected to grow at a healthy rate due to the growing preference for EVAR procedures. In addition, vendors are focusing on bifurcated abdominal aortic stent grafts, which are compatible with EVAR procedures. They are also extensively investing in R&D activities and conducting clinical trials to develop innovative devices.
Hospitals perform aortic aneurysm repair procedures at a large scale for both abdominal and thoracic aortic aneurysms. Hence, the high number of aortic aneurysms, coupled with the wide acceptance of MI procedures over open repair procedures for treating aortic aneurysms, is boosting the market growth of the hospital segment and is likely to continue during the forecast period. The ASC segment is growing at a faster rate than the hospital segment and is expected to grow at a similar rate during the forecast period due to the increasing preference among patients to undergo MI procedures such as TEVAR and EVAR in ASCs than hospitals.
Market Segmentation by Aneurysm
-- Abdominal aortic aneurysm
-- Thoracic aortic aneurysm
Market Segmentation by End-users
-- Hospitals
-- ASCs
Aortic Stent Graft Market: Geography
North America is growing at a significant rate due to the growing preference for technologically advanced grafts and MI repair techniques such as EVAR, EVAS, and FEVAR. Also, the increasing aging population and the growing number of people diagnosed with aortic aneurysms are the major drivers for the aortic stent graft market in the region. North America dominated the aortic stent market in 2018. Germany, the UK, France, Spain, and Italy are the major revenue contributors in the stent graft market in Europe. Further, the market in APAC is growing at a steady rate and is likely to offer significant growth opportunities for key local players in the coming years.
Market Segmentation by Geography
-- North America
o US
o Canada
-- Europe
o Germany
o UK
o France
o Spain
o Italy
-- APAC
o Japan
o China
o Australia
-- Latin America
o Brazil
o Mexico
-- MEA
o Turkey
o Saudi Arabia
Key Vendor Analysis
The aortic stent graft market is highly consolidated with major players accounting for dominant shares. Key companies have a wide geographical presence, diversified product portfolio, and a strong focus on innovation and research activities. Although major players dominate the market, few emerging companies are gaining traction with their innovative grafts and technologies. Several leading players are focusing on implementing strategies such as product launches, innovative marketing, and promotional activities, strategic acquisitions, increase in R&D investment, and strengthen their distribution networks to enhance their market share and presence in the aortic stent graft market.
Key Vendors
-- Medtronic
-- Cook Medical
-- L. Gore & Associates
Other Prominent Vendors are
-- Endologix
-- MicroPort Scientific
-- Terumo
-- CryoLife
Other Vendors
-- Bentley Innomed
-- BraileBiomédica,
-- Cardinal Health
-- LeMaitre Vascular
Key Market Insights
The report provides the following insights into the aortic stent graft market for the forecast period 2019-2024.
-- Offers market sizing and growth prospects of the aortic stent graft market during 2019-2024.
-- Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the aortic stent graft market.
-- Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
-- Delivers a complete overview of market segments and the regional outlook of the market.
-- Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the aortic stent graft market.
Read the full report: https://www.reportlinker.com/p05806370/?utm_source=PRN
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