Global Aortic Aneurysm Market, by Type (Thoracic Aortic Aneurysm and Abdominal Aortic Aneurysm), by Treatment (Open Surgical Repair and Endovascular Aneurysm Repair), by Product (Stent Grafts and Catheters), by End-Use (Hospitals and Ambulatory Surgery Centres & Clinics), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global aortic aneurysm market in 2020 is estimated for more than US$ 3.6 Bn and expected to reach a value of US$ 7.1 Bn by 2028 with a significant CAGR of 8.9%
As per the report, the aortic aneurysm market is estimated to have a steady growth during the forecast years, accounting for the rise in the elderly populace, increasing count of patients suffering from hyperlipidemia and hypertension and the trending culture of smoking across the globe.
An upsurge in the numbers of cardiovascular disease cases along with the technical development in the medical and healthcare sector is also expected to boosts market growth. In addition, the supportive reimbursement policy for aortic aneurysms treatment in developed regions also aids positive growth during the forecast period.
Besides, the poor dietary habits prevailing among a large count of population coupled with the improving healthcare infrastructure and the mounting cases of abdominal aortic aneurysm also propels the growth of aortic aneurysm market.
However, the expensive nature of aortic aneurysm treatment along with the high cost of the device is likely to restrict the market growth. Besides, the low reimbursement in the emerging regions and the risk linked with aortic aneurysm treatment process is also hampering the demand for aortic aneurysm treatment.
Furthermore, Meridian Market Consultants (MMC) Study identifies that the nations with the majority of middle income and low-income groups are more to this condition, accounting for the lack of awareness about the ill effects of smoking along with the associated threat of development of an aneurysm.
Moreover, the favorable reimbursement and regulations for the treatment of this condition across the globe also favor the growth of the global aortic aneurysm market.
Besides, the strategic collaboration among the key players is also boosting the market growth. For instance, Vascutek Ltd. and Bolton Medical, Inc. merged together for the production of one single business unit. This merger will strengthen its business relationship and will aid in expanding its product portfolio to maintain their position in the global market.
Besides, the low accessibility to other treatment options for curing thoracic aortic aneurysm repair coupled with the challenging compliance serves to be the challenging factors affecting the market growth. MMC Study identifies some of the key participating players in the aortic aneurysm market globally are Cook Medical (Cook Group), Endologix, Gore Medical (W. L. Gore & Associates), JOTEC (CryoLife, Inc.), Lombard Medical, MAQUET Holding B.V. & Co. KG, Medtronic PLC, Microport Scientific Corporation, and Terumo Corporation.
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