Global Aortic Stents Grafts Market, by Product Type (Abdominal Aortic Stent Graft and Thoracic Aortic Stent Graft), by End User (Hospitals and Ambulatory Surgical Centres/Outpatient Surgical Centres) 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 stents grafts market in 2020 is estimated for more than US$ 2.6 Bn and expected to reach a value of US$ 4.5 Bn by 2028 with a significant CAGR of 7.3%.
As per the report, a growing count of the elderly population with the occurrence of aortic aneurysm, implementation of new surgical techniques, rising healthcare expenditure, and the adoption of minimally invasive surgeries are the prime factors responsible for favoring the growth of global aortic stents grafts market. In addition, the supportive reimbursement policies for endovascular repair surgeries with the high rate adoption of EVAR procedures also positively impacts the market growth.
Besides, the introduction and commercialization of advanced grafts, growing prevalence of abdominal aortic aneurysm (AAA), and the strategic business strategies like merger & acquisition activities, new product launch among manufacturers are also expected to fuel the market growth during the forecast period. On the other hand, the dearth of expertise in the healthcare industry coupled with the low awareness about the latest EVAR treatment options among the general public is likely to hamper the market growth.
Furthermore, Meridian Market Consultants (MMC) Study identifies that the growing adoption of MI EVAR for the treatment of aortic aneurysms, increasing life expectancy of humans, mounting occurrence of aneurysm, and the implementation of business development activities among key players of the global aortic stents grafts market are responsible for fuelling the market growth during the next decade. On the other note, lack of healthcare experts is likely to hamper the market growth. However, the adoption of technological advancements in this sector serves to be the major trending factor favoring the growth of this market.
MMC Study identifies some of the key participating players in aortic stents grafts market globally are Becton, Dickinson and Company, Cardinal Health, Inc., Cook Medical Inc., CryoLife, Inc., Endologix, Inc., Lombard Medical, Inc., Medtronic Plc., MicroPort Scientific Corporation, Terumo Corporation Inc., and W.L. Gore & Associates Inc.
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