Aortic Aneurysm Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Portrayed as a silent killer by medical experts, instances of (abdominal) aortic aneurysm are underpinned by hypertension, atherosclerosis, infection of aorta, and diseased aortic blood vessels. Besides smoking and tobacco consumption, hyperlipidemia, aging and a strong family history of CVDs and/or hyperlipidemia are cited as the key risk factors associated with aortic aneurysm condition, raising the demand for treatment of aortic aneurysm.
Competition Analysis: Global Aortic Aneurysm Market
Leading aortic aneurysm market players such as Terumo and Medtronic are focusing on strategic acquisitions and mergers involving relatively smaller companies, in an effort to capture new geographical territories, and enhance product portfolios. Research indicates that domestic/regional manufacturers of aortic aneurysms continue to capitalize on the benefits driven by a lower price point of stent grafts, over multinational brands.
Dynamics: Global Aortic Aneurysm Market
Dramatically rising rate of lifestyle disease prevalence and constantly expanding smoking population worldwide, collectively elevate the risks of aortic aneurysm. With geriatric population expanding at a progressive rate, the demand for aortic aneurysm treatment is likely to experience more prominence in the years to come.
Sustained tobacco consumption is another strong reason responsible for towering demand for treatment of aortic aneurysm. Advent of technology pushing the potential of endovascular surgical procedures is also cited as a high impact factor associated with the performance of the aortic aneurysm market. A relatively spiking number of FDA approvals for devices and treatment technologies used in aortic aneurysm treatment is one of the predominant factors favoring growth of global aortic aneurysm market.
High Availability of Treatment for Abdominal Aortic Aneurysm to Support Market Growth
An increasing number of instances of abdominal aortic aneurysm occurring at juxtarenal or infrarenal part of lower abdomen has been prominently highlighting the need for abdominal aortic aneurysm treatment in the market. On the other side, the prevalence of thoracic aortic aneurysm has been growing at a relatively steady pace, and thus fueling the demand for aortic aneurysm treatment at a moderate pace. However, introduction of advanced technology enabled products in the thoracic aortic aneurysm segment is likely to contribute to the performance of aortic aneurysm market in the years to come.
Launch of High-tech Stent Grafts to Assist Revenue Growth of Aortic Aneurysm Market
Catheters that are used for occlusion and blood vessel expansion typically account for additional expenditure adding to the overall treatment costs. Whereas, stent grafts that are consistently influenced by design innovations driven by technological advancements, which is encouraging new product launches such as aortic aneurysm stent grafts with in-built imaging and delivery catheter – in turn, pushing prospects of aortic aneurysm market.
Aortic Aneurysm Market Continues to Witness Significant Expansion across North America
North America has been a key investment pocket for leading players in aortic aneurysm market owing to a significant number of abdominal aortic aneurysm cases, early technology adoption, high acceptance of cutting-edge technology enabled products, and a progressive market scenario for strategic collaborative agreements between key players. Tightening regulatory framework in the US is governing quality of new launches, ultimately favoring the growth of aortic aneurysm market, further complemented by the overall reimbursement scenario for surgical aortic aneurysm procedures. While the US Medicare Policy covers over 70% of the treatment costs, a contrary medical reimbursement scenario in developing countries is restricting penetration of aortic aneurysm treatment.
Taxonomy: Global Aortic Aneurysm Market
Based on type, the global aortic aneurysm market is categorized into -
By the type of treatment, the global aortic aneurysm market is segmented into -
On the basis of type of product, the global aortic aneurysm market is classified into -
End use-wise, the global aortic aneurysm market is segmented into -
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Latest Trends and Cardinal Growth Prospects
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Existing and Future Insights in Growth
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Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
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This report is the key to questions such as:
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