Aortic Aneurysm Market Overview With Comprehensive Analysis and Current Updates with Scope to 2023

Published on September 24 2020 by Gadewar Shri

MRFR has published detailed analysis on “Aortic Aneurysm Market 2023” and also provided detailed analysis on market trends, market overview

Market Analysis :

An abdominal aortic aneurysm is an aneurysm in the part of the aorta that passes through the abdomen while thoracic aortic aneurysm is an aortic aneurysm that presents mainly in the thorax. Some of the market growth factors include rising prevalence of tobacco smoking in the developed and developing countries, worldwide growing elderly population coupled with the increasing burden of cardiovascular diseases, favorable reimbursement scenarios for surgical treatment of aortic aneurysms, and mounting technological advancements in products. In contrast, the presence of low reimbursement rates in the developing countries and higher cost of aortic aneurysm treatment and devices are anticipated to hinder the market growth during the next five years.

Also Read: https://www.medgadget.com/2020/04/aortic-aneurysm-market-to-expand-triggered-by-rising-tobacco-consumption.html

The global aortic aneurysm market is predicted to grow at an 8.4% CAGR between 2019-2023, reveals the latest Market Research Future (MRFR) report. An aortic aneurysm, simply put, is an enlargement of the aorta, which is above 1.5 times more than the normal size. Generally, this condition has no symptoms except if ruptured. During enlargement, people may experience a few symptoms, such as a pulse near their bellybutton, back pain, and constant, deep pain on the side of the abdomen or the abdomen. Aortic aneurysm is of two types- abdominal aortic aneurysm and thoracic aortic aneurysm.

On the flip side, the high price of treatment and devices and low reimbursement rates are factors that may deter the aortic aneurysm market growth during the forecast period.

Key Players:

Cardinal Health, Inc, JO0TEC AG (CryoLife, Inc.), Lombard Medical Limited, W. L. Gore & Associates, Endologix, Inc., MAQUET Holding B.V. & Co. KG, Microport Scientific Corporation, Terumo Medical Corporation, Cook Medical, and Medtronic Plc.

Market Segmentation:

The MRFR report provides an all-inclusive segmental analysis of the Aortic Aneurysm Market Share on the basis of end user, treatment, product, and type.

Based on type, the aortic aneurysm market is segmented into thoracic aortic aneurysm (TAA), and abdominal aortic aneurysm (AAA). Of these, the abdominal aortic aneurysm segment will have the largest share in the market over the forecast period chiefly on account of the increasing incidence of the disease.

Based on the product, the aortic aneurysm market is segmented into catheters, stent-grafts, and others. Of these, the stent-graft segment will dominate the market over the forecast period on account of technological advancements in stent-graft designing. It is predicted to grow at the highest CAGR.

Based on treatment, the aortic aneurysm market is segmented into open surgical repair (OSR) and endovascular aneurysm repair (EVAR).

Based on end user, the aortic aneurysm market is segmented into ambulatory surgery centers (ASCs), hospitals and clinics, and others. Of these, hospitals and clinics will dominate the market over the forecast period.

Regional Analysis:

By region, the aortic aneurysm market report covers the latest trends and growth opportunities across the Americas, the Middle East and Africa, the Asia Pacific, and Europe. Of these, the Americas will lead the market over the forecast period. Factors propelling the growth of the aortic aneurysm market in the region include frequent launches of new devices in Canada as well as the US, higher expenditure on healthcare, presence of major market participants in the region, and presence of sophisticated healthcare and medical infrastructure.

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The aortic aneurysm market in Europe is predicted to have the second-largest share in the market over the forecast period. Factors propelling the growth of the aortic aneurysm market in the region include favorable initiatives undertaken by organizations for reducing the burden of aortic aneurysm and the highest prevalence of tobacco smoking.

The aortic aneurysm market in the APAC region is predicted to grow at the fastest pace over the forecast period. Factors propelling the growth of the aortic aneurysm market in the region include developing healthcare infrastructure in Australia, China, and India, growing awareness about aortic aneurysm treatment, increasing prevalence of hypertension and cardiovascular diseases, and growing geriatric population.

The aortic aneurysm market in the Middle East and Africa is predicted to have a minimal share in the market over the forecast period. The major share is held by the Middle Eastern region. Aortic aneurysm is extremely rare in the Middle East regions, with few lives threatened by it annually.

Industry News:

October 2019: Medtronic has received a designation from the FDA for a stent-graft system that has been designed for sealing off big aortic aneurysms that span into the abdomen from the chest.