Global abdominal aortic aneurysm repair devices market - 2024-2031

Global abdominal aortic aneurysm repair devices market - 2024-2031

The global abdominal aortic aneurysm repair devices market reached US$YY million in 2023 and is expected to reach US$YY million by 2031, growing at a CAGR ofYY% during the forecast period 2024-2031.

An abdominal aortic aneurysm (AAA) is a condition that primarily affects people over 65. Because of technological advances in aneurysm repair treatments, the market for abdominal aortic aneurysm repair devices is rapidly expanding. Endovascular stent grafting is used to treat abdominal aortic aneurysms rather than open surgery.

Minimally invasive surgeries are increasingly being covered by health insurance providers in select countries. These factors have led to an increased preference for minimally invasive surgeries among patients. Traditional open surgeries involve long incisions made through the muscles, and these muscles take a considerable amount of time to heal, whereas MIS procedures involve smaller incisions, leading to a quicker recovery. These surgeries have been gaining wider acceptance among the geriatric population, due to the relatively shorter recovery time. The growing elderly population (65 and older) fuels the market's expansion.

An aberrant expansion is an enlargement of the abdominal aorta, called an abdominal aortic aneurysm (AAA), usually involving the infrarenal and aorto-iliac arteries. If AAA bursts, it might be fatal. In smokers, it is more common. Aneurysms that are large or expanding quickly need to be surgically treated.

Market Dynamics: Drivers

Technological Advancements in Healthcare

The demand for the abdominal aortic aneurysm repair devices market is driven by multiple factors. The market is expected to grow due to technological advancements in repair medical equipment and methods, an increase in the adoption of EVAR treatments, an increase in demand for minimally invasive therapy, and the availability of favorable reimbursements.

The rise in abdominal aortic aneurysm mortality rates is a major factor driving the growth of the global abdominal aneurysm repair device market in Europe. For example, in the United Kingdom, approximately 19,000 deaths occur each year, with AAA accounting for half of them.

Furthermore, according to a study published in the European Journal of Vascular and Endovascular Surgery, AAA was responsible for approximately 1,251 deaths in Germany. In response to the rising mortality rate, countries in the region have implemented screening programs and EVAR treatment options to reduce incidence rates, resulting in fewer aneurysm-related deaths in hospitals. Germany was one of the first countries to use the EAVR procedure to treat an abdominal aortic aneurysm.

Furthermore, the favorable reimbursement for EVAR procedures makes it an attractive market for abdominal aortic aneurysms. Furthermore, the United Kingdom (UK) has implemented a National Health Service (NHS) screening program for the early detection of abdominal aneurysms, which has aided in the rapid diagnosis of the disease, increasing demand for abdominal aortic aneurysm treatment options. Italy and Spain are potential markets for abdominal aortic aneurysm repair procedures. These factors are likely to boost the abdominal aortic aneurysm repair devices market.

For instance, in June 2023, The U.S. Food and Drug Administration (FDA) approved Cook Medical to initiate an Investigational Device Exemption (IDE) study on the Zenith Fenestrated+ Endovascular Graft (ZFEN+) for the treatment of aortic aneurysms.

Also, Cook Medical, Inc. introduced the Zenith Fenestrated+ Endovascular Graft product ZFEN+ is utilized in the endovascular management of aortic aneurysms in March 2021.

Restraints

Factors such as the high cost of the treatment, lack of solutions for difficult anatomies, and lack of awareness are expected to hamper the market.

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Segment Analysis

The abdominal aortic aneurysm repair devices market is segmented based on product, site, application, end-user, and region.

The vascular closure devices segment accounted for approximately 56.4% of the abdominal aortic aneurysm repair devices market share

The vascular closure devices segment is expected to hold the largest market share over the forecast period. Factors such as increased catheterization-related procedures, increased demand for minimally-invasive solutions, the ease of use of VCDs, and the growing burden of cardiovascular diseases are driving the market growth.

Globally, more people die each year from cardiovascular diseases – primarily ischemic heart disease and stroke – than from any other cause. For instance, as per the 2021 Pan American Health Organization (PAHO), cardiovascular diseases account for 40.8 million disability-adjusted life years (DALYs) in the Americas.

In addition, according to the National Center for Chronic Disease Prevention and Health Promotion, Division for Heart Disease and Stroke Prevention data updated in July 2022, coronary heart disease is the most common type of heart disease. Moreover, every year, about 805,000 people in the United States have a heart attack.



The numerous benefits of minimally invasive surgeries, such as reduced surgical pain, injury, scarring, hospital stay, higher accuracy, and faster recovery time, entice many patients to choose minimally invasive balloon angioplasty surgeries.

The growing burden of cardiovascular disease and its deaths creates a need for treatment devices, which drives the market growth. For example, the World Health Organization article titled ""Cardiovascular Diseases: Key Facts,"" which was updated in June 2021, stated that cardiovascular diseases (CVDs) are the leading cause of death worldwide.

Furthermore, market growth is fueled by introducing new products into the market. For example, Haemonetics Corporation received US Food and Drug Administration approval for the VASCADE MVP Venous Vascular Closure System in September 2021. As a result, various market players' number of regulatory authority approvals for products is boosting the market growth.

Geographical Analysis

North America accounted for approximately 44.8% of the abdominal aortic aneurysm repair devices market share

North America region is expected to hold the largest market share over the forecast period owing to the lion's share because of the widespread use of advanced treatment procedures such as EVAR. Furthermore, many market players have launched technologically advanced devices to gain a strong foothold in the market.

Endologix, Inc., received FDA approval for the AFX2 Bifurcated Endograft System, which facilitates percutaneous EVAR by providing low-profile contralateral access through a 7-F introducer reducing the steps required to deliver or deploy the bifurcated endograft. Product development and innovation are expected to drive demand for endovascular treatment options.

For instance, Endologix's Chimney Endovascular Aneurysm Sealing (ChEVAS) system was approved by the FDA in July 2021. With the Nellix 3.5 endograft and parallel visceral stents, this system is an innovative endovascular therapy for patients with pararenal, juxtarenal, and suprarenal AAA.

Due to the widespread adoption of screening programs and abdominal aortic aneurysm repair treatment options. North American region is developing novel treatment and diagnostic methods. Furthermore, rising death rates increased patient awareness of the availability of new abdominal aortic aneurysm repair procedures. Advanced healthcare infrastructure is expected to drive the growth of the abdominal aortic aneurysm repair devices market in North America.

COVID-19 Impact Analysis

The COVID-19 pandemic significantly impacted the abdominal aortic aneurysm repair devices market. In 2019, the novel coronavirus (COVID-19) rapidly spread across various countries and regions, having a massive impact on people's lives and the global community. It began as a human health issue and has since evolved into a major threat to global trade, economy, and finance. Due to lockdowns caused by the COVID-19 pandemic, many products in the abdominal aortic aneurysm (AAA) repair device market were halted.

Furthermore, as the COVID-19 vaccine becomes available, the number of COVID-19 cases is expected to decrease. This has resulted in reopening abdominal aortic aneurysm (AAA) repair device companies to full capacity. This is expected to aid the market's recovery by the beginning of 2022. After COVID-19 infection cases begin to decline, manufacturers of equipment and machinery must focus on protecting their employees, operations, and supply networks to respond to urgent emergencies and establish new working methods.

Market Segmentation

By Product
• Stent Graft
• Synthetic Stent Graft
• Catheter
• Guidewire
• Vascular Closure Devices
• Balloon Inflation Devices

By Site
• Infrarenal Abdominal Aortic Aneurysm
• Pararenal Abdominal Aortic Aneurysm

By Application
• Traditional Anatomy
• Complex Anatomy

By End-Users
• Hospitals
• Ambulatory Surgical Centers
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
U.K.
France
Spain
Italy
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the abdominal aortic aneurysm repair devices market include Cardinal Health, Cadiva Medical, Biotronik, Medtronic Plc, Cook Medical, Endologix Inc, WL Gore & Associates Inc, Lombard Medical Inc, and Terumo Corporation, among others.

Key Developments

 On January 31, 2024, Cook Medical announced the first patient treated in the clinical study of the ZENITH FENESTRATED+ Endovascular Graft (ZFEN+) in the United States.

 On January 28, 2022, Humacyte reported preclinical results of a Small-Diameter Human Acellular Vessel (HAV) in Coronary Artery Bypass Grafting.

 On January 20, 2022, Cardiovascular Systems, Inc. along with OrbusNeich Medical Company Ltd (OrbusNeich), received approval from the United States Food and Drug Administration for OrbusNeich's Scoreflex NC Scoring Percutaneous Transluminal Coronary Angioplasty (PTCA) Catheter (Scoreflex NC).

 On January 27, 2021, Philips integrated 3D ultrasound with innovative software for a breakthrough in surveillance of abdominal aortic aneurysm.

Why Purchase the Report?
• To visualize the abdominal aortic aneurysm repair devices market segmentation based on product, site, application, end-user, and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development
• Excel data sheet with numerous data points of abdominal aortic aneurysm repair devices market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping is available in excel consisting of key products of all the major players.

The abdominal aortic aneurysm repair devices market report would provide approximately 73 tables, 64 figures, and 182 Pages.

Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies