Asia Pacific Aortic Stent Graft Market Report and Forecast 2024-2032

Asia Pacific Aortic Stent Graft Market Report and Forecast 2024-2032

Asia Pacific Aortic Stent Graft Market Report and Forecast 2024-2032

Asia Pacific Aortic Stent Graft Market Outlook

The global aortic stent graft market size was valued at USD 3.1 billion in 2023, with Asia Pacific holding a significant market share. The market is driven by the growing aging population and the rising demand for minimally invasive surgeries. It is expected to grow at a CAGR of 5.8% during the forecast period of 2024-2032, with the values likely to attain USD 5.2 billion by 2032.

Key Takeaways

• The prevalence of aortic aneurysms and dissections (AAD) is estimated to be around 1-3% in the general population. However, in the older age groups, the prevalence increases to 10%. The growing aging population in the Asia Pacific region is expected to directly impact market demand.
• LifeTech Scientific Corporation reported that revenue generated from the sales of stent grafts till December 2023 witnessed an increase by 11.2%, reflecting a rise in the adoption of the device for treatment interventions. This growing preference for endovascular repair using aortic stent grafts is anticipated to boost the Asia Pacific aortic stent graft market share.
• One of the major market trends is the surge in approvals of new and advanced aortic stent graft systems. In July 2023, Terumo Aortic’s Thoraflex Hybrid frozen elephant trunk (FET) device received approval from the Japanese Pharmaceuticals and Medical Devices Agency (PMDA) for the treatment of complex aortic arch disease.

Asia Pacific Aortic Stent Graft Market Analysis

Aortic stent grafts are medical devices that are used in the treatment of aortic aneurysms (bulges in the wall of the aorta). They are designed to reinforce the weakened area in the aorta and prevent rupture of the aneurysm. The aortic stent graft is placed using an endovascular procedure (Endovascular aneurysm repair or thoracic endovascular aneurysm repair), which is less invasive compared to open surgery. The rising patient inclination towards such minimally invasive surgeries is expected to drive the Asia Pacific aortic stent graft market growth. Moreover, the increasing advancements in imaging and manufacturing technologies are also contributing to the growing acceptance of this medical device.

The Asia Pacific region is characterized by a rising aging population, particularly in countries like Japan where 29.1% of the 125 million population is aged 65 or over . The prevalence of aortic aneurysms and dissections (AAD) is estimated to be around 1-3% in the general population. However, in the older age groups, the prevalence increases to 10%. As the population ages, the risk for cardiovascular diseases including aortic aneurysms is likely to rise, which is poised to fuel the Asia Pacific aortic stent graft market demand in the forecast period.

LifeTech Scientific Corporation , a Chinese manufacturer of minimally invasive interventional medical devices for cardio-cerebrovascular and peripheral vascular diseases, announced the 2023 annual results, revealing the successful penetration of the company’s medical device products at different market levels in China including aortic stent grafts. Further, it was reported that revenue generated was increased by 11.2% from the sales of stent grafts for the year ended 31 December 2023, indicating an increased adoption of the devices for treatment interventions. The growing preference for endovascular repair using aortic stent grafts due to low procedural morbidity and mortality rates is anticipated to augment the market share.

One of the major Asia Pacific aortic stent graft market trends is the surge in approvals of new and advanced aortic stent graft systems. In July 2023, stent graft manufacturer Terumo Aortic announced that its Thoraflex Hybrid frozen elephant trunk (FET) device has received approval from the Japanese Pharmaceuticals and Medical Devices Agency (PMDA) for the commercial sale of the product in Japan for the treatment of complex aortic arch disease. The single-use medical device comprises Gelweave polyester graft with a Nitinol self-expanding stent graft and is employed for the open surgical repair or replacement of diseased or damaged vessels in cases of aneurysm or dissection. The rising introduction of such innovative stent grafts facilitated by the presence of a supportive regulatory framework is expected to bolster market growth.

Asia Pacific Aortic Stent Graft Market Segmentation  

Market Breakup by Product

• Abdominal Aortic Stent Grafts
• Thoracic Aortic Stent Grafts

Market Breakup by End User

• Hospitals
• Ambulatory Surgical Centres
• Others

Market Breakup by Countries

• China
• Japan
• ASEAN
• Australia
• India
• Others

Asia Pacific Aortic Stent Graft Market: Competitor Landscape

The key features of the market report include patent analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Cook Medical, Inc.
• W.L. Gore & Associates
• MicroPort Scientific Corporation Inc.
• Medtronic Plc.
• Lombard Medical, Inc.
• Endologix, Inc.
• Terumo Corporation Inc.
• Cardinal Health Inc.
• Becton, Dickinson and Company
• CryoLife Inc.

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

FAQs

• What is the Asia Pacific aortic stent graft market forecast outlook for 2024-2032?

The Asia Pacific aortic stent graft market is expected to be driven by the rising demand for the global market, which is anticipated to grow at a CAGR of 5.8% during the forecast period of 2024-2032 and is likely to reach a market value of USD 5.2 billion by 2032.

• What are the major factors aiding the Asia Pacific aortic stent graft market demand?

The growing aging population and the rising demand for minimally invasive surgeries are fuelling the demand for the market.

• What are the major Asia Pacific aortic stent graft market trends?

One of the significant trends in the market is the surge in approvals of new and advanced aortic stent graft systems. In July 2023, Terumo Aortic’s Thoraflex Hybrid frozen elephant trunk (FET) device received approval from the Japanese Pharmaceuticals and Medical Devices Agency (PMDA) for the treatment of complex aortic arch disease.

• What is the market segmentation based on the product?

Based on the product, the market is segmented into abdominal aortic stent grafts and thoracic aortic stent grafts.

• What are the major end users of the market?

End users of the market are hospitals and ambulatory surgical centers, among others.

• What is the market segmentation by countries?

The market segmentation by countries includes China, Japan, India, ASEAN, and Australia, among others.

• Who are the key players involved in the Asia Pacific aortic stent graft market?

The key players in the market are Cook Medical, Inc., W.L. Gore & Associates, MicroPort Scientific Corporation Inc., Medtronic Plc., Lombard Medical, Inc., Endologix, Inc., Terumo Corporation Inc., Cardinal Health Inc., Becton, Dickinson and Company, and CryoLife Inc.

Meta description

The Asia Pacific aortic stent graft market is poised for growth, driven by the expansion of the global market, which was valued at USD 3.1 billion in 2023 and is projected to grow at a CAGR of 5.8% during the forecast period of 2024-2032.

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