Aortic Aneurysm Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Aortic Aneurysm Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global aortic aneurysm market, valued at US$ 3.91 Billion in 2024, is set to exhibit remarkable growth during the forecast period from 2024 to 2031. This substantial growth trajectory aims to accumulate a market value of US$ 9.61 Billion by 2031.

Factors Driving Market Growth:

The growth of the aortic aneurysm market can be attributed to several pivotal factors:
• Increasing Prevalence of Atherosclerosis: The rising incidence of atherosclerosis and its associated risks have become major drivers of market growth.
• Rising Geriatric Population: The expanding elderly population globally is contributing significantly to the patient pool. The U.S. Department of Health and Human Services predicts a substantial increase in the elderly population, reaching 80.8 Billion by 2040 and 94.7 Billion by 2060.
• Smoking-Related Risk: Smoking is a significant risk factor for developing aortic aneurysms, and the global prevalence of tobacco use is contributing to the market growth.
• Minimally Invasive Procedures: The increasing demand for minimally invasive procedures and favorable health reimbursement policies are further augmenting market expansion.

Challenges Faced by the Aortic Aneurysm Market:

Despite the positive growth prospects, the market faces certain challenges, including:
• Lack of Awareness: Limited awareness among the general public about aortic aneurysms and the cost associated with their treatment is hampering market growth.
• Complications: Complications related to aortic aneurysm treatment, such as iliac perforation, stent stenosis, endoleaks, and end tension, pose challenges to the market.
• Traditional vs. Minimally Invasive Procedures: The slow replacement of traditional surgical procedures by minimally invasive surgeries, such as EVAR, in advanced countries is a noteworthy market challenge.

Regional Insights:
• North America: Rapid technological advancements, a shift toward minimally invasive procedures, and the implementation of health screening programs have positioned North America as a prominent market, accounting for 47% of the aortic aneurysm market share in 2022.
• Europe: Europe's significant market share can be attributed to technological advancements and the high prevalence of atherosclerosis. National organizations, such as the National Health Service (NHS), are actively working to reduce aortic aneurysm incidences.
• Asia Pacific: The Asia Pacific region is expected to witness substantial growth due to a rising aging population, an increased prevalence of cardiovascular diseases, and growing disposable income. The presence of a sizable aging population is favoring market expansion.

Competitive Analysis:

Key players in the aortic aneurysm market are actively involved in research, product development, and collaborations to enhance their market presence. Some notable developments include:
• In March 2021, Cook Medical, Inc. received FDA breakthrough device designation for Zenith Fenestrated+ Endovascular Graft (ZFEN+), used in treating intravascular AA.
• Endologix LLC is expanding its geographical presence by selling EVAR products in multiple countries, including the U.S., Canada, New Zealand, South Korea, and Europe.

Key Companies Profiled:
• Medtronic
• Endologix LLC
• Gore Medical
• MicroPort Scientific Corporation
• Cook
• JOTEC
• Cardinal Health
• Terumo Corporation
• Lombard Medical
• AbbVie Inc.

Key Segments Profiled in the Aortic Aneurysm Industry Survey

Aortic Aneurysm by Type
• Aortic Aneurysm by Thoracic Aortic Aneurysm (TAA)
• Aortic Aneurysm by Abdominal Aortic Aneurysm (AAA)

Aortic Aneurysm Treatment
• Aortic Aneurysm by Open Surgical Repair (OSR)
• Aortic Aneurysm by Endovascular Aneurysm Repair (EVAR)

Aortic Aneurysm Product
• Aortic Aneurysm by Stent Grafts
• Aortic Aneurysm by Catheters

Aortic Aneurysm End User
• Aortic Aneurysm by Hospitals
• Aortic Aneurysm by Ambulatory Surgery Centers
• Aortic Aneurysm by Clinics

Aortic Aneurysm Region
• North America Aortic Aneurysm Market
• Latin America Aortic Aneurysm Market
• Europe Aortic Aneurysm Market
• Asia Pacific Aortic Aneurysm Market
• Middle East & Africa Aortic Aneurysm Market

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