Aortic Repair Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Aortic Repair Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The aortic repair devices market is expected to augment with an anticipated CAGR of 5.5%, during the forecast period (2022-2027).

The outbreak of COVID-19 had a negative impact on the vascular grafts market due to the disruption in operations, supply chains, distribution systems, etc. Also, many elective procedures were canceled or postponed to control the spread of coronavirus. For instance, according to a research study published in March 2022, titled “The Effect of COVID-19 on Adult Cardiac Surgery in the United States in 717,103 Patients”, it was concluded that there was a 52.7% reduction in adult cardiac surgery volume and a 65.5% reduction in elective cases, which indicates the negative impact of COVID-19 on the cardiac surgical procedures. However, a research study published in April 2021, titled "ACE2 is an Adjacent Element of Atherosclerosis and COVID-19 Pathogenesis," stated that COVID-19 could increase the development of atherosclerosis due to ACE2, which is also a receptor for the SARS-CoV-2 virus and thus, the long term effect of COVID-19 on the human body may increase the prevalence of atherosclerosis and other cardiac diseases which may have a positive impact on the studied market’s growth. Further, with the decreasing COVID-19 cases and large-scale vaccination programs worldwide, the coronary stent market is expected to regain its full potential over the forecast period.

The major factors accounting for the growth of the aortic repair devices market are an increase in the number of endovascular procedures, growing innovations and advancements in technology, and an increasing preference for stent grafts for aortic repair during the forecast period.

The primary factor expected to fuel growth in the aortic repair devices market is the rising prevalence of coronary artery diseases (CADs), which occurs when there is a buildup of plaque in the artery, driving the demand for percutaneous coronary intervention procedures requiring stents. For instance, according to the research study published in May 2020, titled “Global and regional prevalence, burden, and risk factors for carotid atherosclerosis: a systematic review, meta-analysis, and modeling study,” overall, the prevalence of increased carotid intima-media thickness in people aged 30-79 years in 2020, was estimated to be 27.6%, which translates to 1,066.70 million affected people and represents a change in percentage of 57.46% from 2000. Further, per the same source, the estimated prevalence of carotid plaque was 21.1% in 2020, with about 815.76 million affected people and a percentage change of 58.97% from 2000. This data shows a high and increasing prevalence of coronary artery diseases which is expected to drive the demand for stents for treatment. Also, the increasing prevalence of CAD risk factors such as older age, hypertension, diabetes, and others are further expected to complement the growth of the studied market over the forecast period. Thus, the studied market is expected to grow during the forecast period of the study.

Moreover, according to the research study published in December 2021, titled 'Cardiovascular disease (CVD) and its associated risk factors among older adults in India: Evidence from LASI Wave 1', for older persons of age 45 and over, the overall self-reported prevalence of diagnosed cardiovascular diseases (CVDs) was 29.4%. The prevalence rate rose with age, from 22% in the 45–54 age group to 38% in the 70+ age group, which shows that the senior population is at high risk of having CVDs, which is expected to have a positive impact on the studied market. Further, according to the World Population Ageing Highlight 2020 report by the United Nations, the global geriatric population is increasing rapidly worldwide. In 2020, about 727 million people of age 65 years or more were living across the globe. It is projected that the population of people of age 65 years or more will be about 1.5 billion people by 2050. Thus, the growing global geriatric population is expected to increase the demand for aortic repair procedures and propel the studied market towards growth.

However, a lack in the availability of certain devices in the various developing regions and complicated post-procedure requirements such as re-intervention of patients in some cases through endovascular aortic repair is likely to impede the studied market growth over the forecast period.

Key Market TrendsEndovascular Aneurysm Repair Segment Dominates the Market and the Trend is Expected to be Same During the Forecast Period.

Endovascular procedures are preferred over open surgeries due to the benefits such as minimally invasive, a short stay in the hospital, and patient compliance. The growing geriatric population in which open repair procedures are not recommendable, demands the use of Endovascular procedures. Also, the continuous growth of Cardiovascular diseases drives the growth of the endovascular aneurysm repair segment during the forecast period.

The growing burden of cardiovascular disorders (CVDs) is leading to a growing number of electrocardiography procedures. 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. People suffering from cardiovascular diseases or those who are at high cardiovascular risk need early detection and intervention to avoid fatal consequences. Such statistics reflect the growing demand for endovascular aneurysm repair devices, thereby contributing to the growth of the segment over the forecast period.

Thus, the segment is anticipated to witness significant growth over the forecast period due to the abovementioned factors.

North America Dominates the Market and the Same is Expected Over the Forecast Period.

North America is expected to dominate the overall market, throughout the forecast period. Factors such as changing lifestyles, advancements in technology, and affordability of minimally invasive procedures for the effective management of cardiovascular diseases in developed countries are responsible for the growth of the market. Moreover, the high demand for technologically advanced medical devices is expected to propel market growth in the region.

The major factor driving the market is the rising global burden of various coronary heart diseases, such as stroke and cardiomyopathy, which cause a global burden of cardiac-related deaths. As per a report by the United States Centers for Disease Control (CDC), statistics updated in 2021, every 40 seconds, an American may have a heart attack. Moreover, as per a February 2022 published update by the Centers for Disease Control and Prevention (CDC), in 2020, the percentage of adults diagnosed with coronary heart disease was 4.6% in the United States. This scenario leads to a higher demand for aortic repair devices for better treatment, which will drive the market in the United States.

Furthermore, supportive awareness initiatives for disease awareness are projected to support the market for cardiovascular devices in North America. For instance, in February 2020, Mexico joined the HEARTS initiative to strengthen primary healthcare for CVD. Promoted by the Pan American Health Organization/ World Health Organization (PAHO/WHO), the initiative aims to improve the prevention and control of hypertension at the primary care level.

Thus, owing to the abovementioned factors, the North American region is expected to show lucrative growth over the forecast period.

Competitive Landscape

The Aortic Repair Devices market is moderately competitive and consists of several major players. With increasing consolidations of various organizations such as Vascutek and Bolton Medical Merge as Terumo Aortic, it is expected to generate the competitive rivalry among the key players in future. Some of the major players of the market are Terumo Aortic, Cardiatis, Cook Medical, Inc, Endologix Inc, etc.,

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