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Aortic Aneurysm Market

Market Study on Aortic Aneurysm Market - Rising patient pool increasing demand for treatment

Aortic Aneurysm Market Segmented by Aortic Aneurysm by Thoracic Aortic Aneurysm (TAA), Aortic Aneurysm by Abdominal Aortic Aneurysm (AAA) type, treatment by Aortic Aneurysm by Open Surgical Repair (OSR), Aortic Aneurysm by Endovascular Aneurysm Repair (EVAR) in North America, Europe, Middle East and Asia Pacific Regions

Aortic Aneurysm Market Snapshot (2022-2032)

The global aortic aneurysm market garnered a market value of US$ 3.34 Billion in 2022 and is expected to accumulate a market value of US$ 9.93 Billion by registering a CAGR of 11% in the forecast period 2022-2032. The market for aortic aneurysm accumulated a market value of US$ 3 Billion in 2021.

Growth of the aortic aneurysm market can be attributed to the increasing prevalence of atherosclerosis and the rising geriatric population are major factors driving the market. In addition, the rising demand for minimally invasive procedures and favorable health reimbursement are augmenting the growth.

Report Attribute

Details

Expected Market Value (2022)

US$ 3.34 Billion

Anticipated Forecast Value (2032)

US$ 9.93 Billion

Projected Growth Rate (2022-2032)

11% CAGR

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Which are Some Factors Propelling Growth of Aortic Aneurysm Market?

Increasing Geriatric Population driving growth of Aortic Aneurysm Market

Increasing cases of cardiovascular diseases, rapid adoption of sedentary lifestyles, and unhealthy eating habits are raising the cases of AA across the globe. The rising geriatric population is also adding to the patient pool. According to the U.S. Department of Health and Human Services, this population group in the U.S. was 54 Billion in 2019, which is almost 16% of the total population. Moreover, this number is projected to reach 80.8 Billion by 2040 and 94.7 Billion by 2060.

Thus, the rapidly aging population is expected to increase the overall number of AA repair procedures in the next 5 years. All those above 65 years are at a higher risk of developing aortic aneurysms as the walls of the aorta weaken by this age; the risk also increases due to other cardiovascular diseases.

Increase in smoking contributing to growth of Aortic Aneurysm Market

Smoking significantly increases the risk of developing aortic aneurysms. According to the WHO, around 22.3% of the world population used tobacco in 2020. The US Preventive Services Task Force considered smoking a major risk factor associated with AAA among men aged 65 to 75 years who have ever smoked.

Continued smoking in individuals with an AAA is associated with both increased rates of expansion and the risk of rupture. Smoking is likely to increase the risk of perioperative death and late mortality among patients who are undergoing surgical AA repair.

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What are the Challenges Faced by the Aortic Aneurysm Market?

Lack of awareness among people along with the inflated cost associated with aortic aneurysm associated with the treatment id hampering the growth of the market. In addition, complications related with aortic aneurysm such as iliac perforation, stent stenosis, endoleaks and end tension.

Although, healthcare professionals are developing technology to reduce problems, desired results have not been achieved so far. All these factors are hampering the growth of aortic aneurysm market.

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Comparative View of Adjacent Aortic Aneurysm Market

Attributes

Aortic Aneurysm Market

CAGR (2022-2032)

11%

Market Value (2032)

US$ 9.93 Billion

Growth Factor

Increase in geriatric population along with growth in smoking is expected to drive the market in the forecast period.

Opportunity

Development of minimally invasive surgeries is expected to offer lucrative opportunities to the market.

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Comparative View of Adjacent Intra-Aortic Balloon Pump Market

Attributes

Intra-Aortic Balloon Pump Market

CAGR (2022-2032)

2.7%

Market Value (2032)

US$ 472 Million

Growth Factor

The use of intra-aortic balloon pump during cardiogenic shock is expected to drive the market in the assessment period.

Opportunity

Increasing acceptance of intra-aortic balloon pump in the treatment of the disorders are expected to offer lucrative opportunities to the market.

Comparative View of Adjacent Transcatheter Heart Valve Replacement Market

Attributes

Transcatheter Heart Valve Replacement Market

CAGR (2022-2032)

13.9%

Market Value (2032)

US$ 6720.03 Million

Growth Factor

Rising demand for less invasive procedure for high risk patients, growing prevalence of mitral regurgitation and severe aortic stenosis disorder are expected to drive the market in the forecast period.

Opportunity

Shorter recovery time, less stay in the hospitals, favorable outcomes with transcatheter prosthetic valve implantation and technological advancements are driving adoption of transcatheter heart valve devices.

Traditionally existing surgical procedures are slowly being replaced by minimally invasive surgeries such as EVAR in most advanced countries such as the U.S., the U.K., and Japan. Traditional surgery requires an incision to access the internal body parts for operation, which require high precision, deep concentration, and expertise in surgical operations.

However, the advantages of minimally invasive procedures include less blood loss, limited to no scarring, smaller incisions, and shorter hospital stays with faster recovery times, often with better outcomes. Thus, increasing demand for minimally invasive EAVR procedures is favoring market growth.

Which are the Key Regions in the Aortic Aneurysm Market?

Regions

CAGR

United States

9%

U.K

8%

China

10%

Japan

7.5%

India

6.3%

Regional Insights

Technological Advancements Making Surgeries Minimally Invasive for Aortic Aneurysm in North America?

Rapid technological advancements, a shift toward minimally invasive procedures, and the rising incidence of AA. The Screening Abdominal Aortic Aneurysms Very Efficiently (SAVE) Act enforced by the U.S. government in 2014 offers one free AAA screening for men who have smoked at least once in their life and women with a family history of the condition.

Moreover, high reimbursements offered by the governments are aiding the overall market growth. For instance, Medicare in the U.S. covers one abdominal aortic ultrasound for patients at risk. Thus, North America is expected to possess 47% market share for aortic aneurysm market in 2022.

High Prevalence of atherosclerosis Driving Growth of Aortic Aneurysm Market in Europe?

Europe is anticipated to account for a significant share during the forecast period due to technological advancements and the high prevalence of atherosclerosis. International organizations such as the National Health Service (NHS) are working toward reducing the incidence of aortic aneurysms.

For instance, the Public Health England screening program by the NHS in Europe is a national population screening program that helps identify healthy people who may be at risk of developing an aortic aneurysm. This, in turn, enables early treatment and informed decisions. Thus, Europe is expected to hold 30% market share for aortic aneurysm market in 2022.

Growth in Patient Pool for Aortic Aneurysm Creating Opportunities for Treatment in Asia Pacific?

Asia Pacific is expected to witness remarkable growth during the forecast period on account of the rising aging population, the prevalence of cardiovascular diseases and hypertension, and growing disposable income.

The Asian Development Bank (ADB) estimates that one in four Asians and Pacificians will be over 60 by 2050. Between 2010 and 2050, the number of older people in the region will triple, reaching about 1.3 billion. Thus, the presence of a sizeable aging population is favoring the growth of the market in the Asia Pacific. Thus, Asia Pacific is expected to possess 24% market share for aortic aneurysm market in 2022.

Category-Wise Insights

Increasing Occurrence of Diseases in the Geriatric Population Making AAA the Dominant Category?

AAA occurs more commonly in the lower abdomen and most cases of AAA occur either under the kidney or in the pararenal portion of the lower abdomen. Overall, the number of repairs performed is much higher for sub renal and pararenal aneurysms than for TAA.

According to an article published in the journal Circulation, around 2.5% of adults over the age of 65 have AAA. On the other hand, TAA only occurs 4.5% to 5.9% per 100,000 person-years. Robust R&D and strong government support for product approvals are propelling the segment growth. Thus, abdominal aortic aneurysm segment is expected to dominate the market in 2022 by possessing a revenue share of over 70%

Minimally Invasive Treatments Favoring Growth of TAA in Upcoming Years?

The steady growth of the TAA segment can be attributed to the low incidence of TAA and the unavailability of advanced devices for its management by endovascular methods. However, with the increasing acceptance of minimally invasive techniques worldwide, coupled with technological advancement to reduce longer hospital stays and the overall treatment cost, this segment is anticipated to gain momentum in the coming years.

Launch of Advanced Stent Systems Shaping Landscape for Stent Grafts?

Technological advances in stent-graft design are projected to render substantial growth to the segment during the forecast period. For instance, advanced stent graft systems are being launched with inbuilt imaging and delivery catheter. These devices can be used in situations such as aneurysms and major vascular injuries. Based on the product, the market is bifurcated into stent grafts and catheters.

Nellix and Ovation Stent Grafts are a new generation of prostheses that use polymer technology to treat abdominal aortic aneurysms. CT scans can be done postoperatively. The benefits of stent-grafted intravascular repair continue to fuel the growth of the segment. Thus, the stent grafts segment is expected to account for 85% market share in 2022.

Technological Advancements to Reduce Hospital Stays Increasing Dependency on EVAR Treatments?

Based on treatment, the market is divided into open surgical repair (OSR) and endovascular aneurysm repair (EVAR). Increasing acceptance of endovascular treatment worldwide, technological advancement to reduce hospital stays, and the overall morbidity associated with aortic aneurysm repair are primary factors contributing to the growth of the segment.

According to Endologix, out of the total procedures performed in the U.S., in 2017, 75% of them were EAVR. In addition, new product launches are anticipated to propel the growth of the segment. The EVAR segment is expected to hold 70% market share for aortic aneurysm market in 2022.

Low Cost of OSR Creating Lucrative Opportunities for Treatments?

The Open Surgical Repair (OSR) segment is estimated to witness moderate growth over the forecast period. Open repair is preferred for treating simple and uncomplicated cases in low-risk patients and for many anatomies of TAA where very limited endovascular options are available. In the emerging economies of Asia, Latin America, and the Middle East, open repair is still considered the method of choice owing to the low cost and unavailability of advanced technology.

Ease of Treatment Making Hospitals a Popular Choice for Aortic Aneurysm Treatment?

Hospitals are the most preferred setting by physicians and vascular surgeons, particularly in developing countries. The elaborate setup in hospitals enables treating complex cases that cannot be managed in ASCs. Along with this, favoring reimbursement policies are expected to drive the segment.

Key players like Terumo Corporation, Medtronic, Endologix LLC, Microport Scientific Corporation, and Cook are mainly targeting hospitals for the distribution of their advanced stent graft systems and other AA repair devices. For instance, Microport distributes around 200 approved products in more than 5,000 hospitals across 80 countries. Thus, hospitals are expected to hold 75% market share for aortic aneurysm market.

Shorter Hospitals Stays Driving Growth of Ambulatory Surgery Centers?

Ambulatory surgery centers are anticipated to witness remarkable growth during the forecast period. This is due to the advantages provided by the ASCs such as shorter hospital stays and lower overall treatment costs. ASC is further expected to grow due to the increased prevalence of AA, particularly in industrialized nations, and the necessity for rapid treatment.

Market Competition

Key players in the aortic aneurysm market are focusing on undertaling research, developing required products and getting the same approved from the FDA. In addition, companies are expanding outreach by collaborating and merging with end suer industries

  • In March 2021, Cook Medical, Inc. received the U.S. FDA breakthrough device designation for Zenith Fenestrated+ Endovascular Graft (ZFEN+). It is used for treating intravascular AA.
  • Endologix LLC sells its EVAR products to hospitals in the U.S., Canada, New Zealand, South Korea, and Europe. Through this, the company is focusing on increasing its geographical presence.

Report Scope

Attributes

Details

Forecast Period

2022-2032

Historical Data Available For

2015-2021

Market Analysis

US$ Bn for Value

Key Countries Covered

  • U.S.
  • Canada
  • Mexico
  • Brazil
  • Germany
  • Italy
  • France
  • U.K.
  • BENELUX
  • Nordics
  • China
  • Japan
  • South Korea
  • GCC Countries
  • South Africa
  • Turkey

By Market Segments

  • Type
  • Treatment
  • Product
  • End-User
  • Region

Key Companies Profiled

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

Pricing

Available Upon Request

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

- Companies Covered in This Report -

  • Medtronic
  • Endologix LLC
  • Gore Medical
  • MicroPort Scientific Corporation
  • Cook
  • JOTEC
  • Cardinal Health
  • Terumo Corporation
  • Lombard Medical
  • AbbVie Inc

- Frequently Asked Questions -

The global aortic aneurysm market is estimated at a 11% growth rate during the forecast period of 2022-2032

The global aortic aneurysm market is expected to garner US$ 9.93 Billion by 2032

U.S is expected to register a CAGR of 9% from 2022-2032.

India is expected to register 6.3% CAGR in the forecast period

The global aortic aneurysm market was estimated at US$ 3 Billion in 2021

Abdominal aortic aneurysm segment is expected to dominate the market in 2022 by possessing a revenue share of over 70%.

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