Aortic Aneurysm Market Size, Share, Global Growth 2021, by Manufacturers, Regions, Application and Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for Aortic Aneurysm Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Aortic Aneurysm Market products.

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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.

Aortic aneurysm is a condition in which the aortic wall is enlarged at a certain point, which leads to rupturing of the artery resulting in internal bleeding. Abdominal aortic aneurysm (AAA) and thoracic aortic aneurysm (TAA) are the two types of aneurysms based on the location of the aneurysm. The first AAA surgical procedure was performed in 1991 and since then there has been an evolution in the treatment of stent grafts. Montenegro, Armenia, and New Zealand were the top three regions with highest mortality rate in 2013.
The increasing lifestyle diseases and smoking population are the factors that increase the chances for aortic aneurysm. Along with this, the growing aging population, favorable reimbursement, and technological advancements in products are driving the growth of the aortic aneurysm market. However, lack of awareness about the disease, stringent regulatory approval procedures, and risk associated with the procedure are hampering the growth of the market. The main unmet need in the market is endoleaking, which increases the mortality rate.

Currently, the market players are developing technologically advanced stent grafts for the treatment of complex aortic aneurysm repairs. The EVAR segment contributed more than 70% of the total market share in 2016. A major focus in this segment is expected to drive the growth of the aortic aneurysm market in the future.
Market Analysis: The Global Aortic Aneurysm Market is estimated to witness a CAGR of 6.6% during the forecast period 2017–2023. The aortic aneurysm market is analyzed based on three segments – type, product types, and regions.
Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). North America is set to be the leading region for the aortic aneurysm market growth followed by Europe. Asia Pacific and ROW are set to be the emerging regions. Japan is the second standalone market after the US growing with a double digit CAGR.

Analysis by Types: The aortic aneurysm market is segmented into AAA and TAA. AAA occupies the major share in the market with EVAR being the most adopted AAA procedure. TAA is the fastest growing segment in the market. This is due to the technological advancements and the increasing awareness of the condition among the patients globally.
Analysis by Product Types: Based on products, the market is segmented as stent grafts, catheters, and other accessories. The stent grafts segment held the major share in 2016, and is expected to grow at a rate of 6.75% during the forecast period. Among the types of stent grafts, AAA stent grafts held a major share in 2016, and the rest of the market is held by TAA stent grafts.

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Key Players: Cook Medical’s Medtronic PLC, W.L.Gore & Associates, MicroPort Scientific Corporation, Terumo Corporation, Endologix, Jotec GmbH, Boston Scientific Corporation, and other predominant and niche players.

Competitive Analysis: The market of aortic aneurysm is dominated by Cook Medical, Medtronic PLC, and W.L. Gore and Associates, who occupy around 85% of the market share. Other small players are adopting various strategies to increase their market share. Endologix acquired Trivascular to expand its product portfolio, thereby being able to address the current and future needs in the aortic aneurysm market.
In countries such as Australia, Germany, the US, and Switzerland, who have fee-for-service reimbursement system, the proportion undergoing AAA repair is higher compared with countries, such as Iceland, Sweden, Denmark, New Zealand, Hungary and Norway, who have a population-based reimbursement model.

Benefits: The report provides complete details about the usage and adoption rate of aortic aneurysm repair devices in various verticals and regions. These help the key stakeholders to know about the major trends, drivers, investments, and vertical player’s initiatives in the upcoming years. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in specific verticals, and to analyze before investing or expanding the business in this market.

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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled

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