Global Abdominal Aortic Aneurysm Market Overview
Abdominal Aortic Aneurysm Market Size was estimated at 1.47 (USD Billion) in 2022. The Abdominal Aortic Aneurysm Market Industry is expected to grow from 1.53 (USD Billion) in 2023 to 2.2 (USD Billion) by 2032. The Abdominal Aortic Aneurysm Market CAGR (growth rate) is expected to be around 4.13% during the forecast period (2024 - 2032).
Key Abdominal Aortic Aneurysm Market Trends Highlighted
The increasing prevalence of cardiovascular diseases, coupled with the aging population, is fueling the demand for abdominal aortic aneurysm (AAA) treatments. Advancements in endovascular repair techniques, such as fenestrated and branched endograft, are expanding treatment options and improving patient outcomes.
The rising adoption of minimally invasive procedures is driving market growth, as they offer reduced recovery time and complications compared to traditional open surgery.
Additionally, the availability of advanced imaging technologies, such as computed tomography angiography (CTA), is enhancing the diagnosis and monitoring of AAA, leading to earlier detection and timely intervention.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Abdominal Aortic Aneurysm Market Drivers
Technological Advancements in Diagnosis and Treatment
Advancements in medical imaging techniques, such as computed tomography angiography (CTA) and magnetic resonance imaging (MRI), have significantly improved the accuracy and speed of AAA diagnosis. These technologies allow for detailed visualization of the aorta, enabling physicians to detect and characterize aneurysms more precisely.
Additionally, the development of endovascular repair techniques, such as endovascular aneurysm repair (EVAR) and thoracic endovascular aortic repair (TEVAR), has revolutionized AAA treatment.
These minimally invasive procedures involve inserting a stent graft into the aorta to reinforce the weakened area and prevent rupture. The adoption of these advanced technologies is expected to continue driving the growth of the Abdominal Aortic Aneurysm Market Industry as they improve patient outcomes and reduce the risk of complications.
Rising Prevalence of Risk Factors
The prevalence of risk factors associated with AAA, such as smoking, hypertension, and hyperlipidemia, is on the rise globally. These factors contribute to the weakening of the aortic wall, increasing the likelihood of aneurysm formation. The growing incidence of these risk factors is expected to fuel the demand for AAA screening and treatment, thereby driving market expansion.
Increasing Awareness and Screening Programs
Increased awareness about AAA and the availability of effective screening programs have led to a surge in the number of individuals undergoing screening tests. This has resulted in the early detection and treatment of aneurysms, improving patient outcomes and reducing the risk of rupture.
Furthermore, government initiatives and public health campaigns aimed at promoting AAA awareness and screening are expected to contribute to the growth of the Abdominal Aortic Aneurysm Market Industry.
Abdominal Aortic Aneurysm Market Segment Insights
Abdominal Aortic Aneurysm Market Procedure Type Insights
The Abdominal Aortic Aneurysm Market is segmented based on procedure type into Open Abdominal Aortic Aneurysm Repair (AAA Repair), Endovascular Abdominal Aortic Aneurysm Repair (EVAR), and Other Procedure Types.
Among these, the EVAR segment held the largest market share in 2023, owing to its minimally invasive nature and lower risk of complications compared to open repair. EVAR involves accessing the aneurysm through a small incision in the groin and deploying a stent graft to reinforce the weakened aortic wall.
This procedure has gained popularity due to its shorter recovery time, reduced pain, and lower risk of bleeding and infection.
The Open AAA Repair segment, on the other hand, is anticipated to witness a steady growth rate during the forecast period. This technique involves making a large incision in the abdomen to directly access and repair the aneurysm. While open repair is considered the traditional approach, it is associated with higher risks of complications and a longer recovery period.
However, it remains the preferred option for complex aneurysms or in cases where EVAR is not feasible. Other Procedure Types include laparoscopic and robotic-assisted aneurysm repairs, which are less invasive than open repair but more technically demanding.
These techniques offer advantages such as smaller incisions, reduced blood loss, and faster recovery time compared to open repair. As technology advances and surgical expertise improves, the adoption of laparoscopic and robotic-assisted procedures is expected to increase in the future.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Abdominal Aortic Aneurysm Market Device Type Insights
Stents, stent grafts, balloon expandable stents, and other device types are the four main categories of devices used to treat abdominal aortic aneurysms. Stents are small, expandable devices that are inserted into the aorta to reinforce the weakened area and prevent it from rupturing.
Stent grafts are similar to stents, but they also have a fabric covering that helps to seal the aneurysm and prevent blood from leaking. Balloon expandable stents are a newer type of stent that is inserted into the aorta and then inflated to expand and reinforce the weakened area.
The market growth is attributed to the increasing prevalence of abdominal aortic aneurysms, the growing adoption of minimally invasive endovascular procedures, and the rising demand for advanced medical devices.
The stent grafts segment is expected to hold the largest market share during the forecast period. This is due to the high prevalence of abdominal aortic aneurysms in the elderly population, the growing adoption of endovascular procedures, and the increasing availability of advanced stent grafts.
The balloon expandable stents segment is expected to grow at a faster rate than the other segments during the forecast period.
This is due to the increasing adoption of balloon expandable stents in complex and challenging aortic anatomies, the growing demand for less invasive procedures, and the increasing availability of innovative balloon expandable stents.
Abdominal Aortic Aneurysm Market Application Insights
The Application segment of the Abdominal Aortic Aneurysm Market is segmented into Small AAA (5.5cm), Medium AAA (5.5-6.9cm), Large AAA (7cm), Ruptured AAA, and Other Applications. The Small AAA segment held the largest market share in 2023, and it is expected to continue to dominate the market during the forecast period.
The growth of this segment can be attributed to the increasing prevalence of small AAA, which is often asymptomatic and goes undetected until it becomes larger or ruptures. The Medium AAA segment is expected to witness significant growth during the forecast period, owing to the increasing adoption of endovascular repair techniques for the treatment of medium-sized AAA.
The Large AAA segment is expected to account for a significant share of the market in 2023, and it is expected to continue to grow during the forecast period. The growth of this segment can be attributed to the increasing prevalence of large AAA, which is associated with a higher risk of rupture and mortality.
The Ruptured AAA segment is expected to witness moderate growth during the forecast period, owing to the increasing adoption of early detection and treatment strategies for AAA. The Other Applications segment is expected to account for a small share of the market in 2023, and it is expected to continue to grow during the forecast period.
The growth of this segment can be attributed to the increasing adoption of new and emerging technologies for the treatment of AAA.
Abdominal Aortic Aneurysm Market End User Insights
The Abdominal Aortic Aneurysm Market is segmented based on End Users into Hospitals, Surgical Centers, Ambulatory Surgery Centers, and Other End Users. Among these segments, Hospitals held the largest market share in 2023, accounting for approximately 60% of the Abdominal Aortic Aneurysm Market revenue.
The growth of this segment can be attributed to the increasing number of patients undergoing AAA repair procedures in hospitals, as well as the availability of advanced medical facilities and skilled healthcare professionals.
Surgical Centers are expected to witness a significant growth rate during the forecast period, owing to the increasing number of minimally invasive AAA repair procedures being performed in these centers. Ambulatory Surgery Centers are also expected to contribute to the growth of the Abdominal Aortic Aneurysm Market, as they offer cost-effective and convenient treatment options for patients. Other End Users, such as clinics and private healthcare providers, are expected to account for a small but growing share of the market.
Abdominal Aortic Aneurysm Market Material Insights
The Material segment of the Abdominal Aortic Aneurysm Market is segmented into Polyester, Polytetrafluoroethylene (PTFE), Polyethylene Terephthalate (PET), and Other Materials. Polyester holds the largest share of the market due to its high strength, durability, and biocompatibility.
PTFE is a fluoropolymer that is resistant to heat, chemicals, and wear. PET is a thermoplastic polymer that is used in a variety of medical applications. Other materials used in abdominal aortic aneurysm repair include polypropylene, polyurethane, and silicone.
Abdominal Aortic Aneurysm Market Regional Insights
The Abdominal Aortic Aneurysm Market is segmented by region into North America, Europe, APAC, South America, and MEA. North America is expected to hold the largest market share in 2023, owing to factors such as the high prevalence of AAA, favorable reimbursement policies, and advanced healthcare infrastructure.
The European market is expected to witness steady growth due to increasing awareness about AAA, technological advancements, and government initiatives. The APAC market is anticipated to grow at a significant pace, driven by the rising geriatric population, increasing prevalence of cardiovascular diseases, and improving healthcare infrastructure.South America and MEA are also expected to contribute to the overall market growth, albeit at a slower pace.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Abdominal Aortic Aneurysm Market Key Players and Competitive Insights
Major players in the Abdominal Aortic Aneurysm Market are actively engaged in strategic collaborations to strengthen their market presence and expand their product portfolios.
For instance, in June 2022, Medtronic plc and Cardiva Medical, Inc. announced a distribution agreement to commercialize the latter's Aorfix device, a sutureless aortic valve. Such partnerships enable companies to leverage complementary strengths and gain access to new markets and technologies.
Leading Abdominal Aortic Aneurysm Market players are continuously investing in research and development to introduce innovative products and technologies. This focus on innovation drives technological advancements and improves patient outcomes.
For example, in October 2022, Terumo Aortic launched the RelayPro proximal stent graft system, designed to provide a conformable and customized fit for complex aortic anatomies. Ongoing advancements in endovascular repair techniques and materials contribute to the growth of the Abdominal Aortic Aneurysm Market.
The Abdominal Aortic Aneurysm Market industry is characterized by a competitive landscape with a mix of established and emerging players. Key industry participants include Medtronic plc, Cook Medical, Terumo Aortic, W. L. Gore Associates, Inc., and Endologix, Inc.
These companies hold significant market shares and are actively engaged in product development, clinical trials, and strategic partnerships to maintain their competitive edge.
Key Companies in the Abdominal Aortic Aneurysm Market Include
- Johnson Johnson MedTech
- Getinge AB
- Abbott
- Braun Melsungen
- Stryker
- Atrium Medical
- Gore Medical
- Cook Medical
- Terumo Aortic
- Medtronic
- Edwards Lifesciences
- MicroPort CR Bard
- Beijing SunMed International Medical
- Bolton Medical
- LeMaitre Vascular
Abdominal Aortic Aneurysm Market Industry Developments
The increasing prevalence of AAA, rising awareness about the condition, and technological advancements in endovascular repair procedures drive market growth.
Recent news developments include the FDA approval of Medtronic's Endurant II AAA stent graft system, designed to treat complex aortic anatomies. Additionally, Cook Medical received CE Mark approval for its Zenith Alpha Aortic Stent Graft System, offering a conformable and low-profile design.
Current affairs include research focusing on personalized treatment strategies, such as patient-specific computational modeling to optimize endovascular repair outcomes. Collaboration between industry players and research institutions is also on the rise, aiming to develop innovative devices and improve patient care.
Abdominal Aortic Aneurysm Market Segmentation Insights
Abdominal Aortic Aneurysm Market Procedure Type Outlook
- Open Abdominal Aortic Aneurysm Repair (AAA Repair)
- Endovascular Abdominal Aortic Aneurysm Repair (EVAR)
- Other Procedure Types
Abdominal Aortic Aneurysm Market Device Type Outlook
- Stents
- Stent Grafts
- Balloon Expandable Stents
- Other Device Types
Abdominal Aortic Aneurysm Market Application Outlook
- Small AAA (5.5cm)
- Medium AAA (5.5-6.9cm)
- Large AAA (7cm)
- Ruptured AAA
- Other Applications
Abdominal Aortic Aneurysm Market End User Outlook
- Hospitals
- Surgical Centers
- Ambulatory Surgery Centers
- Other End Users
Abdominal Aortic Aneurysm Market Material Outlook
- Polyester
- Polytetrafluoroethylene (PTFE)
- Polyethylene Terephthalate (PET)
- Other Materials
Abdominal Aortic Aneurysm Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
Abdominal Aortic Aneurysm Market Report Scope
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1.47(USD Billion) |
| Market Size 2023 |
1.53(USD Billion) |
| Market Size 2032 |
2.2(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.13% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Johnson Johnson MedTech, Getinge AB, Abbott, B. Braun Melsungen, Stryker, Atrium Medical, Gore Medical, Cook Medical, Terumo Aortic, Medtronic, Edwards Lifesciences, MicroPort CR Bard, Beijing SunMed International Medical, Bolton Medical, LeMaitre Vascular |
| Segments Covered |
Procedure Type, Device Type, Application, End User, Material, Regional |
| Key Market Opportunities |
Targeted Drug Therapies Minimally Invasive Devices Growing Patient Pool New Diagnostic Modalities Digital Health Solutions |
| Key Market Dynamics |
Rising prevalence of AAA Technological advancements Increasing geriatric population |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Abdominal Aortic Aneurysm market size is expected to reach USD 2.2 billion by 2032, exhibiting a CAGR of 4.13% during the forecast period (2024-2032).
North America dominated the market, accounting for the largest revenue share of 45.2% in 2023.
Rising prevalence of abdominal aortic aneurysms, increasing geriatric population, and technological advancements in endovascular repair procedures are major factors driving market growth.
Abdominal Aortic Aneurysm devices are primarily used for the treatment of abdominal aortic aneurysms, which are localized enlargements of the abdominal aorta.
Key competitors include Medtronic, Abbott, Gore Medical, Cook Medical, and Terumo.
The Abdominal Aortic Aneurysm market is projected to grow at a CAGR of 4.13% from 2024 to 2032.
Asia Pacific is anticipated to register the highest growth rate during the forecast period due to rising healthcare expenditure and increasing prevalence of abdominal aortic aneurysms.
Challenges include stringent regulatory approvals, reimbursement issues, and the risk of complications associated with AAA repair procedures.
Advancements in endovascular repair techniques, personalized medicine, and minimally invasive approaches are emerging trends.
Technological advancements have led to the development of innovative devices and procedures, improving patient outcomes and driving market growth.
