Aortic Aneurysm Market Analysis

Global Aortic Aneurysm Market Overview

The Aortic Aneurysm Market Size was valued at USD 4.96 Billion in 2023. The global aortic aneurysm industry is projected to grow from USD 5.43 Billion in 2024 to USD 10.39 Billion by 2032, exhibiting a CAGR of 7.48% during the forecast period (2024 - 2032).

The increased frequency of atherosclerosis and the growing senior population are important market drivers. The increased frequency of atherosclerosis and the growing senior population are important market drivers. 

Furthermore, increased demand for less invasive procedures and favorable health reimbursement drive expansion. Increasing incidences of cardiovascular disease, quick adoption of sedentary lifestyles, and bad eating habits contribute to an increase in AA cases worldwide. The growing senior population adds to the patient pool. For instance, according to the United States Department of Health and Human Services, this population group in the United States numbered 54 million in 2019, accounting for over 16% of the total population. Furthermore, this figure is expected to rise to 80.8 million by 2040 and 94.7 million by 2060.

Therapeutic Solutions International (TSOI) declared in May 2023 the establishment of VasoSome Vascular Inc., a new spin-off company dedicated to utilizing exosomes derived from stem cells to treat aortic aneurysms, a "living timebomb" condition. VasoSome Vascular is currently undertaking IND-enabling tests and intends to submit an application to the FDA by the conclusion of 2023 in order to initiate a Phase I/II clinical trial. Citing clinical experiences with JadiCells and other stem cell products, the company conveyed assurance and stated that the domain of aortic aneurysms presents numerous opportunities for the application of regenerative medicine. The organization is committed to utilizing regenerative medicine to explore uncharted territories in numerous biological fields, with the primary goal of improving patient treatments and creating value for shareholders.

Endologix LLC, a privately held multinational medical device corporation committed to developing innovative therapies for the interventional management of vascular disease, announced today, June 2023, that the DETOUR System, a treatment for patients with complex peripheral arterial disease (PAD), has been granted approval by the FDA. Percutaneous Transmural Arterial Bypass (PTAB) is a revolutionary approach to treating complicated peripheral arterial disease (PAD) that utilizes stents inserted down the femoral vein to circumvent lesions in the superficial femoral artery and restore blood flow to the leg. Patients with large lesions (20cm-46cm in length), those who have experienced previous failures in endovascular procedures, or those who may not be suitable candidates for open surgical bypass can derive the greatest benefit from this approach.

COVID-19 Impact Analysis

The deferral of elective surgery to control the spread of COVID-19 had a substantial impact on market growth. According to the National Vascular Registry, the number of AAA repairs in the United Kingdom fell by 78.1% in April 2021 compared to pre-pandemic levels. Companies producing AA repair devices have resumed full operations following the pandemic. This aided the market's recovery by early 2022. ​

Aortic Aneurysm Market Trends

The market for the  market is expected to grow substantially throughout the projected period. In most advanced countries, such as the US, the UK, and Japan, traditional surgical techniques are gradually being replaced with minimally invasive surgeries such as EVAR. Traditional surgery necessitates an incision to access interior body components for surgery, which necessitates high precision, intense concentration, and surgical expertise. However, the benefits of minimally invasive operations include less blood loss, minimal to no scarring, smaller incisions, shorter hospital stays with faster recovery times, and often better outcomes. As a result, the rising demand for minimally invasive EAVR procedures is boosting the market growth. In the next five years, the growing aging population will likely increase the overall number of AA repair procedures.

Market Drivers

•   Technological developments and reimbursement for medical equipment will drive market expansion

Technological developments and reimbursement for medical equipment will drive market expansion. Furthermore, rising healthcare expenditure and rising R&D investment provide opportunities for market expansion. However, risks associated with surgical procedures and a stringent regulatory environment may stymie the abdominal aortic aneurysm industry. For instance, in the US, Medicare covers one abdominal aortic ultrasound for individuals who are at risk. Europe is predicted to account for a considerable market share throughout the projection period due to technological advancements and a high prevalence of atherosclerosis. The National Health Service (NHS) and the Food and Drug Administration (FDA) in the US are collaborating to lower the occurrence of aortic aneurysms.

Market Restraints

Lack of awareness and treatment availability is limiting the market's growth

Over the forecast period, the market's expansion would be hampered by a lack of knowledge and treatment availability. On the other hand, continuous technological advancements in endovascular surgical procedures are projected to drive market expansion in the future years.

market Opportunities:

• Aneurysms are repaired using revolutionary 3D technologies

Using computerized prediction models based on the patient's pre-operative X-ray and anatomy, surgeons increasingly rely on dynamic 3D picture overlays of the human body. The models enable surgeons to eliminate iodine contrast and associated risk to the kidneys, reduce radiation exposure during surgery, and save time on the operating table. This development opens up new market opportunities.

Aortic Aneurysm Market Segment Insights

Aortic Aneurysm Type Insights

The  aortic aneurysm market segmentation, by type, is abdominal aortic aneurysm (AAA) and thoracic aortic aneurysm (TAA). The integrated aortic aneurysm had more revenue share in the  aortic aneurysm market growth in 2021 due to the rising prevalence of the condition. An abdominal aortic aneurysm is more frequent in the lower abdomen, with most cases occurring either under the kidney or in the pararenal region of the lower abdomen. Abdominal aortic aneurysm affects around 2.5% of persons over the age of 65, according to a study published in the journal Circulation. Thoracic aortic aneurysm, on the other hand, occurs at a rate of 4.5% to 5.9% per 100,000 person-years. The highest growth of the thoracic aortic aneurysm (TAA) segment over the predicted period can be due to the low incidence of thoracic aortic aneurysm and the lack of modern devices for its endovascular management.

Aortic Aneurysm Product Insights

The  aortic aneurysm market segmentation, by product, is stent-grafts, catheters, and others. In 2021, the stent-grafts segment generated the most revenue. During the forecast period, technological developments in stent-graft design will drive the segment's growth. For example, improved stent graft systems with integrated imaging and delivery catheters are being introduced. These devices can be used to treat aneurysms and other serious vascular injuries. The market is divided into two categories: stent grafts and catheters. The catheter segment is anticipated to grow at the highest rate during the forecast period.

Aortic Aneurysm End User Insights

By end user, the market is segmented into hospitals & clinics, ambulatory surgery centers (ASCs), and others. The hospitals & clinics segment had the most revenue share in 2021 and is expected to register the fastest CAGR during the forecast period. Physicians and vascular surgeons regard hospitals as their preferred setting, particularly in underdeveloped nations. The extensive infrastructure in hospitals allows treating complex cases that cannot be handled in ASCs. Additionally, favorable reimbursement rules are projected to drive the industry.

Aortic Aneurysm Region Insights

By Region, the  aortic aneurysm market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North American region accounted for the most extensive market share. Europe will exhibit the highest CAGR during the forecast period.

North America

In 2021, North America had the highest revenue share of the  market due to quick technical development, a move toward less invasive procedures, and an increase in the prevalence of AA. The Test Abdominal Aortic Aneurysms Very Efficiently (SAVE) Act, enacted by the US government in 2014, provides one free AAA screening for men who have smoked at least once in their lives and women who have a family history of the condition. Furthermore, hefty government reimbursements are assisting overall industry growth. In the US, for example, Medicare provides one abdominal aortic ultrasound for at-risk patients.

Europe

During the forecast period, Europe is expected to have the greatest CAGR. Due to technological improvements and the high prevalence of atherosclerosis, Europe is expected to account for a sizable proportion during the projection period. The National Health Service (NHS) and other international organizations aim to reduce the prevalence of aortic aneurysms. For example, the NHS in Europe's Public Health England screening program is a national population screening program that helps identify healthy people who may be at risk of developing an aortic aneurysm. As a result, early treatment and informed decisions are possible.

Aortic Aneurysm Market Competitive Landscape

The market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have  reach with diverse product portfolios. Companies such as AbbVie Inc. (US), Terumo Corporation (Japan), R. Bard Inc. (US), and Medtronic Plc. (US), Carditis S.A. (Belgium) dominates the  market due to product differentiation, financial stability, strategic developments, and diversified regional presence. The players are concentrating on supporting research and development. Furthermore, they embrace strategic growth initiatives, such as development, product introduction, joint ventures, and partnerships, to strengthen their market position and capture an extensive customer base.

Prominent players in the  aortic aneurysm market research include 

• AbbVie Inc. (US)


• Terumo Corporation (Japan)


• CR. Bard Inc. (US)


• Cardiatis S.A. (Belgium)


• Lombard Medical Inc (UK)


• Medtronic Plc. (US)


• Cardinal Health Inc. (US).

Aortic Aneurysm Market Segmatation

Aortic Aneurysm Type Outlook

• Abdominal Aortic Aneurysm (AAA)


• Thoracic Aortic Aneurysm (TAA)

Aortic Aneurysm Product Outlook

• Stent-Grafts


• Catheters


• Others

Aortic Aneurysm Treatment Outlook

• Endovascular Aneurysm Repair (EVAR)


• Open Surgical Repair (OSR)

Aortic Aneurysm End User outlook

• Hospitals & Clinics


• Ambulatory Surgery Centers (ASCs)


• Others

Aortic Aneurysm Region Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • UK
  
  
  • Germany
  
  
  • France
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • Australia and New Zealand
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • South America
  
  
  • Middle East
  
  
  • Africa
  
  
  
  

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

• Aortic Aneurysm Market Forecast & Size:

To identify and estimate the market size for the  aortic aneurysm market report segmented by type, product, treatment, and end user by value (in US dollars). Also, to understand the consumption/ demand created by consumers in the  aortic aneurysm market forecast between 2024 and 2032.

• Market Landscape and Trends:

To identify and infer the drivers, restraints, opportunities, and challenges in the  aortic aneurysm market growth

• Market Influencing Factors:

To find out the factors which are affecting the  aortic aneurysm market size among consumers

• Impact of COVID-19:

To identify and understand the various factors involved in the market affected by the pandemic

• Company Profiling:

To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

• Producers


• Hospitals, Healthcare key players


• Governments, associations, and industrial bodies