Rising prevalence of Abdominal Aortic Aneurysm due to rise in geriatric population and unhealthy living habits, new product launches, increasing strategic developments such as mergers and acquisitions, marketing techniques, favorable research funding scenario, adequate insurance coverage and reimbursements are key factors contributing to high CAGR of Abdominal Aortic Aneurysm Repair Device Market during forecast period.
Market Size – USD 2.11 Billion in 2018, Market Growth – 6.9% CAGR of Market Trends – Product launches and research in the field of Abdominal Aortic Aneurysm
NEW YORK, May 27, 2019 (GLOBE NEWSWIRE) -- According to the latest analysis by Reports and Data, it was found that Abdominal Aortic Aneurysm Repair Device market was valued at USD 2.11 billion in 2018 and is forecasted to attain a market value as high as USD 3.62 billion by 2026 at a CAGR of 6.9%. The study covers the analysis of the market for the devices utilized in the repair of a localized enlargement or bulging of the aorta situated in the lower abdominal area. This ailment is found to be most common among men rather than women. Smoking, consumption of alcohol, and unhealthy living habits are the risk factors involved in the occurrence of this ailment. There are two major types of treatments involved - open surgery and methods like Endovascular Aneurysm Repair and laparoscopy which is minimal invasive in nature. Nowadays minimal invasive methods are chosen over opens surgeries as it takes minimal hospital time and easy recovery. Newer drugs and pharmacological methods are being evolved to fight the disorder.
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The Abdominal Aortic Aneurysm Repair Device Market conditions are very found to be very favorable mostly due to the increase in people vulnerable to the disease or affected by it. This is due to the evolution of living habits that has called for the excessive use of tobacco and other substances including alcohol. This is also common among people who have a first degree relatives suffering from this ailment. Increase in disposable income and medical awareness among people has also acted as a driving force for the Abdominal Aortic Aneurysm Repair Device Market. Symptoms are no longer treated as a natural pain by people. This helps in easy diagnosis and treatment, calling in for expansion of the market. Also exhaustive research is carried forward to introduce novel products and companies are involving in strategic acquisitions mergers and collaborations. But the market is not free from restraints. It is noticed that high cost of materials and medical expenditure has acted out as a hindrance to the Abdominal Aortic Aneurysm Repair Device Market. Apart from this low budget for medical expenses in LDCs, strict regulations by regulatory authorities for introduction of new products and monopolistic function act has an obstacle.
Further key findings from the report suggest
- The rise in permissions, agreements and approvals given by the authorities in Asia-Pacific region makes it one of the most fast growing markets encouraging the introduction of new variants in the market. For example, the Japanese Ministry of Health, Labor and Welfare approve introduction of new products by Lombard Inc.
- The North American market especially the US stretch holds the maximum amount of market share as it is the headquarters to a lot of primary players in the market like Boston Scientific Corp and Medtronic Plc.
- Strategic partnerships and novel product launches were identified as the significant measures to capture market share. Microport Scientific corporation invested on Lombard Medical Inc. in order to gain exclusive product marketing rights by paying a lump sum amount of 15 million USD in 2016.
- Smoking increase the risk of this disease by almost 50-70%. Hence the largest market of the repair device is distributed among smokers. Also the risk is higher among women.
- Endovascular aortic repair is preferred over open surgery as it is minimal invasive in characteristic and requires less hospital stay and recovery time make it increasingly popular.
- Aortic graft stent has a tremendous market in hand due to the increasing cases of AAA and TAA diseases across the globe and it addresses complex anatomies.
- The use of drugs, pharmacological measures are being exhaustively researched about. The micro management of the disease using MiRs is an upcoming highlighted topic for research.
- Latin America is the most fast growing market due to the unrequited medical assistance in the field of aneurysm treatment.
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Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the Abdominal Aortic Aneurysm Repair Device market on the basis of treatment, product type, anatomy, end user, and region:
Treatment (Revenue in USD Million; 2016–2026)
- Open surgery
- Endo vascular Aneurysm
Product Type (Revenue in USD Million; 2016–2026)
- Stents
- Catheters
- Balloons
- Wires
- Others
End User (Revenue in USD Million; 2016–2026)
- Hospitals
- Clinics
Anatomy (Revenue in USD Million; 2016–2026)
- Traditional Anatomy
- Complex Anatomy
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Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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