Pune India, Jan. 06, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the endovascular therapy devices market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the endovascular therapy devices market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product type, application, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global endovascular therapy devices market are Medtronic, Japan Lifeline, Nellix, Cardinal Health, Terumo, Altura Medical, Lifetech Scientific BiFlow Medical, Lombard Medical Technologies, Penumbra, Endologix, Endospan, InspireMD, Getinge AB among others. To achieve a substantial market share in the worldwide wearable pregnancy devices market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The endovascular therapy procedure involves inserting flexible tubes, stents or catheters into a blood vessel for the purpose of withdrawing blood from or delivering medication to a patient's bloodstream. The market is expected to grow at a healthy rate as endovascular treatment devices gain wider acceptance and recognition. A variety of endovascular therapy devices are available on the market, including products that are less invasive, require less hospitalization, require less recovery time, and cause less pain. Innovative medical device design is likely to drive the growth of the market in developed and developing countries. In addition to intravenous antibiotic administration and long-term intravenous nutrition, endovascular devices are used in chemotherapy and blood transfusions, which is creating more opportunities for the market to grow at a broad spectrum. As more clinical research proves the effectiveness of endovascular procedures in treating acute ischemic strokes and aortic repair, the market for endovascular treatment devices is expected to increase. There are several factors stifling market growth, including the high cost of endovascular surgery, low awareness in underdeveloped nations, and the lack of competent surgeons to perform the procedures. Furthermore, the global endovascular therapy devices market will grow in the future with new developments in stent technology and an increase in interventionist experience.
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Scope of Endovascular Therapy Devices Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product Type, Application, End-User, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Medtronic, Japan Lifeline, Nellix, Cardinal Health, Terumo, Altura Medical, Lifetech Scientific BiFlow Medical, Lombard Medical Technologies, Penumbra, Endologix, Endospan, InspireMD, Getinge AB among others. |
Segmentation Analysis
Percutaneous Endovascular Aneurysm Repair (EVAR) is expected to be the fastest-growing segment in 2022.
The product segment includes thoracic aortic aneurysms graft, fenestrated EVAR, percutaneous endovascular aneurysm repair (EVAR), aortic stents, self-expanding nitinol stents and others. The percutaneous endovascular aneurysm repair (EVAR) segment is expected to witness the highest growth rate during the forecast period. The endovascular aneurysm repair (EVAR) procedure is a popular, safe, and effective method of repairing abdominal aortic aneurysms. Moreover, studies have suggested that percutaneous access approaches can replace surgical cutdowns that are currently used to treat abdominal aortic aneurysms over the common femoral arteries. As well, when the abdominal aortic aneurysm is very large, expanding rapidly, bleeding and leaking, the PEVAR surgery is used.
Cardiology is expected to be the fastest-growing segment in 2022.
The application segment includes neurology, cardiology, pulmonary, vascular and others. The cardiology segment is expected to witness the highest growth rate during the forecast period. During the forecast period, cardiovascular disease will emerge as one of the top application segments for endovascular treatment devices. In endovascular therapy, cardiovascular diseases are treated internally rather than by invasive surgery. A variety of cardiac and vascular conditions that were once treated by invasive surgery can now be managed with the help of endovascular therapy devices.
Hospitals & clinics are expected to be the fastest-growing segment in 2022.
The end-user segment includes clinics, hospitals & clinics and others. The hospitals & clinics segment is expected to witness the highest growth rate during the forecast period. Healthcare providers such as hospitals and clinics are expected to witness immense growth during the forecast period, which will contribute a large share in the growth of the market. Hospitals and clinics offer advanced care to their patients and may reimburse patients for certain surgeries.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the endovascular therapy devices market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. In response to healthcare policy liberalization and trade-related consequences, stent developments have advanced endovascular therapy in the area. A rise in obesity and diet, as well as the presence of leading manufacturers in the region, will also propel the market growth for Endovascular therapy Devices in the region. Furthermore, the market players are expected to take strategic initiatives to drive the growth of the market in the region.
Country Analysis
- Germany
Germany's endovascular therapy devices market size was valued at USD 0.27 billion in 2022 and is expected to reach USD 129.37 billion by 2030, at a CAGR of 7.5% from 2023 to 2030.
A robust healthcare infrastructure is expected to drive the market for endovascular therapy devices in this region. Technological advances in the region have changed revascularization strategies from open surgery in the past decade.
- China
China’s endovascular therapy devices market size was valued at USD 0.17 billion in 2022 and is expected to reach USD 138.34 billion by 2030, at a CAGR of 7.8% from 2023 to 2030.
The rapid development of technology, the development of new products, and the high incidence of CVDs are some of the factors driving the market's expansion in the country
- India
India's endovascular therapy devices market size was valued at USD 0.138 billion in 2022 and is expected to reach USD 0.249 billion by 2030, at a CAGR of 7.7% from 2023 to 2030.
A significant increase in medical advancements has contributed to revenue growth for endovascular treatment devices in the country. As a result, the industry has continued to expand and create more opportunities for the market to grow.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increasing demand from the healthcare sector due to of rising cases of cardiovascular disorders, propelling the growth of the market across the countries.
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