New York, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The global thoracic vascular stent grafts market size is expected to expand at ~6% CAGR from 2023 to 2035. The market is anticipated to garner a revenue of USD 284 million by the end of 2035, up from a revenue of ~USD 195 million in the year 2022.The market growth is attributed to the increasing prevalence of cardiovascular diseases worldwide. According to the World Health Organization (WHO), approximately 17.9 million people die worldwide each year from cardiovascular disease, accounting for 32% of all deaths. In addition, dramatically changing dietary habits and evolving lifestyles are some other factors expected to boost the growth of the thoracic vascular stent graft market during the forecast period.
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A thoracic stent graft is a surgical procedure used to repair a thoracic vascular aneurysm. A thoracic aneurysm is a thickening of the main coronary arteries that increases the diameter of the aorta by more than 151%. These grafts come into play when such conditions lead to tearing and subsequent internal bleeding. A stent is a small tube that is left inside the body to reopen a blocked artery. They are designed to be permanent - once the stent is deployed, it stays in place.
Thoracic Vascular Stent Grafts Market: Key Takeaways
- Market in North America to propel highest growth
- The hospitals segment to garner the highest growth
- Market in Asia Pacific to grow at a highest rate
Globally Growing Geriatric Population to Drive Market Growth
As people get older, they face various health problems. Additionally, as recovery slows with age, older people face a range of health problems that significantly impact their overall quality of life. According to the World Health Organization, in 2019, there were about 1 billion people over the age of 60 worldwide. That number is expected to grow to about 1.4 billion by 2030 and 2.1 billion by 2050. Hence, this is expected to be an important factor in boosting the growth of thoracic vascular stent graft market over the forecast period. Hypertension is a condition characterized by chronically elevated vascular pressure. The harder it is for the heart to pump blood, the higher the pressure. High blood pressure is a major condition that increases the risk of heart, brain, and kidney problems, among others. It is one of the leading causes of death worldwide. For instance, since 1990, the number of people with hypertension worldwide has doubled to 1.28 billion by the year 2021. In addition, more than 700 million people worldwide currently suffer from untreated hypertension. As a result, rising hypertension cases are expected to contribute significantly to market growth. Thoracic stent implantation is a minimally invasive surgery to repair a collapsed thoracic aortic aneurysm. It strengthens the walls of the thoracic aorta to prevent aneurysms from rupturing. A thoracic stent graft is a tubular implant that is deployed using catheter technology and image guidance. They consist of stents and vascular conduits, and the main application of thoracic stent grafts is the treatment of endovascular aneurysms.
Thoracic Vascular Stent Grafts Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
High Prevalence of Cardiovascular Disease to Drive Market Growth in the North American Region
The thoracic vascular stent grafts market in the North American region is estimated to garner the largest revenue by the end of 2035. The market growth in the region is primarily backed by the significant increase in the geriatric population and the high prevalence of cardiovascular disease (CVD) in the region. About 697,000 people died of heart disease in the United States in 2020, according to the Centers for Disease Control and Prevention. Additionally, approximately 20.1 million adults over the age of 20 suffer from coronary artery disease. In addition, dynamically increasing technological developments and the availability of favorable reimbursement policies are some other factors expected to fuel the growth of the market in this region during the forecast period. In minimally invasive procedures, such as the management of endovascular aneurysms, a thoracic stent graft is implanted in the patient to stabilize the injured area and protect it from tearing. Stents can be made from a variety of materials, including silicone, fabric, metal mesh, or mixtures of these materials. Metal mesh is used for stents used in coronary arteries. Aortas, such as the aorta, are treated with tissue stents, sometimes called stent-grafts. Silicone is a common material for stents used in the airways of the lungs.
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Growing Demand for Minimally Invasive Surgery to Drive Growth in Asia-Pacific
The thoracic vascular stent grafts market in the Asia Pacific region is estimated to garner the highest CAGR by the end of 2035. The regional market growth is attributed to the dynamically increasing demand for minimally invasive surgery coupled with the surging proportion of cardiovascular disease patients in the region. For instance, cardiovascular disease was the leading cause of death in Asia in 2019, accounting for nearly 11 million deaths, or nearly 38% of all deaths in the region. In addition, a surge in kidney disease and the expansion of medical infrastructure are some of the key factors estimated to drive market growth in this region in the projected time frame. Moreover, a significant increase in favorable redemption policies is expected to drive market growth in the region over the forecast period. Stents can be made from a variety of materials, including silicone, fabric, metal mesh, or mixtures of these materials. Metal mesh is used for stents used in coronary arteries. Aortas, such as the aorta, are treated with tissue stents, sometimes called stent grafts. Silicone is a common material for stents used in the airways of the lungs. Angioplasty and stenting have proven highly beneficial in treating heart attacks, strokes, and gangrene. Stenting techniques can save the lives of many people who suffer heart attacks and strokes. Angioplasty and stenting can also improve quality of life by reducing the symptoms of angina and other heart diseases.
Thoracic Vascular Stent Grafts, Segmentation by End User
- Hospitals
- Ambulatory Surgical Centers
- Medical Centers
- Others
Amongst these four segments, the hospitals segment is anticipated to hold the largest share over the forecast period. The growth of this segment is driven by increasing cardiovascular disease cases worldwide and rising healthcare costs globally. For instance, according to the World Bank, global healthcare spending increased from 9.7% in 2018 to 9.83% in 2019. In addition, the increasing number of patients visiting hospitals for diagnosis and the subsequent availability of better reimbursement are several important factors. It is expected to further drive market growth during the forecast period. Moreover, the existence of a huge patient pool requiring treatment is also estimated to be a major factor boosting the growth of this segment.
Thoracic Vascular Stent Grafts, Segmentation by Product Type
- Endovascular Stent Graft
- Hemodialysis Access Graft
- Peripheral Vascular
- Others
Amongst these four segments, the endovascular stent graft segment in thoracic vascular stent grafts market is anticipated to hold a significant share over the forecast period. The growth of this segment can be attributed to the increasing adoption of endovascular stent grafts in the treatment of aneurysms, including thoracic aortic aneurysms, across the globe. For instance, it has been estimated that around 26% of aortic aneurysms occur in the chest and abdomen. Additionally, these stent grafts can be used in conjunction with antibiotics to treat fungal aneurysms. Moreover, increasing technological advances in endovascular stent grafts have led to the development of novel approaches to treat various aortic aneurysms, including splanchnic arteries. This is another key factor estimated to boost segment growth significantly during the forecast period.
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Thoracic Vascular Stent Grafts, Segmentation by Type
- Plastic
- Metal Thoracic Vascular Stent Grafts
Thoracic Vascular Stent Grafts, Segmentation by Application
- Cardiac Aneurysm
- Cardiovascular Diseases
- Kidney Failure
- Others
Few of the well-known industry leaders in the thoracic vascular stent grafts market that are profiled by Research Nester are Medtronic, JOTEC GmbH, Cook Group Incorporated, Terumo Corporation, Cardinal Health, Inc., LeMaitre Vascular, Inc., Merit Medical Systems, Inc., and other key market players.
Recent Development in the Thoracic Vascular Stent Grafts Market
- Terumo Corporation has launched the Thoraflex hybrid device for treating complex diseases of the aortic arch. The disposable device consists of a Gelweave polyester graft bonded to a self-expanding Nitinol stent.
- Lifetech Scientific (Shenzhen) Co., Ltd. has received formal written notification from the U.S. National Medical Products Administration (“NMPA”) granting approval for the arterial stent implantation system (Chimney Technology). NMPA Special Review and Approval Process for Innovative Healthcare Services. It is the world's first stent graft system specifically designed for the "chimney technique", the predominant technique used to treat aortic dissection lesions.
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