Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global aortic repair devices market. In addition, complete analysis of changes on the global aortic repair devices market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. During COVID-19 pandemic, the healthcare facilities has witness increasing demand for various medical device, medical facilities. However, in pandemic , global aortic repair devices market has witnessed moderate demand for market and has been more or less affected due to supply chain distribution, declining sales of product has hamper the market during the COVID-19. On the other hand, the changing lifestyle, obesity, cardiac disorders emerging cases has provided positive growth for market post COVID-19
With rising technology advancement and new innovation the cardiac care has witnessed a transformation over the years with the technology playing a major role. The rising new hospital, increasing cardiac patient, prevalence of obesity and risk of heart diseases as well as death caused by cardiac diseases has certainly led the manufacturer to focus on new innovation and adoption of new technology in global aortic repair devices market. Besides, major focus of manufacturer on modernization in the medical devices with implementation of new technology has accelerating the demand for aortic repair devices market. Likewise, increasing number patient in cardiovascular diseases is the key which has contributed healthy growth in the market. For instance according to CDC, Coronary heart disease is the most common type of heart disease, killing 360,900 people in 2019. About 18.2 million adults age 20 and older have CAD (about 6.7%). About 2 in 10 deaths from CAD happen in adults less than 65 years old. This factors is expected to provide ample of new growth opportunities for market during the forecast period (2021-2028).
The global aortic repair devices market is expected to finds major growth opportunities in market attributing to increasing research and development activities in healthcare sector. The healthcare industry is currently having increasing focus on improving the healthcare facilities with enhancing patient health and safety. Likewise, growing new adoption of aortic repair devices in healthcare facilities has led the manufacturer to boost their research and development with the potential to improve the patient outcomes, quality of care and cost effectiveness, number of hospitals have increasing demand for market products which has certainly enhance the research activities which is the key factor propelling the market demand. Adding to that the increasing development of market is expected to contribute healthy growth in the market during the forecast period (2021-2028).
The major factor restraining the global aortic repair devices market growth are lack in availability of certain devices like aortic repair devices in various developing countries has certainly limited the market growth. Besides, rising in complicated post procedure has further restrain the market growth during the forecast period. However, different strategies like new innovation, technological advancement can certainly help to overcome the market challenges in upcoming years.
The major challenge faced by the market will availability of certain devices like aortic repair devices in developing countries. Across the globe, number of small countries often lack the precise healthcare facilities, which further restrain the market growth, sales and distribution in the theses countries which is expected to be the major challenge faced by the global market over the estimated time period.
The report provides in-depth analysis of global aortic repair devices market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various healthcare facilities, rising patient in heart diseases has led the increasing demand for market and is expected to witness the growth at a CAGR of 5.70% from 2021-2028. The major regional countries expected to propel the market with new growth avenue are United States, Canada, China, India, Germany, and U.K. among others.
The global aortic repair devices market comprises of different market segment like products, procedure and geography.
The products studied in the global aortic repair devices market are stent grafts, catheters. Stent grafts is likely to witness rising new growth opportunities in the market during the estimated time period. The major factor contributing in the segment growth is rising number of people suffering from cardiac disorder and diabetes among the population. On the other hand, rising adoption of stent graft are used as an alternative to surgical repair to treat selected high risk patient with the degenerative thoracic aortic aneurysms has specifically fuelled the segment growth. Furthermore, increasing demand for products with technological and rising number of clinical trials has specifically fuelled the demand for stent grafts products. Likewise, catheters is expected to have growth at specific growth rate during the estimated time period.
On the other hand, procedure segment comprises of abdominal aortic aneurysm repair, open repair, endovascular aneurysm repair, thoracic aortic aneurysm repair, thoracic endovascular aneurysm repair. Endovascular aneurysm repair is expected to dominate in the global aortic repair devices market. The major factor boosting the demand for segment are endovascular aneurysm repair is a minimally invasive alternative to open surgery for the treatment of abdominal and thoracic aortic aneurysm. The EVAR procedure involves the inserting a stent graft within the aneurysm area through a groin (femoral artery). The stent insertion provides a permanent alternative channel for blood flood within the patient’s vasculature thereby preventing aneurysmal sac from the blood flow pressure and rupturing. Alternatively, endovascular aneurysm repair procedure is expected to grow rapidly due to increasing preference for this procedure and treatment option compared to open surgeries for aortic aneurysm owing to its advantages such as potentially improved survival rate and reduced recovery time.
The global aortic repair devices market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). North America is expected to lead in the global aortic repair devices market over the estimated time period. The increasing prevalence of obesity, smoking, heart diseases has certainly contributed in the growth of market. Besides, increasing number of patients in cardiovascular diseases is expected to drive the market. The rise in the innovations and advancements in technology as well as modernization in the medical devices has specifically fuelled the demand for market. Furthermore, rising cases of aortic aneurysms or aortic dissections has certainly led the demand for the market products. For instance according to CDC, aortic aneurysms or aortic dissections were the cause of 9,904 deaths in 2019. In 2019, about 59% of death due to aortic aneurysm or aortic dissection happen among men. Besides, a history of smoking accounts for about 75% of all abdominal aortic aneurysms. These factors has certainly created rising demand for market in the region. Similarly, Asia Pacific is expected to witness the growth with emerging new opportunities during the estimated time period.
The competitive landscape analysis of aortic repair devices market is certainly based vast range of market players operating in the aortic repair devices manufacturing. The key manufacturer significantly offer a range of product portfolio through various products. Besides, the market has major competitive analysis based on new product launches as well as expansion and acquisitions. With changing lifestyle, obesity, smoking and cardiovascular diseases, and cancer; the market players has increased their innovation further propelling the market with new growth avenue.
The key players studied in market are Terumo Aortic, Cardiatis, Cook Medical, Inc., Endologix, Inc., JOTEC GmbH, Lombard Medical Technologies, Medtronic PLC, W. L. Gore and Associates, VASCUTEK Ltd., MicroPort Scientific Corporation, Bolton Medical, BioStable Science & Engineering, Edwards Lifesciences Corporation, Bentley, Braile Biomedica, Cardinal Health, InSitu Technologies Inc., LeMaitre Vascular, Inc. and Vascular Concept among others.
December 2021: Terumo Aortic had announced the launch and first commercial case of the Aortic Balloon in United States. The device assist the physicians in the expansion of the aorta when using TREO and RELAY stent grafts in endovascular aortic repair. The product is a low profile device with 10F and offers exceptional inflation control and the broadest balloon diameter range up to 50mm.
February 2019: Cook Medical had announced that it has received the FDA approval for its endovascular stent graft system to repair Type B dissections of the descending thoracic aorta in a less invasive procedure than open surgery. The device called the Zenith Dissection Endovascular System consist of a proximal stent graft component and distal bare stent component. Instead of making a large incision in the chest, the physician makes a small incision near each hip to insert and guide the device into place in the aorta.
Aortic repair devices are ideally abdominal stent graft devices which is primarily used to treat infrarental abdominal aortic aneurysm with or without associated iliac artery aneurysm. The increasing cardiac patient, surgeries, rising healthcare technology advancement, modernization in the medical devices, increasing number of patients in cardiovascular diseases has certainly propelled the demand for market. The report is specifically studied for different aortic repair devices products and its uses for different procedures. Aortic repair devices which are currently the increasingly preferred approach for the treatment of patients. The global aortic repair devices market comprises of different market segment like products, procedure and region analysis. The products studied in the global aortic repair devices market are stent grafts, catheters. On the other hand, procedure segment comprises of abdominal aortic aneurysm repair, open repair, endovascular aneurysm repair, thoracic aortic aneurysm repair, thoracic endovascular aneurysm repair. The global aortic repair devices market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW).
1) Which product has accounted the major aortic repair devices market share?
Stent Grafts is leading product which is likely to maintain its growth during the forecast period in the global aortic repair devices market.
2) Which is the leading mode of delivery segment for population health management?
Endovascular aneurysm repair is anticipated to gain major market share for procedure segment in 2021 and maintain its dominance over the forecast period.
3) Which region is gaining majority of market share during the forecast period (2021-2028)?
North America is expected to lead in the North America aortic repair devices market.
