New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Abdominal Aortic Aneurysm (AAA) Repair Devices Global Market Report 2023" - https://www.reportlinker.com/p06480088/?utm_source=GNW
L Gore and Associates Inc., C. R. Bard, Jotec Gmbh, Gore Medical, Abbott Laboratories, LivaNova PLC., Boston Scientific Corporation and Koninklijke Philips N.V.
The global abdominal aortic aneurysm (AAA) repair devices market is expected to grow from $2.26 billion in 2022 to $2.38 billion in 2023 at a compound annual growth rate (CAGR) of 5.52%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The abdominal aortic aneurysm (AAA) repair devices market is expected to reach $3.00 billion in 2027 at a CAGR of 5.89%.
The abdominal aortic aneurysm repair device market consists of sales of modular bifurcated stent-grafts, modular stent grafts, fenestrated stent grafts, and branched stent grafts.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Abdominal aortic aneurysm repair devices are medical devices used to treat an abdominal aortic aneurysm, a condition that occurs when a section of the aorta wall weakens and the high volume of blood flowing through it exerts pressure on the weak point, causing it to expand outwards and form an aneurysm. These devices (stent grafts) are placed into the aorta by a small groin incision and expand to support the weakest part of the aorta, preventing it from rupturing.
North America was the largest region in the abdominal aortic aneurysm (AAA) repair devices market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of abdominal aortic aneurysm (AAA) repair devices are endovascular stent graft systems and synthetic graft systems.Endovascular stent grafts are fabric tubes supported by metal wire stents known as scaffolds and it used to reinforce the aortic weak area by surgeons using X-ray guidance and prevents aorta rupturing.
Majorly used to treat different sites such as infrarenal AAA, and pararenal AAA and applied in traditional anatomy, and complex anatomy by various end-users such as hospitals, ambulatory surgical centers, and others.
The growing incidence of abdominal aortic aneurysms is expected to propel the growth of the abdominal aortic aneurysm repair devices market going forward.Abdominal aortic aneurysm refers to the condition that occurs when a section of the aorta wall weakens and the high volume of blood flowing through it exerts pressure on the weak point, causing it to expand outwards and form an aneurysm.
Abdominal aortic aneurysm repair devices (stent grafts) are used in treating abdominal aortic aneurysms by inserting into the aorta by a small groin incision and expanding to support the aorta’s weakest section, preventing it from rupturing.For instance, in August 2022, according to the report published by Penn Medicine Lancaster General Health, a US-based not-for-profit health system with a comprehensive network of care, around 200,000 people are diagnosed with an abdominal aortic aneurysm (AAA) each year in the US.
Furthermore, according to the European Society of Cardiology report in 2020, a UK-based non-governmental professional association for cardiology, estimated over 200,000 fatalities per year worldwide that are associated with aortic abdominal aneurysms (AAA) and are more frequent in males than in women. advancing age and is more common in men than in women. Therefore, the growing incidence of abdominal aortic aneurysms is driving the growth of the abdominal aortic aneurysm repair devices market going forward.
Technological improvements are a key trend gaining popularity in the abdominal aortic aneurysm repair devices market.Companies operating in the abdominal aortic aneurysm repair devices market are adopting new technologies to sustain their position in the market.
For instance, in March 2021, Gore-Medical a US-based company engaged in manufacturing medical devices used by healthcare professionals launched Excluder Conformable AAA Endoprosthesis With Active Control System.The device features enhanced device positioning, conformable stent graft, and optional angulation control.
Interventionalists have the option of angling the device to achieve orthogonal placement to the aortic blood flow lumen to maximize conformability and seal due to the delivery system’s angulation control.
In April 2021, Endologix LLC a California-based company engaged manufacturing minimally invasive devices acquired PQ Bypass, Inc. for an undisclosed amount. The acquisition of PQ Bypass by Endologix will build leadership in the treatment of abdominal aortic aneurysms to champion disruptive technologies for the treatment of vascular disease. PQ Bypass is a US-based company engaged in manufacturing medical devices such as stenting of the superficial femoral artery.
The countries covered in the abdominal aortic aneurysm (AAA) repair devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The abdominal aortic aneurysm (AAA) repair devices market research report is one of a series of new reports that provides abdominal aortic aneurysm (AAA) repair devices market statistics, including abdominal aortic aneurysm (AAA) repair devices industry global market size, regional shares, competitors with a abdominal aortic aneurysm (AAA) repair devices market share, detailed abdominal aortic aneurysm (AAA) repair devices market segments, market trends and opportunities, and any further data you may need to thrive in the abdominal aortic aneurysm (AAA) repair devices industry. This abdominal aortic aneurysm (AAA) repair devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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