New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aortic Aneurysm Global Market Report 2023" - https://www.reportlinker.com/p06480011/?utm_source=GNW
, Arsenal Medical Inc., Boston Scientific Corporation, Endospan Ltd. and LifeTech Scientific Corporation.
The global aortic aneurysm market is expected to grow from $3.15 billion in 2022 to $3.41 billion in 2023 at a compound annual growth rate (CAGR) of 8.28%. 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 aortic aneurysm market is expected to reach $4.84 billion in 2027 at a CAGR of 9.21%.
The aortic aneurysm market includes revenues earned by entities by open surgery and endovascular repair.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
An aortic aneurysm is a balloon-like growth in the aorta, the major artery that delivers blood from the heart through the chest and torso.Certain medical conditions, genetic problems, and pressure can weaken the aorta, and the blood flow along these walls can cause an aneurysm.
These aneurysms can be tube-shaped or round.
North America was the largest region in the aortic aneurysm market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main aortic aneurysm types are thoracic aortic aneurysm (TAA), and abdominal aortic aneurysm (AAA).Thoracic aortic aneurysm (TAA) is a type of aortic aneurysm caused by a weakened area in the aorta present in the chest.
The various treatments are open surgical repair (OSR), and endovascular aneurysm repair (EVAR) used in hospitals and clinics, ambulatory surgery centers (ASCS), and others.
The rising prevalence of alcohol and tobacco consumption is expected to propel the aortic aneurysm market going forward.Alcohol and tobacco containing nicotine are psychoactive substances that affect the central nervous system of the body.
The increased consumption of alcohol and tobacco products is a leading cause of aortic aneurysm.For instance, in May 2022, according to a report by World Health Organization (WHO), a Switzerland-based specialized agency responsible for international public health, around 3 million deaths occur every year due to the consumption of alcohol and 7 million deaths occur due to the consumption of tobacco worldwide.
Furthermore, in people aged 20-39, approximately 13.5% of deaths are because of alcohol consumption. Further, in 2021, according to the Centers for Disease Control and Prevention, a US-based national public health agency, around 12 of every 100 U.S. adults aged 18 years or older (11.5%) currently smoked cigarettes and 28.3 million adults in the US currently smoke cigarettes. Therefore, the rising prevalence of alcohol and tobacco consumption is driving the growth of the aortic aneurysm market.
Technological advancements have emerged as the key trend gaining popularity in the aortic aneurysm market.Major companies operating in the aortic aneurysm market are developing and using innovative technologies to strengthen their position in the market.
For instance, in January 2021, Royal Philips, a Netherlands-based health technology company, introduced the Philips Abdominal Aortic Aneurysm Model.It is uniquely designed with 3D ultrasound that delivers accurate diagnostic information, preventing patients from being exposed to high levels of radiation and other toxic substances.
Philips AAA Model integrates innovative software and leading 3D ultrasound technologies into a single solution that helps in increased diagnostic confidence and an improved patient experience.
In May 2023, Striker Corporation, a US-based medical technologies company, acquired Cerus Endovascular Ltd., for an undisclosed amount. With this acquisition, Striker corporation is aiming to strengthen its current aneurysm treatment solutions globally. Cerus Endovascular Ltd., is a UK-based medical device company that provides aneurysm treatment solutions.
The countries covered in the aortic aneurysm 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 aortic aneurysm market research report is one of a series of new reports that provides aortic aneurysm market statistics, including aortic aneurysm industry global market size, regional shares, competitors with a aortic aneurysm market share, detailed aortic aneurysm market segments, market trends and opportunities, and any further data you may need to thrive in the aortic aneurysm industry. This aortic aneurysm 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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