Portrayed as a silent killer by medical experts, instances of (abdominal) aortic aneurysm are underpinned by hypertension, atherosclerosis, infection of aorta, and diseased aortic blood vessels. Besides smoking and tobacco consumption, hyperlipidemia, aging and a strong family history of CVDs […]
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Competition Analysis: Global Aortic Aneurysm Market
Leading aortic aneurysm market players such as Terumo and Medtronic are focusing on strategic acquisitions and mergers involving relatively smaller companies, in an effort to capture new geographical territories, and enhance product portfolios. Research indicates that domestic/regional manufacturers of aortic aneurysms continue to capitalize on the benefits driven by a lower price point of stent grafts, over multinational brands.
- Endovascular Technology Corp., a MicroPort Scientific Corp. subsidiary, recently acquired shares in Lombard Medical Limited and Lombard Medical Technologies GmbH. The deal was intended to push the acquirer’s efforts in commercialization of their two new stent-graft technologies, viz. Altura and Aorfix.
- A leading distributor of preserved cardiac tissues and vascular transplant applications, Cryolife Inc., acquired JOTEC GmbH, a recognized brand in the vascular implants space.
- In the backdrop of inadequate availability of advanced endovascular management of thoracic aortic aneurysm, MicroPort Endovascular (Shanghai) Co., Ltd. accomplished research in the development of a multi-functional stent graft with aortic dissection repair capability. The launch of Castor, the world’s first-ever branched stent graft that simultaneously supports aortic arch repair, along with that of the descending aorta and left subclavian artery. Castor recently received the CAFDA (China Food and Drug Administration) approval to be launched in the Chinese aortic aneurysm market.
Dynamics: Global Aortic Aneurysm Market
Dramatically rising rate of lifestyle disease prevalence and constantly expanding smoking population worldwide, collectively elevate the risks of aortic aneurysm. With geriatric population expanding at a progressive rate, the demand for aortic aneurysm treatment is likely to experience more prominence in the years to come.
Sustained tobacco consumption is another strong reason responsible for towering demand for treatment of aortic aneurysm. Advent of technology pushing the potential of endovascular surgical procedures is also cited as a high impact factor associated with the performance of the aortic aneurysm market. A relatively spiking number of FDA approvals for devices and treatment technologies used in aortic aneurysm treatment is one of the predominant factors favoring growth of global aortic aneurysm market.
High Availability of Treatment for Abdominal Aortic Aneurysm to Support Market Growth
An increasing number of instances of abdominal aortic aneurysm occurring at juxtarenal or infrarenal part of lower abdomen has been prominently highlighting the need for abdominal aortic aneurysm treatment in the market. On the other side, the prevalence of thoracic aortic aneurysm has been growing at a relatively steady pace, and thus fueling the demand for aortic aneurysm treatment at a moderate pace. However, introduction of advanced technology enabled products in the thoracic aortic aneurysm segment is likely to contribute to the performance of aortic aneurysm market in the years to come.
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Launch of High-tech Stent Grafts to Assist Revenue Growth of Aortic Aneurysm Market
Catheters that are used for occlusion and blood vessel expansion typically account for additional expenditure adding to the overall treatment costs. Whereas, stent grafts that are consistently influenced by design innovations driven by technological advancements, which is encouraging new product launches such as aortic aneurysm stent grafts with in-built imaging and delivery catheter – in turn, pushing prospects of aortic aneurysm market.
Aortic Aneurysm Market Continues to Witness Significant Expansion across North America
North America has been a key investment pocket for leading players in aortic aneurysm market owing to a significant number of abdominal aortic aneurysm cases, early technology adoption, high acceptance of cutting-edge technology enabled products, and a progressive market scenario for strategic collaborative agreements between key players. Tightening regulatory framework in the US is governing quality of new launches, ultimately favoring the growth of aortic aneurysm market, further complemented by the overall reimbursement scenario for surgical aortic aneurysm procedures. While the US Medicare Policy covers over 70% of the treatment costs, a contrary medical reimbursement scenario in developing countries is restricting penetration of aortic aneurysm treatment.
Taxonomy: Global Aortic Aneurysm Market
Based on type, the global aortic aneurysm market is categorized into –
- AAA (Abdominal Aortic Aneurysms)
- TAA (Thoracic Aortic Aneurysm)
By the type of treatment, the global aortic aneurysm market is segmented into –
- EVAR (Endovascular Aneurysm Repair)
- OSR (Open Surgical Repair)
On the basis of type of product, the global aortic aneurysm market is classified into –
- Stent Grafts
End use-wise, the global aortic aneurysm market is segmented into –
- ASCs (Ambulatory Surgical Centers)
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