Rising demand for minimally invasive procedures, increasing geriatric population, and increasing prevalence of abdominal aortic aneurysm

NEW YORK, NEW YORK, UNITED STATES, September 2, 2021 /EINPresswire.com/ -- The global abdominal aortic aneurysm repair devices market size is expected to reach USD 4.12 Billion in 2028 and register a CAGR of 6.9%, according to the latest report by Reports and Data. Technological advancements in surgical procedures, increasing prevalence of obese patients, and other conditions such as syphilis, atherosclerosis, and cystic necrosis, and rising public awareness are key factors boosting global market revenue growth.

An abdominal aortic aneurysm is a condition in which results in enlargement of lower part of aorta which generally affects the geriatric population and is majorly caused by prolonged consumption of alcohol, tobacco, and smoking. Factors such as increasing elderly population, favorable reimbursement schemes, availability of technologically developed abdominal aortic aneurysm repair devices and improvements in the healthcare systems and infrastructure are supporting global market growth. In addition, advancements in aneurysm repair procedures, increasing healthcare spending, and increasing investments to develop more enhanced abdominal aortic aneurysm repair devices are expected to boost market growth going ahead. However, factors such as high cost of minimally invasive surgeries, stringent regulations and restrictions on product launches, and dearth of favorable insurance policies in certain countries are expected to hamper overall growth of abdominal aortic aneurysm repair devices market throughout the forecast period.

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Market Overview:

The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.

The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.

The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Abdominal Aortic Aneurysm Repair Devices market in these key regions.

Some key highlights in the report:

• Among the products, the stents segment is expected to register rapid revenue growth throughout the forecast period owing to high usage of stents for treating an abdominal aortic aneurysm. The stent graft is a tube covered with thin polyester fabric that is opened inside the aorta and fastened in place that protects the aorta and stops the aneurysm from bursting.

• Based on product type, the endovascular aortic repair is expected to account for significant revenue share over the forecast period. Endovascular aortic repair is highly preferred over open surgery as it requires minimum invasion, less hospital stay, and quick recovery.

• Based on end use, the hospital segment is expected to account for largest revenue share between 2021 and 2028 owing to availability of latest abdominal aortic aneurysm repair devices, increasing number of surgical procedures, and high demand for minimally invasive methods.

• North America is expected to account for robust revue share over the forecast period owing to factors such as increasing adoption of abdominal aortic aneurysm repair devices, availability of technologically advanced devices, presence of well-established healthcare systems, rising geriatric population, and high public awareness about diagnosis and treatment for abdominal aortic aneurysm.

• The abdominal aortic aneurysm repair devices market in Asia Pacific is expected to register rapid revenue growth between 2021 and 2028. Rising disposable income, improvements in the healthcare facilities, increasing adoption of minimally invasive surgeries, and large geriatric patient pool are some of the key factors boosting market growth in Asia Pacific.

• Key players operating in the global abdominal aortic aneurysm repair devices market include Cook Medical Inc., Endologix, Inc., W. L. Gore & Associates, Inc., AbbVie Inc., Medtronic Plc., Cardinal Health Inc., Cardiatis S.A., C. R. Bard, Inc., Lombard Medical, Inc., Terumo Corporation, WefernLife, Braile Biomdica, and MicroPort Scientific Corporation.

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For the purpose of this study, Reports and Data has segmented the abdominal aortic aneurysm repair devices market on the basis of treatment, product type, end use, anatomy, and region:

Treatment Outlook (Revenue in USD Billion; 2018–2028)

• Open surgery
• Endovascular Aortic Repair

Product Type Outlook (Revenue in USD Billion; 2018–2028)

• Stents
• Catheters
• Balloons
• Wires
• Others

End Use Outlook (Revenue in USD Billion; 2018–2028)

• Hospitals
• Clinics

Anatomy Outlook (Revenue in USD Billion; 2018–2028)

• Traditional Anatomy
• Complex Anatomy

Regional Outlook (Revenue, USD Billion, 2018 - 2028)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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