Endovascular aneurysm repair is a minimally invasive surgical procedure used to treat an aneurysm. During an EVAR procedure, a stent graft is implanted through a small incision in the groin and threaded up to the site of the aneurysm, where it is then deployed to reinforce the weakened area and prevent it from rupturing.
In 2021, the market for endovascular aneurysm repair was worth USD 3.03 billion, and by 2030 it will be worth USD 5.03 billion, at a 5.8% CAGR during the forecast period.
The global endovascular aneurysm repair market is expanding due to factors such as an increasing prevalence of aortic aneurysms, technological advancements in endovascular aneurysm repair devices, and rising demand for minimally invasive procedures.
Market Dynamics
Drivers
- Increasing prevalence of aortic aneurysms: As the global population ages, the incidence of aortic aneurysms is expected to rise, driving demand for endovascular aneurysm repair procedures.
- Technological advancements in endovascular aneurysm repair devices: The development of new stent grafts and other minimally invasive devices are improving the safety and efficacy of EVAR procedures, driving demand for these treatments.
- Rising demand for minimally invasive procedures: EVAR is less invasive than traditional open surgery. As patients increasingly seek out less invasive treatment options, the demand for EVAR is likely to grow.
- Favorable reimbursement policies: Many countries provide reimbursement for EVAR procedures, making these treatments more accessible to patients and driving demand for these procedures.
- Increasing awareness among patients and physicians: As awareness of the benefits of EVAR grows, more patients are likely to seek out these treatments, and more physicians are likely to offer them to their patients.
Restraints
The endovascular aneurysm repair (EVAR) method has become popular over the past 20 years. However, the development of patient safety during surgical intervention depends on the EVAR equipment’s present state of development. Numerous graft-related issues can force the patient to undergo open surgery for treatment or cause the aneurysm to burst. Additionally, endoleaks are the complication that affects EVAR procedures the most frequently. It indicates the steady blood flow that continues to fill the remnant aneurysm sac, showing that the entire procedure has failed. The high cost of EVAR treatments and the risks associated with them also restrict the market growth.
OpportunityÂ
Future EVAR procedures will be highly effective since they are a safe, reliable, and long-lasting alternative to aortic rupture procedures. As a result, it will encourage the market to expand in the next years. Additionally, among men, 65 years of age and older, abdominal aortic aneurysms (AAAs) were three times more common than thoracic aortic aneurysm repairs (TAA). As a result, there is a rising need for enhanced stent-graft systems to treat AAA.
Market Segmentation
On the basis of type, the endovascular aneurysm repair market is segmented into thoracic aortic aneurysms, abdominal aortic aneurysms, cerebral aortic aneurysms, and others.
In 2021, Abdominal Aortic Aneurysm commanded a sizable market share. The aorta, which feeds blood to the pelvis, abdomen, and legs, weakens and enlarges, resulting in the development of AAA. A history of AAA, diabetes mellitus, hypertension, smoking, and obesity are probable causes of such abnormalities. Due to sedentary living practices, other medical disorders, and all the causes outlined above, they are all increasing. The following factors contributed to the market’s hold. The prevalence of thoracoabdominal aortic aneurysms, which is close to 15-20%, has also been a significant sub-segment for the AAA.
On the basis of end-user, the market is segmented into clinics, hospitals, ambulatory surgical centers, and others.
Ambulatory Surgical Centers controlled a sizable portion of the market in 2021. It is due to the simplicity of treatment, short hospital stays, cheaper procedural expenses, among many other benefits.
Regional Analysis
North America was the largest market holder, with a revenue share of 33% in 2021 due to the rising rate of aneurysms. The region also concentrates on creating and innovating reliable medical infrastructure items, which supports the market’s expansion even more. In the USA, about 116 million adults, or nearly half of all adults, have hypertension, which is the main cause of aneurysms.
In addition, Asia-Pacific will provide profitable growth prospects during the forecast period. It is due to recent developments in medical research and the governing priorities of nations like Korea and Japan to quickly improve and launch new EVAR-related products.
Key PlayersÂ
- Bolton Medical Inc.
- Cook Group Incorporated
- Medtronic plc
- L. Gore & Associates Inc.
- JOTEC GmbH
- Gamida Cell Ltd.
- Getinge AB (Maquet)
- Endologix Inc.
- Shanghai MicroPort Medical (Group) Co. Ltd.
- Terumo Corporation
- Lombard Medical Limited
- Cardinal Health
In 2021, the market for endovascular aneurysm repair was worth USD 3.03 billion, and by 2030 it will be worth USD 5.03 billion, at a 5.8% CAGR during the forecast period. The major factor boosting market expansion are the rising incidence of cardiac illnesses and hypertension, the aging global population, and tobacco use. Endovascular aneurysm repair market expansion may be constrained by high medical costs, a lack of reimbursement policies, and rising out-of-pocket expenses.
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