Aortic Stents Grafts Market is expected to reach valuation of US$ 2.8 Billion by 2028 | FMI Study
The global Aortic Stents Grafts Market is expected to reach $2.15 billion by 2022. With a growing preference for minimally invasive procedures, the overall market is expected to grow at a CAGR of 4.5%, reaching a valuation of around 2.8 billion by 2028.
The revision in the market size and volume forecasts has been carried out taking into account the impact of various macroeconomic indicators and other industry-based demand-driving factors, as well as the recent developments of the key market participants. In terms of revenue, the global aortic stent grafts market is projected to expand at a 7.6% CAGR over the forecast period of 2018–2028.
North America is expected to contribute a high revenue share in the global aortic stent grafts market over the forecast period. North America is witnessing a large demand for aortic stent grafts due to high adoption of endovascular repair surgeries, which is expected to boost the growth of the aortic stent grafts market.
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The global market is segmented based on product type, end users and region. Based on the product type the market is segmented into abdominal aortic stent graft and thoracic aortic stent grafts. Abdominal aortic stent graft product type segment is expected to represent high revenue share in the global aortic stent grafts market. The thoracic aortic stent graft segment is expected to gain significant share in the forecast period due to increasing focus of the manufacturers on product launch for TEVAR procedures. Based on end users, the market is segmented into the hospitals and ambulatory surgical centers/outpatient surgical centers. Among both the end users, the hospitals is expected to be the leading segment the market.
New product launches with improved stent graft designs are expected to provide enormous opportunities for the growth of the aortic stent grafts market and fulfil the demand from surgeons to overcome complications during surgeries. Increasing government initiatives to reduce the burden of abdominal aortic aneurysm, favourable recommendation and regulatory approvals, mergers, and acquisitions among manufacturers are the key market trends, which are expected to boost the growth of aortic stent grafts market.
Increasing prevalence of aortic aneurysm among the older population, favourable reimbursement policies, adoption of new minimally invasive technologies are the major factors expected to impel the growth of the aortic stents grafts market. Increasing number of government screening programs for people over 65 age has provided huge growth opportunities for the manufacturers operating in the aortic stent grafts market. However, product recalls and lack of skilled healthcare professionals are factors hindering the growth of the aortic stent grafts market.
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The market for aortic stent grafts market is consolidated with large number of major players operating in the global market. Examples of some of the key players identified in global aortic stent grafts market are
- Cook Medical Inc.
- W.L. Gore & Associates
- MicroPort Scientific Corporation Inc.
- Medtronic Plc.
- Lombard Medical Inc.
- Terumo Corporation Inc.
- Cardinal Health Inc.
- Dickinson and Company
- Cryolife Inc.
- Lombard Medical Inc.
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Aortic Stents Grafts Market By Category
- Abdominal Aortic Stent Graft
- Thoracic Aortic Stent Graft
- Ambulatory Surgical Centers/Outpatient Surgical Centers
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