According to the report, the global endovascular aneurysm repair market was pegged at $2.33 billion in 2016 and is estimated to garner at $3.58 billion by 2023, growing at a CAGR of 6.2% from 2017 to 2023.
Rise in adoption of endovascular stent grafts and development of next-generation stent graft and increase in awareness in the emerging economies regarding availability of wide range of aortic aneurysm devices are the major drivers of the global endovascular aneurysm repair market. However, high cost of endovascular aneurysm repair procedures and several risks associated with these procedures hamper the market growth.
The market is divided according to indication, site, anatomy, products, and geography. Based on the indication, the market is segmented into abdominal aortic aneurysm (AAA) and thoracic aortic aneurysm (TAA). The thoracic aortic aneurysm (TAA) segment is estimated to manifest the fastest CAGR of 8.8% during the forecast period, owing to increase in development of sophisticated devices for the treatment of a thoracic aneurysm. However, the abdominal aortic aneurysm (AAA) segment held the largest market share in 2016, contributing nearly half of the market and is expected to maintain its dominance throughout the study period.
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On the basis of the site, the market is divided into infrarenal and pararenal. The infrarenal site held the largest share in 2016, contributing about sixth-seventh of the total market, owing to elevated rate of occurrence of abdominal aneurysm at infrarenal site. However, the pararenal site of EVAR segment market is estimated to register the fastest CAGR of 7.1% during the forecast period.
Based on anatomy, the market is segmented into traditional and complex. On the basis of products, the market is divided into percutaneous EVAR, fenestrated EVAR, aortic stents & TAA grafts, and others. The percutaneous EVAR segment is projected to portray the CAGR of 6.9% throughout the forecast period, owing to the increase in demand for advanced technologies, surge in incidence of aneurysm, and rapid surge in geriatric population across the globe.
Based on geography, the market is bifurcated into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (LAMEA). As per the report, Asia-Pacific and LAMEA regions collectively accounted for nearly one-fifth of the total share and is projected to continue this trend through 2023, owing to rise in adoption of endovascular aneurysm repair in the developing countries such as India and China. However, the U.S. was the major shareholder in the North America endovascular aneurysm repair market in 2016.
The report includes in-depth analysis of the major market players such as Medtronic plc., Endologix, Inc., W. L. Gore & Associates, Inc., C. R. Bard, Inc., Terumo Corporation, Cook Medical Inc., Lombard Medical, Inc., Cardinal Health Inc., Merck & Co., Inc., and Abbott Laboratories.
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