Press release
Endovascular Aneurysm Repair (EVAR) Market to Show Highest Growth Rate by 2023, says AMR
Endovascular Aneurysm Repair (EVAR) Market
Endovascular aneurysm repair (EVAR) is a preferred treatment option for aortic aneurysm given its advantages over open surgery. These advantages include shorter hospital stay, quick recovery time, improved patient outcomes, and no abdominal surgery. Hence, this EVAR procedure is known as standard intervention for abdominal aortic aneurysm (AAA). The abdominal aortic aneurysm (AAA) segment accounted for nearly seventh-ninth share of the total market in 2016. In this procedure, a stent is placed in an aneurysmal area of the aorta to provide permanent alternative channel for blood flow within the patient’s vasculature, thereby preventing aneurysmal sac from blood flow pressure and rupturing.
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Key Findings of the Endovascular Aneurysm Repair (EVAR) Market:
• The pararenal segment is anticipated to grow at a highest rate during the analysis period.
• U.S. was the major shareholder in the North America endovascular aneurysm repair market, accounted for the highest share in 2016.
• The traditional segment occupied about three-fourth share of the total EVAR market by anatomy in 2016 and expected to retain its dominant share throughout the forecast period.
• China occupied two-ninth share of the total Asia-Pacific endovascular aneurysm repair market in 2016, registering a high CAGR of 11.2% from 2017 to 2023.
• The percutaneous EVAR product segment dominated the endovascular aneurysm repair market in 2016, growing at a CAGR of 6.9% from 2017 to 2023.
• The juxtarenal segment accounted for the seventh-ninth share in pararenal site in 2016.
Factors that drive the growth of global endovascular aneurysm repair market are increase in adoption of endovascular stent grafts and development of next generation stent graft, such as Excluder (W. L. Gore & Associates, Inc.), Zenith (Cook Medical Inc.) and others. In addition, rise in awareness in the emerging economies about availability of wide range of aortic aneurysm devices attract patient population, thereby is expected to provide lucrative growth opportunities to EVAR market. However, inflated cost of EVAR procedures and risks associated with these procedures restrain the market growth.
The thoracic aortic aneurysm (TAA) segment is expected to register highest CAGR of 8.8% throughout the forecast period. This is owing to the rise in development of sophisticated devices for the treatment of thoracic aneurysm globally. In addition, many key players have undergone acquisitions and product development to cater to the demand for EVAR procedures and devices. Ascending thoracic aneurysm segment of thoracic aortic aneurysm market generated highest revenue in 2016, accounting for about 49.6% of the total share, and is anticipated to maintain this trend from 2017 to 2023.
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Drivers, restraints, and opportunities
The impact of drivers is currently moderate but is expected to increase in future and drive the endovascular aneurysm repair market, owing to high prevalence of abdominal aortic aneurysm disease and growth in geriatric population. The impact of restraints is anticipated to reduce during the forecast period as government is taking robust efforts toward improvement of cost structure of EVAR devices and treatment procedures. Furthermore, government is taking initiatives to increase awareness related to availability of aneurysm treatment procedures and devices.
Global endovascular aneurysm repair (EVAR) market: Key product segment
The abdominal aortic aneurysm accounted for a significant share in the global EVAR market, and this trend is expected to continue during the forecast period.
UK Endovascular Aneurysm Repair (EVAR) Market:
Rise in mortality rate due to AAA drives the global EVAR market in UK. For instance, about 19,000 death each year occur in UK, among which half of them is due to AAA. Moreover, UK has adopted screening program of National Health Service (NHS) for early detection of abdominal aneurysm. This has helped in quick diagnosis of the disease, thereby leading to the rise in demand for AAA treatment options, such as EVAR. The market in UK is expected to exhibit the highest CAGR of 5.9% from 2017 to 2023.
The key players in the global endovascular aneurysm repair (EVAR) market include Medtronic plc., Cook Medical Inc., Endologix, Inc., Lombard Medical, Inc., W. L. Gore & Associates, Inc., Cardinal Health Inc., C. R. Bard, Inc., Merck & Co., Inc., Terumo Corporation, and Abbott Laboratories. The other prominent players in the value chain include Volcano Corporation, Spectranetics International BV, AbbVie Inc., Bolton Medical Inc., and Aptus Endosystems Inc.
Key Benefits Endovascular Aneurysm Repair (EVAR) Market:
• The study provides an in-depth analysis of the global EVAR market, with current trends and future estimations to elucidate the imminent investment pockets.
• A quantitative analysis from 2016 to 2023 is discussed to enable the stakeholders to capitalize on the prevailing market opportunities.
• Key market players are profiled and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the market.
• Porter’s Five Forces model is expected to interpret the bargaining power of suppliers & buyers, threat of new entrants & substitutes, and competition among the key players.
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