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Aortic Endograft Global Market Report 2024: Size, Growth, Trends, Outlook, Key Players to 2033
Aortic Endograft market Report
According to The Business Research Company's, The aortic endograft market size has grown strongly in recent years. It will grow from $3.14 billion in 2023 to $3.35 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to growth in medical tourism, increasing need for aortic aneurysm management, increasing number of aortic aneurysm cases, technical success of endograft implantation, increase in the number of hospitals.
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Market Drivers and Trends:
The growing prevalence of aortic aneurysms is expected to propel the growth of the aortic endograft market going forward. An aortic aneurysm is a localized and abnormal dilation or bulging of the aorta, which is the largest artery in the human body. Aortic endografts are used to treat aortic aneurysms because they are less invasive than traditional open surgery. A fabric-covered metal or polymer device is inserted through a catheter, strengthening weak aortic walls and lowering the risk of rupture. For instance, in February 2023, according to Government Digital Service, a UK-based public sector information website, around 274,800 men were offered screening, with 79.0% receiving a conclusive screen and 1,794 aneurysms being found April 2021 to March 2022. Therefore, the growing prevalence of aortic aneurysms is driving the growth of the aortic aneurysm market.
Major companies operating in the aortic endograft market are developing innovative solutions, such as the castor-branched aortic stent graft system, to gain a competitive edge in the market. The castor-branched aortic stent graft system is a medical device used for minimally invasive repair of the aorta and aortic arch, particularly in cases of Stanford type B aortic dissection (TBAD). For instance, in December 2021, Shanghai MicroPort Endovascular MedTech Group Co. Ltd., a China-based manufacturer of aortic and peripheral vascular intervention devices, launched the CastorTM Branched Aortic Stent-Graft System (CastorTM). The world's first stent-graft device for simultaneous aortic and aortic arch repair with minimally invasive therapy. The distinctive unibody design of this device may conform to diverse arch anatomies and provide one-time access and release. This feature guarantees the safe and easy reconstruction of the left subclavian artery while also mitigating the risk of endoleaks and promoting long-term stability.
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Major Key Players of the Market:
Cardinal Health Inc., Abbott Laboratories, Medtronic Plc, Becton, Dickinson and Company, Koninklijke Philips N.V., Boston Scientific Corporation, Terumo Corporation, W. L. Gore & Associates Inc., Cook Medical Inc., Merit Medical Systems Inc., Penumbra Inc., LifeTech Scientific Corporation, Altura Medical Inc., MicroVention Inc., MicroPort Scientific Corporation, CryoLife Inc., Cordis Corporation, Endologix LLC, Braile Biomédica Indústria Comércio e Representações Ltda., Nano Endoluminal S.A., Biomerics LLC, JOTEC GmbH, Lombard Medical Inc., Aptus Endosystems Inc., Lombardi SA, Cardiatis S.A., Endospan Ltd., Transcatheter Technologies GmbH
Aortic Endograft Market 2024 Key Insights:
• The aortic endograft market is expected to grow to $4.08 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%.
• Rising Incidence Of Aortic Aneurysms Fuels Expansion Of Aortic Endograft Market
• Revolutionary Medical Device For Aortic And Aortic Arch Repair
• North America was the largest region in the aortic endograft market in 2023
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