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Endovascular Aneurysm Repair Devices Market Poised for 7.9% Growth, Set to Hit $2.6 Billion by 2029
Endovascular Aneurysm Repair Devices Market Share
The escalating need for less intrusive surgical procedures is set to surge the expansion of the endovascular aneurysm repair devices market. These surgical procedures, known as minimally invasive, are those that ensure limited incisions or interruptions to the body, employing specialized equipment and methods. The acceleration in demand for such procedures is due to factors including lessened recovery periods, decreased risk of complications, smaller cuts translating to less discomfort, and enhanced precision and results. Endovascular Aneurysm Repair (EVAR) devices aid in performing these less intrusive procedures by strengthening the walls of blood vessels and redirecting blood circulation, thus decreasing aneurysm rupture chances. As an example, in January 2024, Intuitive Surgical Inc., an American robotic products producer, announced that they had installed 415 da Vinci surgical systems (robotically controlled surgical systems that use a minimally invasive surgical method) in the last quarter of 2023, reflecting a 12% rise compared to 2022. Hence, the surge in minimally invasive surgeries is fuelling the evolution of the endovascular aneurysm repair devices market.
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How will the growth rate of the endovascular aneurysm repair devices market shape industry trends by 2034?
There has been substantial growth in the market size of endovascular aneurysm repair devices in recent years. The market value, which stands at $2.43 billion in 2024, is projected to increase to $2.63 billion in 2025, implying a compound annual growth rate (CAGR) of 8.2%. This surge in the historical period can be credited to better patient results from EVAR procedures, the increased accuracy and safety of EVAR technology, beneficial reimbursement policies, encouraging clinical trial outcomes, and regulatory permissions.
The market for endovascular aneurysm repair devices is predicted to experience robust expansion in the coming years, reaching a value of $3.56 billion by 2029, with a compound annual growth rate (CAGR) of 7.9%. The significant growth during this period can be ascribed to factors such as increased demand for minimally invasive procedures, the evolution of safer and more effective devices, transition from open surgery to less intrusive procedures, advancements in imaging and diagnostic methodologies, and enhanced surgical results. Forward-looking trends include progression in stent graft technology, improved patient results and shorter recuperation periods, incorporation of imaging and navigation technology into EVAR procedures, the creation of hybrid EVAR devices, and regulatory developments leading to approvals for novel EVAR devices.
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What trends are poised to drive the future success of the endovascular aneurysm repair devices market?
Leading entities in the endovascular aneurysm repair devices market are turning their attention to the creation of cutting-edge solutions like abdominal stent-graft systems. These advancements aim to improve the longevity of devices, successfully carry out procedures, and simplify deployment. An abdominal stent-graft system is a type of medical equipment used in endovascular aneurysm repair (EVAR) procedures to manage abdominal aortic aneurysms (AAA). For example, in August 2024, Terumo India, a medical technology firm based in India, introduced the TREO Abdominal Stent-Graft System. This advanced solution is used for the treatment of abdominal aortic aneurysms (AAAs) in adults who have compatible anatomies. The system is uniquely designed with a three-piece structure which includes both suprarenal and infrarenal active fixation capabilities, improving stability and efficiency during endovascular aneurysm repair (EVAR). Key features of this system include in situ limb adjustability for accurate deployment, enhanced proximal sealing to avoid leaks, and superior lock stent technology to reduce the chance of migration.
Which primary segments of the endovascular aneurysm repair devices market are driving growth and industry transformations?
The endovascular aneurysm repair devices market covered in this report is segmented -
1) By Aneurysm Type: Abdominal Aortic Aneurysms (AAA), Thoracic Aortic Aneurysms (TAA), Peripheral Aneurysms
2) By Application: Endovascular Grafts, Stent-Grafts, Catheters, Delivery Systems, Imaging Systems
3) By End User: Hospitals, Ambulatory Surgical Centers, Specialty Clinics
Subsegments:
1) By Abdominal Aortic Aneurysms (AAA): Infrarenal AAA, Juxtarenal AAA, Pararenal AAA
2) By Thoracic Aortic Aneurysms (TAA): Ascending Aortic Aneurysms, Aortic Arch Aneurysms, Descending Aortic Aneurysms
3) By Peripheral Aneurysms: Femoral Aneurysms, Popliteal Aneurysms, Iliac Aneurysms, Renal Aneurysms
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Which geographical regions are pioneering growth in the endovascular aneurysm repair devices market?
North America was the largest region in the endovascular aneurysm repair devices market in 2024. The regions covered in the endovascular aneurysm repair devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the endovascular aneurysm repair devices market landscape?
Major companies operating in the endovascular aneurysm repair devices market are Cardinal Health Inc., Johnson & Johnson, Abbott Laboratories, Medtronic Plc, Royal Philips, Boston Scientific, Terumo Corporation, Biotronik, L. Gore & Associates Inc., AorTech International, Teleflex Incorporated, Getinge AB, Cook Medical Group, Lombard Medical Technologies plc, Merit Medical Systems, Penumbra Inc., Volcano Corporation, Endologix Inc., Scranton Gillette Communications, Medico S.p.A
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What Is Covered In The Endovascular Aneurysm Repair Devices Global Market Report?
•Market Size Forecast: Examine the endovascular aneurysm repair devices market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the endovascular aneurysm repair devices market for a structured understanding.
•Key Players Overview: Analyze major players in the endovascular aneurysm repair devices market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the endovascular aneurysm repair devices market.
•Segment Contributions: Evaluate how different segments drive overall growth in the endovascular aneurysm repair devices market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the endovascular aneurysm repair devices market.
•Industry Challenges: Identify potential risks and obstacles affecting the endovascular aneurysm repair devices market.
•Competitive Landscape: Review strategic developments in the endovascular aneurysm repair devices market, including expansions, agreements, and new product launches.
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