Aortic Stents Grafts Market: Abdominal Aortic Stent Graft to Remain Dominant Product Type Through 2027
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There has been a conscious shift from conventional surgeries to minimally invasive surgeries owing to the inherent benefits such as reduced damage both during and after the surgical procedure, faster recovery, efficient pain management protocols, effective long-term functionality, and shorter hospital stay. This increasing preference for minimally invasive surgeries is boosting the global demand for aortic stents grafts. Navigation technology has been introduced in aortic stents grafts to ensure perfect positioning without outliers and concomitant risk of increased wear and implant failure. An increase in demand for aortic stents grafts coupled with increased product innovation is creating lucrative opportunities for manufacturers of aortic stents grafts.
Abdominal aortic stents grafts to be widely adopted in the coming years
There are two types of aortic stents grafts covered in the scope of this report – Abdominal Aortic Stent Graft and Thoracic Aortic Stent Graft. Of these product types, the abdominal aortic stent graft segment is the largest, expected to reach a market valuation of about US$ 2.5 Bn by the end of the forecast period in 2027. This segment is anticipated to grow at a CAGR of 4.3% during the forecast period. The thoracic aortic stent graft segment is expected to grow at a CAGR of 4.1% in terms of value during the period of assessment. The abdominal aortic stent graft segment is expected to be the most lucrative among the product types, with a market attractiveness index of 1.5.
New trends and opportunity areas in the global aortic stents grafts market
Abdominal aortic stent grafts and thoracic aortic stent grafts are currently the most advanced products in the aortic stents grafts industry as they have shown promising results in many diagnostic areas. To develop cost-effective and cost-efficient medical devices, various governments in developed countries are actively funding R&D activities to facilitate innovation in new product offerings in aortic stents grafts. This presents good opportunities for manufacturers of aortic stents grafts to launch innovative products in the global market. Another opportunity area for key players in the aortic stents grafts market presents itself in the form of a rapid increase in the geriatric population worldwide.With age, prevalence of aortic aneurysm increases and aortic stents grafts surgeries have proven to provide better clinical outcomes than conventional modes of treatment.
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Several manufacturers of aortic stents grafts are focussing on key emerging markets owing to a huge growth potential and increased distribution channels. The aortic stents grafts market has a huge growth potential in populated, growing economies such as China, India, Brazil, and some South African countries. These countries have higher rates of aortic aneurysm due to rising instances of diabetes among the population, a high rate of obesity, and high prevalence of other lifestyle diseases. Changes in disease patterns triggered by lifestyle modifications, rising affluence of people, improved access to healthcare services and rise in demand for quality healthcare make emerging markets highly lucrative for aortic stents grafts companies. However, emerging markets are flooded with cheap local manufacturers and are governed by stringent regulatory policies and approval processes. Further, the lack of adequate healthcare infrastructure and affordability of medical treatments in emerging economies can pose hurdles to the entry and subsequent growth of global aortic stents grafts manufacturers.
Emerging countries in the Asia pacific such as China and India are the current hotspots for investment opportunities because of a high rate of endovascular diagnosis, quality improvisations, increasing number of partnerships, and healthcare modernisation in these countries. To increase revenue share, medical device manufacturing companies are focussing on the development of aortic stents grafts such as abdominal aortic stents grafts and thoracic aortic stents grafts to indirectly pump revenue growth of the global aortic stents grafts market. Further, an increasing demand for aortic stents grafts from end users such as hospitals and ambulatory surgical centres for better output and performance will generate opportunities for launching novel aortic stents grafts products in the global market in the long run.
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