Exploring Key Insights of the Endovascular Aneurysm Repair Devices Market: Growth Prospects, Emerging Trends, and Opportunities
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What key factors are powering the surge in the endovascular aneurysm repair devices market right now?
The market size for endovascular aneurysm repair devices has seen substantial growth in the recent past. It is projected to surge from $2.43 billion in 2024 to $2.63 billion in 2025, showcasing a compound annual growth rate (CAGR) of 8.2%. The historic period’s market expansion is linked to better patient results from EVAR procedures, increased accuracy and safety in EVAR technology, beneficial reimbursement policies, promising clinical trial outcomes, and regulatory consents.
How fast Is the endovascular aneurysm repair devices market expected to grow, and what’s its future value?
The market for endovascular aneurysm repair devices is anticipated to see substantial growth in the coming years, reaching a value of $3.56 billion in 2029 with a compound annual growth rate (CAGR) of 7.9%. Factors driving growth during the predictive period include a rising demand for minimally invasive procedures, the evolution of safer and highly effective devices, a move from open surgery to less invasive techniques, advancements in imaging and diagnostic tools, and enhanced surgical results. The forecast period will witness trends like progress in stent graft technology, improved patient outcomes with decreased recovery time, the incorporation of imaging and navigational technologies in EVAR procedures, the creation of hybrid EVAR devices, along with the advancement and approval of regulatory measures for new EVAR devices.
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What are the leading drivers of growth in the endovascular aneurysm repair devices market?
The endovascular aneurysm repair devices market is poised for expansion, propelled by the surge in demand for minimally invasive surgical treatments. These surgical procedures involve fewer disruptions to the body and smaller incisions, using sophisticated tools and methods. Factors such as quicker recovery periods, diminished likelihood of complications, smaller incisions resulting in reduced discomfort, and enhanced accuracy and results are fueling the demand for minimally invasive surgeries. Endovascular aneurysm repair (EVAR) devices support such surgeries by strengthening the blood vessel walls and rerouting blood flow, thus minimizing the chance of an aneurysm rupture. For instance, in January 2024, it was reported that 415 da Vinci surgical systems (robot-assisted surgery systems that employ a minimally invasive surgical approach) had been installed by Intuitive Surgical Inc., a producer of robotic products based in the US, in the final quarter of 2023. This marked a 12% rise from 2022. Consequently, the rise in minimally invasive surgeries is stimulating the expansion of the endovascular aneurysm repair devices market.
What are the key segments defining the endovascular aneurysm repair devices market?
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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Who are the key players steering the development of the endovascular aneurysm repair devices market?
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
What are the key trends shaping the future of the endovascular aneurysm repair devices market?
Major companies operating in the endovascular aneurysm repair devices market are focusing on developing innovative solutions, such as abdominal stent-graft systems, to enhance patient outcomes by improving device durability, procedural success rates, and ease of deployment. An abdominal stent-graft system refers to a medical device used in endovascular aneurysm repair (EVAR) procedures to treat abdominal aortic aneurysms (AAA). For instance, in August 2024, Terumo India, an India-based medical technology company, launched the TREO Abdominal Stent-Graft System, a cutting-edge solution for treating abdominal aortic aneurysms (AAAs) in adults with suitable anatomies. This system features a unique three-piece design that includes both suprarenal and infrarenal active fixation capabilities, enhancing stability and effectiveness during endovascular aneurysm repair (EVAR). Key attributes include in situ limb adjustability for precise deployment, improved proximal sealing to prevent leaks, and superior lock stent technology to minimize migration risks.
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Which regions are most influential in expanding 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.
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