Research Nester’s recent market research analysis on “Aortic Aneurysm Market: Global Demand Analysis & Opportunity Outlook 2035 delivers a detailed competitor’s analysis and a detailed overview of the global aortic aneurysm market in terms of market segmentation by type, product type, treatment type, and by region.
Increasing Tobacco Smoking Occurrence in the Emerging and Developed Countries to Drive Growth of the Global Aortic Aneurysm Market
Although smoking incidence is decreasing in several low- and middle-income countries, the developing world is likely to see an increase in smoking-related illnesses and fatalities due to the relatively high population growth rate. The need for aortic aneurysm products is likely to rise as a result that includes stent grafts and catheters. Between 2005 and 2030, it is predicted that tobacco will have killed about 40 million individuals in developed countries.
Moreover, there has been a surging adoption of 3D technology for repairing aneurysms. For instance, Cedar Medical in the United Kingdom developed new dynamic morphology correction technology that helps surgeons to work more correctly, rapidly, and with less contrast. Surgeons instead rely on dynamic 3D picture overlays of the human body built by predictive computer models based on the patient's preoperative x-rays and anatomy. This model enables surgeons to reduce iodine contrast and the risk to the kidneys during surgery, as well as reduce radiation exposure and time on the operating table. Also, Three-dimensional (3D) printing aids in the development of devices such as grafts for the treatment of aortic illnesses by generating prototypes from virtual objects in computer-aided design (CAD) software.
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Some of the major growth factors and challenges that are associated with the growth of the global aortic aneurysm market are:
Growth Drivers:
· Increase in Geriatric Population Globally
· Increasing Prevalence of Atherosclerosis
Challenges:
Companies face major restraints in the market because of the high initial investment requirements. Traditional machinery needs to be replaced by modern equipment in order to implement modern technology. This requires the renovation of infrastructure, machinery, and manpower which adds to the cost. The rigorous regulatory criteria connected with the creation, testing, and approval of aortic aneurysm stent grafts add time to the overall manufacturing process. This is yet another restricting aspect that is predicted to have a negative impact on market growth.
By type, the global aortic aneurysm market is segmented into abdominal aortic aneurysm (AAA), and thoracic aortic aneurysm (TAA). The thoracic aortic aneurysm (TAA) segment is to account for the highest CAGR of 6.5% over the forecast period. Atherosclerosis is the major common source of thoracic aortic aneurysms. A family history of aortic aneurysms or a genetic condition related to the body's connective tissues increases TAA risk. Men are much more likely to develop a TAA, than women. Most commonly, the condition occurs in people in their 50s and 60s. Hence, it is predicted to contribute to the growth of the segment in the market.
The Europe aortic aneurysm market also shows promising CAGR growth through 2035. The market in the region registered a revenue of USD 913.3 million in 2022. The expansion of the market can be attributed majorly to the favorable government policies governing the aortic aneurysm market. Also, significant investments & initiatives by governments, and private entities in improving healthcare infrastructure in this region. For instance, the Public Health England screening program NHS in Europe is a national population screening program that helps identify healthy people who may be at risk of developing an aortic aneurysm. This, in turn, permits initial treatment and up-to-date decisions.
This report also provides the existing competitive scenario of some of the key players of the global aortic aneurysm market which includes company profiling of W. L. Gore & Associates, Inc., MicroPort Scientific Corporation, LLC, Endologix LLC, Terumo Corporation, Boston Scientific Corporation, and others.
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