The global Aortic Aneurysm Market, valued at USD 3.8 billion in 2022, is projected to reach USD 5.4 billion in 2032, growing at a CAGR of 3.14% during the forecast period. The primary drivers of this growth are the development of minimally invasive treatments for aortic aneurysms and the increased prevalence of the disease.
Aortic aneurysm is a serious medical condition that can be life-threatening if left untreated. It occurs when the walls of the aorta weaken and bulge abnormally, most commonly in the thoracic and abdominal aorta. Although the incidence of aortic aneurysms is higher in people over 65, the global aging population is contributing to an increase in the disease, as are risk factors such as smoking, high blood pressure, and high cholesterol levels.
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Early diagnosis and treatment are essential, and the value of these is becoming more widely recognized, thereby driving market growth. The advancement of minimally invasive surgeries, such as endovascular repair, is expected to drive revenue growth by offering less invasive and quicker recovery options compared to open surgery.
Key Players in the Aortic Aneurysm Market –
Some of the key players in the global aortic aneurysm market include:
- Medtronic
- Cook Medical
- Endologix
- Terumo Corporation
- Gore Medical
- Cardinal Health
- L. Gore Associates
- Abbott Laboratories
- Lombard Medical
- Braun Melsungen AG
These companies are focused on expanding their product portfolio and launching innovative products to meet rising demand from various regions. They also engage in strategic partnerships and collaborations to strengthen their position in the market.
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Rising numbers of government initiatives aimed at spreading awareness about aortic aneurysms, encouraging early detection and treatment, are also driving market expansion, as are lifestyle disorders such as obesity, diabetes, and hypertension. Increased research and development efforts aimed at creating new therapies and technologies are expected to have a positive impact on the market.
However, the high cost of care and the absence of reimbursement schemes for aortic aneurysm procedures in developing nations could restrain revenue growth to some extent. The global market for aortic aneurysm is regulated by government bodies such as the FDA in the US, CMS, and CDSCO in India, among others.
The market is segmented by product type, with the ascending segment accounting for the largest revenue share in 2022. The leading players in the aortic aneurysm market are focused on expanding their product portfolio and launching innovative products to meet rising demand from various regions.
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