Branched Stent Grafts Market Outlook 2031
The global branched stent grafts market size was valued at USD 303.09 Million in 2022 and is anticipated to reach USD 600.85 Million by 2031, expanding at a CAGR of 7.9% during the forecast period, 2023-2031. The global branched stent grafts market's products are used in a variety of EVAR [endovascular aneurysm repair] operations.
EVAR for significant aortic diseases such as aneurysms, traumatic ruptures, and dissections has acquired universal surgeon and patient acceptance owing to lower rates of morbidity and mortality. Also, slow growth and poor net sales were seen by companies in the vascular stents market.
Elective procedures were a low priority when hospitals shifted resources to ICUs, and the majority of them were postponed, affecting product demand. Furthermore, a quick change in the practice of vascular surgery had a significant impact on intensive and anesthetic care.
Since its inception in the early 1990s, EVAR has been proven to be a viable therapy option for abdominal aortic aneurysm [AAA]. The global population of people aged 60 and up, who are more likely to develop AAA, is growing, making it a high-impact key driver for market expansion over the forecast period.
Branched Stent Grafts Market Trends, Drivers, Restraints, and Opportunities
- Rising frequency of endovascular aneurysm repair [EVAR] procedures, improvements in patient care quality, and advancements in medical technology are few of the primary reasons driving the global branching stent grafts market.
- The global branching stent grafts market is driven by rising geriatric population and high frequency of AAA [abdominal aortic aneurysm].
- Introduction of the new coronavirus and following pandemic has resulted in a drop in sales, slower growth rate, and the postponement of elective surgeries which is estimated to hamper the market.
- the global branching stent grafts market is predicted to rise significantly due to the rising demand for minimally invasive surgical treatments.
Scope of Branched Stent Grafts Market Report
The report on the global branched stent grafts market includes an assessment of the market, size, share, trends, segments, and regional markets. The study includes an overview as well as dynamics.
Branched Stent Grafts Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Iliac Stent and Others), Applications (FEVAR, Chimney, and Others)
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players covered in the Report
Abbott, Alvimedica, Biotronik, Boston Scientific Corp, Cardinal Health (Cordis), Cook Medical, Endocr GmbH, Eucatech AG, Medtronic, Merit Medical Systems.
Branched Stent Grafts Market Segment Insights
Types Segment Analysis
Based on types, the global branched stent grafts market is bifurcated into iliac stent and others. The iliac stents segment accounted for a considerable market share in 2021 and is expected to grow at a significant CAGR during the forecast period. Increasing incidence of cardiovascular diseases [CVDs] over the world are expected to drive the market.
Rapid technical improvements and widespread acceptance of stenting operations are expected to enhance the segment's growth during the forecasted period. The other segment is expected to hold a substantial market share during forecast period.
The others segment includes gastric, renal, femoral, celiac, fenestrated/branched, and super mesenteric stent graft systems. Growth of the market is attributed to increasing geriatric population with rising incidence of digestive problems.
Applications Segment Analysis
Based on applications, the global branched stent grafts market is segmented into EVAR. The EVAR segment is further sub-segmented into fenestrated endovascular aortic aneurysm repair [FEVAR], chimney, and others. The others segment held a significant market share in 2021.
Recent advancements in branched stent grafts have made it easier to treat a variety of aortic aneurysms, including those involving the visceral arteries. Furthermore, new generation iliac bifurcated devices have good intraoperative and long-term results, which helps the market expand.
The chimney segment is expected to grow at a substantial CAGR during the projected period. Endovascular aortic repair operations are becoming increasingly popular among patients around the world. In the United States, endovascular stent grafts are the preferred therapy for around 80% of aortic aneurysm cases. This is projected to fuel the market.
In terms of regions, the global branched stent grafts market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held a significant revenue share in 2021. The presence of well-developed healthcare infrastructure, significant actors, and reimbursement coverage in the region propel the market.
Furthermore, due to the huge presence of key participants, the regional market is quite competitive. On the other hand, Asia Pacific is anticipated to dominate the market during forecast period. The growth of market is attributed to growing healthcare spending and rapidly expanding medical tourism industry. The presence of high-quality healthcare infrastructure, convenience, and cheap treatment alternatives is likely to drive the regional market.
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
- Boston Scientific Corp
- Cardinal Health (Cordis)
- Cook Medical
- Endocr GmbH
- Eucatech AG
- Merit Medical Systems
Key players in the global branched stent-grafts market include Abbott, Alvimedica, Biotronik, Boston Scientific Corp, Cardinal Health (Cordis), Cook Medical, Endocr GmbH, Eucatech AG, Medtronic, Merit Medical Systems.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.