Endovascular Abdominal Aortic Aneurysm Repair Devices Market

Report Description

Endovascular Abdominal Aortic Aneurysm Repair Devices Market Outlook 2032 

The global endovascular abdominal aortic aneurysm repair devices market size was USD 3.3 Billion in 2023 and is likely to reach USD 5.2 Billion by 2032, expanding at a CAGR of 5.2% during 2024–2032. The market growth is attributed to the increasing number of patients with abdominal aortic aneurysms and the rising preference for a minimally invasive procedure.

Abdominal aortic aneurysm (AAA) is swelling in the abdominal aorta that is treated with minimally invasive medical procedures called endovascular AAA repair devices. Endovascular aneurysm repair devices support the weakening artery walls at the aneurysm location after being placed through a tiny incision in the groin. Aortic endograft and stent-graft are two forms of endovascular abdominal aortic aneurysm repair devices.

Endovascular AAA repair devices are useful in reducing the risk of aneurysm rupture and enhancing patient outcomes. Some of the threats associated with using these devices include the risk of infection and device failure. Patients are required to weigh the advantages and disadvantages of the procedure with their physician to ascertain whether an endovascular AAA repair is the superior course of action for them.

• In 2019, the Centers for Disease Control and Prevention estimated that around 75% of all abdominal aortic aneurysms in the US were caused by a history of smoking. According to the US Preventive Services Task Force, even in the absence of symptoms, men who have ever smoked and are between the ages of 65 and 75 are required to have an ultrasound screening for AAA.

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Impact of Artificial Intelligence (AI) on the Endovascular Abdominal Aortic Aneurysm Repair Devices Market

Artificial intelligence (AI) has a significant impact on the endovascular abdominal aortic aneurysm repair devices market. AI aids in the diagnosis and monitoring of abdominal aortic aneurysms (AAAs) by analyzing medical images, such as CT scans and ultrasounds. It also identifies biomarkers that predict treatment response in individual patients, allowing for personalized treatment plans. AI aids in drug discovery and development by analyzing large datasets of molecular and clinical data, identifying new drug targets, and developing new therapies for AAAs.

In clinical trials, AI designs efficient and effective trials for EVAR devices, identifying appropriate patient populations, predicting treatment response, and monitoring safety and efficacy in real time. AI also improves healthcare operations by improving scheduling, resource allocation, and patient communication, thereby reducing costs, improving patient outcomes, and increasing patient satisfaction.

AI enhances the design, manufacturing, and distribution of EVAR devices by optimizing design, predicting performance, and identifying potential manufacturing defects. However, challenges related to data privacy, security, and regulation are required to be addressed to fully realize the potential of AI. Companies such as Medtronic, W. L. Gore & Associates, and Cook Medical are exploring AI in their research and development efforts. Overall, AI has the potential to significantly impact the EVAR devices market by improving the diagnosis, monitoring, and treatment of AAAs, as well as healthcare operations and device design, manufacturing, and distribution.

Endovascular Abdominal Aortic Aneurysm Repair Devices Market Dynamics

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Major Drivers

Increasing number of AAA patients is driving the demand for precise treatment and advanced treatment, which is accelerating the global market.

• According to the Gov.UK, about 274,800 males were screened from April 2021 to March 2022, of which 79.0% were diagnosed with abdominal aortic aneurysms.

Rising preference for minimally invasive procedures is driving the global market. Minimally invasive surgery requires a small incision and results in reduced blood loss compared to traditional surgery. Minimally invasive procedures are expected to rise significantly during the forecast period owing to their several advantages, thereby propelling the market.

Product developments by major market players are accelerating the global market. Several companies are establishing advanced products with regulatory approvals, which expands the options for cost-effective and personalized treatments. Moreover, the rising adoption of endovascular AAA repair devices due to the increasing awareness about their benefits is fueling the market.  

Existing Restraints

High cost of endovascular abdominal aortic aneurysm repair devices is restraining the global market. Moreover, the lack of reimbursement policies is another factor hindering the market. The manufacturing cost of these advanced and personalized devices is comparatively higher than traditional devices, which further increases final product costs. This cost factor deters potential users from using these devices, thus hampering the market.

Emerging Opportunities

Rising advancements in medical devices create lucrative opportunities in the market. The development of advanced materials, such as biodegradable polymers and shape-memory polymers, improves the performance and safety of endovascular aneurysm repair (EVAR) devices. These materials create flexible, durable, and biocompatible devices that well conform to the anatomy of the aorta, reducing the risk of complications.

Minimally invasive procedures are influencing the development of small, flexible, and easy-to-deliver EVAR devices, which treat a wide range of AAAs, including those with complex anatomies, and reduce the need for open surgical repair. Robotic-assisted surgery is another emerging area in EVAR, which improves the accuracy and precision of EVAR procedures, reduces the risk of complications, and improves patient outcomes.  Image-guided surgery is also expected to improve the accuracy and safety of EVAR procedures, reducing the risk of complications such as stent misplacement and end leaks.

Combination therapies, which combine EVAR devices with drug-eluting technologies, is further expected to improve the effectiveness and durability of EVAR procedures, reducing the risk of complications and improving patient outcomes.

Scope of the Endovascular Abdominal Aortic Aneurysm Repair Devices Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Endovascular Abdominal Aortic Aneurysm Repair Devices Market Segment Insights

Products Segment Analysis

Based on products, the endovascular abdominal aortic aneurysm repair devices market is divided into aneurx AAA stent-graft system, gore excluder, zenith flex, talent abdominal stent graft, and others. The gore excluder segment is expected to expand at a significant growth rate during the projection period owing to its flexibility and ease of administration with a small incision on the skin. Moreover, the safety and efficacy of gore excluder makes it a preferable choice among all other products. Rising approval for gore excluders in most countries is expected to expand the global market in the coming years.

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Type Segment Analysis

On the basis of type, the global market is bifurcated into synthetic fabric graft and stent-graft. The stent-graft segment is anticipated to register a considerable CAGR in the coming years, as it is a minimally invasive option, requiring small incisions, and results in reduced blood loss. The high support and stability that the stent-graft provides with reduced hospital stays and cost-effectiveness contribute to the segmental growth. Furthermore, the stents are personalized and provide improved outcomes due to being customized.

Material Segment Analysis

On the basis of material, the endovascular abdominal aortic aneurysm repair devices market is segmented into metal and polymer. The polymer segment is expected to register a robust growth rate during the forecast period owing to its extended durability and low complications. Furthermore, the improved flexibility and stability of this material is expected to propel the segment.

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Age Group Segment Analysis

Based on age group, the endovascular abdominal aortic aneurysm repair devices market is divided into geriatric population, young population, and pediatric population. The geriatric population segment is expected to expand at a significant growth rate during the projection period owing to the high risk of infections and other abnormalities in geriatric people. Moreover, the severity of the disease is comparatively high in the geriatric population as compared to others, which is fueling the demand for a dedicated treatment option that repairs and cure precisely, thereby boosting the segment. 

End-user Segment Analysis

On the basis of end-user, the endovascular abdominal aortic aneurysm repair devices market is segmented into hospitals, research institutes, and specialty clinics. The hospitals segment is expected to register a substantial growth rate during the forecast period due to the presence of skilled medical professionals in hospitals and advanced healthcare infrastructure in developed countries. Furthermore, the severity of the procedure requires complete and quality care, which is easily available in the hospitals, thus driving the segment.

Regional Analysis

In terms of region, the global endovascular abdominal aortic aneurysm repair devices market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the forecast period owing to the rising instances of abdominal aortic aneurysms (AAA). Moreover, the favorable reimbursement policies for the treatment of abdominal aortic aneurysms encourage people to adopt costly procedures, including minimally invasive procedures, which boost the market. The market growth is further attributed to the presence of major key players in this region focusing on the development of advanced medical devices.

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