Analysis of Market Trends and Growth Drivers in the Aortic Aneurysm Market
The Aortic Aneurysm Market is projected to grow from USD 5.43 Billion in 2024 to USD 10.39 Billion by 2032, exhibiting a CAGR of 7.48% during the forecast period (2024 - 2032).
An aortic aneurysm is an abnormal enlargement or bulging of the wall of the
aorta. Aortic aneurysm has two types such as an abdominal aortic aneurysm (AAA)
and thoracic aortic aneurysm (TAA). An abdominal aortic aneurysm is an aneurysm
in the part of the aorta that passes through the abdomen while thoracic aortic
aneurysm is an aortic aneurysm that presents mainly in the thorax. Some of the
market growth factors include rising prevalence of tobacco smoking in the
developed and developing countries, worldwide growing elderly population
coupled with the increasing burden of cardiovascular diseases, favorable
reimbursement scenarios for surgical treatment of aortic aneurysms, and
mounting technological advancements in products. In contrast, the presence of
low reimbursement rates in the developing countries and higher cost of aortic
aneurysm treatment and devices are anticipated to hinder the market growth
during the next five years.
Regional Analysis
The global aortic aneurysm market has been segmented by region into the
Americas, Europe, Asia-Pacific, and the Middle East & Africa. Based on
region, the Americas would continue its supremacy over the forecast period
attributed to the presence of sophisticated medical and healthcare
infrastructure and major market participants, higher spending on the
healthcare, and frequent launches of novel devices in the US and Canada.
Europe would be the second-largest value contributor in the aortic aneurysm
market due to the highest prevalence of tobacco smoking and the presence of
favorable initiatives by several organizations to reduce the burden of aortic
aneurysm. For instance, the World Health Organization (WHO) stated that
presently, Europe has the highest prevalence of tobacco smoking among adults
(28%) and some of the highest prevalence of tobacco use by adolescents
Asia-Pacific is likely to witness the fastest market growth during the
forecast period due to growth in increasing geriatric population and prevalence
of cardiovascular diseases & hypertension, and growing awareness about
aortic aneurysm treatment, and developing healthcare infrastructure in India,
China, and Australia. For instance, WHO reported that one million people in the
World Health Organization Western Pacific Region die each year from
cardiovascular disease caused by tobacco use and more than 1 in 5
cardiovascular diseases, such as heart attack and stroke, result from smoking.
The Middle East & Africa has the least share of the global aortic
aneurysm market. In addition, the major market share of the region would be
held by the Middle Eastern region. Several studies reported that aortic
aneurysm is very rare in the Middle East and very few lives are threatened by
deadly aortic aneurysms annually in the Middle East region.
Segmentation
The global aortic aneurysm market has been segmented into type, product,
treatment, end user, and region.
By type, the market has been segmented into abdominal aortic aneurysm (AAA)
and thoracic aortic aneurysm (TAA).
On the basis of product, the market has been divided into stent-grafts, catheters,
and others.
By treatment, the market has been classified into endovascular aneurysm
repair (EVAR) and open surgical repair (OSR).
Based on end user, the market has been categorized into hospitals and
clinics, ambulatory surgery centers (ASCs), and others.
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