Aortic Aneurysm Market Size, Share & Trends Analysis Report By Type (TAA, AAA), By Treatment (OSR, EVAR), By Product (Stent Grafts, Catheters), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global aortic aneurysm market size was valued at USD 4.7 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 10.61% from 2023 to 2030. The increasing prevalence of atherosclerosis and the rising geriatric population are major factors driving the market. In addition, the rising demand for minimally invasive procedures and favorable health reimbursement are augmenting the growth.

Increasing cases of cardiovascular diseases, rapid adoption of sedentary lifestyles, and unhealthy eating habits are raising the cases of AA across the globe. The rising geriatric population is also adding to the patient pool. According to the U.S. Department of Health and Human Services, this population group in the U.S. was 54 million in 2019, which is almost 16% of the total population. Moreover, this number is projected to reach 80.8 million by 2040 and 94.7 million by 2060. Thus, the rapidly aging population is expected to increase the overall number of AA repair procedures in the next 5 years. All those above 65 years are at a higher risk of developing aortic aneurysms as the walls of the aorta weaken by this age; the risk also increases due to other cardiovascular diseases.

Smoking significantly increases the risk of developing aortic aneurysms. According to the WHO, around 22.3% of the world population used tobacco in 2020. The US Preventive Services Task Force considered smoking a major risk factor associated with AAA among men aged 65 to 75 years who have ever smoked. Continued smoking in individuals with an AAA is associated with both increased rates of expansion and the risk of rupture. Smoking is likely to increase the risk of perioperative death and late mortality among patients who are undergoing surgical AA repair.

COVID-19 aortic aneurysm treatment market impact: 4.0% decline from 2019 to 2021

Traditionally existing surgical procedures are slowly being replaced by minimally invasive surgeries such as EVAR in most advanced countries such as the U.S., the U.K., and Japan. Traditional surgery requires an incision to access the internal body parts for operation, which require high precision, deep concentration, and expertise in surgical operations. However, the advantages of minimally invasive procedures include less blood loss, limited to no scarring, smaller incisions, and shorter hospital stays with faster recovery times, often with better outcomes. Thus, increasing demand for minimally invasive EAVR procedures is favoring market growth.

Type Insights

The abdominal aortic aneurysm segment dominated the AA treatment market in 2022 with 70.9% and is witness fastest growth of 10.75% during the forecast period. AAA occurs more commonly in the lower abdomen and most cases of AAA occur either under the kidney or in the pararenal portion of the lower abdomen. Overall, the number of repairs performed is much higher for subrenal and pararenal aneurysms than for TAA. According to an article published in the journal Circulation, around 2.5% of adults over the age of 65 have AAA. On the other hand, TAA only occurs 4.5% to 5.9% per 100,000 person-years.

Robust R&D and strong government support for product approvals are propelling the segment growth. For instance, in March 2021, Cook Medical, Inc. received the U.S. FDA breakthrough device designation for Zenith Fenestrated+ Endovascular Graft (ZFEN+). It is used for treating intravascular AA.

The steady growth of the TAA segment can be attributed to the low incidence of TAA and the unavailability of advanced devices for its management by endovascular methods. However, with the increasing acceptance of minimally invasive techniques worldwide, coupled with technological advancement to reduce longer hospital stays and the overall treatment cost, this segment is anticipated to gain momentum in the coming years.

Products Insights

The stent grafts segment accounted for the largest revenue share of over 85.0% in 2021. Technological advances in stent-graft design are projected to render substantial growth to the segment during the forecast period. For instance, advanced stent graft systems are being launched with inbuilt imaging and delivery catheter. These devices can be used in situations such as aneurysms and major vascular injuries. Based on the product, the market is bifurcated into stent grafts and catheters.

Nellix and Ovation Stent Grafts are a new generation of prostheses that use polymer technology to treat abdominal aortic aneurysms. CT scans can be done postoperatively. The benefits of stent-grafted intravascular repair continue to fuel the growth of the segment. In September 2021, Terumo Corporation initiated PANTHER, global research on knitted and woven surgical grafts. Such research initiatives by key players are likely to bode well for segment growth.

The catheters segment is anticipated to witness steady growth during the forecast period. The stent graft is placed inside of an AA with the help of a long, very thin, soft, plastic tube called a delivery catheter. Two catheters are used while performing the EVAR. The first catheter is inserted into an artery in the leg near the groin. Second, the delivery catheter is inserted through the vessel into the aneurysm to guide the stent into place. A delivery catheter containing the compressed stent graft is inserted through the vessel into the aneurysm to guide the stent into place. The delivery catheter is removed once the stent graft is in position and has been fastened into place by the surgeons.

Treatment Insights

The endovascular surgery segment dominated the market and accounted for the maximum share of 74.6% in 2022 and is projected to register fastest growth of 10.84% during the forecast period. Increasing acceptance of endovascular treatment worldwide, technological advancement to reduce hospital stays, and the overall morbidity associated with aortic aneurysm repair are primary factors contributing to the growth of the segment. According to Endologix, out of the total procedures performed in the U.S., in 2017, 75% of them were EAVR. Based on treatment, the market is divided into open surgical repair (OSR) and endovascular aneurysm repair (EVAR).

In addition, new product launches are anticipated to propel the growth of the segment. For instance, Endologix's Chimney Endovascular Aneurysm Sealing (ChEVAS) system was approved by the FDA in July 2021. With the Nellix 3.5 endograft and parallel visceral stents, this system is an innovative endovascular therapy for patients with pararenal, juxtarenal, and suprarenal AAA.

The Open Surgical Repair (OSR) segment is estimated to witness moderate growth over the forecast period. Open repair is preferred for treating simple and uncomplicated cases in low-risk patients and for many anatomies of TAA where very limited endovascular options are available. In the emerging economies of Asia, Latin America, and the Middle East, open repair is still considered the method of choice owing to the low cost and unavailability of advanced technology.

End-use Insights

The hospital's segment held the largest revenue share of over 72.5% in 2022. Hospitals are the most preferred setting by physicians and vascular surgeons, particularly in developing countries. The elaborate setup in hospitals enables treating complex cases that cannot be managed in ASCs. Along with this, favoring reimbursement policies are expected to drive the segment.

Key players like Terumo Corporation, Medtronic, Endologix LLC, Microport Scientific Corporation, and Cook are mainly targeting hospitals for the distribution of their advanced stent graft systems and other AA repair devices. For instance, Microport distributes around 200 approved products in more than 5,000 hospitals across 80 countries. Similarly, Endologix LLC sells its EVAR products to hospitals in the U.S., Canada, New Zealand, South Korea, and Europe.

Ambulatory Surgery Centers is anticipated to exhibit highest CAGR of 12.51% during the forecast period. This is due to the advantages provided by the ASCs such as shorter hospital stays and lower overall treatment costs. ASC is further expected to grow due to the increased prevalence of AA, particularly in industrialized nations, and the necessity for rapid treatment.

Regional Insights

North America held the largest revenue share of over 56.6% in 2022 due to rapid technological advancements, a shift toward minimally invasive procedures, and the rising incidence of AA. The Screening Abdominal Aortic Aneurysms Very Efficiently (SAVE) Act enforced by the U.S. government in 2014 offers one free AAA screening for men who have smoked at least once in their life and women with a family history of the condition. Moreover, high reimbursements offered by the governments are aiding the overall market growth. For instance, Medicare in the U.S. covers one abdominal aortic ultrasound for patients at risk.

Europe is anticipated to account for a significant share during the forecast period due to technological advancements and the high prevalence of atherosclerosis. International organizations such as the National Health Service (NHS) are working toward reducing the incidence of aortic aneurysms. For instance, the Public Health England screening program by the 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, enables early treatment and informed decisions.

Asia Pacific is anticipated to grow at the fastest CAGR of 11.41% during the forecast period on account of the rising aging population, the prevalence of cardiovascular diseases and hypertension, and growing disposable income. The Asian Development Bank (ADB) estimates that one in four Asians and Pacificians will be over 60 by 2050. Between 2010 and 2050, the number of older people in the region will triple, reaching about 1.3 billion. Thus, the presence of a sizeable aging population is favoring the growth of the market in the Asia Pacific.

Key Companies & Market Share Insights

The market is moderately fragmented with a majority of mid-and small-sized companies. Mergers & acquisitions are among the key strategies adopted by most players to strengthen their position. For instance, in November 2019, Terumo Corporation acquired Aortica Corporation, a firm based in the U.S. dedicated to developing the science of individualized vascular therapy. Aortica has developed Aorta Fit, an automated case planning software that accurately aligns the fenestration on the endograft to the unique location of each patient's branch artery during fenestrated intravascular aortic repair (FEVAR). Some prominent players in the global aortic aneurysm market include:

• Medtronic

• Endologix LLC

• Gore Medical (W. L. Gore & Associates)

• MicroPort Scientific Corporation

• Cook

• JOTEC (Cryolife, Inc.)

• Cardinal Health

• Terumo Corporation

• Lombard Medical

Aortic Aneurysm Market Report Scope

Global Aortic Aneurysm Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2030. For this study, Grand View Research has segmented the global aortic aneurysm market report based on type, treatment, product, end-use, and region:

• Type Outlook (Revenue, USD Million, 2016 - 2030)

  • Thoracic Aortic Aneurysm (TAA)

  • Abdominal Aortic Aneurysm (AAA)

• Treatment Outlook (Revenue, USD Million, 2016 - 2030)

  • Open Surgical Repair (OSR)

  • Endovascular Aneurysm Repair (EVAR)

• Product Outlook (Revenue, USD Million, 2016 - 2030)

  • Stent Grafts

  • Catheters

• End-use Outlook (Revenue, USD Million, 2016 - 2030)

  • Hospitals

  • Ambulatory Surgery Centers

  • Clinics

• Regional Outlook (Revenue, USD Million, 2016 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa

    • Saudi Arabia