Global Aortic Aneurysm Market Size 2024, Forecast To 2033
6 Mar, 2024
The aortic aneurysm market has experienced strong growth in recent years, with market size projected to rise from $3.41 billion in 2023 to $3.72 billion in 2024, reflecting a compound annual growth rate (CAGR) of 9.2%. This growth in the historical period can be attributed to factors such as the aging population leading to increased prevalence of cardiovascular diseases, advancements in diagnostic technologies facilitating early detection and intervention, surgical advancements improving treatment outcomes, and widespread awareness programs promoting cardiovascular health. Moving forward, the aortic aneurysm market is expected to witness strong growth in the coming years, forecasted to reach $5.35 billion by 2028, sustaining a compound annual growth rate (CAGR) of 9.5%. The anticipated growth can be attributed to factors such as the rising global aging population driving the prevalence of cardiovascular diseases, continued advancements in treatment modalities enhancing patient outcomes, increased awareness of genetic predispositions to cardiovascular conditions, and ongoing development of healthcare infrastructure to support cardiovascular care delivery. Major trends expected in the forecast period encompass the development of next-generation stent grafts for minimally invasive interventions, integration of technological solutions for remote monitoring of patients, increasing prevalence of abdominal aortic aneurysms (AAA) necessitating therapeutic interventions, and collaborative efforts in research and development initiatives aimed at advancing treatment options.
Global Aortic Aneurysm Market Key Driver
The rising prevalence of alcohol and tobacco consumption is expected to propel the aortic aneurysm market going forward. Alcohol and tobacco containing nicotine are psychoactive substances that affect the central nervous system of the body. The increased consumption of alcohol and tobacco products is a leading cause of aortic aneurysm. For instance, in May 2022, according to a report by World Health Organization (WHO), around 3 million deaths occur every year due to the consumption of alcohol and 7 million deaths occur due to the consumption of tobacco worldwide. Furthermore, in people aged 20-39, approximately 13.5% of deaths are because of alcohol consumption. Further, in 2021, according to the Centers for Disease Control and Prevention, around 12 of every 100 U.S. adults aged 18 years or older (11.5%) currently smoked cigarettes and 28.3 million adults in the US currently smoke cigarettes. Therefore, the rising prevalence of alcohol and tobacco consumption is driving the growth of the aortic aneurysm market.
Get A Free Sample Of The Global Aortic Aneurysm Market ReportGlobal Aortic Aneurysm Market Segments
The aortic aneurysm market covered in this report is segmented –
1) By Type: Thoracic Aortic Aneurysm (TAA), Abdominal Aortic Aneurysm (AAA)
2) By Treatment: Open Surgical Repair (OSR), Endovascular Aneurysm Repair (EVAR)
3) By End User: Hospitals And Clinics, Ambulatory Surgery Centers (ASCs), Other End Users
By Geography:The regions covered in the aortic aneurysm market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the aortic aneurysm market in 2023. The regions covered in the aortic aneurysm market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Aortic Aneurysm Industry Players
Cardiatis SA, Cook Medical Inc., Endologix LLC, W L Gore & Associates Inc., JOTEC GmbH, Lombard Medical Limited., Medtronic plc, Terumo Corporation, MicroPort Scientific Corporation, Boston Scientific Corporation, Endospan Ltd., LifeTech Scientific Corporation, B. Braun Melsungen AG, EndoEvolution LLC, CryoLife Inc., Intuitive Surgical Inc., Synovis Micro Companies Alliance Inc., Meril Life Sciences Pvt. Ltd., Vitalitec International GmbH, Getinge AB, CONMED Corporation, Becton, Dickinson and Company, Baxter International Inc., Johnson & Johnson Services Inc., Cardinal Health Inc., TriVascular Technologies Inc., Vascutek Ltd., Aptus Endosystems Inc., Bolton Medical Inc., EndoVascular Technologies Inc., Endurant Energy LLC, LeMaitre Vascular Inc.
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Aortic Aneurysm Market Overview
An aortic aneurysm is a balloon-like growth in the aorta, the major artery that delivers blood from the heart through the chest and torso. Certain medical conditions, genetic problems, and pressure can weaken the aorta, and the blood flow along these walls can cause an aneurysm. These aneurysms can be tube-shaped or round.
Aortic Aneurysm Global Market Report 2023 provides data on the global aortic aneurysm market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aortic aneurysm market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.