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The global endovascular aneurysm repair market exhibited moderate growth during 2015-2020. An aneurysm refers to the enlargement of the arterial wall due to weakness or degeneration. It is generally associated with tobacco consumption and smoking. The prevalence of aneurysms is also higher among people with medical conditions such as atherosclerosis, high cholesterol levels, and connective tissue disorder. Endovascular aneurysm repair (EVAR) refers to a minimally invasive procedure or surgery that is performed to repair these aneurysms. EVAR procedure is performed by inserting a covered stent, a metal mesh tube with a layer of fabric, into the weak area of the artery. This provides a route for the blood to flow without accumulating in the bulge and prevents it from bursting. Nowadays, multiple devices are available in the market that are used to treat aneurysms.
The EVAR treatment is comparatively safer than traditional procedures, as there is no need for performing surgery. As a result, this technique results in short hospital stays and quicker recovery. Due to the prevalence of aneurysms, along with the growing geriatric population, endovascular treatment is increasingly being adopted by healthcare providers. This has further been supported by the rising awareness of the potential benefits of the procedure. Also, governments across the globe are undertaking several programs to improve the cost structure and spread awareness about the availability of EVAR devices and treatment procedures among patients. In line with this, healthcare institutions are developing EVAR devices and technologies that offer faster recovery and fewer complications. For instance, enhanced graft technologies have been created, which allow treatments with short landing zones and improve conformability to the artery curvature. These technologies have further helped in increasing the success rate of EVAR procedures. Looking forward, IMARC Group expects the global endovascular aneurysm repair market to grow at a CAGR of around 5% during the forecast period (2021-2026).
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The report has also analyzed the competitive landscape of the market with some of the key players being Medtronic plc, Cook Group Incorporated, W. L. Gore & Associates, Inc., Bolton Medical, Inc., Gamida Cell Ltd., JOTEC GmbH, Getinge AB (Maquet), Shanghai MicroPort Medical (Group) Co., Ltd., Terumo Corporation, Endologix, Inc., Lombard Medical Limited, and Cardinal Health, Inc.
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