According to the latest report by IMARC Group, titled “Endovascular Aneurysm Repair (EVAR) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global endovascular aneurysm repair market experienced stable growth during 2011-2018. An endovascular aneurysm repair (EVAR) is a minimally invasive procedure employed to treat an aneurysm, which is a bulging, dilation or enlargement in the wall of an artery. This surgery involves making a small incision through which an endovascular graft is inserted inside the artery. The graft, inserted through the arteries in a long, narrow and flexible tube, which prevents blood from flowing into the aneurysm by expanding and sealing it off. Since open aneurysm repair requires surgically opening the chest or abdomen area of the patient, the rate of associated post-procedural complications is extremely high and often requires secondary re-intervention. However, EVAR is gaining widespread popularity among healthcare professionals as it results in short hospital stays and quicker recovery.
Global Endovascular Aneurysm Repair (EVAR) Market Trends:
A rise in the number of smokers, along with an increase in the consumption of alcohol, has significantly increased the risks of developing an aneurysm. This, along with the growing awareness regarding the benefits associated with the EVAR procedure, has provided a thrust to the market growth. Increasing geriatric population is further contributing to the market growth as older people are more prone to developing serious medical conditions. Additionally, the prevalence of high blood pressure increases the risk of heart, blood vessel and circulation problems, which can often lead to increased chances of developing aneurysms. Furthermore, enhanced research and development (R&D) activities have led to the advent of durable devices utilized for the procedure, which are expected to minimize the chances of failures, endoleaks and aneurysm rupture. Improved techniques and technological advancements have resulted in quicker and less-invasive procedures, which have reduced infection rates and improved patient outcomes. On account of the aforementioned factors, the market is expected to grow at a CAGR of 8% during 2019-2024.
- Based on the indication, the market has been divided into Abdominal Aortic Aneurysm (AAA), Thoracic Aortic Aneurysm (TAA), Thoracoabdominal Aortic Aneurysm (TAAA) and others.
- On the basis of the product, the market has been categorized into percutaneous EVAR, fenestrated EVAR, aortic stents and TAA grafts, and others.
- Based on the gender, the market has been bifurcated into male and female.
- On the basis of age, the market has been segregated into pediatric, adult and geriatric.
- Based on the end user, the market has been classified into hospitals, clinics, ambulatory surgical centers and others.
- On the geographical front, the market has been divided into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been analyzed, with the detailed profiles of the key players operating in the market. Some of these include Medtronic, 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, and Cardinal Health, Inc.
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