Abdominal Stent Graft System Market: Introduction
- Aortic aneurysm is a bulge in the aorta, a large artery that carries the blood from the heart though the chest and torso. Aortic aneurysm can result into dissection or rupture, which causes most of the deaths among people. Abdominal aortic aneurysm is highly common in men of aged 65 or older, and it occurs below the chest. Abdominal aortic aneurysm is usually caused by atherosclerosis, which usually has fewer symptoms such as pain in buttocks, legs, groin or deep pain in the back or in the side. Stent graft systems are medical devices widely used in transcatheter endovascular aortic repair (EVAR) procedures in order to seal aortic aneurysms. The stent graft has a self-expanding frame that is covered with a materials used to seal the vessel walls and consequently, prevent blood leaks. Abdominal stent graft system, also known as endovascular stent grafting, is utilized to repair abdominal aortic aneurysm. This grafting surgery is less invasive, as compared to other open surgeries, and stent grafting is used to reinforce the aorta wall and keep the damaged area from rupturing. The stent graft is placed through a delivery catheter inside the aortic aneurysm with the help of advanced imaging methods. The endovascular stent graft prevents the aneurysm from bursting and causing any damage. Abdominal stent graft system consists of implant (plastic tubes which has polymer filled plastic outer rings with stent), extension implants, and delivery catheters.
- Rise in incidences of abdominal aortic aneurysm (AAA) is fueling the demand for endoscopic repair surgery, which is a minimal invasive procedure conducted by specialists. This procedure is advised for AAA with more than 5 cm. For smaller case of AAA, medical procedure isn’t required and thus, it heals by bursting or splitting. Endovascular repair has lower risk of complication as compared to that of open surgery and is widely prescribed to repair abdominal aortic aneurysm by stent graft.
Request a sample to get extensive insights into the Abdominal Stent Graft System Market
Key Drivers, Restraints and Opportunities of Global Abdominal Stent Graft System Market
- Prevalence of AAA is estimated to be around 4% to 8% in males, and annual incidences are approximately around 0.4% to 0.67% in the Western population. As per research, AAA is likely to impact around 2.5 to 6.5 aneurysms per 1000 persons every year. This is estimated to drive the abdominal stent graft system market globally. Abdominal stent graft system is extensively utilized to prevent growth and rupture of the aneurysm. Therefore, this graft system, or grafting procedure, is preferred for the treatment of AAA, which in turn is expected to boost the market during the forecast period. Presence of key players offering abdominal stent graft systems is another factor that is projected to boost the global abdominal stent graft system market in the near future.
- Availability of the various stent graft for the treatment of tedious abdominal aortic aneurysm, such as E-tegra, Stentgraft, Endurant II AAA Stent Graft System, is expected to drive the global abdominal stent graft system market. The process that enables repairing the abdominal aortic aneurysms is known as endovascular stent grafting procedure. The abdominal stent graft device enables the physician to provide endovascular aortic repair (EVAR) to the increasing number of patients suffering from AAA. Technological advancements is another factor propelling the global abdominal stent graft system market.
- In some cases, abdominal stent graft systems are unable to completely treat aortic aneurysm, which drives the need for other procedures to treat the condition. Moreover, certain complications such as blood leaks and movement of stent graft coupled with the high cost of procedure are likely to restrain the abdominal stent graft system market in the near future.
To understand how our report can bring difference to your business strategy, Ask for a brochure
North America to Capture Major Share of Global Abdominal Stent Graft System Market
- North America is expected to account for a major share of the global abdominal stent graft system market attributable to rising prevalence of abdominal aortic aneurysm, technological advancements, and adoption of minimal invasive surgeries in the region. Presence of key players offering abdominal stent graft system devices is anticipated to boost the market in the region. As per CDC research, in 2018, aortic aneurysms resulted in 9,923 deaths, and 58% of death are accounted among men. Rising atherosclerosis cases and increased smoking by the population is another factor boosting the treatment of the aortic aneurysm condition.
- The market in Asia Pacific is projected to expand at a rapid pace during the forecast period. Aging population, increase in smoking habit, atherosclerosis, and growing cases of abdominal aortic aneurysm are major factors that are estimated to augment the market of the abdominal stent graft system. Moreover, the presence of key players and domestic suppliers of catheters and syringe needles is expected to drive the abdominal stent graft system market in Asia Pacific during the forecast period.
Key Players Operating in Global Abdominal Stent Graft System Market
The global abdominal stent graft system market is highly consolidated with the presence of key players. A large number of manufacturers hold a major share in their respective regions. Major players operating in the global abdominal stent graft system market are:
- JOTEC GmbH
- Endologix, Inc
- MicroPort Scientific Corporation
- Lombard Medical Limited
- Terumo Medical Corporation
- Cardinal Health, Inc.
- MAQUET Holding B.V. & Co. KG
Global Abdominal Stent Graft System Market: Research Scope
Global Abdominal Stent Graft System Market: by Product Type
- Stent Graft
- Syringe Needles
Global Abdominal Stent Graft System Market, by End-user
- Cardiac Specialty Center
- Ambulatory Surgical Centers
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.