Aortic Aneurysm Repair Market value to an impressive $5.8 Billion by 2032

Growing prevalence of aortic aneurysm and technological advancement drive the growth of the global aortic aneurysm repair market. However, the high cost of aortic aneurysm repair procedures presents a significant challenge and hampers market growth. On the contrary, the growing healthcare infrastructure and adoption of strategies by key manufacturers are expected to offer remunerative opportunities for expansion of the aortic aneurysm repair market during the forecast period.

According to the report, the global Aortic aneurysm repair market generated $3.2 billion in 2022, and is anticipated to generate $5.8 billion by 2032, witnessing a CAGR of 6.1% from 2023 to 2032.

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Impact of COVID-19 on Aortic Aneurysm Repair Market:

Negative Impacts:

• Reduced Procedure Volume: Fear of exposure to COVID-19, prioritization of emergency care, and healthcare resource allocation towards managing the pandemic led to a decrease in elective aortic aneurysm repair procedures, both open and endovascular. This impacted market growth and revenue of manufacturers and healthcare providers.
• Supply Chain Disruptions: Global lockdowns and travel restrictions disrupted the supply chain for medical devices and equipment used in aortic aneurysm repair. This caused shortages and price increases for certain products, leading to delays in procedures and increased costs.
• Increased Risk of Complications: Delaying necessary aortic aneurysm repair due to the pandemic could have worsened patient outcomes and potentially led to higher rates of rupture and emergency surgeries.

Positive Impacts:

• Focus on Remote Monitoring and Telemedicine: The adoption of telemedicine for consultations and follow-up care in aortic aneurysm patients gained traction during the pandemic. This improved accessibility to care and potentially reduced unnecessary hospital visits.
• Advancements in Minimally Invasive Techniques: Research and development efforts continued in the field of endovascular aortic aneurysm repair (EVAR) devices, leading to advancements in technology and procedural techniques. This potentially improved procedure safety and efficacy, attracting more patients towards minimally invasive options.
• Increased Awareness of Aortic Aneurysms: The pandemic heightened public awareness of cardiovascular risks and conditions like aortic aneurysms. This potentially led to earlier diagnoses and increased demand for preventive measures and monitoring.

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Market Segmentation:

Regional Growth Dynamics:

North America dominated the aortic aneurysm repair market in 2022 accounting to nearly three-fifths of the global aortic aneurysm repair market revenue and is expected to continue the trend throughout the forecast period. This is attributed to alarming increase in the incidence of coronary artery diseases (CADs), including aortic aneurysm, in the region. This is attributed to factors such as sedentary lifestyle, unhealthy eating habits, and rise in geriatric population. In addition, the surge in demand for aortic aneurysm repair devices and minimally invasive procedures drives the market growth. However, Asia-Pacific is expected to register the highest CAGR of 7.7% during the forecast period, owing to surge in demand for minimally invasive procedures to address the unmet needs of a large population. In addition, the development of healthcare infrastructure, rise in healthcare reforms, and increase in healthcare expenditure in emerging economies are anticipated to contribute toward the growth of the aortic aneurysm repair market in Asia-Pacific.

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Leading Market Players: –

• Medtronic Plc
• Artivion, Inc.
• Terumo Corporation
• W. L. Gore and Associates, Inc.
• Microport Scientific Corporation
• Cook Group Inc
• Endologix Inc.
• Cordis Corporation
• Braile Biomédica S.A.
• Bentley Innomed GmBH

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