Market Trends of Global Aortic Repair Devices Industry
This section covers the major market trends shaping the Aortic Repair Devices Market according to our research experts:
Endovascular Aneurysm Repair Segment Dominates the Market and the Trend is Expected to be Same During the Forecast Period.
Endovascular procedures are preferred over open surgeries due to the benefits such as minimally invasive, a short stay in the hospital, and patient compliance. The growing geriatric population in which open repair procedures are not recommendable, demands the use of Endovascular procedures. Also, the continuous growth of Cardiovascular diseases drives the growth of the endovascular aneurysm repair segment during the forecast period.
The growing burden of cardiovascular disorders (CVDs) is leading to a growing number of electrocardiography procedures. For instance, as per the 2021 Pan American Health Organization (PAHO), cardiovascular diseases account for 40.8 million disability-adjusted life years (DALYs) in the Americas. In addition, according to the National Center for Chronic Disease Prevention and Health Promotion, Division for Heart Disease and Stroke Prevention data updated in July 2022, coronary heart disease is the most common type of heart disease. Moreover, every year, about 805,000 people in the United States have a heart attack. People suffering from cardiovascular diseases or those who are at high cardiovascular risk need early detection and intervention to avoid fatal consequences. Such statistics reflect the growing demand for endovascular aneurysm repair devices, thereby contributing to the growth of the segment over the forecast period.
Thus, the segment is anticipated to witness significant growth over the forecast period due to the abovementioned factors.
North America Dominates the Market and the Same is Expected Over the Forecast Period.
North America is expected to dominate the overall market, throughout the forecast period. Factors such as changing lifestyles, advancements in technology, and affordability of minimally invasive procedures for the effective management of cardiovascular diseases in developed countries are responsible for the growth of the market. Moreover, the high demand for technologically advanced medical devices is expected to propel market growth in the region.
The major factor driving the market is the rising global burden of various coronary heart diseases, such as stroke and cardiomyopathy, which cause a global burden of cardiac-related deaths. As per a report by the United States Centers for Disease Control (CDC), statistics updated in 2021, every 40 seconds, an American may have a heart attack. Moreover, as per a February 2022 published update by the Centers for Disease Control and Prevention (CDC), in 2020, the percentage of adults diagnosed with coronary heart disease was 4.6% in the United States. This scenario leads to a higher demand for aortic repair devices for better treatment, which will drive the market in the United States.
Furthermore, supportive awareness initiatives for disease awareness are projected to support the market for cardiovascular devices in North America. For instance, in February 2020, Mexico joined the HEARTS initiative to strengthen primary healthcare for CVD. Promoted by the Pan American Health Organization/ World Health Organization (PAHO/WHO), the initiative aims to improve the prevention and control of hypertension at the primary care level.
Thus, owing to the abovementioned factors, the North American region is expected to show lucrative growth over the forecast period.
