Aortic Stent Grafts Market Size and Competitive Analysis by 2031

[Research Report] The aortic stent grafts market is projected to grow from US$ 2.62 billion in 2024 to US$ 4.03 billion by 2031; the market is estimated to record a CAGR of 6.5% during 2023–2031.

Market Insights and Analyst View:

A stent graft device is a specialized medical implant designed to treat aortic aneurysm through minimally invasive endovascular techniques. The stent graft is made of a thin metal mesh called the stent, covered with a thin polyester fabric called the graft. It is inserted through a catheter and placed inside the aorta. Once in place, the stent graft stays fixed, and blood flows through it, protecting the affected part of the aorta and preventing the rupturing of an aneurysm. Increasing incidence of aortic aneurysm and rising demand for minimally invasive procedures such as endovascular repairs drive the aortic stent grafts market growth. However, product recalls initiated by the market players hinder the market growth. Furthermore, technological advancements and strategic activities by the manufacturers are expected to bring new aortic stent grafts market trends in the coming years.

Growth Drivers:

Improvements in medical science and technologies have given way to minimally invasive devices, which can aid in replacing traditional painful surgical methods with minimally invasive or noninvasive methods. Minimally invasive techniques have gained popularity in surgical fields such as cardiac surgery. Endovascular aneurysm repair (EVAR) is a minimally invasive procedure for treating abdominal aortic aneurysms. The procedure is performed by inserting a stent graft into the affected part of the aorta and uses a smaller incision than open cardiac surgery to enable wound healing and reduce procedure time. An article published by JAMA Network in May 2022, a study conducted to compare long-term outcomes of EVAR with open repair of AAA, suggested that endovascular repair is associated with lower risk than open repair in treating abdominal aortic aneurysm. Additionally, surgeons have embraced minimally invasive techniques due to their potential benefits, and advancements in medical devices and surgical skills have further facilitated widespread adoption. As a result, healthcare institutions are investing in training their medical teams and acquiring the necessary equipment to meet the increasing demand for elective aortic aneurysm repair surgeries, thereby providing patients with improved treatment options and enhanced overall healthcare experiences.

Thus, the increasing demand for minimally invasive devices drives the aortic stent grafts market growth.

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Aortic Stent Grafts Market: Strategic Insights

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Report Segmentation and Scope:

The “global aortic stent grafts market analysis to 2031” has been carried out by considering the following segments: product and end user.

Segmental Analysis:

Based on product, the market is bifurcated into abdominal aortic and thoracic aortic stent grafts. The abdominal aortic stent graft segment held the larger aortic stent grafts market share in 2023.

In terms of end user, the market is segmented into hospitals and ambulatory surgical centers. The hospital segment is anticipated to hold a significant market share during 2023–2031, owing to the presence of specialized and complex scientific instruments.

Regional Analysis:

The scope of the global aortic stent grafts market report focuses on North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa.

In terms of revenue, North America dominated the aortic stent grafts market share in 2023. The increasing prevalence of aortic aneurysms owing to the high number of smokers and high preference for minimally invasive operations, supported by favorable reimbursement regulations, and the increasing expenditure on healthcare services across the US are the key factors driving the growth of the market in the country. For instance, according to data published by the Centers for Disease Control and Prevention (CDC) in September 2021, having a history of smoking is responsible for ~ 75% of abdominal aortic aneurysms and men over 65 years and above who have a history of smoking are recommended to receive an abdominal aortic aneurysm ultrasound screening, even if they are asymptomatic, by the U.S. Preventive Services Task Force. In addition, according to the Society for Vascular Surgery (SVS), ~ 200,000 people are diagnosed with AAA in the US every year. Thus, a rising incidence of cardiovascular conditions such as aortic aneurysms among the population boosts the demand for aortic stent grafts in the US, facilitating the expansion of the aortic stent grafts market.

Aortic Stent Grafts Market Regional Insights

The regional trends and factors influencing the Aortic Stent Grafts Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Aortic Stent Grafts Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Aortic Stent Grafts Market Report Scope

Aortic Stent Grafts Market Players Density: Understanding Its Impact on Business Dynamics

The Aortic Stent Grafts Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Aortic Stent Grafts Market are:

1. ENDOLOGIX INC
2. Terumo Corporation
3. Radcliffe Medical Media
4. Cook
5. MicroPort Scientific Corporation
6. Corcym

Disclaimer: The companies listed above are not ranked in any particular order.

Industry Developments and Future Opportunities:

The aortic stent grafts market forecast can help stakeholders in this marketplace plan their growth strategies. As per press releases by key players operating in the market, a few initiatives are listed below:

• In September 2023, MicroPort Endovastec's three aortic intervention products were approved by the Thailand Food and Drug Administration (TFDA). These products include the Castor Branched Aortic Stent-Graft and Delivery System, the Minos Abdominal Aortic Stent-Graft and Delivery System, and the Hercules Thoracic Stent Graft System with Low Profile Delivery System. These products were developed to treat thoracic and abdominal aortic diseases and are now registered and approved for use in Thailand.
• In March 2023, Bolton Medical, Inc. received U.S. Food & Drug Administration (FDA) approval for its RelayPro Thoracic Stent-Graft System. The system comprises a delivery catheter and tube-shaped implants, called stent grafts, made of nitinol, polyester, and platinum-iridium. It is used to repair damage in the aorta, specifically in the area behind the heart, known as the descending thoracic aorta.
• In March 2023, Vector Biolabs announced the completion of a facility expansion. The newly constructed facility has office space, warehouses, QC labs, and a cleanroom manufacturing suite. The company stated that, with the extra capacity, Vector will be able to continue providing its fast response times even as field demand grows and expand its offering to include new product characterization and quality control services.
• In May 2021, Endologix LLC launched ALTO Abdominal Stent Graft in Canada after receiving approval from Health Canada, and it has also received commercial approval for it in Argentina. With the launch of this latest Endovascular Aneurysm Repair (EVAR) technology, the company aims to expand its global reach in the market.

Competitive Landscape and Key Companies:

ENDOLOGIX INC; Terumo Corporation; Radcliffe Medical Media; Cook; MicroPort Scientific Corporation; Corcym; LeMaitre Vascular, Inc; W. L. Gore & Associates, Inc.; JOTEC GmbH; and Medtronic are among the prominent players profiled in the aortic stent grafts market report. These companies focus on new technologies, advancements in existing products, and geographic expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios.