Abdominal Stent Graft System Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Abdominal Stent Graft System Market Analysis
The abdominal stent graft system market is expected to register a CAGR of 4.1% during the forecast period.
- COVID-19 significantly impacted the abdominal stent graft system market during the initial wave since COVID-19 patients with aortic aneurysms faced an increased risk of disease complications. For instance, as per the article published in January 2022 in PubMed, COVID-19 infection may cause abdominal aortic aneurysm (AAA) degeneration in many ways. Several processes associated with COVID-19 infection, including higher levels of inflammatory cytokines, have the potential to activate metalloproteinases capable of digesting collagen and elastin, leading to AAA wall degradation.
- Hence, as COVID-19 patients with AAA were at risk of complications, the demand for the abdominal stent graft system increased during the pandemic. In the post-pandemic era, the market is estimated to witness growth in the future due to the increase in cases of AAA and the rise in the risk of occlusive atherosclerotic disease among the population worldwide.
- The major factors attributing to the growth of the abdominal stent graft system market are the increasing prevalence of abdominal aortic aneurysms, the rise in the population prone to the risk of occlusive atherosclerosis disease, and the increasing adoption of minimally invasive surgeries. Also rise in the geriatric population is one of the major reasons for the adoption of the abdominal stent graft system market. For instance, as per the Abdominal aortic aneurysm screening: standards report 2021 to 2022 published by the Government of the UK, approximately 274,800 men were offered screening, with 79.0% receiving a conclusive screen during the period of 1st April 2021 to 31 March 2022, in which 1,794 aneurysms (aorta measuring more than or equal to 3.0cm) were found. Thus increase in aneurysm cases is expected to drive market growth over the forecast period.
- Furthermore, as per the World Population Prospectus 2022 update, the percentage of the population of people aged 65 years or over in the world was estimated to be 9.7 in 2022, and the percentage is expected to rise to 16.4 by 2050. Since the geriatric population is more prone to affecting occlusive atherosclerotic disease, which leads to the adoption of abdominal stent grafts, the rise in the geriatric population bolsters the market growth over the forecast period.
- Moreover, the technological advancements in stents, increasing adoption of MIS procedures, and presence of competitors are expected to increase the availability of the abdominal stent graft system, leading to market growth. For instance, in May 2021, Endologix launched an implant of its Alto abdominal stent graft in Canada following approval from Health Canada. Alto was also approved for commercial sale in Argentina.
- The alto abdominal stent graft system is the latest generation in polymer-based therapies for abdominal aortic aneurysm (AAA) patients. The device utilizes a low-profile delivery system and, unlike standard endovascular aneurysm repair (EVAR) devices, features an exclusive conformable sealing ring that molds in situ to the patient's specific aortic neck anatomy.
- Thus, considering the high prevalence of abdominal aortic aneurysms, the rise in the geriatric population, the technological advancements in stents, and the increasing adoption of MIS procedures, the studied market is expected to witness significant growth over the forecast period. However, the high cost of surgery and lack of long-term benefits are expected to restrain the market growth over the forecast period.
Abdominal Stent Graft System Market Trends
The Hospital Segment is Expected to Witness a Significant Growth in the Market Over the Forecast Period
- The hospital segment is expected to witness significant growth in the studied market over the forecast period due to the increase in the number of hospitals offering treatment based on the abdominal stent graft system. Also, one factor that bolsters the market growth is the rise in the number of healthcare professionals with expertise in performing surgeries based on the abdominal stent graft system.
- For instance, as per the Microport 2022 interim results, the Minos Abdominal Aortic Stent-Graft and Delivery System entered over 500 hospitals, achieving a sales revenue of RMB 75 million (USD 10.7 million) in the first half of 2022, representing an increase of 78.95% year-on-year. Hence, the introduction of abdominal stent graft systems in hospitals leads to segment growth over the forecast period.
- Furthermore, an increase in product launches and approvals globally will raise the chance of product availability in hospitals. For instance, in September 2022, Shanghai MicroPort Endovascular MedTech (Group) Co., Ltd. received registration approval from the Colombian National Institute for Drug and Food Surveillance (INVIMA) for the Minos Abdominal Aortic Stent-Graft and Delivery System.
- Colombia was the third Latin American country to approve the Minos System after Brazil and Argentina. The Minos System has been available in 12 overseas markets, including Greece, Poland, Spain, Germany, Italy, Croatia, Hungary, Switzerland, Brazil, the Czech Republic, and the United Kingdom. Thus, considering the increase in product launches and approvals, the studied segment is expected to witness significant growth over the forecast period.
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North America is Anticipated to Hold a Significant Market Share in the Abdominal Stent Graft System Market Over the Forecast Period
- North America is expected to hold a significant market share of the overall market throughout the forecast period due to the increasing incidence of abdominal aortic aneurysms, obesity, high blood pressure, and the rising geriatric population. For instance, as per the Penn Medicine Lancaster General Health August 2022 update, each year, about 200,000 people in the U.S. are diagnosed with an abdominal aortic aneurysm (AAA).
- As per the same source, a history of smoking accounts for about 75% of all abdominal aortic aneurysms. Thus the high prevalence of AAA and a high percentage of smoking in the studied region is expected to utilize the abdominal stent graft system and thereby fuel the market growth.
- Also, other factors augmenting the market growth are the growing adoption of minimally invasive procedures and an increase in clinical study enrolment for the development of the abdominal stent-graft system. For instance, in April 2022, Terumo Aortic enrolled patients in an all-comers Abdominal Aortic Aneurysm (AAA) Study of the TREO Abdominal Stent-Graft System in the United States. The TREO abdominal stent-graft system is approved by the FDA to treat patients with abdominal aortic aneurysms.
- Furthermore, as per the February 2022 update by the University of Calgary, the Canadian Task Force on Preventative Health Care estimated that 20,000 Canadians are diagnosed with an abdominal aortic aneurysm (AAA) annually. As per the same source, researchers named Di Martino and Moore received a USD 661,725 Canadian Institutes of Health Research grant to study aneurysm patients.
- Hence, such grants and stipends offered to the researchers are expected to increase the development of the abdominal stent-graft system, thereby driving the market growth in the studied region. Hence, due to the increase in product launches and research funding, North America is expected to hold a notable market share over the forecast period.
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Abdominal Stent Graft System Industry Overview
The abdominal stent graft system market is highly competitive and consists of many global players. The key players are focused on strategic initiatives such as mergers, acquisitions, partnerships, and product launches to increase global product availability. Some of the key players in the market are Endologix, Inc., Sofmedica, Terumo Corporation, Medtronic, Jotec GmbH, Cook Medical, Microport Scientific Corporation, Cardinal Health, Inc., and many others.
Abdominal Stent Graft System Market Leaders
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Endologix, Inc
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Sofmedica
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Terumo Corporation
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Artivion, Inc
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Cook Group
*Disclaimer: Major Players sorted in no particular order
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Abdominal Stent Graft System Market News
- October 2022: Endologix LLC revealed that its ELEVATE (Expanding Patient Applicability with Polymer Sealing Ovation ALTO Stent Graft) IDE study was published online in the Journal of Vascular Surgery. The study reported the clinical outcomes of the ALTO abdominal stent graft system and highlighted the device's safety and effectiveness at one-year post-procedure.
- August 2022: Endologix LLC, a privately held medical device company, received CE Mark Certification under the new EU Medical Devices Regulation for its AFX2 Endovascular AAA System. The AFX endovascular AAA System integrates anatomical fixation with an advanced delivery system and graft material technology to treat a variety of anatomies.
Abdominal Stent Graft System Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Prevalence of Abdominal Aortic Aneurysm
- 4.2.2 Increase in the Geriatric Population and Risk of Occlusive Atherosclerotic Disease
- 4.2.3 Technological Advancements in Stents & Increasing Adoption of MIS Procedures
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4.3 Market Restraints
- 4.3.1 High Cost of Surgery and Treatment
- 4.3.2 Lack of Long Term Outcome Benefits
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4.4 Porters Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
-
5.1 By Type
- 5.1.1 Metal Stent
- 5.1.2 Polymer Stent
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5.2 By End-User
- 5.2.1 Hospitals
- 5.2.2 Ambulatory Surgical Centers
- 5.2.3 Other End-Users
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Endologix, Inc.
- 6.1.2 Sofmedica
- 6.1.3 Terumo Corporation
- 6.1.4 Medtronic
- 6.1.5 Lombard Medical
- 6.1.6 Cook medical
- 6.1.7 Microport Scientific Corporation
- 6.1.8 Cardinal Health, Inc.
- 6.1.9 JOTEC GmbH
- 6.1.10 Braile Biomédica
- 6.1.11 Bentley
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To Availablity**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments
Abdominal Stent Graft System Industry Segmentation
As per the scope of the report, the abdominal stent graft system is used to repair a weakened and bulging part of the aorta, which is the largest part of the abdomen, below the renal arteries. The system comprises an implant, extension implants, and a catheter. The abdominal stent graft system is majorly used in the treatment of abdominal aortic aneurysms (AAA).
The abdominal stent graft system market is segmented by type (metal stent and polymer stent), end-user (hospitals, ambulatory surgical centers, and other end-users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally.
The report offers the value (in USD million) for the above segments.
| By Type | Metal Stent | |
| Polymer Stent | ||
| By End-User | Hospitals | |
| Ambulatory Surgical Centers | ||
| Other End-Users | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
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Abdominal Stent Graft System Market Research FAQs
What is the current Abdominal Stent Graft System Market size?
The Abdominal Stent Graft System Market is projected to register a CAGR of 4.10% during the forecast period (2024-2029)
Who are the key players in Abdominal Stent Graft System Market?
Endologix, Inc , Sofmedica, Terumo Corporation, Artivion, Inc and Cook Group are the major companies operating in the Abdominal Stent Graft System Market.
Which is the fastest growing region in Abdominal Stent Graft System Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Abdominal Stent Graft System Market?
In 2024, the North America accounts for the largest market share in Abdominal Stent Graft System Market.
What years does this Abdominal Stent Graft System Market cover?
The report covers the Abdominal Stent Graft System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Abdominal Stent Graft System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Abdominal Stent Graft System Industry Report
Statistics for the 2024 Abdominal Stent Graft System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Abdominal Stent Graft System analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Abdominal Stent Graft System Report Snapshots
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