The global Aortic Aneurysm was valued at USD 3.8 billion in 2022, with an expected growth to USD 5.4 billion by 2032, exhibiting a revenue CAGR of 3.14% during the forecast period. The market growth is attributed to the rising prevalence of Ascending Aortic Aneurysm, which is a serious medical disorder that causes an unnatural bulging of the aorta wall.
Aortic Aneurysms can develop in any section of the aorta, but they are primarily detected in the thoracic and abdominal regions. The market's growth is being influenced by several factors, including the aging population, which is a major contributor to the rising incidence of the disease, and the increasing prevalence of risk factors such as smoking, high blood pressure, and high cholesterol levels. Early detection and treatment are critical, which is fueling the demand for innovative treatments like minimally invasive surgeries, such as endovascular repair, which are less invasive and result in a quicker recovery time.
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The recognition of the significance of prompt diagnosis and treatment has been increasing, which is driving the growth of the market. The revenue growth is expected to be fueled by the development of minimally invasive surgical procedures, including endovascular repair, which provide less invasive and faster recovery alternatives to open surgery.
Key Players in the Aortic Aneurysm –
Some of the key players in the global Aortic Aneurysm include:
- Medtronic
- Cook Medical
- Endologix
- Terumo Corporation
- Gore Medical
- Cardinal Health
- L. Gore Associates
- Abbott Laboratories
- Lombard Medical
- Braun Melsungen AG
These companies are focused on expanding their product portfolio and launching innovative products to meet rising demand from various regions. They also engage in strategic partnerships and collaborations to strengthen their position in the market.
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The market for Ascending Aortic Aneurysms is expanding due to increasing government initiatives aimed at spreading awareness about the disease, encouraging early detection and treatment. Lifestyle disorders such as obesity, diabetes, and hypertension are also contributing to the rise in cases. Research and development efforts focused on developing new therapies and technologies are expected to have a favorable impact on the market.
However, the high cost of care and the absence of reimbursement schemes for Ascending Aortic Aneurysm procedures in developing nations could restrain revenue growth to some extent. The global market for Ascending Aortic Aneurysm is regulated by government bodies such as the FDA in the US, CMS, and CDSCO in India, among others.
The market is segmented by product type, with the ascending segment accounting for the largest revenue share in 2022. The leading players in the Aortic Aneurysm are focused on expanding their product portfolio and launching innovative products to meet rising demand from various regions.
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