The global aortic stent graft market is expected to reach $4.5bn by 2028, growing at a Compound Annual Growth Rate (CAGR) of 5.4% between 2018 and 2028, according to GlobalData, a leading data and analytics company.
The company’s latest report, ‘Aortic Stent Grafts’ reveals that Asia Pacific will be one of the fastest growing regions at a CAGR of 6.7% during the forecast period, with North America and Europe following closely behind at 4.9% and 4.6% respectively.
Abdominal aortic stent grafts remains the largest segment in the Aortic Stent Graft market, estimated to reach $2.8bn globally by 2028, due to the high prevalence of abdominal aortic aneurysms (AAA) relative to thoracic abdominal aneurysms (TAA).
David Brown, Medical Devices Analyst at GlobalData comments, “Advances in stent graft design, such as with fenestrated and branched endografts, continue to expand the eligible patient pool for endovascular repair by addressing increasingly complex aneurysm anatomies.”
Although endovascular repair of aneurysms is a commonly used procedure and is increasingly employed over open repair procedures for the majority of aneurysms, barriers to market growth include the high cost of aortic stent graft devices and the relative lack of long-term outcome benefits versus open aortic repair.
Brown concludes, “While abdominal aortic stent grafts are expected to remain the largest segment of the global aortic stent grafts market throughout the forecast period, there is an opportunity for growth in thoracic aneurysm repair through advanced stent design and hybrid procedure approaches.”