The global aortic aneurysm market size is estimated to reach USD 4.71 billion by 2026 registering a CAGR of 8.6%, according to a new report by Grand View Research, Inc. Growing geriatric population in developed countries and rise in the number of tobacco smokers are expected to be the key factors driving the global market. Technological advancements in endovascular surgical procedures will augment the market growth further.
Cases of Abdominal Aortic Aneurysms (AAAs), especially in men aged 65 years and above, surpassed the number of Thoracic Aortic Aneurysm Repair (TAA) by threefold. This has increased the demand for advanced stent-graft systems for AAA. Due to the lack of multiple treatment options and being a complex procedure, TAA procedures are fewer. This offers a lucrative opportunity to the manufacturers for developing advanced products for Thoracic Endovascular Aneurysm Repair (TEVAR).
Companies in the market focus on M&A activities to gain higher market share. For instance, leading companies, such as Medtronic, Endologix, and Terumo, acquired smaller firms to expand their product portfolios and geographical reach. In addition, recent FDA approvals have aided in overall market growth. For example, in 2016, Cook Medical received commercialization rights for its Zenith product line in the U.S market for TEVAR.