Abdominal Stent Graft System Market Analysis

1. What is the Market Size & CAGR of Abdominal Stent Graft System market in 2021?

The global abdominal stent graft system market is expected to reach a market size of USD 1.5 billion in 2021 with a compound annual growth rate (CAGR) of 5.2%.

2. COVID-19 Impact on the Abdominal Stent Graft System Market

The COVID-19 pandemic has had a significant impact on the abdominal stent graft system market. The outbreak of the virus has led to disruptions in the supply chain, delays in medical procedures, and a decrease in patient visits to healthcare facilities. However, the market is expected to bounce back as healthcare services resume and demand for stent graft systems increases.

3. Abdominal Stent Graft System Dynamics

The abdominal stent graft system market is driven by the increasing prevalence of abdominal aortic aneurysms (AAA) and the growing aging population. Advancements in stent graft technology, rising adoption of minimally invasive procedures, and increasing awareness about the benefits of stent graft systems are also contributing to the market growth.

4. Segments and Related Analysis

4.1 Types of Abdominal Stent Graft Systems

There are two main types of abdominal stent graft systems: fenestrated and non-fenestrated. Fenestrated stent graft systems are designed for complex AAA cases, while non-fenestrated stent graft systems are used in standard AAA cases.

4.2 Market Segmentation by End User

The market is segmented based on end users such as hospitals, ambulatory surgical centers, and specialty clinics. Hospitals account for the largest market share due to the high volume of procedures performed in these settings.

5. By Region Analysis

5.1 North America

In North America, the abdominal stent graft system market is driven by the presence of well-established healthcare infrastructure, high prevalence of AAA, and technological advancements in the field of vascular surgery.

5.2 Europe

Europe has a significant market share in the abdominal stent graft system market due to the increasing adoption of minimally invasive procedures, favorable reimbursement policies, and rising healthcare expenditure.

5.3 Asia Pacific

The Asia Pacific region is expected to witness the fastest growth in the abdominal stent graft system market due to the growing geriatric population, increasing incidence of AAA, and improving healthcare facilities in countries like China, India, and Japan.

6. Key Market Players and Competitive Landscape

The key players in the abdominal stent graft system market include Medtronic, Cook Medical, Endologix, Lombard Medical, Cardinal Health, and Terumo Corporation. These companies are focusing on product innovation, strategic collaborations, and mergers and acquisitions to gain a competitive edge in the market.

7. Recent Happenings in the Abdominal Stent Graft System Market

In recent developments, Medtronic launched a new generation of abdominal stent graft systems with advanced features for improved patient outcomes. Cook Medical announced a strategic partnership with a renowned research institution to develop innovative stent graft technologies. These advancements are expected to drive growth in the abdominal stent graft system market.