Global Aortic Aneurysm Market: Overview
Aortic aneurysm refers to an abnormal bulge on the wall of aorta, a major blood vessel transporting blood from heart to body. Aortic aneurysms can affect any part of aorta and might be either round or tube in shape.
Factors that characterize growth of global aortic aneurysm market are increased prevalence of smoking in all parts of the world. In addition, rise in the incidences of cardiovascular diseases, technological progress in the medical field, and favorable reimbursement policies for aortic aneurysms treatment.
Type, product, treatment, end user and region are the parameters based on which the global aortic aneurysm market has been classified.
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Global Aortic Aneurysm Market: Notable Developments
One of the developments that characterize the changing course of the global aortic aneurysm market is as mentioned below:
• In April 2018, Vascutek Ltd and Bolton Medical, Inc. have merged to produce one single business unit. It is expected that following this acquisition, the merged company is likely to reinforce its position in the global market and expand its portfolio of medical products.
Some reputed organizations functioning in the global aortic aneurysm market comprise the below-mentioned:
• Terumo Medical Corporation
• Lombard Medical Limited
• Terumo Medical Corporation
• Cardinal Health, Inc.
• MAQUET Holding B.V. & Co. KG
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Global Aortic Aneurysm Market: Key Trends
The following drivers, opportunities, and restraints are expected to determine future course of the global aortic aneurysm market over the forecast period, from 2019 to 2027.
Increasing Number of Claims Denials to Accentuate its Demand in the Market
The global aortic aneurysm market is likely to be driven by rapid rise in the cases of cardiovascular diseases and poor dietary habits that prevail among a large part of the population. Furthermore, increasing geriatric population with cardiovascular diseases are driving the demand for new methods of treatment and devices for abdominal and thoracic aneurysm repair. This is further likely to boost the global aortic aneurysm market over the assessment tenure, from 2019 to 2027.
Countries with middle- and low- income households mostly face substantial concerns owing to little or no awareness about the ill effects of smoking, be it direct or passive and associated risk of development of aneurysm. Furthermore, the scenario of reimbursement and regulations vary across different parts of the world.
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The reimbursement policies pertaining to aortic aneurysm surgeries are generally favorable. In the U.S., medicare policies generally cover more than 70 % of the total treatment cost and this cost is borne by the government of the U.S. In countries like India and China, flexible rules and regulations related to the manufacturing of medical devices enable local manufacturers to introduce low cost products. In developed nations, such as, the U.K., Canada, Germany, and U.S., strict rules and regulations prevail to watch over new product launches in a bid to ensure good quality of the products.
On the flip side, low reimbursement is likely to make treatment for aortic aneurysm expensive, which is likely to impede the growth of the global aortic aneurysm market over the forecast tenure, from 2019 to 2027.
Global Aortic Aneurysm Market: Geographical Analysis
In a bid to present comprehensive view of the global aortic aneurysm market, TMR analysts have segmented the market based on region. The market is divided into the major regions of Latin America, Europe, Asia Pacific, the Middle East and Africa, and North America.
North America is likely to account for a leading share of the global aortic aneurysm market over the assessment period. Such regional dominance is ascribed to the presence of topnotch healthcare infrastructure and constant technological progress made in the medical industry. Europe is estimated to be another leading region of the market, owing to favorable government policies governing the aortic aneurysm market.
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