The term Aortic aneurysm refers to a condition of the enlargement of aortic wall at a certain point, which mains to breaking of the artery resulting in interior bleeding. In addition, the abdominal aortic aneurysm (AAA) and thoracic aortic aneurysm (TAA) are the two major types of aneurysms depend on the existence of the aneurysm. The first AAA surgical process was accomplished in 1991 and since then there has been a development in the cure of the stent grafts. The Montenegro, Armenia, and New Zealand were the top three economies with uppermost mortality rate in 2013. Furthermore, the players in the aortic aneurysm are doing significant developments in the technology for developing the cure of this condition more effectively in a short duration at a reasonable price which further benefitted for increasing the demand and leading the market growth with the handsome amount of share across the globe more positively in the coming years.
According to the report analysis, ‘Worldwide Aortic Aneurysm Market trends and drivers, restraints, and opportunities 2017-2023’ states that there are several key players which are recently functioning in this sector more actively for leading the fastest market growth and dominating the high value of market share across the globe in the coming years more enormously while studying and analyzing the rigorous regulations for the approval, advanced technological developments for decreasing the risk associated with the process and spreading awareness related to the applications of this includes Cook Medical’s Medtronic PLC, W.L.Gore& Associates, MicroPort Scientific Corporation, Terumo Corporation, Endologix, Jotec GmbH, Boston Scientific Corporation and several others. Moreover, the players of this market are investing the high value of money for developing the techniques of treatment and employing specialist for decreasing the risk of loss which further benefitted for generating the high value of revenue and leading the fastest market growth during the short span of time.
The Global Aortic Aneurysm Industry is predicted to observe an effective CAGR of 6.6% during the forecast period of 2017-2023. The aortic aneurysm market is analyzed based on three segments such as type, product types, and regions. Whereas, based on the product, the market is sectored as stent grafts, catheters, and other accessories. The stent grafts segment controlled the foremost share in 2016, and is anticipated to increase at a rate of 6.75% during the forecast period. However, on the basis of geography, the market is spread around the globe such as North America, Europe, Asia Pacific, and Rest of the World (ROW). North America is set to be the foremost region for the aortic aneurysm market growth followed by Europe. Asia Pacific and ROW are set to be the developing regions. Japan is the second separate market after the US increasing with a double digit CAGR.
Although, the growing lifestyle diseases and smoking populace are the major factors that developed the chances for aortic aneurysm. Along with this, the significant increase in the aging population, favorable reimbursement, and effective technological advancements in products are fueling the growth of the aortic aneurysm market. Therefore, in the near future it is anticipated that the market of aortic aneurysm will increase across the globe more significantly over the decades.
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Ankur Gupta, Head Marketing & Communications