The global thoracic stent graft market size was significantly large in 2022, and is expected to continue to register a rapidly inclining revenue CAGR between 2023 and 2032. Key factors responsible for driving market revenue growth are rising consumption of tobacco and alcohol, changing lifestyles and surging consumption of junk food. In addition to that, increasing awareness about aneurysm, rising geriatric population, surging increased heart problems, and growing cases of hypertension among people are likely to drive the thoracic stent graft market.
Thoracic stent graft uses a minimally invasive treatment named endovascular stent grafting to treat descending thoracic aortic aneurysms. It strengthens the thoracic aorta\’s wall to keep the aneurysm from rupturing. Thoracic stent grafts are tubular-shaped devices that are implanted using imaging guidance and catheter procedures. These are made up of a vascular conduit and a stent. Thoracic stent grafts are mainly used during the treatment of endovascular aneurysm. In this type of minimally invasive treatment, thoracic stent grafts are inserted in patients to support the injured area and prevent it from rupturing.
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An endovascular stent graft is a fabric tube that strengthens a weak area in the aorta and is maintained by metal wire stents. An aortic aneurysm can be treated with the help of a minimally invasive procedure named endovascular grafting. In this procedure, an endovascular stent graft is inserted into the aorta, rather than through the weak area of the aneurysm sack, where the blood flows uninterruptedly. An arteriovenous graft is a form of hemodialysis access that is normally implanted in the arm, but if necessary, it can also be inserted into the leg.
Major Factors Driving Growth Of The Global Thoracic Stent Graft Market:
Revenue growth of the global thoracic stent graft market is significantly driven by increasing number of individuals suffering from cardiovascular disorders, obesity, and diabetes across the globe. Furthermore, increased adoption of thoracic stent graft to treat aortic disease and rising demand for minimally invasive surgeries are expected to boost the global thoracic stent graft market growth. Additionally, increased attempts to raise awareness of this surgery and surging adoption of thoracic stent graft treatments globally are expected to bolster growth. Furthermore, increasing number of clinical trials, significant technological improvements, evolution of diagnostic imaging, and high demand for minimally invasive procedures are expected to drive the thoracic stent graft market during the forecast period.
Factors Restraining Growth Of The Global Thoracic Stent Graft Market:
The global thoracic stent graft market growth is substantially hampered by several unfavorable factors. Lack of awareness in developing countries and high cost of treatment are the primary hindrances for the thoracic stent graft market. Additionally, increasing acceptance of balloon angioplasty and various risks & complications associated with thoracic stent grafts may further impede market growth in the near future.
Opportunities For Players Operating In The Global Thoracic Stent Graft Market:
Rapid technological advancements in the field of thoracic stent grafts and increasing number of clinical trials are expected to boost the demand for thoracic stent grafts in the upcoming years. Ongoing development of healthcare infrastructure and presence of favorable reimbursement policies in developing countries are also expected to open up lucrative business opportunities for major players and new entrants in the market.
Global Thoracic Stent Graft Market Revenue Led By Product Type Segment:
Based on product type, the endovascular stent graft segment is set to lead the global thoracic stent graft market. Increasing technological advancements in endovascular stent graft have resulted in the emergence of a novel technique to treat numerous aortic aneurysms, including visceral arteries. Also, high demand for endovascular aortic repair operations from patients across the globe is projected to drive this segment.
Global Thoracic Stent Graft Market Leading Application Segment:
Based on application, the cardiovascular diseases segment is expected to dominate all other segments in terms of revenue growth over the forecast period. The primary factor driving this segment’s growth is increasing prevalence of cardiovascular diseases across the globe. Besides, increasing acceptance of stenting operations and rapid technical improvements are also expected to strengthen the segment\’s growth in the forecast period.
North America Accounts For Largest Revenue Share In Global Thoracic Stent Graft Market:
Among regional markets, North America emerged as the largest market for thoracic stent grafts. Technological advancements in the field of stent graft systems and presence of significant surgical device manufacturers are anticipated to accelerate market growth in this region. Furthermore, higher prevalence of aortic aneurysms in the United States would drive the demand for thoracic stent grafts. Europe, on the other hand, is expected to show high revenue growth over the forecast period, due to the presence of leading industry players in the region.
Asia Pacific Continues To Lead In Terms Of Revenue CAGR:
The Asia Pacific thoracic stent graft market is expected to register the fastest CAGR over the forecast period. High demand for minimally invasive medical procedures is expected to contribute to market growth in this region. Also, expansion of healthcare infrastructure and favorable reimbursement policies in this region would also propel the thoracic stent graft market growth in the near future.
Major Companies Profiled In The Report:
- Abbott Laboratories
- Lombard Medical
- Cordis Corporation
- Terumo Corporation
- Boston Scientific
- MicroPort Scientific Corporation
- Lifetech Scientific
- Medtronic Plc
- Evasc Medical Systems Corp.
- L.Gore & Associates, Inc.
- TriVascular, Inc.
Strategies And Objectives Of Major Companies:
- In October 2020 Cook Medical announced that Zilver Vena received FDA Premarket Approval (PMA) in the United States. The product is expected to be commercially available to physicians in the United States in Q4 2020. Zilver Vena is a self-expanding stent approved to treat patients suffering from iliofemoral venous disease. Venous disease is a condition where the body cannot properly pump blood through veins back to the heart.
- In July 2020, Medtronic plc, the global leader in medical technology, announced the start of a prospective, observational, global, multi-center, real-world, post-market study to evaluate the safety and effectiveness of the Valiant Navion Thoracic Stent Graft System in the treatment of thoracic aortic dissection.
What Our Report Provides And Why Our Offering Is Better:
This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global Thoracic Stent Graft market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global Thoracic Stent Graft Market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.
Detailed Segmentation In Our Report:
For the purpose of this report, global thoracic stent graft market is segmented on the basis of product type, application, and region:
Product Type Outlook (Revenue, USD Billion; 2023-2032)
- Hemodialysis Access Graft
- Endovascular Stent Graft
- Peripheral vascular
Application Outlook (Revenue, USD Billion; 2023-2032)
- Cardiovascular Diseases
- Cardiac Aneurysm
- Kidney Failure
Region Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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