An endovascular stent is a fabric tube grafted during the endovascular surgery to treat aneurysm by various surgical invasive procedures. The technological advancement in the field of surgical areas from open surgeries to the endovascular surgeries upsurge the demand for the endovascular stents.
According to American Heart Association, U.S. sets out to have more than 48% of the cardiovascular patients in 2019. Additionally, in 2015 according to CDC data estimation, more than 6,00, 000 patients fatal each year in U.S. owing to increased prevalence of abdominal aortic aneurysm (AAA) and was considered as the top cause for the mortality.
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The COVID-19 outbreak has affected the global economy in several ways such as limited care units and ventilation sites, labor shortage, lack of raw materials and halt on transportation. The business complexities with respect to disruption of the production of medical devices has projected to show short-term negative impact on the global market. In addition, reduced hospital visits and reschedule of the surgeries due to COVID-19 outbreak is expected to decline short-term growth of the endovascular stent market during the forecast period.
Endovascular stent market: Drivers and Restraints
Rising prevalence of aneurysm disease, and the cardiac complications within the growing geriatric population are the major factors that expected to drive the endovascular stent market growth during the forecast period. The frequent occurrence of the ailments such cardiovascular disorders, aortic aneurysm, or artery disease and inclination to minimally invasive surgical procedures has led to propel the endovascular stent market growth. Furthermore, attribution to superior lifestyle choices such as alcohol consumption, smoking and unhealthy diet habits of an individual has been led to rise in the incidence of cardiovascular diseases that projected to drive the endovascular stent market during the forecast period. The high cost of the treatment and the associated complications expected to restrain the endovascular stent market growth during the forecast period.
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Endovascular stent market: Segmentation
Based on the product, the endovascular stent market is segmented as:
- Endovascular aneurysm repair (EVAR) stent
- Fenestrated EVAR
- Aortic stents
- Thoracic aortic aneurysm graft stents
- Others
Based on the application, the endovascular stent market is segmented as:
- Thoracic Aortic Aneurysm
- Abdominal aortic aneurysm (AAA)
Based on the end user, the endovascular stent market is segmented as:
- Hospitals & Cardiovascular centers
- Ambulatory Surgical Centers
- Others
Based on region, the endovascular stent market is segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle-East & Africa (MEA)
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Endovascular stent market: Overview
The global endovascular stent market manifests a considerable growth during the forecast period owing to rise in prevalence of cardiovascular complications. Based on the product, the endovascular aneurysm repair (EVAR) stent segment hold the largest share owing to the technological advancement in the surgical devices anticipated the rising demand for the EVAR stents in the global endovascular stent market. Based on the application, abdominal aortic aneurysm (AAA) segment dominated the endovascular stent market due to increased prevalence abdominal aortic aneurysm incidence in the region. Hospitals and the cardiovascular centers dominate end user segment owing to the availability of advanced medical devices, ease of treatment, with health policies assurance facilities.
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Endovascular stent market: Region-wise Outlook
North America expects to dominate the endovascular stent market during the forecast period owing to increasing prevalence of cardiovascular disease, acquired advanced treatment, and availability of reimbursement. Europe is the second leading region due to rise in geriatric population and rising adoption of medical devices in the region. South Asia and East Asia regions witnessed significant growth during the forecast period due to initiation of the regional government, and increasing healthcare expenditure that expects to drive the endovascular stent market
Other regions like Latin America and Middle East and Africa are emerging regions in the endovascular stent market.
Endovascular stent market: Leading Key Players
The major players contributing in endovascular stent market are Abbott Laboratories, Boston Scientific Co., Medtronic plc, Cardinal Health, Inc., B. Braun Melsungen AG, Biotronik Se & Co., Cook Medical, Inc., Terumo Co., Microport Scientific Co., Meril Life Sciences Pvt Ltd., C.R. Bard, Vascular Concepts Ltd., VentureMed, Inc., W.L. Gore and Associates, Inc., Endologix, Inc., Translumina GmbH, Lombard Medical Technologies, and others.
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