The aortic aneurysm market has made some exciting strides in the evolution trajectories. Rising incidence of abdominal aortic aneurysms despite its declining prevalence in past couple of decades has underpinned those strides. Various risk factors for increased incidence are rapidly rising aging population, better uptake of screening programs, substantial progress in diagnostic tools capabilities, and growing population of smokers, world over. Aortic aneurysm is characterized by pathologic dilatation of aortic segment that are prone to rupture if untreated. Aortic aneurysm thus brings substantial morbidity and mortality. In untreated abdominal aortic aneurysm rupture, mortality reaches 100%. Hence favorable etiology and epidemiology has driven the evolution of the market.
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Substantial Advances Made in Endovascular Surgical Procedures expand Potential
Recent efforts by researchers in understanding the pathophysiology of aortic aneurysm bodes well for the market. Rising prevalence of lifestyle-driven disease is a key factor bolstering the demand for the diagnosis and treatment of aortic aneurysm. The aortic aneurysm market is also receiving some impetus from growing number of genomic studies aimed at studying the risk factors. In addition, substantial advances made in endovascular surgical procedures have also expanded the potential of the market. Furthermore, incessant advancements in stent grafts, especially relating to their design, has opened a new avenue for market players.
The global aortic aneurysm market has also benefitted increasingly from the growing approval of various products in developed countries, such as by the U.S. FDA. However, the regulatory ecosystem is still stringent, making the launch of new products still a tough task for manufacturers. Prominent medical device makers are increasing their spending on their research and development activities. They are also targeting emerging markets.
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The market gains an attractive momentum from growing shift toward value-based care in numerous developing and developed countries. The global aortic aneurysm market is also witnessing solid push from growing expertise of healthcare workers.