Thoracic Vascular Stent Grafts Market size was valued at USD 206.7 Million in 2023 and is anticipated to reach USD 440.88 Million by the end of 2036, expanding at around 6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of thoracic vascular stent grafts is assessed at USD 219.1 Million. The growth of the market can be attributed to the increasing prevalence of cardiovascular diseases throughout the world. According to the data provided by the World Health Organization (WHO), every year, approximately 17.9 million individuals die from CVDs throughout the world, accounting for 32% of all deaths. Further, dramatically changing eating habits, and evolving lifestyles are some further factors that are anticipated to boost the growth of the global thoracic vascular stent grafts market over the projected time frame.
In addition to these, factors that are believed to fuel the market growth of thoracic vascular stent grafts include the rising death toll of aneurysms throughout the world, coupled with the increasing proportion of the geriatric population. For instance, aortic aneurysm-related mortality is estimated to cause around 160,000–232,000 deaths annually across the globe with a survival rate of less than 20%. In addition to this, significant approval of thoracic vascular stent grafts by the FDA, along with surging awareness regarding these grafts, are further major factors that are estimated to expand the demand for thoracic vascular stent grafts over the forecast period.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
6% |
|
Base Year Market Size (2023) |
USD 206.7 Million |
|
Forecast Year Market Size (2035) |
USD 440.88 Million |
|
Regional Scope |
|
The global thoracic vascular stent grafts market is segmented and analyzed for demand and supply by end-user into hospitals, ambulatory surgical centers, medical centers, and others. Out of these types of segments, the hospitals segment is estimated to radically grow over the projected time frame. The growth of the segment can be attributed to the mounting incidences of CVDs throughout the world, coupled with a global increase in healthcare expenditure. For instance, as per the World Bank, global healthcare expenditure expanded to 9.83% in 2019 from 9.7% in 2018. Furthermore, the mounting number of patients visiting hospitals for diagnosis, followed by the availability of better medical reimbursement are some significant factors that are estimated to push the market growth further throughout the projected time frame.
The global thoracic vascular stent grafts market is also segmented and analyzed for demand and supply by product type into endovascular stent graft, hemodialysis access graft, peripheral vascular, and others. Amongst these segments, the endovascular stent graft segment is anticipated to grasp the largest market share, backed by the escalating adoption of the endovascular stent graft in the treatment of aneurysms including thoracic aortic aneurysms. Besides this, these stent grafts, in conjunction with antibiotics, can be utilized to treat mycotic aneurysms. In addition to this, escalating technology improvements in endovascular stent grafts have led to the development of a novel approach for treating a variety of aortic aneurysms, including those in the visceral arteries, this is another major factor that is estimated to significantly boost the growth of the market throughout the forecast period.
Our in-depth analysis of the global thoracic vascular stent grafts market includes the following segments:
|
By Type |
|
|
By Product Type |
|
|
By Application |
|
|
By End-User |
|
North America Market Forecast
The North America thoracic vascular stent grafts market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036. The growth of the market can be attributed majorly to the significant rise in the aged population, coupled with the high prevalence of cardiovascular diseases (CVDs) in the region. According to the Centers for Disease Control and Prevention, in the United States, heart disease accounted for the deaths of about 697,000 people in 2020. Besides this, nearly 20.1 million adults aged 20 and above are influenced by coronary artery disease. Further, the dynamically surging technological developments, along with the availability of favorable reimbursement policies, are some further factors that are projected to accelerate the market’s growth during the forecast period in the region.
Asia Pacific Market Forecast
Further, the Asia Pacific thoracic vascular stent grafts market is also anticipated to display prominent market growth by the end of 2036. The growth of the market can be attributed to the dynamically increasing demand for minimally invasive surgical procedures, coupled with the surge in the ratio of patients with cardiovascular diseases in the region. For instance, in 2019, CVDs were the major cause of mortality in Asia, accounting for around 11 million deaths, or nearly 38% of overall deaths in the region. Along with this, the huge surge in chronic kidney disease, and growing healthcare infrastructure are some significant factors that are estimated to propel the market growth in the region in the projected time frame. In addition, a notable increase in favorable reimbursement policies is also anticipated to propel the market growth during the forecast period in the region.
Terumo Corporation has launched the Thoraflex Hybrid Device for the treatment of complex aortic arch disease. The single-use device is comprised of a Gelweave polyester graft coupled to a Nitinol self-expanding stent.
Lifetech Scientific (Shenzhen) Co., Ltd. has attained a formal written notice from the National Medical Products Administration (“NMPA”) authorizing the admission of the Artery Stent Graft System (chimney technology) into the NMPA Special Examination and Approval Procedure for Innovative Medical Services. This is the world's first stent graft system engineered specifically for "chimney technology", a mainstream technology for treating aortic dissection lesions.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?