Thoracic Vascular Stent Grafts Market Trends

Growth Drivers

• Increasing Geriatric Population – As people get older, they face a slew of health issues. Moreover, people have a slow recovery rate in their old age, therefore elderly people face a variety of health problems that have a significant influence on their overall quality of life. As per the World Health Organization, in 2019, globally there, were approximately 1 billion people aged 60 and over. This number is expected to increase by nearly 1.4 billion by 2030 and 2.1 billion by 2050.
• Growing Cases of Hypertension – Hypertension, often referred to as high or increased blood pressure, is a disorder characterized by chronically elevated blood vessel pressure. The harder the heart has to pump blood, the higher the pressure. Hypertension is a significant medical condition that raises the risk of heart, brain, and renal problems, among other problems. It is one of the leading causes of death worldwide. For instance, since 1990, the number of people with hypertension across the globe has doubled to 1.28 billion by 2021. Furthermore, more than 700 million people worldwide are currently coping with untreated hypertension.
• Increasing Consumption of Tobacco – As per the World Health Organization statistics, every year, tobacco kills over 8 million people throughout the world. More than 7 million such deaths are caused by direct tobacco usage, whereas approximately 1.2 million are caused by nonsmokers being exposed to second-hand smoke.
• Upsurge in Fast Food Consumption – For instance, approximately 51 million individuals in the United States prefer to eat fast food on any given day. Whereas, nearly 22% of individuals consume fast food a minimum of twice a week.
• Rising Per Capita Income – According to the World Bank, compared to 2019, the global annual per capita income increased by 4.8% in 2021, while it only increased by 1.5% in 2019.

Challenges

• High Cost of Thoracic Vascular Stent Grafts Treatment - Thoracic vascular stent grafting is a relatively recent treatment modality in the vascular stent graft sector that has shown remarkable outcomes. Hence, this modality is expensive as compared with the other conventional methods and is anticipated to hamper the market growth over the projected time frame.
• Growing Acceptance of Balloon Angioplasty
• Hurdles Associated with Thoracic Stent Grafts