Abdominal Aortic Aneurysm Repair Devices Market: Global Insights
Abdominal Aortic Aneurysm (AAA) refers to the enlargement in part of the aorta, the main blood vessel that delivers blood to the body, which passes through the abdomen. AAA usually affects people over 50 years and is more common in men as compared to women. Others risk such as smoking and high blood pressure can also cause AAA. Previously, AAA was treated with open surgery, however, it has been replaced with endovascular stent grafting. Endovascular stent grafting is a minimally invasive procedure and has various advantages over open surgery such as reduced blood loss, operative time, hospital stay, mortality, and morbidity.
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Abdominal Aortic Aneurysm Repair Devices Market Drivers
Key players in the abdominal aortic aneurysm repair devices market have launched various new products for AAA treatment and this has positively affected growth of the market. For instance, in 2017, Lombard Medical Inc. received approval from the Japanese Ministry of Health, Labour and Welfare for its new IntelliFlex Low Profile (LP) Delivery System for the Aorfix Endovascular Stent Graft. In 2016, Lombard Medical, Inc. received CE Mark approval for its IntelliFlex Low Profile (LP) Delivery System for the Aorfix Endovascular Stent Graft. In 2013, Lombard Medical Inc. launched its Aorfix, a latest endovascular stent graft in the U.S. market. In 2014, Cordis Corporation (now a part of Cardinal Health, Inc.) launched its INCRAFT AAA Stent Graft System (INCRAFT System), a device for use during endovascular aneurysm repair (EVAR) for patients suffering from infrarenal AAA. In 2015, Endologix, Inc. received approval from the Japanese Ministry of Health, Labour and Welfare (MHLW) for its AFX Endovascular AAA System for the treatment of abdominal aortic aneurysms. In 2014, Medtronic Plc. received approval for its new Endurant IIs in the U.S. and Europe. Endurant IIs is a latest stent graft system for the endovascular repair of abdominal aortic aneurysms. These approvals have led to development of novel products in the market, which is expected to drive growth of global abdominal aortic aneurysm repair devices market in the near future. Increasing collaborations and acquisition activities by key players in market is also expected to support growth of global abdominal aortic aneurysm repair devices. For instance, in 2016, Microport Scientific Corp.—a China-based company—entered in strategic partnership with Lombard Medical Inc. According to the partnership, Microport Scientific Corp. invested US$ 15 million in Lombard Medical Inc. and gained exclusive marketing rights of Lombard’s Aorfix and Altura stent graft in China and Brazil as well as the manufacturing rights in China. In 2015, Cardinal Health Inc. completed the acquisition of Johnson & Johnson’s Cordis business at US$ 1.9 billion.
Abdominal Aortic Aneurysm Repair Devices Market Regional Analysis
North America is expected to hold a dominant position in the global abdominal aortic aneurysm repair devices market, owing to presence of major players and frequent launches of novel devices in market. For instance, Medtronic Plc., Cardinal Health, Inc., and Boston Scientific Corporation, the major players in the market are headquartered in the U.S. Furthermore, in 2015, Cook Group Incorporated launched its latest Zenith Alpha abdominal endovascular graft in Canada. Zenith Alpha abdominal is indicated for endovascular treatment of patients with abdominal aortic aneurysm. In 2015, few weeks after approval of Cook Medical’s Zenith Alpha in Canada, the University of Western London Health Sciences in Ontario, Canada treated the first patient with the Zenith Alpha.
Asia Pacific is also expected to exhibit high growth in the global abdominal aortic aneurysm repair devices market, owing to increasing approvals of novel devices by major regulatory bodies in the region. For instance, in Lombard Medical, Inc. received approval for its new AorFlex delivery system from the Japanese Ministry of Health, Labour and Welfare. AorFlex is a delivery system for Aorfix endovascular stent graft indicated for the treatment of AAA.
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Abdominal Aortic Aneurysm Repair Devices Market Key Players
Major players operating in global abdominal aortic aneurysm repair devices market includes: Medtronic Plc., Cardinal Health Inc., Lombard Medical Inc., Endologix, Inc., Cook Group Incorporated, Boston Scientific Corporation, Terumo Corporation, and W. L. Gore & Associates, Inc. Key players in the market are focusing on strategic collaborations and acquisitions, in order to expand its abdominal aortic aneurysm repair devices portfolio and geographic reach. For instance, in 2017, Terumo Corporation acquired Bolton Medical, Inc.—a U.S.-based provider of endovascular solutions for aortic disease. Terumo Corporation expanded its existing product portfolio with this strategic acquisition.
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