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The global Thoracoabdominal Aortic Aneurysm was valued at USD 3.8 billion in 2022, with an expected growth to USD 5.4 billion by 2032, exhibiting a revenue CAGR of 3.14% during the forecast period. The market growth is attributed to the rising prevalence of Ascending Aortic Aneurysm, which is a serious medical disorder that causes an unnatural bulging of the aorta wall.
The occurrence of Thoracoabdominal Aortic Aneurysms can happen in any part of the aorta, but they are predominantly detected in the thoracic and abdominal regions. Additionally, the growth of the market is being impacted by the growing elderly population, which is a major contributor to the increasing prevalence of the disease, as well as the escalating incidence of risk factors such as smoking, high blood pressure, and high cholesterol levels. The significance of early detection and treatment cannot be overstated, and it is driving the need for innovative treatments such as minimally invasive surgeries, including endovascular repair, which are less invasive and offer a quicker recovery period.
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The recognition of the significance of prompt diagnosis and treatment has been increasing, which is driving the growth of the market. The revenue growth is expected to be fueled by the development of minimally invasive surgical procedures, including endovascular repair, which provide less invasive and faster recovery alternatives to open surgery.
Key Players in the Thoracoabdominal Aortic Aneurysm –
Some of the key players in the global Thoracoabdominal Aortic Aneurysm include:
- Medtronic
- Cook Medical
- Endologix
- Terumo Corporation
- Gore Medical
- Cardinal Health
- L. Gore & Associates
- Abbott Laboratories
- Lombard Medical
- Braun Melsungen AG
These companies are focused on expanding their product portfolio and launching innovative products to meet rising demand from various regions. They also engage in strategic partnerships and collaborations to strengthen their position in the market.
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Rising numbers of government initiatives aimed at spreading awareness about Ascending Aortic Aneurysms, encouraging early detection and treatment, are also driving market expansion, as are lifestyle disorders such as obesity, diabetes, and hypertension. Increased research and development efforts aimed at creating new therapies and technologies are expected to have a positive impact on the market.
However, the high cost of care and the absence of reimbursement schemes for Ascending Aortic Aneurysm procedures in developing nations could restrain revenue growth to some extent. The global market for Ascending Aortic Aneurysm is regulated by government bodies such as the FDA in the US, CMS, and CDSCO in India, among others.
The market is segmented by product type, with the ascending segment accounting for the largest revenue share in 2022. The leading players in the Thoracoabdominal Aortic Aneurysm are focused on expanding their product portfolio and launching innovative products to meet rising demand from various regions.
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