Global Aortic Stent Grafts Market Value to Exceed $1.9 Billion by 2020 is a new market research publication announced by Reportstack. The global aortic stent grafts market will increase in value from an estimated $1.2 billion in 2013 to just over $1.9 billion by 2020, representing a Compound Annual Growth Rate (CAGR) of 6.7%.
The report states that this growth, which relates to ten major countries, namely the US, France, Germany, Italy, Spain, the UK, Japan, India, China, and Brazil, will occur fastest in Japan, at a CAGR of 8.8%. While there will be a slower CAGR of 5.9% in the US, the country’s global market share will only fall from approximately 44% to 42% during the forecast period.
“The US will continue to have the largest share in the global aortic stent grafts market by 2020, but there remain concerns about the availability of devices, especially for treating challenging indications.
“Many devices that are already approved in other countries, such as fenestrated and branched stent grafts, are currently undergoing clinical trials in the US, preventing physician access to systems that can expand the treatment of a wide range of anatomies.”
Despite the high product price, physicians still see a significant benefit in providing endovascular options ahead of performing open surgery. “The economic downturn has been a source of continued concern for high-priced medical devices across the global market and aortic stent grafts are no exception.
“However, as physician education improves and access to clinical trial data increases, the outlook for aortic stent grafts appears strong, with much room for product improvement.”
The US’ cardiovascular sector is expected to continue expanding in response to technological developments and physicians’ acceptance of the products’ successful clinical performance. “Furthermore, the global market is based on, and will be driven by, the rising prevalence of aortic aneurysms and the aging population,” .
To access full report with TOC, please visit Global Aortic Stent Grafts Market Value to Exceed $1.9 Billion by 2020.