The global thoracic vascular stent grafts market is poised for significant expansion, with an anticipated average Compound Annual Growth Rate (CAGR) of 3.4% between 2023 and 2033. Market projections suggest that by 2033, the industry will achieve a market share of US$ 278.9 million, reflecting a substantial increase from its estimated value of US$ 199.3 million in 2023.
This optimistic trajectory is underpinned by several key factors driving demand in the market. Advancements in medical technology have paved the way for innovative solutions in the treatment of thoracic vascular diseases. Furthermore, there has been a notable rise in the prevalence of these diseases, necessitating effective treatment options. Concurrently, there is increasing awareness among healthcare professionals and patients alike regarding the efficacy of stent grafts in managing thoracic vascular conditions.
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“The anticipated growth of the global thoracic vascular stent grafts market is indicative of the evolving landscape of medical interventions,” said FMI. “As technological innovations continue to enhance the capabilities of medical devices, patients can benefit from safer and more effective treatment options for thoracic vascular diseases.”
Stent grafts offer a minimally invasive alternative to traditional surgical procedures, providing patients with reduced recovery times and lower risk of complications. This has contributed to their growing acceptance among healthcare providers and patients seeking optimal outcomes in thoracic vascular care.
As the market for thoracic vascular stent grafts continues to expand, stakeholders across the healthcare spectrum are urged to stay abreast of these developments. By embracing innovative solutions and fostering collaboration within the industry, we can collectively strive towards improving patient outcomes and addressing the evolving needs of thoracic vascular care.
Key Takeaways:
- The United States market leads the thoracic vascular stent grafts industry in terms of market share in North America. The United States region held a market share of 34% in 2022. The growth in this region is attributed to the increased health budget, introduction of surgery alternatives, and increasing elderly population. North America’s market held a share of 36.7% in 2022.
- Germany’s market is another important market in the Europe region. The market held a market share of 5.7% in 2022. The growth is attributed to affordable healthcare facilities, high-end research, home-based healthcare solutions etc. Europe’s market held a market share of 28.3% in 2022.
- India’s thoracic vascular stent grafts industry thrives at a CAGR of 3.5% between 2023 and 2033. The growth is attributed to the authorities expanding their healthcare systems while advancing surgical and non-surgical methods.
- China’s market also thrives at a CAGR of 4.1% during the forecast period. The flourishing growth is caused by the advanced government healthcare system along with the extended medical research and development measures.
- Based on the product type, the metal thoracic vascular stent graft segment leads the market as it held a significant share of 62.1% in 2022.
- Based on end-user, the hospitals segment leads the market as it held a notable market share of 77.2% in 2022.
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Competitive Landscape:
The key healthcare providers focus on the integration of smart imaging and sensory technology that helps the patients. Further, the competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments:
- Cook Medical has added the Zenith Alpha Thoracic Endovascular Graft Proximal Component. The product is suitable for introductory systems.
- Jotec GmbH has introduced pure performance-based stent graft systems that include endovascular stent graft systems, conventional vascular prostheses, and interventional accessories like sheaths, balloon catheters, and guide wires.
Key Players Profiled in the Market:
- Medtronic
- Jotec GmbH
- Cook medical
- MicroPort Scientific Corporation
- Terumo Corporation
- Others
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Key Segments Covered:
By Product Type:
- Plastic Thoracic Vascular Stent Grafts
- Metal Thoracic Vascular Stent Grafts)
By End Use:
- Hospitals
- Ambulatory Surgical Centers
Key Regions Covered:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific Excluding Japan
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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