The global thoracic vascular stent grafts industry is anticipated to expand its roots at an average CAGR of 3.4% between 2023 and 2033. The market is expected to have a market share of US$ 278.9 million by 2033 while it is likely to be valued at US$ 199.3 million in 2023.
- The rising cases of degenerative thoracic aortic aneurysms and patients choosing alternatives to surgical repair are flourishing the demand for stent grafts. Furthermore, extended research and development along with advanced healthcare facilities are helping the market expand its boundaries.
- The new trend of the combined usage of thoracic and abdominal aortic stent grafts are helping in endovascular repair. The method is effective in the wide neck abdominal aortic aneurysm. Hence, impactful integration is likely to transform the market during the forecast period.
- The usage of stent grafts helps the patients with no surgical side effects. The fast, easy and non-surgical method is getting famous among patients. Alongside this, affordable pricing and the inclusion of alternative methods in healthcare facilities are increasing sales.
- The rising elderly population, high chances of paraplegia, and rising awareness around these conditions are expected to help the patients while flourishing the sales of thoracic vascular stent grafts.
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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
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