Global Endovascular Devices Market valued at $5.4 billion

BRUSSELS, BELGIUM, Aug. 08, 2022 (GLOBE NEWSWIRE) —

Description:

Endovascular surgery is an innovative procedure that is performed using minimally invasive catheter techniques on the arteries or veins. Procedures include aneurysm repair, cardiovascular disorders, peripheral vascular diseases, renal vascular diseases, deep vein thrombosis (DVT), varicose vein repair, stroke, among others. A wide variety of guidewires, catheters, crossing devices, balloons, stents, atherectomy devices, drug-coated devices, and other devices are used for endovascular treatment.

Growing Preference for Endovascular Aneurysm Repair (EVAR) Procedure Opens Growth Opportunities in Endovascular Devices Market

An aortic aneurysm is a bulge that occurs in the wall of the aorta that carries blood from the heart to the body. It increases the risk of developing a tear in the inner layer of the wall of the aorta. An aortic aneurysm can be abdominal or thoracic. An abdominal aortic aneurysm (AAA) occurs when a portion of the abdominal aorta bulges into an aneurysm because of a weakening of the vessel wall. AAA may result in life-threatening internal bleeding upon rupture and hence patients diagnosed with AAA are treated with open surgical repair or mostly via less invasive endovascular aneurysm repair (EVAR). During the EVAR procedure, a stent graft is inserted into the aorta which protects the aorta from tearing. The EVAR is widely accepted as a standard of care for aortic aneurysms & supported by vascular surgeons due to the following benefits:

  • Shorter stay in the hospital.
  • Relatively less blood loss
  • Faster return to routine activities
  • Shorter procedure time compared to open surgery, among others

Citing the lucrative prospects of EVAR technology, companies are launching innovative products in new markets. For instance,

  • In May 2021, Endologix launched Alto® Abdominal Stent Graft System in Canada and Argentina. The launch boots the company’s global reach with the latest endovascular aneurysm repair (EVAR) technology.

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Endovascular aneurysm repair (EVAR) has emerged as a safe, and effective method of treating abdominal aortic aneurysms if it lowers the risk of life-threatening tears & ruptures. Technological advances in EVAR have not only allowed vascular surgeons to achieve therapeutic aims but also reduced procedural risks and patient discomfort.Director, Leading Endovascular Device Manufacturer, United States

Technological Advancements are driveragony tea Endovascular Devices Market

The global endovascular devices market is a technology-driven market and is marked by product enhancements/innovations. For instance,

  • In June 2022, Medtronic India launched a fourth-generation flow diverter, Pipeline Vantage with Shield Technology for endovascular treatment of brain aneurysms.

Organic and Inorganic Growth Strategies Adopted by Market Players to Establish Their Foothold in Endovascular Devices Market

The endovascular devices market is marked by the presence of both established and new players. Players operating in the market adopt both organic and inorganic growth strategies such as acquisitions, and new product launches to garner higher market share. For instance,

  • In March 2022, Cook Medical received FDA Breakthrough Device Designation for Zenith® Thoraco+ Endovascular System. The Thoraco+ is built on the strength of the proven Zenith platform and represents a next-generation endovascular graft for the treatment of thoracoabdominal aortic aneurysms. The system is indicated for the endovascular treatment of patients with thoracoabdominal aortic aneurysm.

The global endovascular devices market is expected to continue its growth in the upcoming years due to growing cases of peripheral, aortic, & venous diseases, an increase in the smoking population, growth opportunities in the APAC region, technological advancements in endovascular devices, and favorable reimbursement in key markets.

Competitive Landscape Analysis: Endovascular Devices Market

The global endovascular devices market is marked by the presence of established and emerging players such as Cordis, Medtronic, Boston Scientific, Cook Medical, Abbott, Gore Medical, Cardiovascular Systems, Inc. (CSI), Terumo, among others.

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About Medi-Tech Insights:

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have successfully completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

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