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Endovascular Treatment Devices Market Size
Endovascular Treatment Devices Market size is anticipated to experience significant growth between 2024 and 2032 driven by higher application potential in the treatment of acute ischemic stroke. In March 2022, acute ischemic stroke, impacting around 700,000 individuals annually, stood as a significant contributor to both death and disability in U.S.
The increasing prevalence of abdominal aortic aneurysms (AAA) worldwide, has propelled the demand for minimally invasive procedures, such as endovascular surgery. In the U.S., around 200,000 people are diagnosed with AAA each year. The adoption of harmful lifestyle habits and excessive smoking is expected to contribute to the rising number of AAA patients globally, highlighting the importance of procedures, such as endovascular aneurysm repair (EVAR).
Endovascular Treatment Devices Market Trends
The ongoing technological advancements in minimally invasive surgeries and the increasing R&D activities will also boost the industry outlook in the forecast period. For instance, in April 2022, a group of engineers from the Massachusetts Institute of Technology (MIT) unveiled a telerobotic system designed for endovascular interventions to remotely treat patients suffering from aneurysms or strokes.
Endovascular Treatment Devices Market Analysis
The cardiology segment is expected to emerge as a prominent revenue pocket for the industry through 2032, owing to the increasing burden of heart attacks across the globe. The rising research activities will also favor the segment progression. The Journal of American College of Cardiology published a study in August 2021, projecting the prevalence of cardiovascular diseases between 2025 and 2060.
The rate of strokes and heart failures in the U.S. is estimated to experience a 33.8% and 33.4% surge respectively, followed by a 30.7% rise in ischemic heart diseases and 16.9% jump in heart attacks. Therefore, the growing burden of cardiovascular diseases is expected to accelerate the value for endovascular treatment for cardiology-related health issues.
Europe endovascular treatment devices market is poised to generate notable revenues throughout 2024-2032, attributed to the increasing prevalence of acute ischemic strokes. As per NIH, around 1.1 million residents of Europe experience a stroke annually, with ischemic stroke constituting roughly 80% of these cases. Countries, such as Hungary, Romania, Bulgaria, Poland, and the Czech Republic account for the highest rate of diseases, representing a significant need for effective endovascular treatment. The growing R&D projects in the field of cardiovascular treatment, including the DEEP (Devices for Augmented Endovascular Navigation in Complex Pathways), implemented by the French institute Agence Nationale de la recherche will also influence industry gains.
Endovascular Treatment Devices Market Share
Some of the major endovascular treatment devices companies are:
- Terumo Corporation
- Endospan
- Boston Scientific
- Cardinal Health
- InspireMD
- Orchestra BioMed
- LifeTech Scientific
- Lombard Medical Technologies
These firms are focusing on strategic ventures, partnerships, and collaborations along with new product development initiatives to consolidate competitive lead in the industry.
Endovascular Treatment Devices Industry News
- In September 2023, Orchestra BioMed received FDA approval for an IDE to initiate the BACKBEAT pivotal study of BackBeat CNT for the treatment of hypertension in pacemaker patients.
- In January 2024, Gore disclosed the FDA approval for the Gore Excluder thoracoabdominal branch endoprosthesis (TAMBE). The company asserts that this marks the introduction of the first off-the-shelf endovascular remedy designed for addressing intricate aneurysmal conditions affecting the visceral aorta.