Endovascular Treatment Devices Market Size is likely to expand commendably from 2022 to 2028. This is due to the emergence of endovascular therapy as a highly efficacious treatment for patients with acute ischemic stroke due to large vessel occlusion, thus promoting post-stroke functional independence. The high incidence of abdominal aortic aneurysms, predominantly in males, and the potential increase in the demand for less invasive procedures like endovascular surgery will also drive industry growth over the coming years. Endovascular surgery refers to an innovative procedure used to treat patients with aneurysms and other issues with the blood vessels. During this procedure, an endovascular graft is inserted via the arteries in a catheter and positioned inside the aorta. The graft then expands and seals off the enlarged parts of the artery, preventing blood from entering the aneurysm.
Rapid technological innovation and the significant advancement in minimally invasive surgeries will propel the endovascular treatment devices market trends over 2022-2028. Endovascular surgical procedures are widely performed through the adoption of minimally invasive catheter techniques on veins and arteries to treat conditions including peripheral vascular and cardiovascular disorders. According to the Peterson-KFF Health System Tracker, healthcare spending per U.S. person was estimated at $10,966 in 2019. These aforementioned factors are projected to amplify the need for endovascular treatment for heart diseases and other conditions in the upcoming years.
Cardiology will emerge as a prominent application segment for the endovascular treatment devices industry by 2028, owing to the growing burden of heart attacks worldwide. As per the WHO, more than 4 out of 5 cardiovascular disease-related deaths are due to strokes and heart attacks. Situations such as these, alongside the mounting number of older people, will also drive the segmental growth, as population aging is linked with the growing prevalence of CVDs worldwide.
From a regional perspective, the Europe endovascular treatment devices market is expected to depict a strong growth rate through 2028. This can be credited to the escalating rate of mortality among those who experience an acute ischemic stroke in countries including the UK. Since there are enhanced functional outcomes observed among patients who have undergone endovascular therapy than those with medical management, the rising disease burden will generate opportunities for regional market expansion over the estimated timeline. Moreover, the high incidence of heart or circulatory diseases will also fuel the deployment of endovascular treatment for stroke and other cardiovascular conditions in the region.
Key endovascular treatment devices market participants include Endospan, Boston Scientific, Lombard Medical Technologies, InspireMD, Cardinal Health, Orchestra BioMed, LifeTech Scientific, Terumo Corporation, and Nellix, among others. These firms are implementing various strategies including new device launches, acquisitions, mergers, and business expansions to boost their footprint in the competitive market.
For instance, in November 2021, Endospan published the 30-day and 1-year safety and performance outcomes of its off-the-shelf endovascular Nexus graft systems, designed to treat thoracic aortic lesions that involve the aortic arch. In September 2021, Boston Scientific Corporation inked a deal to acquire Devoro Medical, the WOLF Thrombectomy Platform developer, geared towards expanding its interventional strategies for thromboembolism, including the EkoSonic Endovascular System.
The novel COVID-19 outbreak has resulted in a decline in the number of patients seeking care for strokes and heart attacks worldwide, due to fear of virus transmission at medical facilities. These factors may have adversely impacted the endovascular treatment devices industry size over the past months. Despite these setbacks at the peak of the crisis, the growing awareness about the potential impact of the virus on cardiovascular health during and after the pandemic may help the industry regain traction over the foreseeable future.
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