The global Thoracic Stent Graft Market witnessed substantial growth in 2020 and is projected to maintain a rapid revenue Compound Annual Growth Rate (CAGR) from 2021 to 2028. This growth can be attributed to several key factors, including an increase in the consumption of tobacco, alcohol, and junk food due to changing lifestyles. Furthermore, a growing awareness about aneurysms, a rise in the aging population, an increase in heart-related issues, and a surge in hypertension cases are also expected to contribute significantly to the expansion of the thoracic stent graft market.
The utilization of thoracic stent grafts involves a minimally invasive treatment called endovascular stent grafting, aimed at addressing descending thoracic aortic aneurysms. By reinforcing the wall of the thoracic aorta, these stent grafts prevent the aneurysm from rupturing. The procedure entails the implantation of tubular-shaped devices through catheter procedures, guided by imaging technology. These devices consist of a vascular conduit and a stent, and they are primarily employed in the treatment of endovascular aneurysms. By inserting thoracic stent grafts, medical professionals can provide crucial support to the affected area and prevent any potential rupture, all while using a minimally invasive approach.
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Major Companies Profiled In The Report:
- Abbott Laboratories
- Lombard Medical
- Cordis Corporation
- Terumo Corporation
- Boston Scientific
- MicroPort Scientific Corporation
- Medtronic
- Biosensors
- Lifetech Scientific
- Medtronic Plc
- Evasc Medical Systems Corp.
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Driving Factors of Thoracic Stent Graft Market:
- Increasing Prevalence of Aortic Aneurysms: The rising incidence of thoracic aortic aneurysms is a significant driver for the growth of the thoracic stent graft market. As the aging population grows and lifestyles continue to change, the occurrence of aortic aneurysms is becoming more common, leading to an increased demand for thoracic stent grafts as a treatment option.
- Minimally Invasive Treatment Adoption: Thoracic stent grafting offers a minimally invasive alternative to traditional surgical interventions for aortic aneurysms. This less invasive approach leads to shorter hospital stays, reduced recovery times, and lower overall healthcare costs, driving its adoption among both patients and healthcare providers.
- Technological Advancements: Continuous advancements in medical technology, such as improved stent materials, imaging techniques, and catheter procedures, have enhanced the effectiveness and safety of thoracic stent grafts. These innovations have contributed to increased confidence among physicians and patients, boosting market growth.
- Growing Geriatric Population: The global aging population is at a higher risk of developing aortic aneurysms and related cardiovascular conditions. As the elderly population continues to grow, the demand for thoracic stent grafts as a treatment option is expected to rise significantly.
Restraints of Thoracic Stent Graft Market:
- High Treatment Costs: The cost of thoracic stent graft procedures can be relatively high, which may limit access to these treatments, particularly in developing regions with limited healthcare resources and lower-income populations.
- Reimbursement Challenges: In some healthcare systems, obtaining reimbursement for thoracic stent graft procedures can be complex and time-consuming. This may create financial burdens for patients and deter healthcare providers from offering the treatment.
- Limited Awareness: Despite increasing awareness about aortic aneurysms, there might still be a lack of knowledge among the general public about thoracic stent grafts as a viable treatment option. This limited awareness could hinder market growth as patients may opt for traditional surgical methods or remain untreated.
- Potential Complications: While thoracic stent grafting is generally considered a safe procedure, there are potential risks and complications associated with any medical intervention. Concerns about possible adverse effects or complications may influence some patients and physicians to consider alternative treatment options.
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