Endovascular Devices Market to Sustain Modest Growth in Next Four Years

Solid growth is predicted for the worldwide endovascular devices market over the next few years.

Medi-Tech Insights valued the market at $5.4 billion in 2021 and predicts it will grow 5% annually through 2026. Fueling the sector’s expansion is a growing preference for endovascular aneurysm repair (EVAR) procedures, technological advancements in endovascular devices, the world’s aging population (and corresponding rise in the prevalence of cardiovascular diseases), lifestyle factors (diet, exercise), ease and availability of endovascular procedures, and favorable reimbursements for endovascular procedures.

Endovascular surgery is performed using minimally invasive catheter techniques on 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.
 
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 aorta wall. Aortic aneurysms can be abdominal or thoracic; an abdominal aortic aneurysm (AAA) occurs when a portion of the abdominal aorta bulges into an aneurysm due to a vessel wall weakening. Since AAA may result in life-threatening internal bleeding upon rupture, patients are treated with open surgical repair or less invasive endovascular aneurysm repair (EVAR). In EVAR procedures, 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 and supported by vascular surgeons due to shorter hospital stays, relatively less blood loss, a faster return to routine activities, and shorter procedure time as compared to open surgery, among others.
 
Hoping to leverage the lucrative prospects of EVAR technology, companies are launching innovative products in new markets. For instance, in May 2021, Endologix debuted the Alto Abdominal Stent Graft System in Canada and Argentina, which boosted the company’s global reach.
 
“Endovascular aneurysm repair has emerged as a safe, and effective method of treating abdominal aortic aneurysms as it lowers the risk of life-threatening tears and ruptures. Technological advancements in EVAR have not only allowed vascular surgeons to achieve therapeutic aims but also reduced procedural risks and patient discomfort,” the director of a U.S. endovascular device manufacturer noted.
 
The global endovascular devices market is technology driven and marked by product enhancements/innovations. In June 2022, Medtronic India launched a fourth-generation flow diverter–Pipeline Vantage with Shield Technology—for endovascular brain aneurysm treatment.
 
Both new and established market players adopt both organic and inorganic growth strategies such as acquisitions and new product launches to garner higher market share. In March 2022, Cook Medical received U.S. Food and Drug Administration Breakthrough Device Designation for the Zenith Thoraco+ Endovascular System. The Thoraco+ is built on the strength of the 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.
 
Companies vying for market share include Cordis, Medtronic plc, Boston Scientific Corp., Cook Medical, Abbott, Gore Medical, Cardiovascular Systems Inc., and Terumo, among others.