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(Medical-NewsWire.com, May 26, 2016 ) Outlook of the global TEVAR market
Market research analyst predicts the global thoracic endovascular aortic repair (TEVAR) market to grow steadily at a CAGR of around 9% during the forecast period. The advent of minimally invasive surgeries (MIS) for TEVAR is a critical factor that fosters growth in this market. MIS has revolutionized the field of surgery and is widely used for performing cardiac surgeries that involve the insertion of stent grafts, occluders, and cardiac rhythm management devices. Since MIS involves making smaller incisions for operations, it can reduce hospital stay and prevent excessive blood loss by the rapid healing of surgical site. With the increasing utilization of MIS for TEVAR, the demand for essential medical devices will increase. This increase in the demand for medical devices for the surgery will impel the prospects for market growth until 2020.
The growing popularity of robotic-assistance cardiac surgery is expected to boost market growth during the forecast period. Robotic surgical procedures help to reduce hospital stays and facilitate better cost management. Moreover, these procedures ensure surgical precision, improved outcomes, faster recovery periods, and reduced pain and discomfort. Growing awareness about the potential benefits of robotic surgeries among patients and surgeons will compel health care facilities to install and implement such equipment.
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Geographical segmentation of the TEVAR market
Americas
APAC
Europe
MEA
In this market study, analysts have estimated the Americas to be the largest market for TEVAR during the forecast period. In 2015, this region accounted for a market share of 48% and is envisaged to grow at a CAGR of about 10% during the predicted period. Factors such as the presence of strong reimbursement policies and a rise in the elderly population, especially in countries like Canada and the US, will result in the high demand for thoracic surgeries in this region.
Competitive landscape and key vendors
The global market for TEVAR is consolidated owing to the presence of a few large players like Cook Medical and Gore Medical. The leading vendors in this market offer very few products and face intense competition from rivals, which compels them to focus on product differentiation.
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Key vendors in the market are –
Cook Medical
Gore Medical
Medtronic
Other prominent vendors in the market include Bolton Medical, Gamida, Jotec, MAQUET, and MicroPort.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global TEVAR market?
What are the key market trends impacting the growth of the TEVAR market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global TEVAR market?
What are the trending factors influencing the market shares of the Americas, APAC, Europe, and MEA?
What are the key outcomes of the five forces analysis of the TEVAR market?
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