Branched Stent Grafts Market

Market Overview

The global branched stent grafts market revenue was valued at USD 301.21 million in 2022. It is estimated to reach USD 587.52 million by 2031, growing at a CAGR of 7.7% over the forecast period (2023–2031). The advantages of minimally invasive procedures have resulted in a significant rise in their adoption, thereby propelling the market.

Branched stent grafts are state-of-the-art medical devices used in thoracoabdominal aortic pathologies and aortic aneurysms during endovascular procedures. These devices comprise multiple branches that reach the targeted arteries and a primary stent graft that is inserted into the aorta. Branched stent grafts allow blood flow redirection by offering a scaffold-like structure, effectively treating the diseased area and reducing the risk of complications. The purpose of the branched stent graft is to treat aortic lesions. It will be utilized in the extracorporeal balloon aortic dissection and EVAR of pectoral aneurism, extending its application from the aorta to each aorta.

Market Dynamics

Global Branched Stent Grafts Market Drivers:

Increased Adoption of Endovascular Aneurysm Repair Procedures

Endovascular repair of major aortic pathology, such as traumatic rupture, aneurysms, and dissections, has gained wide patient and surgeon acceptance due to lower mortality and morbidity. A rapid revolution in the exercise of vascular surgery has also substantially impacted the provision of intensive anesthesia care. Endovascular Aneurysm Repair (EVAR), since its introduction in the early 1990s, has been established as a feasible treatment for Abdominal aortic aneurysms (As). The practice of EVAR increased rapidly after its approval, with the number of AAA treated endovascularly rising to 74% in 2010 from 5% in 2000. The benefits of EVAR procedures, such as avoiding aortic cross-clamping, lower morbidity, and reduced blood loss compared to open surgery, have been well-recognized in randomized trials.

In 2014, only 15% of Medicare beneficiaries with AAA received open AAA repair treatment. Most vascular surgery centers perform endovascular AAA repairs between 60% and 80% of the time. According to the University of Massachusetts Memorial Medical Center, Worcester, MA, EVAR procedures are increasing, supporting market growth. Moreover, as per the New US, there was an extensive decline in open repair surgery of AAA for Medicare patients from 2003 to 2013, overlapping with a dramatic replacement of EVAR across all geographical areas and significantly fast adoption of fenestrated/branched EVAR. According to one of the clinical research published in the Annals of Vascular Surgery, out of 18,661 patients who underwent AAA repair, 14,720 were EVAR, while 3,941 were Open Aneurysm Repair (OAR). This is expected to propel market growth.

High Demand for Minimally Invasive Surgery

In minimally invasive surgery, surgeons use several techniques to cause less body damage than open surgery. Frequent innovations in minimally invasive procedures make them beneficial for individuals with several health conditions. Hence, these procedures are broadly accepted in the market. With the emergence of truly integrated solutions, minimally invasive procedures are substituting traditional surgical care in other medical domains.

Minimally invasive surgery causes less pain, has fewer complications, and shorter hospital stays. As a result, several factors, such as improved precision rates with somewhat less pain and a lower risk of infection, contribute to the extremely high demand rate for this surgery. Therefore, the benefits of minimally invasive procedures have led to a notable increase in their adoption, which drives the market.

Minimally invasive procedures are standard-of-care for treating descending aortic disease and heart disease. Moreover, the growing number of product innovations is further boosting market growth. For instance, in October 2019, Medtronic introduced Valiant Navion Thoracic Stent Graft System in Japan, which is a device intended for minimally invasive repair of all lesions, including repair of complicated type B aortic dissections and thoracic descending aortic aneurysms.

Global Branched Stent Grafts Market Restraint:

Increasing Number of Product Recalls

The recall of devices has increased in recent years, which is expected to hamper market growth during the forecast period. Class I recall, which poses the most serious risk to public health, has also increased in recent years. For instance, in February 2021, Medtronic recalled its Valiant Navion Thoracic Stent Graft System owing to the risk of type III endoleaks and stent fractures. This has been designated as a Class I recall by the FDA, and using these devices may result in major harm or even death in certain situations. Moreover, the FDA recalled the Endologix Ovation iX Abdominal Stent Graft System in June 2020 as a Class 1 recall.

In March 2017, Medtronic initiated a voluntary recall for a subset of Endurant/Endurant II Bifurcated Stent Graft Systems of specific models and serial numbers. Similarly, in October 2013, Vascutek initiated a voluntary recall of the Anaconda bifurcate body stent graft system due to identifying a possible issue with the release wire in the delivery system. Such product recalls may restrict market growth.

Global Branched Stent Grafts Market Opportunities:

Rising Incidence of Aortic Aneurysm

Market growth is expected to be driven by an increase in the frequency of aortic aneurysms, which is predicted to result from the rapidly aging global population. Aortic aneurysms accounted for 9,923 fatalities in the United States in 2018. Aortic aneurysms can develop in a variety of locations throughout the body, including the thoracic region and the abdominal aorta.

Aortic aneurysms are more prevalent in males than females and even more common in individuals with chronic obstructive pulmonary disease than without lung ailment. Population-based studies have indicated an incidence of thoracic aortic rupture of 3.5 per 100,000 persons, acute aortic dissection of 3.5 per 100,000 persons, and abdominal aortic rupture of 9 per 100,000. Moreover, the aging population undoubtedly plays a vital role in the significant increase in such conditions.

Moreover, smoking and high blood pressure, as well as age 60, significantly raise the risk of AAA. Epidemiological studies of AAA have shown that the yearly incidence of new AAA diagnoses is roughly 0.4% to 0.67% in the Western population, and it continues to be the key threat to health as it has an overall mortality of 80% in the event of a rupture. These factors are predicted to propel market growth.

Regional Analysis

North America Dominates the Global Market

Region-wise, the global branched stent grafts market is segmented into North America, Europe, Asia-Pacific, and LAMEA.

North America is the most significant global branched stent grafts market shareholder and is anticipated to exhibit a CAGR of 7.51% during the forecast period. This can be attributed to the area's important players, reimbursement coverage, and well-established healthcare infrastructure. The growing burden of vascular diseases is boosting the need for minimally invasive procedures, further fueling the growth of the branched stent graft market in the region. The number of procedures in the region is rising due to the steadily increasing target patient population and the rapidly aging population. Moreover, the regional market is competitive with the presence of major market players. Companies such as Abbott, Cook, and Cordis are adopting various strategies to maintain their market share. For instance, in October 2018, Medtronic received FDA approval for the Valiant Navion Thoracic Stent Graft System.

Europe is estimated to grow at a CAGR of 7.4% during the forecast period. The existence of developed economies, high disposable income, and the availability of well-established healthcare infrastructure and qualified professionals all contribute to the market's growth. The increasing elderly population, rising expenditure on healthcare, and growing awareness about minimally invasive procedures are among the factors positively influencing market growth. The growing burden of peripheral arterial disease is expected to boost the market growth. This is one of the key factors supporting the market growth.

Moreover, numerous stent manufacturers have been boosting product penetration in the region and have been able to leverage considerable opportunities. Europe's branched stent graft market is expected to grow in the coming years, owing to advancements in branched stent technology.

Asia-Pacific is the third largest region. The Asia Pacific branched stent graft market is anticipated to hold a market share of 19.88% in 2021, owing to rising spending on healthcare and growing medical tourism in the region. Developing countries like China, Japan, India, and Australia are included in the region. The expansion of the market has been driven by these nations' more convenient, cost-effective treatment options and higher-caliber healthcare infrastructure. Moreover, increasing awareness among people in developing countries is boosting the demand for branched stent graft market.

Furthermore, Australia has substantially developed minimal image-guided therapy and technology for managing aortic aneurysm disease. There has been continual attention and support for progress from all sectors in Australia, ranging through government regulatory bodies, clinicians, hospital administration, medical device companies, and scientific research organizations. Around 2,000 aneurysms are repaired annually by endovascular techniques in Australia and New Zealand. Moreover, the Australian and New Zealand Society for Vascular Surgery is now accountable for guiding vascular surgeons. These factors are expected to support the market growth.

Segmental Analysis

The global branched stent grafts market is segmented into type and application.

Based on type, the global branched stent grafts market is categorized into iliac stents and others. 

The iliac stent segment dominates the global market and is expected to exhibit a CAGR of 6.1% during the forecast period. One of the main drivers of the global market expansion for iliac stents is the rise in the prevalence of cardiovascular illnesses. Similarly, rapid technological improvements and widespread acceptance of stenting operations are anticipated to fuel segment expansion. On the other hand, the availability of alternative treatment options and the increasing number of product recalls may hinder the market growth. Moreover, the iliac artery's blood flow becomes blocked due to the thicker blood vessel wall narrowing. In 2018, around 58% of deaths due to aortic aneurysms occurred among men in the U.S. Such factors propel segment growth.

Furthermore, numerous market players are offering iliac stents in the market. Some of them are Alvimedica, Biotronik, Medtronic, and Endocor. These players constantly contribute to market growth through initiatives such as launching new products and mergers and acquisitions. For instance, in July 2019, Terumo Corporation introduced MISAGO RX Self-expanding Peripheral Stent for use in iliac arteries.

Based on application, the global branched stent grafts market is categorized into Endovascular Aneurysm Repair (EVAR), Fenestrated Endovascular Aortic Aneurysm Repair (FEVAR), chimney, and others. 

The EVAR segment owns the highest market share and is anticipated to exhibit a CAGR of 7.7% during the forecast period. Endovascular Aneurysm Repair (EVAR) held the largest market share of other segments during the forecast period. Patient demand for endovascular aortic repair procedures is rapidly growing across the globe. In the United States, endovascular stent grafts are currently the preferred treatment for up to 80% of aortic aneurysm cases. This is expected to promote market growth.

Endovascular aortic repair has become the foremost technique for treatment, accounting for over 77% of aortic repairs in 2019. The technique was developed in 1990. This procedure has undergone radical changes in efficacy over the past decade owing to improvements in graft technology and manufacturing techniques. Moreover, EVAR is a chosen treatment option for aortic aneurysms owing to its advantages over open surgical treatment. These advantages comprise shorter hospital stays, minimally invasive, quick recovery time, and enhanced patient outcomes. This is expected to boost the segment growth.

Recent Developments

• June 2023- Aortic arch stent graft system maker Endospan released details of its first patient experience with the Nexus Duo. Theodosios Bisdas from the Athens Medical Centre in Greece presented the results of the first ten Nexus Duo patients at the Leipzig Interventional Course in 2023 from June 6th to the 9th in Leipzig, Germany.