Recovery in sight for Australia’s aortic stent grafts market
Abdominal aortic stent grafts account for over 95% of the market in 2020.
The aortic stent grafts market in Australia is expected to rebound and grow at a CAGR of 15% over the next five years, after declining in 2020 as COVID-19 patients took precedence in treatment over others except in cases of emergency, according to a report from GlobalData.
“Abdominal aortic stent grafts account for more than 95% of the total Australian aortic stent grafts market in 2020 and this is due to increasing prevalence of abdominal aortic aneurysms and rising demand for endovascular repair procedures.”, said GlobalData’s medical devices analyst Shweta Yadav.
The demand for aortic stent graft procedures performed using the endovascular approach is rising compared to open approach, as they allow aneurysms to be treated through minimally invasive methods which reduces hospital stay, patient recovery time and post surgery trauma, the report noted.
“Additionally, the availability of the COVID-19 vaccine is expected to further increase the number of procedures performed leading to higher number of aortic stent graft procedures in Australia,” Yadav added.