Branched Stent Grafts Market Size, Share & Trends Analysis Report By Type (Iliac Stent), By Application (EVAR), By Region (North America, APAC)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2024-2033

The global branched stent grafts market size was exhibited at USD 281.90 million in 2023 and is projected to hit around USD 608.60 million by 2033, growing at a CAGR of 8.0% during the forecast period of 2024 to 2033.

Key Takeaways:

• Iliac stents accounted for a considerable share of over 38% in 2023 and are expected to grow at a CAGR of 5.9% during the forecast period.
• The other segment will account for the largest market share of more than 42% in 2023.
• In 2023, North America held the largest revenue share of more than 51%.

Branched Stent Grafts Market by Overview 

The Branched Stent Grafts market has witnessed substantial growth in recent years, driven by advancements in medical technology and an increasing prevalence of complex aortic diseases. This overview aims to provide a comprehensive understanding of the Branched Stent Grafts market, exploring key trends, drivers, challenges, and opportunities shaping the industry.

Branched Stent Grafts Market Growth

The Branched Stent Grafts market is experiencing robust growth, propelled by several key factors. A significant driver is the continuous wave of technological advancements in medical devices, leading to the development of highly sophisticated branched stent grafts. These innovations focus on enhancing precision, flexibility, and durability, thereby contributing to improved patient outcomes. Additionally, the rising incidence of aortic aneurysms, particularly among aging populations, plays a pivotal role in propelling market expansion. As patients and healthcare providers increasingly recognize the benefits of minimally invasive procedures, there is a growing preference for endovascular techniques, including the use of branched stent grafts. This shift is driving market growth, offering quicker recovery and reduced morbidity compared to traditional open surgeries. The aging global population and the prevalence of chronic diseases further amplify the demand for innovative medical interventions, positioning branched stent grafts as a critical solution to address complex anatomical challenges associated with aortic diseases. Overall, these factors collectively contribute to the flourishing growth trajectory of the Branched Stent Grafts market.

Branched Stent Grafts Market Report Scope

Market Dynamics

• Technological Advancements Driving Innovation:

The Branched Stent Grafts market is propelled by continuous technological advancements, fostering innovation in medical devices. These advancements focus on refining the design and functionality of branched stent grafts, enhancing their precision and adaptability in addressing complex aortic anatomies. As manufacturers invest in research and development, the market witnesses the introduction of more advanced devices that offer improved outcomes for patients. The integration of cutting-edge technologies not only expands the capabilities of branched stent grafts but also underscores their relevance in modern healthcare, positioning them as a forefront solution for complex aortic diseases.

• Shift Towards Minimally Invasive Endovascular Procedures:

A key dynamic shaping the Branched Stent Grafts market is the increasing preference for minimally invasive endovascular procedures. Healthcare providers and patients alike are recognizing the benefits of these procedures, which include reduced recovery times and lower morbidity compared to traditional open surgeries. Branched stent grafts, as a crucial component of endovascular interventions, align with this trend by providing a less invasive alternative for treating complex aortic diseases. The growing acceptance of endovascular techniques contributes significantly to the market's expansion, with branched stent grafts at the forefront of enabling safer and more efficient procedures for both healthcare professionals and patients.

Market Restraint

• High Initial Costs and Affordability Concerns:

A notable restraint in the Branched Stent Grafts market is the high initial costs associated with these advanced medical devices. The sophisticated technology and materials used in the manufacturing process contribute to elevated pricing, making branched stent grafts less accessible, particularly in certain regions with limited financial resources. Affordability concerns pose a barrier to widespread adoption, limiting the market's potential impact on a global scale. Addressing this restraint requires strategic efforts such as increased awareness about the long-term cost-effectiveness of these devices and collaborative initiatives to make them more financially viable for a broader patient population.

• Procedural Complexity and Training Requirements:

The procedural complexity involved in deploying branched stent grafts, especially in challenging anatomies, presents a significant restraint for healthcare professionals. These devices require specialized training and expertise for precise placement and optimal patient outcomes. The learning curve associated with mastering the deployment techniques may limit the broader adoption of branched stent grafts. Overcoming this restraint necessitates ongoing education and training programs, ensuring that healthcare providers are proficient in utilizing these devices effectively. Collaborations between manufacturers and medical institutions can play a crucial role in addressing this challenge, ultimately contributing to the wider acceptance of branched stent grafts in clinical practice.

Market Opportunity

• Emerging Markets and Untapped Regions:

A compelling opportunity in the Branched Stent Grafts market lies in expanding into emerging markets and untapped regions. As healthcare infrastructure develops in these areas, there is a growing demand for innovative medical solutions. Strategic market penetration, along with partnerships with local healthcare providers, can pave the way for increased adoption of branched stent grafts. By understanding and addressing region-specific needs, manufacturers can capitalize on the untapped potential, fostering market growth and improving access to advanced medical interventions.

• Research and Development for Advanced Solutions:

Continued investment in research and development represents a significant opportunity in the Branched Stent Grafts market. By focusing on innovation, manufacturers can introduce more advanced and cost-effective solutions. Collaborations between industry players and research institutions can drive the development of novel technologies, further enhancing the efficacy of branched stent grafts. This commitment to R&D not only ensures the evolution of cutting-edge devices but also positions companies favorably in a competitive market landscape, meeting the evolving needs of healthcare professionals and patients.

Market Challenges

• High Initial Costs:

One of the significant challenges facing the branched stent graft market is the high initial costs associated with these advanced medical devices. The intricate design, specialized materials, and advanced technology contribute to elevated manufacturing expenses, resulting in a substantial price tag. This poses a barrier to widespread adoption, particularly in regions with constrained healthcare budgets. Overcoming this challenge requires strategic initiatives such as targeted pricing, collaborations to reduce production costs, and increased awareness about the long-term cost-effectiveness of branched stent grafts.

• Procedural Complexity and Training Requirements:

The procedural complexity involved in deploying branched stent grafts presents a notable challenge for healthcare professionals. Achieving optimal outcomes requires a high level of skill and expertise, and the learning curve associated with mastering deployment techniques can be steep. This challenge may limit the broader adoption of branched stent grafts, especially in settings where specialized training is not readily available. Addressing this issue necessitates ongoing education and training programs, as well as collaborative efforts between manufacturers and healthcare institutions to ensure healthcare providers are proficient in using these devices effectively.

Segments Insights:

Type Insights

Iliac stents accounted for a considerable share of over 38% in 2023 and are expected to grow at a CAGR of 5.9% during the forecast period. The increase in the incidence of cardiovascular diseases (CVDs) around the world is the key factor driving segment growth. Rapid technological advancements and widespread acceptance of stenting procedures are also expected to boost segment growth over the forecast period.

The other segment is expected to hold the largest market share by 2033, growing at the fastest CAGR from 2024 to 2033. The segment comprises renal, celiac, gastric, femoral, fenestrated/branched, and supermesenteric stent graft systems. The increasing geriatric population across the globe, which has a high incidence of the stomach or digestive diseases, is the key factor supporting segment growth.

Application Insights

Branched stent-grafts find their application in EVAR procedures. EVAR is further sub-segmented into chimney, fenestrated endovascular aortic aneurysm repair (FEVAR), and others. The other segment is account for the largest market share of more than 42% in 2023. Recent developments in branched stent grafts have created a way to treat multifaceted aortic aneurysms, including visceral arteries.

Moreover, new-generation iliac bifurcated devices exhibit favorable intraoperative performance and long-term outcomes, thus supporting market growth. The chimney EVAR segment is expected to grow at the fastest CAGR of more than 8% during the forecast period. Patient demand for endovascular aortic repair procedures is rapidly growing across the globe. For treatment of about 80% of aortic aneurysm cases, endovascular stent grafts are the preferred choice in the U.S. This is expected to promote market growth.

Regional Insights

In 2023, North America held the largest revenue share of more than 51%. This can be attributed to the presence of well-developed healthcare infrastructure, key players, and reimbursement coverage in the region. In addition, the regional market is highly competitive due to the strong presence of major market players. On the other hand, Asia Pacific is anticipated to be the fastest-growing regional market, with a CAGR of more than 9% over the forecast period.

This growth can be credited to rising spending on healthcare and the rapidly expanding medical tourism sector in the Asia-Pacific region. The APAC regional market consists of developing economies such as China, Japan, India, and Australia. The presence of better-quality healthcare infrastructure, convenience, and availability of affordable treatment options in these countries are also expected to propel the growth of the regional market.

Some of the prominent players in the Branched stent grafts market include:

• Medtronic
• Biotronik
• Alvimedica
• Endocor GmbH
• Eucatech AG
• Merit Medical Systems
• Abbott
• Cook Medical
• Cardinal Health (Cordis)
• Boston Scientific Corp.
• Terumo Corp.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2023 to 2033. For this study, Nova one advisor, Inc. has segmented the global branched stent grafts market.

Type

• Iliac Stent
• Others

Application

• EVAR
• FEVAR
• Chimney
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)