The global aortic stent graft market will increase at a compound annual growth rate of nearly 60 percent through 2012 due to market entry of both abdominal and thoracic stent grafts in 2006 and 2008, respectively, according to a report from Millennium Research Group (MRG), a medical technology market research firm.
While growth will not be as high as in Japan, the more established Canadian stent graft market will also expand significantly, at a CAGR of close to 20 percent through 2012, according to MRG’s “Japanese Markets for Peripheral Vascular Devices 2008” report.
In June, W.L. Gore’s TAG was the first thoracic stent graft to receive regulatory approval in Japan. The first abdominal stent grafts were approved in 2006. Procedures will experience robust growth over the next five years as new devices are introduced into the Japanese and Canadian markets, extending the treatable patient population, according to MRG.
The report said that successful aortic repair using stent grafts has encouraged Japanese and Canadian physicians to adopt the procedures, expanding procedures and revenues in both countries.
“Device innovation is improving the success rates of aortic stent grafts while also expanding the treatable patient population,” said Ryan Brown, analyst at MRG. “As these devices become increasingly available in relatively underpenetrated markets, growing patient awareness of and demand for minimally invasive aortic procedures will drive the adoption of aortic stent grafts.”