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Japanese and Canadian aortic stent graft market to grow at CAGRs of nearly 60% and 20%, respectively, through 2012, according to Millennium Research
Group
WALTHAM, Mass., June 19 /PRNewswire/ -- According to Millennium Research Group's Japanese Markets for Peripheral Vascular (PV) Devices 2008 report, the aortic stent graft market will increase at a compound annual growth rate (CAGR) of nearly 60% through 2012 due to market entry of both abdominal and thoracic stent grafts in 2006 and 2008, respectively. These new devices and a growing physician preference for minimally invasive procedures will also be key drivers. 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% through 2012.
In both Canada and Japan, continued introduction of innovative stent graft technologies will allow more patients with aortic disease to be treated using endovascular techniques rather than surgery. For instance, in June 2008, 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. 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," says Ryan Brown, Analyst at Millennium Research Group. "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."
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| SOURCE Millennium Research Group Copyright©2008 PR Newswire. All rights reserved |
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