Latin American Aortic Stent Graft Market to Reach Over $150 Million by 2015, According to Millennium Research Group

TORONTO, Sept. 23 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, Latin American physicians will increasingly adopt abdominal and thoracic endovascular aortic repair in place of surgical repair through 2015 as awareness of the benefits of endovascular techniques grows and physician training improves.

Thoracic endovascular aortic repair tends to be a slightly more attractive option for physicians and patients because the alternative open surgical procedure is associated with significant mortality, complications, and longer hospital stays. Conversely, newer thoracic aortic stent grafts incorporate features that add to their versatility in treating a variety of thoracic aortic conditions, including aneurysms and dissections. These features include improved deliverability and reliability of stent graft placement, which make it easier for physicians to treat a diverse patient population.  Abdominal endovascular aortic repair, in contrast, will face more competition from surgical options because the latter is not quite as risky in the abdominal aorta compared to in the thoracic aortic. As a result, surgical repair of the abdominal aorta will continue to be preferred in some centers due to the high cost of aortic stent grafts. Although budget constraints among Latin American health care facilities will remain a limiting factor, the aortic stent graft market is set to expand to more than $150 million by 2015.

"Mexico, in particular, has traditionally experienced lower stent graft penetration rates compared to other Latin American countries due to its slow device approval process," says Fareed Hameed, Analyst at MRG.  "Because device approval has lagged behind some other regions, physician training on endovascular repair procedures has also been lower; however, even Mexico will see growth in aortic stent graft procedures of approximately 15% per year through 2015 as manufacturers focus on training individuals in this region."

MRG's Latin American Markets for Peripheral Vascular Devices 2011 report provides critical insight into trends that will fuel market growth for peripheral vascular stents, percutaneous transluminal angioplasty balloon catheters, embolic protection devices, inferior vena cava filters, aortic stent grafts, synthetic surgical grafts, and peripheral vascular accessory devices.  

About Millennium Research Group

Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer behavior tracking, facility-level procedure forecasting, and customized solutions.

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SOURCE Millennium Research Group