AAA repair market predicted to soar
Millennium Research Group (MRG; Waltham, Massachusetts) reported that its analysis of the peripheral vascular device market finds that the second largest segment of the market, abdominal aortic aneurysm (AAA) repair via stent grafts, was valued at $300 million in 2006 and will grow at a compound rate of about 13% annually over the next five years, resulting in a total market value of roughly $550 million by 2011.
It said that a program recently initiated by Medicare called Screening Abdominal Aortic Aneurysms Very Efficiently (SAAAVE) Act will have a significant impact on the growth of AAA procedures over the next five years.
Medicare on Jan. 1 began offering free, one-time ultrasound screening benefits to check for AAA in qualified seniors linked to their “Welcome to Medicare Physical Exam.” The initiative will cover men ages 65-75 who have a history of smoking, and men and women 65-75 who have a family history of AAA.
“This increase in screening will allow for one of America’s most preventable, but often neglected conditions, to be diagnosed and treated,” said Ryan Goren, MRG analyst.
The conclusions come from MRG's “US Markets for Peripheral Vascular Devices 2007” report.