The market will be driven by growth in adoption of new-generation stent grafts, as well as increased awareness of the benefits of endovascular techniques, and increase in endovascular technique training.

European physicians will increasingly take up endovascular aortic repair (EVAR) as an alternative to surgical repair for the treatment of abdominal aortic aneurysms (AAAs).

The advantages of EVAR will drive the aortic stent graft procedure volumes to approximately 35,000 in Europe over the next five years, the report said.

Millennium Research Group Analyst Fareed Hameed said the competition in the European market for EVAR devices will increase over the next five years as new stent grafts by emerging competitors become available.

"The recent introduction of new devices will allow for more types of patients with AAA to be treated via EVAR," Hameed said.