Atherectomy and Thrombectomy Devices Market
Number of pages: 100 | Report Format: PDF | Published date: February 08, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 3.46 billion |
|
Revenue Forecast in 2030 |
US$ 6.25 billion |
|
CAGR |
6.8% |
|
Base Year for Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Type, Application, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global atherectomy and thrombectomy devices market was valued at US$ 3.46 billion in 2021 and is expected to register a revenue CAGR of 6.8% to reach US$ 6.25 billion by 2030.
Atherectomy and Thrombectomy Devices Market Fundamentals
Atherectomy is used to eradicate atherosclerotic plaque from injured arteries. Atherectomy and thrombectomy were developed in the 20th century to address the shortcomings of balloon angioplasty. Different atherectomy devices are developed to cut, shave, sand, or vaporize these plaques, along with indications. Furthermore, thrombectomy is a procedure used to remove clots in acute myocardial infarction (MI), pulmonary embolism (PE), and acute cerebral ischemic stroke. In case of thrombectomy, an endovascular device is used in a mechanical interventional treatment to remove a blood clot or thrombus by using image guidance.
Devices for atherectomy and thrombectomy are crucial in the medical field since they can safely eliminate plaque from blocked arteries. These devices break down plaque accumulation by a combination of mechanical and chemical procedures, enabling the restoration of healthy blood flow. Moreover, these devices have already been shown to be a crucial part of minimally invasive treatments for cardiovascular disease, even if there is still more study to be done on them. These devices are also employed in other medical specialties, including the treatment of peripheral artery disease and stroke. It most frequently employs catheter-based procedures, such as direct aspiration, stent retrieval, or a mix of the two. Atherectomy and thrombectomy devices either crush the plaques and clots into tiny pieces, so that they can be embolized distally, or cut and remove atherosclerotic plaque and thrombotic clots from a vascular wall. After atherectomy and thrombectomy, the lumen is enlarged without straining the artery wall, which reduces elastic recoil.
[46463633]
Atherectomy and Thrombectomy Devices Market Dynamics
The increasing incidence of atherosclerosis and thrombosis is the key driver for the revenue growth of the global atherectomy and thrombectomy devices market. Moreover, the market is being driven by the rise in cases of chronic illnesses and an increase in the demand for less invasive technologies.
Atherosclerosis and thrombosis are caused due to several factors, such as the global increase in the geriatric population, lifestyle-related changes, and genetic abnormalities within the population base, offering revenue growth potential to the market. The adoption of cutting-edge technologies in the healthcare industry is also anticipated to provide the industry with a growth platform. Examples include the introduction of laser and ultraviolet radiation, recombinant tissue technology, and 3D image production. Additionally, advantages such as quick recovery, fewer incisions, less bleeding and scarring, a greater surgical success rate, and less trauma and post-operative issues are the major factors propelling the global atherectomy and thrombectomy devices market.
The usage of atherectomy and thrombectomy devices offers many advantages, such as the low risk of complications, no vessel wall injury, effective in rebuilding vessel patency, unmasking fundamental abscess, enabling the targeted treatment, and do not require lysis drug and vessel preparation. Moreover, they help in requiring only a brief hospital stay, do not need intensive care unit stay, and are simple to use and cost-effective. These factors solely contribute to the faster expansion of the global market with a larger revenue.
The market is estimated to grow at a significant revenue CAGR during the forecast period owing to increasing acceptance of minimally invasive procedures, rising prevalence of cardiovascular illnesses, and technological improvements in atherectomy and thrombectomy devices. The increasing efforts by government authorities of developed and developing countries to raise public knowledge of the advantages of using these devices are also anticipated to contribute to the market’s expansion.
However, there are still kinking issues with ineffective thrombectomy in angled and sclerotic aortic bifurcations, the potential risk of vessel wall dissection and perforation in highly calcified vessels, and high costs for catheter systems. The possibility of distal embolization within indications for thrombectomy or lysis therapy, the lack of a catheter device for below-the-knee thrombectomy, and a minimal lumen vessel of 4 mm are likely to restrict revenue growth of the market to some extent.
Atherectomy and Thrombectomy Devices Market Ecosystem
The global atherectomy and thrombectomy devices market is analyzed from three perspectives: type, application, and region.
Atherectomy and Thrombectomy Devices Market by Type
[64352342]
Based on the type, the global atherectomy and thrombectomy devices market is segmented into rheolytic, aspiration, rotational, and ultrasound device.
The rotational devices segment accounted for the largest revenue share in the market in 2021. Several key advantages of using rotation atherectomy and thrombectomy devices are responsible for the revenue growth of the segment. Rotational atherectomy is the safest option when the arteries are significantly calcified or obstructed. Rotational atherectomy and thrombectomy devices are advanced medical technologies that have revolutionized cardiovascular disease treatments. These devices use rotational forces to remove blockages in the arteries by using a spinning burr or blade, allowing blood to flow more freely. This has proven to be a safe and effective treatment for coronary artery disease, peripheral arterial disease, and other cardiovascular conditions.
The rotational atherectomy and thrombectomy devices can also be used to improve balloon angioplasty results and reduce restenosis rates. In comparison to balloon angioplasty, rotational atherectomy and thrombectomy of ostial lesions increases procedural and clinical success and lessen the need for side-branch intervention. Rotational devices and stenting together have better restenosis rates than stenting alone in these ostial lesions. It has also been suggested as a treatment for fibrocalcific plaque-containing undeletable abrasions. Rotational atherectomy and thrombectomy can improve lesion compliance and make it more receptive to later adjunct balloon angioplasty and/or stent administration and placement by partially rupturing the fibrocalcific plaque. More than 90% of reported rotational procedures for this kind of tumor were successful. Rotational type devices have a solid place in our interventional toolbox for treating difficult and severely calcified lesions, as it makes the treatment quick and easy without affecting restenosis or long-term clinical outcomes.
Atherectomy and Thrombectomy Devices Market by Application
Based on the application, the global atherectomy and thrombectomy devices market is segmented into hospitals, clinics, and others.
The hospital segment dominated the global market in 2021. Hospitals took the lead as they had more operating capital to invest in cutting-edge medical technologies. Hospitals have essential medical equipment to offer patients complete care as they are often multi-specialty centers. The increasing usage of atherectomy for the treatment of peripheral and cardiac vascular diseases, ongoing technological developments in the field of minimally invasive or image-guided atherectomy procedures, rising rates of chronic vascular diseases, and expanding access to healthcare reimbursements in many developed nations contribute to this segment’s significant revenue share. The rising geriatric population across the globe is expected to be one of the major drivers for thrombectomy and atherectomy procedures over the forecast period.
Atherectomy and Thrombectomy Devices Market by Region
Based on the regional outlook, the global atherectomy and thrombectomy market is segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America accounted for the highest revenue CAGR in the atherectomy and thrombectomy market in 2021 due to increasing cases of cardiovascular diseases, high disposable income, advanced diagnostic systems, frequent lifestyle-related changes, and an increase in the elderly population. Government campaigns to raise awareness and sophisticated infrastructure are expected to significantly contribute to the market’s expansion over the forecast period. Additionally, the existence of well-established healthcare facilities, favorable reimbursement policies, and rising patient awareness levels contribute to its substantial share.
The market in Asia Pacific is expected to show growth at the highest revenue CAGR during the forecast period, largely due to expanding disposable income, improving healthcare infrastructure, and raising patient awareness in the region. Moreover, increasing patient awareness of available CVD treatment options and rapidly developing healthcare infrastructure in developing nations, such as China and India, and growing government measures aimed at lowering rates of cardiovascular disease (CVD) are expected to fuel revenue growth in the Asia Pacific market.
Atherectomy and Thrombectomy Devices Market Competitive Landscape
The key companies operating in the global atherectomy and thrombectomy devices market are:
Atherectomy and Thrombectomy Devices Market Strategic Developments
Atherectomy and thrombectomy devices remove clots and plaques in acute myocardial infarction (MI), pulmonary embolism (PE), and acute cerebral ischemic stroke.
Increasing atherosclerosis and thrombosis, rising prevalence of chronic illness, growing demand for less invasive technologies, technological advancements, and increasing geriatric population are propelling revenue growth in the market.
Medtronic PLC, Boston Scientific, Abbott Laboratories, Koninklijke Philips N.V., and Johnson & Johnson (J&J) are among the top players in the global market.
The potential risk of vessel wall dissection and perforation in highly calcified vessels, high costs for catheter systems, the possibility of distal embolization within indications for thrombectomy or lysis therapy, the lack of a catheter device for below-the-knee thrombectomy, and a minimal lumen vessel of 4 mm are likely to restrain the global atherectomy and thrombectomy devices market in the next few years.
The global atherectomy and thrombectomy devices market is expected to register a revenue CAGR of 6.8% during the forecast period from 2022 to 2030.
*Insights on financial performance are subject to the availability of information in the public domain