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Thrombectomy Devices Market is Projected to Increment at a Healthy CAGR of 6.1% During the Forecast Period of 2017 to 2022

05-22-2018 06:23 PM CET | Health & Medicine

Press release from: Transparency Market Research

Thrombectomy Devices Market is Projected to Increment at

The presence of a copious number of global and local players features a fragmented business landscape of the global thrombectomy devices market, as per a new report by Transparency Market Research (TMR). However, the market features the prominence of a few large players such as Stryker Corporation who are pouring in money on research and development to introduce novel products that will help them steal a march over their competitors. For example, in July 2016, Penumbra launched ACE 68 Repercussion Catheter to be commercially available in the U.S. thrombectomy devices market.

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Strategic alliances and mergers and acquisitions to expand geographical footprint and efforts for strengthening sales force are some other key growth strategies that players in this market have resorted to.

Some other key players in the global thrombectomy devices market are Argon Medical Devices Inc., Johnson & Johnson, Spectranetics Corporation, Boston Scientific Corporation, Medtronic plc, Terumo Corporation, BTG International Ltd., and Teleflex among others.

As per the TMR report, the global thrombectomy devices market will expand at a healthy 6.1% CAGR vis-à-vis revenue over the forecast period between 2017 and 2022. Rising at this rate, the opportunities in the market will attract a revenue of US$1,974.5 mn by 2022-end. The market was valued at US$1,470.6 mn in 2017. Among the various products, aspiration thrombectomy devices account for the maximum share in the overall market. Geography-wise, driven by the U.S., North America is currently the most attractive market for thrombectomy devices.

Rising Pool of Patients Likely to Require Secondary Treatment Augments Demand

Majorly fuelling the global thrombectomy devices market is the increasing incidence of cerebrovascular diseases. Cerebrovascular diseases or stroke has been identified as the world’s second most deadly disease, as per the World Health Organization. The rising use of thrombectomy devices for cardiovascular diseases especially among the growing geriatric population who are susceptible to cardiac surgeries and increasing preference for minimally invasive surgeries are some other prominent factors behind the growth of thrombectomy devices market.

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Apart from this, factors such as technological advancements, rising healthcare expenditure in emerging economies, rising preference for minimally invasive procedures for thrombectomy, favorable medical reimbursement policies are acting in favor of the growth of this market.

Acquisition of specialty thrombectomy clinics by tier-1 hospitals is another favorable factor that has come to the fore in recent years. Consequently, nurses and technical staff at tier-1 hospitals receive specialty training for patient care from trained personnel at specialty thrombectomy clinics.

In addition, rising incidence of cerebrovascular and cardiovascular diseases and advent of laser and ultra-violet radiation based novel thrombectomy devices is likely to take thrombectomy devices market to new heights, adds the report.

Lastly, increasing setup of manufacturing units in emerging economies and strengthening of distribution networks via collaborations are benefitting the thrombectomy devices market.

Lack of Skilled Personnel Challenges Growth

Despite several favorable factors, the growth of the thrombectomy devices market is challenged as well. Stringent regulations and long hauls for approval of thrombectomy devices, lack of experienced surgeons, increasing number of product recalls, low awareness regarding new treatments for peripheral vascular diseases, and ill-effects of thrombectomy devices are proving to be a roadblock to the market’s growth.

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About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

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