Clot Management Devices Market Trends 2016-2024 | Key Players:Boston Scientific Corporation, Teleflex, Medtronic Plc, iVascular, Vascular Solutions, LeMaitre Vascular
Market Overview :
Growing awareness towards novel methods for clot management and increasing demand for effective thrombectomy devices is anticipated to boost clot management devices market size. Ischemic strokes accounting for over 87% of stroke cases, when the blood flow to the brain is blocked. High blood pressure, smoking, cholesterol, lack of physical activity, and changing lifestyle, are some of the foremost factors leading to stroke. Increasing prevalence of cardiovascular disorders such as peripheral arterial diseases, stroke, venous thromboembolism, and coronary heart diseases along with growing geriatric population, should fuel clot management devices market growth.
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Rapid technological advancements and launch of innovative next generation thrombectomy devices such as Penumbra’s AC68 Reperfusion Catheter will stimulate clot management devices market growth. Furthermore, speedy regulatory approvals for self-monitoring devices will propel clot management industry share.
However, lack of reimbursement policies and awareness for preventive medical check-ups to detect the blood clot are hampering growth. Products are categorized into Inferior Vena Cava Filters (IVCF), neurovascular embolectomy devices, Catheter-directed Thrombolysis (CDT) devices, percutaneous thrombectomy devices, and embolectomy balloon catheters/clot management catheter. The neurovascular embolectomy will register the fastest CAGR over the forecast period. The continuous R&D investments by public and private companies, growing demand for cost-effective devices, and developments in patient health outcomes should drive business segment growth. Percutaneous thrombectomy dominated clot management devices market share in 2015 and expected to hold majority industry share throughout the forecast period.
Based on end-use, clot management market is segmented as hospitals, ambulatory surgical center, and diagnostic centers. In 2015, hospitals were the largest segment attributing to 80% of overall clot management devices market share. In majority of the stroke cases, the patients are referred to the emergency services or critical care units as these units are thoroughly equipped with the infrastructure required for high-tech surgeries. The reimbursement criteria for patients treated in hospital’s emergency unit varies from that in other departments such as ambulatory and diagnostic centers.
Ambulatory surgical center segment is expected to witness highest CAGR over the forecast period. Growing demand for same day procedure and less fees compared to other segments should fuel segment growth.
U.S. held largest regional share owing to factors such as rising prevalence of cardiovascular and peripheral diseases, growing geriatric population and presence of well-developed reimbursement framework. Additionally, lifestyle changes associated with lack of physical activity and increasing intake of alcohol and smoking should reinforce industry growth.
Asia Pacific will be the fastest growing region with highest CAGR over the forecast period. China and India should contribute to industry growth due to increasing prevalence of diabetes, obesity, and several other cardiovascular diseases, growing disposable income in these countries, introduction of technologically advanced products and rapid improvement in healthcare infrastructure.
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Key Industry Players:
Key industry players include Boston Scientific Corporation, Teleflex, Medtronic Plc, iVascular, Vascular Solutions, LeMaitre Vascular, Edwards Lifesciences and Straub Medical. Technologically advanced products, investments in R&D, and compliance with the regulatory bodies are constantly driving the introduction of new clot management devices. The enormous costs of new product development, clinical trials, and marketing activities should serve as entry barriers for new industry entrants.
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