Plaque Modification Devices Market Size, Share, Trends Analysis with Forecast to 2027

Plaque Modification Devices Market: Introduction

According to the report, the global plaque modification devices market was valued at ~US$ 1.1 Bn in 2018 and is projected to expand at a high CAGR during the forecast period. Plaque modification devices are utilized for the removal of plaque and other debris from the arteries, which carry the blood to the heart and brain. Aggressive technologies such as rotational atherectomy, directional atherectomy, laser atherectomy, and orbital atherectomy are recommended for removal of plaque and other deposits. Thrombectomy, chronic total occlusion, and embolic protection are the other plaque removal procedures adopted globally. Innovative technology such as image-guided atherectomy is likely to offer significant opportunities in the global market.

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The global plaque modification devices market is driven by rise in prevalence of atherosclerosis, coronary & peripheral artery diseases, and hypertension; development of advanced technical devices, and initiatives taken by governments to increase awareness about plaque deposition and its associated risks. Favorable reimbursement policies and increase in trend of adoption of minimal invasive surgeries are expected to fuel the growth of the global plaque modification devices market. Rise in investments by companies to develop and launch novel devices is likely to boost the growth of the global plaque modification devices market.

North America dominated the global plaque modification devices market in 2018 and the trend is anticipated to continue during the forecast period. The region's dominance can be ascribed to the presence of key players, increase in incidence of atherosclerosis, rise in prevalence of coronary & peripheral artery diseases, increase in incidence of hypertension, and surge in awareness about heart diseases. However, higher cost of advanced plaque modification surgeries are likely to restrain the global plaque modification devices market during the forecast period.

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Rise in Prevalence of Atherosclerosis to Propel Global Market

Atherosclerosis is characterized by deposition of plaque inside the arteries, which in turn reduces the blood flow to the heart or other parts of the body. Plaque is caused by excess deposition of fat, cholesterol, calcium, and other substances in the arteries. A journal published on Omics International stated that atherosclerosis accounts for 32% deaths and has a prevalence of 13.8% among adults. According to research published on NCBI, atherosclerosis accounted for 50% deaths in the West in 2019. In the U.S., heart disease accounts for 610,000 deaths every year and coronary heart disease caused by plaque deposition accounts for around 370,000 deaths in the West each year. Moreover, 75% of the acute myocardial infarctions is caused by plaque rupture, which is highly prevalent in men aged over 45.

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Increase in Prevalence of Hypertension to Drive Global Market

According to the WHO research, hypertension affects around 26% (nearly 1.13 billion people) of the world's population. The number is expected to increase to 29% by 2025. Growing hypertension is a public burden and is increasing across developing countries. It is a major risk factor for atherosclerosis, heart stroke, and other diseases. According to the American Heart Association (AHA), 103 million adults in the U.S. suffer from higher blood pressure or hypertension. The majority of the population in the U.S. suffering from hypertension was aged over 65 in 2018. According to NCBI research published in 2019, around 266.9 million people were suffering from hypertension in China in 2018. According to cardiovascular diseases statistics, in 2018, prevalence of hypertension was 31.9% in Hungary, 29.6% in Bulgaria, 29.4% in Latvia, 28.5% in Germany, 16.2% in Sweden, 16.4% in the U.K., and below 17% in Benelux countries. This drives the need of various innovative technologies to tackle the plaque deposition condition caused by hypertension.

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Rapid Adoption of Minimal Invasive Surgeries to Drive Global Market

Minimal invasive surgeries recommended for the removal of plaque or the treatment of atherosclerosis include atherectomy, thrombectomy, and chronic total occlusion. These are advanced procedures utilized to remove clots and blockages from the arteries. Rise in awareness and expertise boosts adoption of minimal invasive surgeries across the globe. The minimal invasive surgery is safer than open surgery and hence, higher adoption rate of advanced instruments and procedures is likely to drive the global market.

Coronary Artery Diseases to Drive Global Market

In terms of application, the coronary artery diseases segment is likely to grow at a faster pace during the forecast period. Coronary artery disease is the most common heart condition caused by plaque deposition. Rise in prevalence of coronary artery disease across the globe is projected to propel the adoption of plaque modification devices. Rise in prevalence of coronary artery disease enables companies to launch their products and strengthen their geographic presence. This factor is likely to boost the growth of the global plaque modification devices market. According to a research, coronary artery disease accounts for deaths of 3.8 million men and 3.4 million women across the globe each year. Coronary artery disease accounts for 1.95 million deaths in Europe every year. Rise in prevalence of hypertension, smoking, and other lifestyle diseases leads to increase in the deposition of plaque in the arteries, which in turn drives demand for plaque modification devices.

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Plaque Modification Devices Market: Prominent Regions

In terms of region, the global plaque modification devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global plaque modification devices market in 2018, followed by Europe. North America accounted for major share of the global plaque modification devices market in 2018. This can be attributed to the large patient pool suffering from atherosclerosis, peripheral, and coronary artery disease, rise in trend of minimal invasive surgery, prevailing hypertension, and adoption of innovative plaque modification devices, favorable reimbursement policies, and presence of key players in the region. Technological advancements leading to development of innovative atherectomy procedures is another major factor expected to augment the market in North America. The plaque modification devices market in Asia Pacific is likely to expand at a higher CAGR from 2019 to 2027. This can be attributed to rise in prevalence of cardiovascular diseases, increase in healthcare expenditure, and large patient population including geriatric population in countries such as Japan and China. Initiatives taken by the governments of countries in the region and presence of key players offering innovative plaque modification devices are projected to boost the growth of the plaque modification devices market in Asia Pacific.

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Expansion of Product Portfolio through Launch of Innovative Devices and Partnerships by Key Players to Drive Global Market

The global plaque modification devices market is consolidated in terms of number of players. The market is dominated by small number of key players with strong distribution network. Leading players operating in the global plaque modification devices market include Boston Scientific Corporation, B. Braun Melsungen, Becton, Dickinson and Company, Cardinal Health, Medtronic, Cardiovascular Systems, Inc., Microvention, Inc. (Terumo), Penumbra, Inc., Biotronik, Stryker, and Codman Neuro (Johnson & Johnson). These players have adopted strategies such as product portfolio expansion, investment in development of accurate innovative plaque modification devices, adoption of new technologies, and mergers & acquisitions to establish a strong distribution network. For instance, there are only two FDA-approved plaque modification systems available in the market: The Silver Hawk and TurboHawk. These are the only directional atherectomy products by Boston Scientific in use presently. Companies such as Avinger launched groundbreaking device, Pantheris SV, in 2019, which is backed by strong clinical data that confirms the capability of the device in atherectomy procedures. Avinger has novel devices in the portfolio such as Ocellaris CAD, an image-guided coronary CTO crossing device expected to be approved and launched in 2021.

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