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Coronary Atherectomy Devices Market Report 2024-2033 - Size, Growth & Key Trends
Coronary Atherectomy Devices Market
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According to The Business Research Company's, The coronary atherectomy devices market size has grown rapidly in recent years. It will grow from $0.2 billion in 2023 to $0.22 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to rising prevalence of coronary artery disease, growing demand for minimally invasive procedures, demand for coronary atherectomy devices, rising disposable incomes.
The coronary atherectomy devices market size is expected to see strong growth in the next few years. It will grow to $0.31 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to aging population, hybrid procedures, industry investment, patient and physician awareness. Major trends in the forecast period include advancements in coronary atherectomy devices, miniaturization, enhanced imaging, personalized treatment, advancements in device design, robotics and artificial intelligence.
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Market Drivers and Trends:
The increasing prevalence of cardiovascular diseases (CVDs) has resulted in an increased demand for atherectomy devices for the treatment of CVDs. The increased prevalence of cardiovascular diseases can be attributed to the use of smoking, physical inactivity, and an unhealthy diet. For instance, in September 2023, according to the Center for Disease Control and Prevention, a US-based government agency, the number of deaths due to cardiovascular diseases reached 695,547 in 2021. Additionally, in August 2022, according to the American College of Cardiology, a US-based non-profit medical association, the risk factors for ischemic heart disease were predicted to increase by 30.7% to 29 million by 2025. Therefore, increasing the prevalence of cardiovascular diseases is expected to drive the growth of the global coronary atherectomy devices market.
Large coronary atherectomy equipment market manufacturers are strategically partnering and collaborating with start-ups and mid-sized companies to broaden products and services. For instance, in 2021, Cardiovascular Systems, Inc. announced the acquisition of peripheral support catheters from Wavepoint Medical LLC for an undisclosed amount. This acquisition helps Cardiovascular Systems, Inc., based in St. Paul, Minn., is a medical device company that operates on developing and commercializing creative solutions for treating vascular and coronary disease.
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Major Key Players of the Market:
Boston Scientific Corporation, Koninklijke Philips N.V., Cardiovascular Systems Inc., The Spectranetics Corporation, Medtronic Inc., Avinger Inc., Biotronik SE & Co KG, Arterial Remodeling Technologies, Atrium Medical Corporation, B. Braun Melsungen AG, Balton Sp. z o.o., Biosensors International Group Ltd., Straub Medical AG, C.R. Bard Inc., RA Medical Systems Inc., Shockwave Medical Inc., Terumo Corporation, Abbott Laboratories Inc., Asahi Intecc Co. Ltd., Baylis Medical Company Inc., Cook Medical LLC, Cordis Corporation, Edwards Lifesciences Corporation, Endologix Inc., Infraredx Inc., Intact Vascular Inc., Lutonix Inc., Mercator MedSystems Inc., Miracor Medical Systems GmbH, OrbusNeich Medical Company Limited, QT Vascular Ltd., TriReme Medical LLC, Vascular Solutions Inc., Volcano Corporation
Coronary Atherectomy Devices Market 2024 Key Insights:
• The coronary atherectomy devices market size is expected to see strong growth in the next few years. It will grow to $0.31 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%.
• Surge In Cardiovascular Diseases Fuels Demand For Atherectomy Devices
• Strategic Collaborations Drive Expansion In The Coronary Atherectomy Equipment Market
• North America was the largest region in the coronary atherectomy devices market in 2023
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