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Thrombectomy Devices Global Market Navigating Trends, Share Report, Growth Drivers, Market Size And Future Outlook 2024-2033
Thrombectomy Devices Global Market
According to The Business Research Company's, The thrombectomy devices market size has grown strongly in recent years. It will grow from $1.46 billion in 2023 to $1.58 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to increased incidence of stroke, aging population and vascular disorders, advancements in minimally invasive procedures, awareness and early intervention, improved clinical outcomes.
The thrombectomy devices market size is expected to see strong growth in the next few years. It will grow to $2.1 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to expanding aging population, advances in thrombectomy technology, global initiatives for stroke awareness, integration with telemedicine, collaborations for research and development. Major trends in the forecast period include introduction of next-generation stent retrievers, focus on neurointerventional thrombectomy, integration of imaging guidance technologies, enhancements in thrombus detection and imaging, shift toward outpatient thrombectomy procedures.
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Market Drivers and Trends:
An increase in the incidence of cardiovascular diseases is expected to propel the growth of the thrombectomy devices market going forward. Cardiovascular diseases (CVDs) are a group of disorders that affect the heart and blood vessels, including coronary artery disease, heart failure, and arrhythmias. Thrombectomy is a procedure used to remove blood clots that have formed within blood vessels, including those in cardiovascular diseases such as acute ischemic stroke and acute myocardial infarction (heart attack); as a result, an increase in the incidence of cardiovascular diseases increases the demand for thrombectomy devices. For instance, in January 2023, according to a report shared by the American Heart Association, a US-based non-profit organization that supports cardiovascular medical research, 928,741 people died in the United States in 2020 as a result of cardiovascular disease (CVD), which was reported as the primary cause of death. Worldwide mortality from CVD was estimated at 19.05 million in 2020. Therefore, an increase in the incidence of cardiovascular disease devices is driving the growth of the thrombectomy devices market.
Technological advancements are a key trend gaining popularity in the thrombectomy devices market. Companies operating in the thrombectomy devices market are adopting new technologies to sustain their position in the market. For instance, in February 2022, CERENOVUS, a US-based company engaged in neurovascular care and part of Johnson & Johnson Medical Devices Companies, launched EMBOGUARD, a next-generation balloon guide catheter. This is used in endovascular procedures, including those for patients with acute ischemic stroke. EMBOGUARD is the latest addition to join CERENOVUS Stroke Solutions, a suite of technologies designed with compatibility in mind to assist physicians in performing mechanical thrombectomy procedures. The EMBOGUARDTM Balloon Guide Catheter is intended to improve clot clearance by regulating blood flow locally during MT operations. Balloon guide catheters improve first-pass recanalization, shorten the surgery, and lower the likelihood of clot fragments breaking off and generating distant emboli.
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Major Key Players of the Market:
Stryker Corporation; Medtronic plc; Boston Scientific Corporation; Johnson and Johnson; Terumo Corporation; Penumbra Inc.; Edwards Lifesciences Corporation; Argon Medical Devices Inc.; Teleflex Incorporated; AngioDynamics; Koninklijke Philips NV; Spectranetics Corporation; Abbott Laboratories; Inari Medical Inc.; C. R. Bard Inc.; BTG International Ltd.; Walk Vascular LLC; Phenox GmbH; Acandis GmbH & Co. KG; Straub Medical AG; MicroVention Inc.; Vascular Solutions Inc.; Rapid Medical; Endo International plc; Acrostak AG; Neuravi Limited; Control Medical Technology LLC; Kaneka Corporation; Arteria Therapeutics Inc.; Baxter International
Thrombectomy Devices Market 2024 Key Insights:
• The thrombectomy devices market will grow to $2.1 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
• Surge In Cardiovascular Diseases Drives The Growth Of The Thrombectomy Devices Market
• The Rise Of Technological Innovations In Thrombectomy Devices Market
• North America was the largest region in the thrombectomy devices market in 2023
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