Atherectomy and Thrombectomy Devices Market Growth Outlook Highlighted by Persistence Market Research

The global atherectomy and thrombectomy devices market is anticipated to experience a robust growth rate, with a projected compound annual growth rate (CAGR) of 5.7% during the forecast period from 2022 to 2032. This growth is expected to push the market size from USD 3.5 billion in 2022 to USD 6 billion by 2032. The market has seen impressive growth in recent years, driven by an increasing demand for minimally invasive procedures, a rising incidence of cardiovascular diseases, and advancements in medical technology.

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Overview of the Market

The atherectomy and thrombectomy devices market is driven by the increasing prevalence of cardiovascular diseases (CVDs) such as coronary artery disease (CAD), peripheral artery disease (PAD), and stroke. These conditions often lead to blockages in arteries, which necessitate medical interventions like atherectomy and thrombectomy procedures. Atherectomy involves removing plaque or atherosclerotic tissue from blood vessels, while thrombectomy refers to the removal of blood clots. The combination of both techniques plays a crucial role in improving patient outcomes, particularly in high-risk cardiovascular patients.

Key growth drivers include favorable reimbursement policies, technological innovations, and increasing awareness about advanced cardiovascular treatments. The development of wearable devices for atherectomy and thrombectomy, along with improved product features, is expected to drive the market forward. According to Persistence Market Research, the market has been expanding steadily, with a previous CAGR of 6.3% from 2015 to 2021, reflecting the growing acceptance of these procedures worldwide.

In terms of segmentation, rotational atherectomy is expected to dominate the market by product type, while hospitals are likely to remain the leading end-user segment. North America is projected to hold the largest market share, followed by regions in Europe and Asia Pacific. Factors such as a high number of cardiovascular patients, advanced healthcare infrastructure, and government support for medical procedures contribute to this trend.

Key Highlights from the Report

• The atherectomy and thrombectomy devices market is expected to reach USD 6 billion by 2032.
• The market is growing at a CAGR of 5.7% during the forecast period.
• North America is predicted to dominate the market, with substantial market share.
• The rotational atherectomy segment leads the market by product type.
• Hospitals remain the largest end-user segment due to their adoption of advanced medical technologies.
• Technological advancements and government initiatives are key drivers of market growth.

Market Segmentation

The atherectomy and thrombectomy devices market is segmented based on product type, application, and end-user. These segments provide a clear view of the market dynamics, allowing stakeholders to identify opportunities and challenges in different areas of the market.

Segmentation by Product Type

By product type, the atherectomy and thrombectomy devices market is primarily segmented into rotational, directional, and laser atherectomy devices. Of these, the rotational atherectomy devices segment is expected to show the highest growth potential, with a CAGR of 5.7% during the forecast period. Rotational atherectomy devices are widely used for patients with heavily calcified lesions, offering better control and precision during procedures.

Directional and laser atherectomy devices are also significant, especially in the treatment of peripheral artery disease. These devices provide effective plaque removal through mechanical abrasion or laser energy, depending on the type. The technological advancements in laser-based devices, including improved laser fibers and enhanced visualization techniques, are expected to drive growth in this segment.

Segmentation by End-User

The end-user segment is primarily divided into hospitals, ambulatory surgical centers (ASCs), and others. Hospitals represent the leading end-user group, with a CAGR of 5.8%. This is due to hospitals' higher capital expenditures on medical equipment and their ability to offer comprehensive treatment options for cardiovascular diseases. Additionally, hospitals often have multi-specialty care teams, making them well-equipped for performing atherectomy and thrombectomy procedures.

Ambulatory surgical centers (ASCs) are also gaining traction, primarily because they offer cost-effective solutions and quicker recovery times for patients. The increasing adoption of minimally invasive techniques has contributed to the growth of ASCs in this market.

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Regional Insights
North America

North America is poised to lead the global atherectomy and thrombectomy devices market, with the U.S. being the largest contributor. Factors such as the increasing prevalence of cardiovascular diseases, a well-established healthcare system, and government reimbursement policies are all driving the growth of the market in this region. The U.S. is expected to have a CAGR of 5.5% during the forecast period, supported by growing investments in healthcare infrastructure and innovative technologies.

Additionally, the presence of key market players such as Medtronic, Boston Scientific, and Abbott further contributes to the region's dominance. The demand for atherectomy and thrombectomy procedures is also bolstered by the growing number of clinical trials, which aim to improve the effectiveness and safety of these devices.

Asia Pacific

The Asia Pacific region is expected to witness the highest growth rate during the forecast period. With improving healthcare infrastructure, rising awareness about cardiovascular diseases, and increasing disposable income, the demand for advanced medical devices is expected to surge. China is projected to grow at a CAGR of 5%, while Japan is expected to witness a CAGR of 4.1%.

Increased government investment in healthcare, the expansion of medical facilities, and a growing patient population suffering from CVDs are all contributing to the market's growth in this region. Furthermore, rising healthcare awareness and the availability of affordable treatment options are expected to further fuel the demand for atherectomy and thrombectomy devices in the Asia Pacific region.

Market Drivers

Several factors are driving the growth of the atherectomy and thrombectomy devices market. The growing prevalence of cardiovascular diseases (CVDs) is one of the major drivers, as patients suffering from conditions like coronary artery disease and peripheral artery disease require these devices for effective treatment. The increasing aging population is another contributing factor, as the elderly are more prone to cardiovascular diseases, further elevating the need for atherectomy and thrombectomy procedures.

Technological innovations in atherectomy and thrombectomy devices, such as the development of minimally invasive solutions and enhanced visualization techniques, are also driving market growth. These innovations lead to better patient outcomes, shorter recovery times, and lower complication rates, making the procedures more attractive to both physicians and patients.

Market Restraints

Despite the promising growth prospects, the atherectomy and thrombectomy devices market faces several challenges. One of the key restraints is the scarcity of trained healthcare professionals capable of performing these complex procedures. The need for specialized training and expertise is essential to ensuring successful patient outcomes, which can limit market growth in certain regions, particularly in rural areas with fewer qualified professionals.

Additionally, the high cost of atherectomy and thrombectomy devices, coupled with strict regulatory standards, can hinder market growth, especially in emerging markets where healthcare budgets are limited.

Market Opportunities

The atherectomy and thrombectomy devices market presents numerous opportunities for growth. The increasing demand for minimally invasive procedures, coupled with advancements in device technology, offers significant potential for market expansion. The development of wearable devices for atherectomy and thrombectomy, for instance, opens new avenues for patient treatment and management.

Furthermore, increasing government support for healthcare infrastructure, particularly in developing regions, is likely to create a favorable environment for market growth. With greater awareness about cardiovascular diseases and the availability of reimbursement programs, there is considerable opportunity for market players to expand their reach and tap into emerging markets.

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Reasons to Buy the Report

• Gain an in-depth understanding of the global atherectomy and thrombectomy devices market.
• Analyze key trends and growth drivers impacting the market.
• Access comprehensive regional insights, including growth forecasts for key regions.
• Discover opportunities for market expansion, especially in emerging markets.
• Get a detailed competitive analysis of the top players operating in the market.

Frequently Asked Questions (FAQs)

• How big is the atherectomy and thrombectomy devices market?
• Who are the key players in the global atherectomy and thrombectomy devices market?
• What is the projected growth rate of the atherectomy and thrombectomy devices market?
• What is the market forecast for atherectomy and thrombectomy devices for 2032?
• Which region is estimated to dominate the atherectomy and thrombectomy devices industry through the forecast period?

Company Insights

Key players operating in the atherectomy and thrombectomy devices market include:

• Medtronic
• Boston Scientific
• Spectranetics
• Bayer AG
• Cardiovascular Systems
• Argon Medical Devices
• Getinge AB
• Straub Medical AG
• Teleflex
• Terumo Medical
• Abbott

Recent Developments:

Medtronic: In August 2021, Medtronic applied for approval from the U.S. FDA for the TurboHawk Plus Directional Atherectomy System, a new device designed to improve peripheral arterial disease interventions.

Philips: In May 2021, Koninklijke Philips N.V. announced the launch of its new Laser System for peripheral and coronary atherectomy treatments, further expanding its portfolio of vascular intervention devices.

The atherectomy and thrombectomy devices market is undergoing rapid advancements, and stakeholders must stay informed about the latest innovations to capitalize on emerging opportunities. As the market continues to grow, so too will the need for effective and reliable devices to treat cardiovascular conditions worldwide.

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