Pune, India., Sept. 20, 2023 (GLOBE NEWSWIRE) -- The thrombectomy devices market growth is propelled by elevating incidences of CVDs and neurological diseases, technological advancements, government initiatives towards prevention of diseases and favorable medical reimbursement scenario. However, the factors restraining the market growth are as limited patient awareness related to thrombectomy and lack of trained healthcare professionals.
Thrombectomy Devices Market in terms of revenue was estimated to be worth $1.28 billion in 2018 and is poised to reach $2.10 billion by 2027, growing at a CAGR of 5.9% from 2019 to 2027 according to a new report published by The Insight Partners.
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Global Thrombectomy Devices Market Scope:
| Report Coverage | Details |
| Market Size Value in | USD 1.28 Billion in 2018 |
| Market Size Value by | USD 2.10 Billion by 2027 |
| Growth rate | CAGR of 5.9% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
| No. of Pages | 154 |
| No. of Tables | 72 |
| No. of Charts & Figures | 64 |
| Historical data available | Yes |
| Segments covered | Type, Application, End User and Geography |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Thrombectomy Devices Market: Competitive Landscape and Key Developments
Penumbra, Inc., Stryker Corporation, Medtronic, Inc.; Edward Lifesciences Corporation, Terumo Corporation, Koninklijke Philips N.V, Teleflex Incorporated, Johnson & Johnson Services, Inc., Inari Medical, and Argon Medical among others are among the leading companies operating in the thrombectomy devices market. These players are focusing on expanding and diversifying their market presence and acquiring a novel customer base, thereby tapping prevailing business opportunities in the thrombectomy devices market. Penumbra, Inc., Stryker Corporation, and Medtronic, Inc. These three players dominate the global thrombectomy devices market. These companies focus on various growth strategies such as collaboration, product launches, business expansions, agreements among others to retain its position in the global market. Many market players are launching their innovative products in the thrombectomy devices market with advanced features. For instance,
In February 2022, Cernuous, part of Johnson & Johnson Medical Devices Companies, launched EMBOGUARD, a next-generation balloon guide catheter that is to be used in endovascular procedures, which also includes the patients with acute ischemic stroke.
In November 2021, Penumbra Inc., announced that the CHEETAH, a clinical study of its Indigo System CA RX Catheter had successfully met the primary endpoint and demonstrated high rates of blood clot removal, blood flow restoration, and myocardial perfusion in conjunction with percutaneous coronary intervention (PCI) in patients with high thrombus burden.
Increasing Research and Studies in Field of Thrombectomy are Creating Development Opportunities for Global Thrombectomy Devices Market Growth During 2019-2027:
There is continuous research going on in the field of thrombectomy, related to various diseases to check the success rate. Recently, in May 2019, American Heart Association (AHA) / American Sociological Association (ASA) Journals published a report on the time and relevance of clinical improvement after mechanical thrombectomy in patients with acute ischemic stroke. This study concluded that the shorter delay to clinical improvement was related to better chances of a good long-term outcome, and an improvement was >30% in National Institutes of Health Stroke Scale score at the end of mechanical thrombectomy (MT). This study represents a reliable prognostic marker for clinicians and also for clinical research.
Additionally, in June 2019, American Heart Association (AHA) / American Sociological Association (ASA) Journals also published a study on the recent nationwide impact of mechanical thrombectomy on decompressive hemicraniectomy for acute ischemic stroke. This study analyzed the impact of changes in stroke management on the nationwide trends in patient characteristics, treatment modalities, and outcomes. This study showed that successful reperfusion of penumbra with mechanical thrombectomy (MT) in stroke patients leads to declining indication for decompressive hemicraniectomy (DHC) while stroke volume increases with time. Therefore, increasing research studies related to thrombectomy is increasing the market of thrombectomy devices.
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Global Thrombectomy Devices Market: Segmental Overview
The “Global Thrombectomy Devices Market” is segmented based on type, application, end user, and geography. Based on type, the thrombectomy devices market is segmented into mechanical thrombectomy devices, rheolytic thrombectomy devices, aspiration thrombectomy devices, and ultrasonic thrombectomy devices. In 2018, the mechanical thrombectomy devices segment held the largest share of the market. However, mechanical thrombectomy devices segment is expected to register the highest CAGR of 6.4% in the market during the forecast period Based on application, the thrombectomy devices market is segmented into neurovascular, peripheral vascular, cardiovascular and others. In 2018, cardiovascular segment held the largest share of the market. However, peripheral vascular segment is expected to grow at the fastest rate during the coming year. Based on end user, the thrombectomy devices market is segmented into hospitals & clinics, ambulatory surgical centers, and academic & research institutes. In 2018, hospitals segment held the largest share of the market. However, the hospitals segment is expected to grow at the fastest rate during the coming year.
Go through further research published by The Insight Partners:
Clot Management Devices Market - Global Analysis and Forecast to 2030
Neurointerventional Devices Market - Global Analysis and Forecast to 2027
Interventional Radiology Products Market - Global Analysis and Forecast to 2030
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