Dublin, Feb. 09, 2024 (GLOBE NEWSWIRE) -- The "Atherectomy and Thrombectomy Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)" report has been added to ResearchAndMarkets.com's offering.
The global Atherectomy and Thrombectomy Devices Market is set to witness substantial growth from 2024 to 2031. The market is anticipated to expand from US$3.6 billion in 2026 to US$ 5.8 billion by 2031.
Key Highlights:
- The Atherectomy and Thrombectomy Devices Market is poised for notable growth between 2024 and 2031, with a steady projected Compound Annual Growth Rate (CAGR). During this period, the market is expected to experience considerable expansion, reaching a higher value in 2031 compared to 2024.
- COVID-19 pandemic temporarily impacted the market; recovery expected as healthcare activities resume.
- Minimally invasive surgeries and technological advancements drive market growth.
- North America is the primary market leader, and the United States is expected to maintain a steady growth rate.
- Asia Pacific poised for rapid growth, with Japan and China showing promising CAGR.
Driving Factors:
The growing preference for minimally invasive surgeries is a significant driver of the market. These procedures offer reduced pain, shorter hospital stays, and fewer complications. Atherectomy, a minimally invasive artery treatment, is in high demand due to its benefits.
Additionally, ongoing research, favorable medical reimbursement scenarios, and robust distribution systems contribute to market growth.
Challenges:
The scarcity of healthcare workers, particularly in rural areas, poses a challenge. The market's potential is hindered by a lack of trained professionals to handle these devices, coupled with stringent regulations.
Regional Outlook:
North America: North America is poised to maintain the largest market share during the forecast period, driven by factors such as enhanced reimbursements for atherectomy systems, a substantial patient population dealing with peripheral and coronary artery diseases, the adoption of atherectomy systems by medical professionals, and a growing number of clinical trials.
The United States is expected to demonstrate a steady Compound Annual Growth Rate (CAGR) during the forecast period. In addition to the factors mentioned earlier, the increased interest of atherectomy device vendors in the region contributes to the heightened demand for these products.
Furthermore, government initiatives aimed at raising awareness and the necessity for improved healthcare infrastructure are propelling the atherectomy and thrombectomy devices market in North America throughout the forecast period.
Asia Pacific: The Asia Pacific atherectomy and thrombectomy devices market is projected to experience a more rapid growth rate during the forecast period, driven by enhancements in healthcare infrastructure, heightened patient awareness, and increased disposable income. Japan is expected to maintain a steady Compound Annual Growth Rate (CAGR) during this period, while China is anticipated to have a slightly higher CAGR by 2031.
Competitive Analysis:
Key players in the market prioritize collaborations, mergers, acquisitions, and innovation. Recent developments include:
- Cardiovascular Systems Inc's Diamondback 360 Coronary Orbital Atherectomy System receiving CE mark with GlideAssist technology.
- Koninklijke Philips N.V. launching the Philips Laser System for atherectomy treatments.
- AngioDynamics introducing the Auryon Atherectomy System in the United States.
- Medtronic applying for FDA approval for the TurboHawk Plus Directional Atherectomy System.
The global atherectomy and thrombectomy devices market is poised for robust growth, driven by factors such as the increasing prevalence of cardiovascular disorders and advancements in technology.
Key Segments
By Type
- Rheolytic
- Aspiration
- Rotational
- Ultrasound Device
By Application
- Hospitals
- Clinics
- Others
A selection of companies mentioned in this report includes
- Medtronic
- Boston Scientific
- Spectranetics
- Bayer AG
- Cardiovascular Systems
- Argon Medical Devices
- Getinge AB
- Straub Medical AG
- Teleflex
- Terumo Medical
- Abbott
For more information about this report visit https://www.researchandmarkets.com/r/ronbop
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