Atherectomy Devices Market Set to Reach US$735 Mn by 2022-end – TMR

Atherectomy Devices Market: Technological Developments to Drive North America Atherectomy Devices Market

Albany, New York, Oct. 25, 2018 (GLOBE NEWSWIRE) -- A report on the global Atherectomy Devices Market finds that it would rise at a steady CAGR of 5.6% over the course of the forecast duration which begins in 2017 and ends in 2022. Rising at this pace, the market which was valued at US$558.9 mn in 2016, would likely attain a value of US$735 mn by 2022-end.

Hospitals Majorly Fuelling Demand in Global Atherectomy Devices Market

Atherectomy devices find application in treating cardiovascular, peripheral, or neurovascular diseases. Such devices are mainly used in clinics, hospitals, and ambulatory surgical centers (ASCs). Among them, hospitals account for most of the demand worldwide at present. In the near term, the clinics are also expected to drive demand substantially.

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There are other prominent demand drivers too in the global atherectomy devices market. Those include the soaring instances of cardiovascular diseases because of the fast pace lifestyle and unhealthy eating habits of people. Besides, swift pace of urbanization leading to awareness among medicos and people alike about such devices and the growing demand for minimally invasive surgical procedures too is having a positive impact on the market.

Thrust on Product Development Bodes Well for Market

Adds the lead analysts of our report, “Bettering of distribution networks and continued thrust on product development is proving beneficial for the global atherectomy devices market.” Posing a challenge to the market, on the other hand, are the strict regulations guiding the development, manufacture, and usage of the products. Further, inadequate number of skilled surgeons is also hampering growth of the global atherectomy devices market.

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Among the different types of atherectomy devices available in the market, the directional atherectomy devices account for most of the share. This is because of their numerous benefits. First, is their ability of plaque debulking. Second, is their availability in different sizes to suit different needs. From a geographical perspective, the global atherectomy devices market is currently being led by North America which holds maximum share. The region’s supremacy is on account of the supportive reimbursement policies and the presence of numerous players. Besides, the increasing number of FDA approved atherectomy devices has also been supporting its market growth. The region is expected to surge at a steady CAGR of 6.0% from 2017 to 2022.

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Several players operate in the global atherectomy devices market. As a result, the landscape is competitive and fragmented. To thrive in such a cutthroat scenario, companies are seen banking upon product diversification. They are investing considerable amounts in research and development for refurbishing their existing product lines and adding new ones to it. All such activities are expected to bode well for the growth in the market.

Banking upon such nimble strategies, companies that have come to hold a prominent position in the global atherectomy devices market are Boston Scientific Corp., Medtronic Plc, Avinger Inc., Cardiovascular Systems Inc., and Terumo Corp. Going forward, the competition among the key players is set to rise even further.

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The review is based on the findings of a TMR report, titled, “Atherectomy Devices Market (Device Type - Directional Atherectomy Devices, Rotational Atherectomy Devices, Orbital Atherectomy Devices, and Laser Atherectomy Devices; End User - Hospitals, Clinics, and Ambulatory Surgical Centers (ASCs); Application - Cardiovascular, Neurovascular, and Peripheral Vascular Atherectomy Devices) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2022.”

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.


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