New York, Aug. 07, 2019 (GLOBE NEWSWIRE) -- High prevalence of peripheral artery diseases, change in lifestyles and a rise in the geriatric population are the key factors contributing to the CAGR in the forecasted period.
According to the current analysis of Reports and Data, The global Atherectomy market was valued at USD 1.12 Billion in 2018 and is expected to reach USD 1.88 Billion by year 2026, at a CAGR of 6.6%. Atherectomy is a procedure to remove plaque from an artery. Removing plaque makes the artery wider so the blood can flow more freely to the muscles. This procedure is used to treat peripheral artery disease and coronary artery disease. The procedure is sometimes performed on patients with very hard plaque or on patients who have already had an angioplasty and stents but still have plaque blocking the blood flow. The procedure is specifically designed to treat narrowing in arteries caused by peripheral artery diseases. It is a frequently opted alternative to Angioplasty. The surgery is not too costly either making it an apt alternative to angioplasty. The surgery is quicker than the traditional open surgery and thus is preferred by most. In addition, it is a faster and a simpler procedure to perform and therefore is advised by many surgeons.
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Further key findings from the report suggest
- Minimal invasiveness has been attracting the attention of many in the recent times. Since Atherectomy is one of the major types of minimal intrusive treatments, there has been a spur of growth in the demand for this procedure. Increasing cases of peripheral artery diseases and coronary artery diseases, has triggered research and development initiatives to develop several innovative solutions for the treatment purposes, which lays a foundation for future growth.
- A lot of research and development is being carrying out continuously for launching novel, improved devices in the market has been encouraging demand for the Atherectomy market.
- The biggest factor attracting the market is its minimal invasiveness. With the rising preference of the people to opt for minimal invasive surgeries has been the key factor propelling the market.
- Excisional or Directional Atherectomy dominates the market with the largest market share of around 42.4% and is also expected to register the highest CAGR of 7.1% owing to its technologically advanced nature. This is followed by Rotational Atherectomy with a market share of 25.4% and a CAGR of 6.4%
- The Peripheral Artery Disease dominates the market for treatment due to the rise in the cases of PAD. This is followed by Coronary Artery diseases.
- Asia Pacific is the fastest growing sector with a CAGR of 7.1%. The continuous development in the emerging countries has led to better medical infrastructures. The governments of various emerging economies have been providing medical aids to the people to promote minimally invasive surgeries. This has further increased the demand for Atherectomy in such regions.
- North America dominates the market with the largest market share due to the continuous technological advancements and research and development for developing better and more efficient devices for the procedure. North America is expected to register a CAGR of 6.9%.
- Europe follows North America with the second largest market share. The rising cardiovascular problems among the people and the preference of the people for minimally invasive procedures have increased the demand for Atherectomy in this region. The region is expected to continue its growth at a CAGR of 6.3%.
- The key players include Phillips Healthcare, Bayer AG, BARD Peripheral Vascular Inc., Boston Scientific, Medtronics, Cardiovascular Systems Inc. and Avinger Inc.
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Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Photomedicine market on the basis of type, application, end use and region:
Type (Revenue, USD Billion; 2016–2026)
- Excisional
- Transluminal
- Laser
- Rotational
- Orbital
- Other
Application (Revenue, USD Billion; 2016–2026)
- Peripheral Artery Diseases
- Coronary Artery Disease
- Neurovascular Disease
End Use (Revenue, USD Billion; 2016–2026)
- Hospitals
- Ambulatory Care Centers
- Medical Research Institutes
- Cardiac Catherization Lab
- Other
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Regional Outlook (Revenue in USD Billion; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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