New York, Feb. 28, 2023 (GLOBE NEWSWIRE) -- The atherectomy and thrombectomy devices market is expected to escalate at a CAGR of 5.7%, from US$ 3.5 billion in 2022 to US$ 6 billion through 2032.
The COVID-19 pandemic has impacted the Atherectomy and Thrombectomy Devices Market. A number of cardiovascular surgeries and non-essential therapies have been postponed. Furthermore, many companies postponed non-COVID-19-related research, causing product launches to be delayed.
Activities in a range of industries, including healthcare, have started to return to pre-COVID levels, creating significant opportunities for the atherectomy and thrombectomy devices market. The growing inclination for minimally invasive surgeries is driving the atherectomy and thrombectomy devices market.
Atherectomy and thrombectomy device market share is rising. As in contrast to traditional open surgery, doctors use a range of techniques to operate with minimal damage to the
body in minimally invasive surgery. The adoption of advanced technologies such as laser and ultraviolet radiation, recombinant tissue technology, helicutters, and 3D image production is also likely to provide the atherectomy and thrombectomy devices market opportunities.
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However, due to a dearth of trained people with the expertise to handle such devices, the minimally invasive devices category is unable to take advantage of this opportunity. This, combined with other factors such as rigorous regulations, is projected to impede the market's growth.
Rising government initiatives to raise awareness and the need for better health care infrastructure are driving the atherectomy and thrombectomy devices market in North America throughout the forecast period.
Key Takeaways
- The atherectomy and thrombectomy devices market is predicted to develop at a CAGR of 5.7%, with a market share of US$ 6 Billion through 2032.
- In the United States, the atherectomy and thrombectomy devices market is estimated to reach US$ 2.2 Billion, with a CAGR of 5.5% through 2032.
- The atherectomy and thrombectomy devices market in China is expected to have a prodigious CAGR of 5% through 2032, with the expected market share of US$ 432.4 Million.
- The atherectomy and thrombectomy devices market in Japan is expected to reach US$ 348.7 Million, with a steady CAGR of 4.1% through 2032.
- The atherectomy and thrombectomy devices market in the UK is expected to have a market share of US$ 248.8 Million, with a CAGR of 4.4% through 2032.
- The atherectomy and thrombectomy devices market's rotational segment from the type category is predicted to develop at a CAGR of 5.7% through 2032.
- The atherectomy and thrombectomy devices market's hospital segment from the application category is predicted to develop at a CAGR of 5.8% through 2032.
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Competitive Landscape
Major key players in the atherectomy and thrombectomy devices market are
- Medtronic
- Boston Scientific
- Spectranetics
- Bayer AG
- Cardiovascular Systems
- Argon Medical Devices
- Getinge AB
- Straub Medical AG
- Teleflex
- Terumo Medical
- Abbott, contributing to the atherectomy and thrombectomy devices market share.
Given the synergies and scale-efficiency benefits, higher government investment could improve the business case for atherectomy and thrombectomy device providers and increase profitability.
- The new Philips Laser System for peripheral and coronary atherectomy treatments was announced in May 2021 by Koninklijke Philips N.V.
- AngioDynamics announced the commercial introduction of their Auryon Atherectomy System in the United States in September 2020. Solid-state laser technology is used in the gadget.
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Market Segmentation-
- By Type – Rheolytic, Aspiration, Rotational, Ultrasound Device
- By Application – Hospitals, Clinics, Others
- By Region - North America, Latin America, Europe, Asia Pacific, Middle East & Africa
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