Dublin, Nov. 08, 2024 (GLOBE NEWSWIRE) -- The "Plaque Modification Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030" report has been added to ResearchAndMarkets.com's offering.
The plaque modification devices market was valued at USD 1.12 billion in 2023, growing at a CAGR of 8.09% during the forecast period from 2024 to 2030, in order to reach USD 1.77 billion by 2030.
The plaque modification devices market is expanding rapidly due to the growing prevalence of cardiovascular disorders including atrial fibrillation, coronary artery disease, and peripheral artery disease, increasing product developmental activities such as regulatory clearances, rising sedentary lifestyle & lifestyle-associated disorders that are expected to escalate the overall growth of the plaque modification devices market during the forecast period from 2024 to 2030.
Plaque Modification Devices Market Segment Analysis:
In the product type segment of the plaque modification devices market, the atherectomy devices category is expected to have a significant revenue share in the year 2023. This is because of the widespread uses and features of atherectomy devices that enhance their utility and effectiveness. Atherectomy devices are designed to remove atherosclerotic plaque from blood vessels, particularly in cases where the plaque is calcified or hardened. These devices come in various forms, including directional, rotational, orbital, and laser atherectomy systems, each using different mechanisms to break down or vaporize plaque.
Key features include precise plaque removal, which helps restore blood flow while minimizing damage to the vessel walls. Atherectomy devices are often equipped with imaging capabilities, allowing for better visualization and targeted treatment. These are frequently used in complex cases with calcified lesions, facilitating easier stent placement and improving long-term patient outcomes.
Therefore the widespread uses and various features of atherectomy devices enhance performance and usability, solidifying the significant impact on the growth of the overall plaque modification devices market during the forecast period from 2024 to 2030.
North America is expected to dominate the overall plaque modification devices market:
Among all the regions, North America is expected to dominate the plaque modification devices market in the year 2023 and is expected to do the same during the forecast period. This is driven by the increasing cardiovascular disorders including CAD, PAD, myocardial infarction, and its associated risk factors, regulatory support and the presence of well-established healthcare infrastructure are acting as key factors contributing to the growth of the plaque modification devices market in the North America region during the forecast period from 2024 to 2030.
According to data from the Centers for Disease Control and Prevention (2024), it was stated that 805,000 people in the US have a myocardial infarction every year on average. As per the same source, it was also stated that heart disease is an umbrella term that encompasses numerous indications such as acute coronary syndrome, atherosclerosis, and congestive heart failure among others. Some of the key risk factors associated with heart disease are high blood cholesterol, high blood pressure, and smoking. The source further mentioned that about half of Americans (47%) have at least one of these three risk factors. Furthermore, as per data provided by the National Institute of Health (2023), it stated that 20.5 million people in the US were living with CAD.
Data from the Canadian Institute for Health Information (2024), stated that in 2022, 2.4 million Canadians were affected by heart disease.
As per data by the American Heart Association, 2021, PAD affected about 8.5 million U.S. adults over the age of 40, in 2021. As per the same source, African Americans are more likely to screen positive for PAD than non-Hispanic adults.
Plaque modification devices are used to treat atherosclerosis in CAD and PAD by removing or altering plaque, restoring blood flow, and reducing heart attack risk. They are vital in managing these conditions and improving vascular health outcomes.
Rising product developmental activities by regulatory bodies and key players in the region will further boost the market for plaque modification devices. For example, in September 2021, Cardiovascular Systems Inc. received FDA approval for the Diamondback 360 Peripheral Orbital Atherectomy System and the Diamondback 360 Stealth Orbital Atherectomy System.
Therefore, the interplay of all the aforementioned factors would provide a conducive growth environment for the North American plaque modification devices market.
Plaque Modification Devices Market key players:
Some of the key market players operating in the Plaque Modification Devices market include Medtronic, Boston Scientific Corporation, Abbott, Shockwave Medical, Inc., Cardiovascular Systems, Inc., AngioDynamics, Inc., Avinger, REX MEDICAL, Ra Medical Systems, Koninklijke Philips N.V., Rontis Corporation, BD, Penumbra, Inc., Stryker, Microvention, Inc., Johnson & Johnson Services, Inc., ARGON MEDICAL., Inari Medical, Nitiloop, Soundbite Medical Solutions, and others.
Key Takeaways from the Plaque Modification Devices Market Report Study
- Market size analysis for current plaque modification devices market size (2023), and market forecast for 6 years (2024 to 2030)
- Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
- Key companies dominating the plaque modification devices market
- Various opportunities available for the other competitors in the plaque modification devices market space
- What are the top-performing segments in 2023? How these segments will perform in 2030?
- Which are the top-performing regions and countries in the current plaque modification devices market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for plaque modification devices market growth in the coming future?
Key Topics Covered:
1. Plaque Modification Devices Market Report Introduction
1.1. Scope of the Study
1.2. Market Segmentation
1.3. Market Assumption
2. Plaque Modification Devices Market Executive Summary
2.1. Market at Glance
3. Competitive Landscape
4. Regulatory Analysis
4.1. The United States
4.2. Europe
4.3. Japan
4.4. China
5. Plaque Modification Devices Market Key Factors Analysis
5.1. Plaque Modification Devices Market Drivers
5.1.1. Growing prevalence of cardiovascular disorders
5.1.2. Increasing product developmental activities
5.1.3. Rising sedentary lifestyle and Increasing prevalence of lifestyle-associated disorders
5.1.4. Rising preference of minimally invasive device
5.2. Plaque Modification Devices Market Restraints and Challenges
5.2.1. Side effect associated with vessel injury, hematoma, and other
5.2.2. Availability of alternative procedures
5.3. Plaque Modification Devices Market Opportunities
5.3.1. Advances in patient-specific treatment plans
5.3.2. Strategic partnerships between medical device manufacturers, research institutions, and healthcare providers
6. Plaque Modification Devices Market Porter's Five Forces Analysis
7. Plaque Modification Devices Market Assessment
7.1. By Product Type
7.1.1. Atherectomy devices
7.1.2. Thrombectomy devices
7.1.3. Chronic Total Occlusion (CTO) Devices
7.1.4. Embolic Protection Devices
7.1.5. Others
7.2. By Application
7.2.1. Coronary artery diseases
7.2.2. Peripheral artery diseases
7.2.3. Neurovascular diseases
7.3. By End-User
7.3.1. Hospitals
7.3.2. Ambulatory Surgical Centers
7.3.3. Others
7.4. By Geography
8. Plaque Modification Devices Market Company and Product Profiles
- Medtronic
- Boston Scientific
- Abbott
- Shockwave Medical, Inc.
- Cardiovascular Systems, Inc.
- AngioDynamics, Inc.
- Avinger
- REX Medical
- Ra Medical Systems
- Koninklijke Philips
- Rontis Corporation
- BD
- Penumbra, Inc.
- Stryker
- Microvention, Inc.
- Johnson & Johnson Services, Inc.
- ARGON MEDICAL
- Inari Medical
- Nitiloop
- Soundbite Medical Solutions
9. KOL Views
10. Project Approach
For more information about this report visit https://www.researchandmarkets.com/r/su8w2y
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
