Atherectomy Devices Market Driven by Growing Prevalence of Atherosclerosis in North America
Atherectomy Devices Market Research Report, by Product Type (Directional Atherectomy Systems, Orbital Atherectomy Systems, and others), by Application (Cardiovascular, Neurovascular, Peripheral Vascular, and others), by End User–Forecast Till 2027
The global atherectomy devices market is expected to exhibit a strong 6.12% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global atherectomy devices market was valued at USD 1.09 billion in 2017. The report provides a complete overview of the global atherectomy devices market by providing a detailed analysis of the market’s major drivers and restraints, leading players, and other factors and trends affecting the market’s movement over the forecast period. The impact of the COVID-19 pandemic on the global atherectomy devices market is also examined in the report, in both the short term and long term.
Atherectomy devices are devices used in the minimally invasive surgery to remove atherosclerosis from the blood vessels. Atherosclerosis is the buildup of fats and other substances in the body’s blood vessels, leading to blockages and difficulty in passing blood through the vessel. Atherosclerosis can have deadly consequences, as the inability to pass blood through blood vessels can result in strokes and heart attacks, among others. This has resulted in a growing awareness about atherosclerosis, especially in developed countries, in the last few decades, leading to a growing demand for atherectomy devices for effective atherosclerosis surgeries.
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The growing popularity of minimally invasive surgeries among patients in developed countries is one of the key drivers for the global atherectomy devices market over the forecast period. Minimally invasive surgeries result in less blood flow, less risk of complications, and less recovery time, resulting in growing popularity of minimally invasive surgeries over conventional surgeries. The growing awareness about minimally invasive surgeries in developing countries such as India, China, South Korea, and Brazil is likely to be a major driver for the global atherectomy devices market over the forecast period. Many of these regions are also home to significant populations of the obese and overweight, who are at an increased risk of atherosclerosis due to the high presence of fats in the blood. This has also been a key driver for the global atherectomy devices market, as emerging regions such as the ones listed above have the potential to become important regional markets in the global atherectomy devices market over the forecast period.
Competitive Leaderboard:
Leading players in the global atherectomy devices market include Abbott, Avinger, B. Braun Melsungen AG, Biomerics, Biotronik, Boston Scientific Corporation, C. R. Bard, Cardinal Health, Koninklijke Philips, Minnetronix Inc., and Straub Medical. Mergers and acquisitions are likely to remain an important strategy for players in the global atherectomy devices market over the forecast period. For instance, in June 2018, Biomerics announced the acquisition of FutureMatrix Interventional Inc. Through this acquisition, the company aims to strengthen its portfolio of interventional catheters used in cardiovascular and urological surgical procedures. New product launches are also likely to be a popular tactic for players in the global atherectomy devices market over the forecast period.
Segmentation:
The global atherectomy devices market is segmented on the basis of product type, application, end user, and region.
By product type, the global atherectomy devices market is segmented into directional atherectomy systems, orbital atherectomy systems, photo-ablative (laser) atherectomy systems, rotational atherectomy systems, and others. The directional atherectomy systems segment is likely to hold the largest share in the global atherectomy devices market over the forecast period, due to the high treatment rate of the procedure. The photo-ablative atherectomy systems segment is expected to exhibit the highest growth rate over the forecast period.
By application, the global atherectomy devices market is segmented into cardiovascular, neurovascular, peripheral vascular, and others.
On the basis of end user, the atherectomy devices market is segmented into hospitals, ambulatory surgery centers, and others.
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Regional Analysis:
The Americas dominate the global atherectomy devices market due to the widespread prevalence of atherosclerosis in the region. North America is the leading regional market for atherectomy devices due to the growing awareness among medical professionals about high-end atherectomy devices and the increasing research funding for atherosclerosis treatment in the region.
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