Atherectomy Devices Market Likely To Touch At $957.8 Million By 2026: Grand View Research Inc.

 

The global atherectomy devices market size was valued at USD 557.7 million in 2018 and is projected to grow with a CAGR of 7.0% over the forecast period. The rising prevalence of target diseases is the key driver of the market. More than 250 million people worldwide suffer from peripheral artery disease (PAD), with high prevalence in the geriatric population. The prevalence of PAD increased by 24% between 2000 to 2010 and continues to grow at an exponential rate. Both high- and low-income countries have this prevalence. Low-income countries witnessed a growth of 29%, while high-income countries witnessed a growth of 13% in the last decade.

With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.

Increasing geriatric population, changing lifestyle, and an increase in patients suffering from Peripheral Artery Disease (PAD) are some of the major drivers of the atherectomy devices market. Continuous clinical trials to introduce and identify optimal interventions for treating PAD is another factor that can be attributed to the growth over the coming years. Catheter-based devices, which use rotational, orbital, laser, & directional approaches, reduce vessel barotrauma and are used to treat peripheral vascular lesions & improve patient outcomes. Technological advancement is one of the major factors driving the atherectomy market growth. Industry players are involved in the introduction of new devices that work in an efficient manner. Mergers and acquisitions is one of the strategies of the industry players to capture larger market share. For instance, in 2014, Boston Scientific announced the acquisition of the interventional business of Bayer AG to offer healthcare systems & physicians enhanced solutions for treating complicated vascular conditions.

To Request Sample Copy of this report, click the link:

https://www.grandviewresearch.com/industry-analysis/atherectomy-device-market/request/rs1

Directional atherectomy devices dominated the market in 2016. Furthermore, laser atherectomy devices are rapidly gaining its roots in the market. Laser atherectomy, as an adjunct to other therapies such as stents & balloons and as a standalone treatment, has been approved by the FDA for the treatment of peripheral occlusions and stenosis, which has encouraged the companies to introduce laser atherectomy devices to capture the market. For instance, in 2014 the FDA approved the products, Turbo-Tandem and Turbo-Elite, by Spectranetics for use in the treatment of In-Stent Restenosis (ISR).

Further Key Findings From the Study Suggest:

• In 2018, the directional atherectomy segment held the largest market share owing to their capability of collecting the shaved plaque in a collecting space, which reduces the risk of barotrauma, dissection, and neointimal hyperplasia.
• Laser atherectomy devices is expected to the fastest growing segment over the next 8 years. Laser technique is perceived as to have more precision in plaque removal and cause fewer complications. It is also believed to result in lesser incidence of restenosis.
• Geographically, North America held the largest market share in 2018 and is expected to maintain its position during the forecast period. A high prevalence of Peripheral Artery Diseases (PAD) in this region is one of the key reasons for high demand of atherectomy. Almost 8.5 million people suffer from PAD in the U.S., resulting in an annual economic burden of nearly USD 160 million.
• Asia Pacific is anticipated to observe the fastest growth over the coming years. Improving economic conditions leading to increasing prevalence of lifestyle diseases, especially cardiovascular and peripheral, is the key reason for this growth.
• Some of the key industry contributors are Boston Scientific Corporation, Cardiovascular Systems Inc., Medtronic (Covidien), Spectranetics, VOLCANO CORPORATION, Avinger Inc., Koninklijke Philips N.V., Straub Medical AG, ST. JUDE MEDICAL, BARD Peripheral Vascular, Cardinal Health (Cordis), and Terumo IS.

Asia Pacific is expected to be the most lucrative region for the industry. This is due to the rapidly increasing geriatric population, presence of a large patient pool, and increased healthcare expenditure. The Chinese government has invested huge efforts in training and educating workforce in the healthcare sector. In 2011, 33,000 doctors were recruited for advanced master’s degree program in cardiovascular diseases. This has led to an increased capacity of performing 300 procedures annually. Thus, government efforts and rising prevalence of target diseases is expected to boost the market over the forecast period.

Several regional and international players are operating in the industry. Some of the key industry contributors are Boston Scientific Corporation, Cardiovascular Systems Inc., Medtronic (Covidien), Spectranetics, VOLCANO CORPORATION, Avinger Inc., Bayer AG, Straub Medical AG, ST. JUDE MEDICAL, BARD Peripheral Vascular, Cardinal Health (Cordis), and Terumo IS.

Have a Query? Ask Our Expert:

https://www.grandviewresearch.com/inquiry/2835/ibb

The healthcare industry is witnessing dynamic activities in the form of new product approvals and increasing commercialization in various geographical locations. For instance, in January 2017, Medtronic plc received CE mark approval for its HawkOne directional atherectomy system. The new HawkOne 6 French (6F) system for treating patients with PAD provides easy to use treatment option with a single device.

Some of the key industry contributors are Boston Scientific Corporation, Cardiovascular Systems Inc., Medtronic (Covidien), Spectranetics, VOLCANO CORPORATION, Avinger Inc., Koninklijke Philips N.V, Straub Medical AG, ST. JUDE MEDICAL, BARD Peripheral Vascular, Cardinal Health (Cordis), and Terumo IS.

This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2015 to 2026. For this study, Grand View Research has segmented the global Atherectomy Devices market based on type:

·        Type Outlook (Revenue, USD Million; 2015 - 2026)

·         Directional atherectomy

·         Rotational atherectomy

·         Orbital atherectomy

·         Laser atherectomy

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:www.grandviewresearch.com