Atherectomy Devices Market Worth 1.45 Billion USD by 2022
08 Nov, 2017, 13:30 GMT
PUNE, India, November 8, 2017 /PRNewswire/ --
According to a new market research report "Atherectomy Devices Market by Type (Hydrodynamic, Ultrasound, Aspiration, Mechanical Thrombectomy), Application (Cardiovascular, Peripheral, Neurovascular), End User (Hospitals, Surgical Centers, Ambulatory, Academia, CROs) - Global Forecasts to 2022", published by MarketsandMarkets™, the report studies the global Atherectomy Devices Market over the forecast period of 2017 to 2022. The market is projected to reach USD 1.45 Billion by 2022 from USD 1.08 Billion in 2017, at a CAGR of 6.1%. Factors such as favorable reimbursement scenario for atherectomy procedures, increasing number of research activities in the field of atherectomy, and increasing healthcare expenditure are driving the growth of the market.
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Based on product, the directional atherectomy devices segment is expected to witness the highest growth during the forecast period.
On the basis of product, the Atherectomy Devices Market is categorized into directional, orbital, photo-ablative (laser), rotational atherectomy devices, and support devices. In 2017, the directional atherectomy devices segment accounted for the largest share of the market. It is also expected to register the highest CAGR during the forecast period. This can be attributed to clinical benefits offered (such as lack of barotrauma, less risk of neointimal hyperplasia, immediate change of bypass site, and availability of differently sized instruments to enable atherectomy in blood vessels) and ongoing technological advancements in the field of directional atherectomy.
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Based on application, the peripheral vascular applications segment is estimated to have the largest share of the market in 2017.
Based on application, the market is categorized into peripheral vascular, cardiovascular, and neurovascular applications. The peripheral vascular applications segment accounted for the major share of the market owing to the significant availability of clinical evidence to support the therapeutic efficacy of atherectomy in PVD treatment and growing patient preference for minimally invasive surgical procedures.
Based on end user, the hospitals and surgical centers segment is expected to witness the highest growth during the forecast period.
Based on end user, the market is segmented into hospitals & surgical centers, ambulatory care centers, and research laboratories & academic institutes. The hospitals and surgical centers segment is expected to register the highest CAGR during the forecast period. The large share of this segment is attributed to increasing adoption of atherectomy for cardiac & peripheral vascular disease treatment, ongoing technological advancements in the field of minimally invasive or image-guided atherectomy procedures, rising incidence of chronic vascular diseases, and growing availability of healthcare reimbursements across major countries.
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North America is expected to dominate the Atherectomy Devices Market in 2017.
Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the market in 2017, followed by Europe. Factors such as increasing availability of reimbursements for atherectomy devices, growing adoption of atherectomy devices among medical professionals, large patient population of peripheral & coronary artery diseases, and growing number of clinical trials are driving the growth of the North American Atherectomy Devices Market. However, Asia Pacific is expected to register the highest growth rate during the forecast period. This can be attributed to the increasing prevalence of target diseases, increasing healthcare expenditure, cost-effective (owing to the increase in localized manufacturing and strengthening of distribution networks of key product manufacturers), and rising awareness among surgeons related to the benefits offered by atherectomy systems (less revascularization rates, high efficacy, short procedural time).
Major players operating in the Atherectomy Devices Market are Medtronic (Ireland), Philips (Netherlands), Boston Scientific (US), and Cardiovascular Systems (US). Other prominent players present in this market include Straub Medical (Switzerland), BIOTRONIK (Netherlands), C.R. Bard (US), and Avinger (US).
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