Global Thrombectomy Devices Market is expected to reach $1,389 million by 2022
Global Thrombectomy Devices Market Report, published by Allied Market Research, forecasts that the global market was valued at $982 million in 2016, and is expected to reach $1,389 million by 2022, supported by a CAGR of 5.9% during the forecast period 2014 to 2022. Mechanical thrombectomy would continue to be the preferred technology throughout analysis period. North America dominated with around half of the market share in 2015 and is projected to maintain the lead throughout the forecast period.
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High occurrences of acute myocardial infarction, peripheral artery disease, deep vein thrombosis, VTE (Venous Thromboembolism) and pulmonary embolism owing to the sedentary, and unhealthy lifestyle majorly drives the market growth. VTE is most common in adults (>60 years). In addition, better healthcare infrastructure and increase in demand for minimally-invasive treatments; rise in the geriatric population, which increases incidence of cardiovascular diseases; and technological advancements & innovations are the factors that nurture the growth of the thrombectomy devices market. Some of the restraints associated with the thrombectomy devices market are scarcity of trained professionals, lack of awareness, and the complicated use of devices.
Disposable thrombectomy devices segment generated highest revenue in 2015 and would continue to follow this trend throughout the analysis period.
Geographically, North America occupied a major market share in 2015, and is expected to continue leading during analysis period. This was attributed to the sedentary and unhealthy lifestyle of the current generation, demand of better healthcare infrastructure, and increase in demand for minimally-invasive treatments and incidence of cardiovascular diseases. However, Asia-Pacific followed by LAMEA are expected to be the fastest growing regions, owing to the presence of ample growth opportunities in terms of unmet medical needs for the treatment of thrombus.
The thrombectomy devices market holds a substantial scope for growth globally. Recent innovations, which embed introduction of innovative ideas such as use of lasers, ultraviolet radiation, and 3D image generation, will provide better results to the physicians and allow them to work more efficiently. The upcoming trend in this market is the introduction of a technique, which involves the combination of decompressive hemicraniectomy and endovascular thrombectomy to treat patients with cerebral venous thrombosis.
Key findings of the Thrombectomy Devices Market
- Mechanical thrombectomy devices was the leading segment in 2015, and is expected to maintain this position throughout the analysis period.
- Neurovascular disorder is the major indication which uses thrombectomy devices for treatment; with over half of the total market share in 2015.
- Peripheral and coronary diseases segments are projected to grow at a significant CAGR.
- Reusable thrombectomy devices is projected to grow at a CAGR of 7.7%.
- U.S market for thrombectomy devices is projected to grow at a CAGR of 5.0%.
- U.S. was the largest country market in 2015, and is projected to maintain its lead until 2022.
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Key players have adopted mergers & acquisitions and product launch as their key strategies in the thrombectomy devices market. This is due to the growth in competition and continuous technological advancements. In July, 2016, Penumbra launched thrombectomy device ACE 68 Reperfusion Catheter for commercial use in the U.S. This catheter uses the latest advancements available in the tracking technology and delivers maximum aspiration power for extracting thrombus in stroke intervention. This product launch is expected to strengthen the product portfolio of Penumbra, a leading market player. The major market players profiled in this report include Boston Scientific Corporation, Medtronic Plc, Teleflex Incorporated, Penumbra Inc., The Spectranetics Corporation, AngioDynamics, Inc., Terumo Corporation, Johnson and Johnson, Inc., Stryker Corporation, and Vascular Solutions, Inc.