The size of the Atherectomy Devices Market at a global level was worth USD 555 million in 2020 and estimated to be growing at a CAGR of 6.8% to reach USD 771 million by 2025. The market is showcasing the evident potential in the mentioned forecasting period. The market continues to gain momentum with rapid development in the medical industry.
Atherectomy is a surgical process for plaque that blocks the arteries or veins related to the heart.
The growing incidence of chronic diseases and technological advancements are majorly driving the growth of the global atherectomy devices market.
Growing older people population vulnerable to several chronic conditions which will foster the market growth over the period. Frequent increase of aimed diseases is the primary factor driving the market growth over the period. Growing considerable research and development activities by the key players tend to the introduction of new products. The increasing occurrence rate of diseases and having awareness about critical limb ischemia are fuelling the market growth globally. Nearly 17.9 million died of cardiovascular diseases, which accounts for 31% of deaths worldwide. In the U.S., around 4,300,000 people had critical limb ischemia, and half of the population is diagnosed with peripheral artery diseases in 2016.
Increasing cases of diseases and disorders like peripheral arterial disease, cerebrovascular disease, cardiovascular disease, and rheumatic heart disease in people due to unhealthy lifestyles are offering opportunities for the growth of the atherectomy devices market. The research activities have been escalated in the atherectomy in recent times due to technological advancements leading to the development of innovative products that are anticipated to provide numerous opportunities across the world over the forecast period. Increasing demand for minimally invasive surgical devices and procedures due to benefits associated with them, such as reducing the recovery span and procedure time, eliminating or limiting the risk of complications and infections, is expected to offer lucrative growth opportunities atherectomy market across the world over the forecast.
The unavailability of experienced professionals to operate atherectomy devices is the major challenge expected to retardate the growth of the atherectomy devices market. Also, stringent policy-making is slowing down the growth of the global atherectomy devices market.
Impact of COVID-19 on the global atherectomy devices market:
The SARS-CoV-2 reagent is responsible for the new coronavirus (COVID 19), and the World Health Organization declared pandemic as a public emergence health issue. The medical device sales over the industry will drop by an average of 30% to 40% up till the economy commence to restart, and hospitals start to resume elective procedures. In 2020, the atherectomy devices market size got a slight downfall because of COVID 19 pandemic crisis. While the consumer and pharmaceutical businesses are increasing enormously, the medical devices sector is sensing the crush from COVID 19. The crisis period affects the medical devices used to treat peripheral vascular devices, including PTA balloon catheters, stents, and vascular grafts. The American College of Surgeons (ACS) has recently established some guidelines for organizing vascular surgery patients, advising to postpone the non-emergency peripheral vascular procedures. Among the regions that are seriously affected by COVID 19, vascular processes have been reduced to life-to-limb recovering cases owing to new government directives and principles. The mentioned factor is to keep the hospital beds and healthcare providers available for COVID 19 patients to safeguard them and decrease the viral transmission among the patients and between patients and staff.
Market Size Available
2019 to 2025
2020 to 2025
By Type, Application, End-User, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
The Global Atherectomy Devices market has been segmented based on Type, Application, End-User, and Region.
Atherectomy Devices Market – By Type:
Within these, the directional atherectomy segment has contributed to the significant share to the market and is continually expanding as it enhances efficiency and a cost reduction of treatment. A product such as Turbohawk and Silverhawk developed by Medtronic has been highly successful. They have contributed a vital share to the market, with the emergence of such products in the directional atherectomy segment is likely to stay dominant in the forecast period.
Atherectomy Devices Market – By Application:
Based on the application, the peripheral segment is projected to have profitable growth throughout the forecast period. Factors like lifestyle changes, standard increase of peripheral vascular diseases, and demand for minimally invasive procedures, particularly in hospitals with advanced medical devices, fuel the segment's growth over the analysis period.
Atherectomy Devices Market – By End-User:
The hospital segment is accounted for to contribute a significant share in the market based on the end-user. It is estimated to have the highest CAGR, which is due to the growing acceptance of atherectomy for heart-related and peripheral vascular diseases.
Surgical centers are expected to contribute towards the atherectomy market over the analysis period in terms of revenue, with the highest CAGR of 6.6%.
Atherectomy Devices Market – By Region:
Regionally, North America is expected to have the largest share in the Global Atherectomy Devices Market. Factors such as increasing availability of reimbursements for atherectomy systems, adopting atherectomy systems among medical professionals, and the large patient population of peripheral & coronary artery diseases are fuelling the North American market. An increasing number of clinical trials (that aim to evaluate the therapeutic efficacy of atherectomy systems in specific disease treatment) drive the growth of the North American atherectomy devices market.
North America is expected to dominate the atherectomy market during the period with the launch of reimbursement policies and approving innovative products. The U.S. is a leading country in this region, followed by Canada, with over 50%.
On the other hand, Europe is expected to hold the second-largest share in the atherectomy devices market over the regional period owing to increasing healthcare infrastructure and different steps taken by the government and non-government organizations.
Asia-Pacific is expected to have the fastest growth in atherectomy devices over the period. Unhealthy lifestyle changes, socioeconomic changes, smoking, and alcohol intake boost market growth over the foreseen period. Moreover, increasing the acquisition of atherectomy devices in the medical field and the rising accessibility of damages for these devices fuel the market in this region. China is the leading and dominating country of this region, followed by Japan and India.
Atherectomy devices of the Latin America region are expected to showcase substantial growth in the analysis period, which owes to developing economies in countries like Brazil and Mexico. This region's growth is due to the sudden increase in high-risk old age population and common lifestyle-related illness, which help in the growth of the market.
Middle East & Africa is expected to hold the least share in the global atherectomy devices market over the review period. The growth of this region owes to the appearance of economically diverse countries and increasing knowledge about the atherectomy devices in the medical profession.
KEY MARKET PARTICIPANTS:
Notable companies in leading the Global Atherectomy Devices Market profiled in this report are Bayer HealthCare, C. R. Bard, Inc., Cardinal Health (Cordis), Avinger, Inc., Boston Scientific Corporation, Straub Medical AG, St. Jude Medical, Cardiovascular Systems, Inc., and Spectranetics.
NOTABLE HAPPENINGS IN THIS MARKET IN THE RECENT PAST:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.5 Y-o-Y Growth Analysis, By Type
5.1.6 Market Attractiveness Analysis, By Type
5.1.7 Market Share Analysis, By Type
5.2.5 Y-o-Y Growth Analysis, By Application
5.2.6 Market Attractiveness Analysis, By Application
5.2.7 Market Share Analysis, By Application
5.3 End User
5.3.3 Surgical Centers
5.3.4 Research Laboratories
5.3.5 Academic Institutes
5.3.6 Y-o-Y Growth Analysis, By End User
5.3.7 Market Attractiveness Analysis, By End User
5.3.8 Market Share Analysis, By End User
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Type
18.104.22.168 By Application
22.214.171.124 By End User
6.1.4 Market Attractiveness Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Type
184.108.40.206 By Application
220.127.116.11 By End User
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Application
188.8.131.52 By End User
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Bayer HealthCare
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 C. R. Bard, Inc.
8.3 Cardinal Health (Cordis)
8.4 Boston Scientific Corporation
8.5 Straub Medical AG
8.6 St. Jude Medical
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures