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 the plaque which blocks the arteries or veins related to the heart.
The growing incidence of chronic diseases and technological advancements is majorly driving the growth of the global atherectomy devices to drive the 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 the 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 the 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.
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 atherectomy devices market.
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 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 owes to the growing acceptance of atherectomy for heart related and peripheral vascular disease.
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, adoption of 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% of it.
On the other hand, Europe is expected to hold the second-largest share in the atherectomy devices market over the regional period by 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 the atherectomy devices over the period. Unhealthy lifestyle changes, socioeconomic changes, smoking, and alcohol intake are boosting 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 a 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.
TOP COMPANIES IN THE MARKET
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.
RECENT MARKET HAPPENINGS
In Aug 2019, the Cardiovascular Systems expanded its product portfolio by acquiring WIRION Embolic Protection System and other assets from the Gardia Medical Ltd. the company has co-developed a laser atherectomy device which is used for treating various types of peripheral arterial diseases by collaborating with Aerolase Corp., and FDA approved the device in July 2018.
Boston Company has completed the acquisition of BTG in August 2019 for expanding their product line regarding the vascular devices.
In January 2019, Terumo IS Company has expanded its distribution network in Canada by opening a new unit in the region. For the expansion of the product portfolio, the Terumo Company has completed the acquisition of a large-bore vascular device from Medeon Biodesign inc., in March 2018.
Avinger inc. developed pantheris small vessel image-guided atherectomy system for which it had received the clearance from FDA in March 2019. With the extension of its product line in atherectomy devices, the market is likely to witness significant growth during the forecast.
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
220.127.116.11 By Geographical Area
18.104.22.168 By Type
22.214.171.124 By Application
126.96.36.199 By End User
6.1.4 Market Attractiveness Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Type
220.127.116.11 By Application
18.104.22.168 By End User
6.1.5 Market Share Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Type
188.8.131.52 By Application
184.108.40.206 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