According to the latest report by IMARC Group, titled “Atherectomy Devices Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2022-2027”, The global atherectomy devices market size reached US$ 877 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,202 Million by 2027, exhibiting a growth rate (CAGR) of 5.2% during 2022-2027.
Atherectomy devices refer to minimally invasive (MI) instruments that are utilized for removing plaque and thrombus from diseased arteries. They are widely used for effectively treating both coronary and peripheral arterial diseases. Usually consisting of a rotating blade within a tubular catheter attached to a battery-operated motor, they commonly assist in re-establishing the blood flow in arteries by drilling, shaving, grinding, sanding and vaporizing plaque and calcifying lesions or excessive cellular materials. As a result, these devices are extensively used for various applications across hospitals, clinics, surgical centers and ambulatory care centers.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends:
The market is primarily driven by the increasing incidences of peripheral artery diseases (PADs) and coronary artery diseases (CADs) on the global level, along with numerous other medical ailments, such as obesity, diabetes, cardiovascular disorders and atherosclerosis. Since atherectomy devices are widely used in the treatment of these medical conditions, this is providing a thrust to the market growth. Along with this, there has been a considerable rise in the geriatric population, who are more likely to suffer from numerous chronic conditions, which is acting as a major growth-inducing factor. The growing preference for minimally invasive (MI) surgeries among both the patients and the healthcare professionals due to the lesser risks and improved outcomes associated with these procedures is acting as another key factor contributing to the market growth.
Furthermore, the market is driven by the increasing usage of drug-coated balloons (DCB) in atherectomy procedures, along with the directional atherectomy with anti-restenosis therapy (DAART) to improve the patency in long lesions as well as lesions with severe calcifications. Other factors driving market growth include an increase in strategic mergers and acquisitions (M&As) by players and significant improvements in overall healthcare infrastructure. On account of the aforementioned factors, the market is expected to grow at a CAGR of 5.2% during 2022-2027.
Global Atherectomy Devices Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Competitive Landscape Key Player:
- Abbott Laboratories
- Avinger
- Braun Group
- Biomerics
- Biotronik
- Boston Scientific
- R. Bard (BD)
- Cardinal Health
- Koninklijke Philips
- Medtronic
- Minnetronix Inc.
- Straub Medical AG (BD)
- Terumo Corporation
The report has segmented the market on the basis on region, product, application and end user.
Breakup by Product:
- Directional Atherectomy Devices
- Orbital Atherectomy Devices
- Photo-Ablative Atherectomy Devices
- Rotational Atherectomy Devices
- Support Devices
Breakup by Application:
- Peripheral Vascular
- Cardiovascular
- Neurovascular
Breakup by End User:
- Hospitals
- Ambulatory Surgery Centers
- Research Laboratories and Academic Institutes
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
Comprehensive Mapping of the Competitive Landscape
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