Atherectomy Devices Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Japan, China, India, Australia, South Korea, Mexico, Brazil, Saudi Arabia, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024
Report ID: GMI2769
Atherectomy Devices Market size is expected to grow significantly from 2018 to 2024.
Atherectomy devices market size is anticipated to grow due to increasing cases of peripheral arterial diseases globally; as reported by CDC, in U.S. alone, there were around 8.5 million people suffering from peripheral arterial diseases (PADs) in 2016. Increasing prevalence of lifestyle associated diseases has elevated the number of people suffering from PADs, which in turn is influencing the market growth.
Furthermore, various technological advancements integrated in the devices have increased the adoption rates of atherectomy devices amongst the surgeons stimulating the business growth. Poor success rates of angioplasty and other related surgeries have forced the manufacturing companies to invest in R&D to innovate new devices that enhance the surgical performance; thus, boosting the industry growth. For instance, Avinger Inc. received approval for an improvised version for Pantheris lumivascular atherectomy system for treating patients suffering from PADs. The additional advantages of new version such as improved features and ergonomics are responsible for rapid adoption.
Besides having enormous growth opportunities, the market can be affected by high costs of the atherectomy devices used for treatments. Innovations in the devices enabled by advanced technology have elevated the costs of the devices thereby will hamper its demand over the forecast timeframe.
Laser atherectomy devices market will hold largest share in the market owing to rapidly increasing adoption of the same for treatment of PADs. Efficiency related advantages of these devices should boost their demand over the forecast period. For instance; laser devices enable operational efficiency and helps in reducing the costs of the surgical procedures as embolic protection is not requires that was otherwise required while utilizing the conventional devices.
Application of atherectomy in cardiovascular healthcare industry should increase during the projection years due to increasing cases of cardiac diseases such as ischemic heart disease, cerebrovascular disease and rheumatic heart disease. In U.S., there are around 5 million people that are affected with cardiovascular diseases that increase the demand for atherectomy devices, thereby surging the industry growth.
Hospitals businesses related to atherectomy will witness high growth due to growing cases of periphery arterial diseases in developed as well as developing countries because of rising lifestyle associated disorders. In U.S., 500,000 coronary bypass surgeries were performed in 2016 making the market growth evident across the region.
U.S. atherectomy market is mostly to dominate the global market over the forecast period, owing to rapidly increasing application of various atherectomy devices. Around 46 million people are in the age group of around 65 years and majority of them suffer from blood pressure and cardiovascular diseases. Moreover, developed healthcare infrastructure will ensure availability of superior quality medical services, thereby contributing to industry expansion.
Germany atherectomy market should witness lucrative growth opportunities due to advancements in technology enabling improvement in performance of atherectomy devices. For instance, developments in the laser and orbital atherectomy devices that allows specific and accurate diagnosis during surgical procedures have proven beneficial for the industry growth.
Some of the key industry players are Avinger, Boston Scientific, Cardiovascular Systems, Medtronic Plc, Philips, Spectranetics and Terumo. Strategic initiatives such as mergers, acquisitions and new product launches have helped these companies to evolve as key industry player with high revenue shares. For instance, in April 2015, Cardiovascular Systems received FDA approval for Solid Diamondback 360 Peripheral Orbital Atherectomy System (OAS). Addition of such new products to the portfolio will render company with competitive advantage.
Atherectomy Devices Market by Device, 2013-2024 (USD Million)
- Directional atherectomy
- Rotational atherectomy
- Orbital atherectomy
- Laser atherectomy
Atherectomy Devices Market by Application, 2013-2024 (USD Million)
- Cardiovascular atherectomy
- Neurovascular atherectomy
- Peripheral atherectomy
Atherectomy Devices Market by End-use, 2013-2024 (USD Million)
- Ambulatory surgical centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
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