Clot Management Devices Market Size, COVID19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1088
Clot Management Devices Market size is expected to witness significant growth over 2021-2027, owing to escalating prevalence of chronic ailments such as stroke and heart attacks. Percutaneous devices are rapidly taking over from open surgical procedures as the preferred clot management solutions, in recent years, given the rising healthcare awareness across the globe.
One of the key trends driving the market expansion is the rising investment interest towards the advancement of healthcare facilities worldwide. Studies suggest that there were nearly 1,300 equity investments towards healthcare firms in the second quarter of 2020, with tech-oriented companies at the forefront. This is poised to open up lucrative opportunities for the makers.
Catheter-directed thrombolysis (CDT) devices are gaining rapid traction as effective clot management solutions, given the rising prevalence of PE (acute pulmonary embolism), particularly among elderly populations. PE is a major cause for mortality and morbidity in patients over the age of 65 years. The use of CDT devices to treat submissive PE in these patient populations is growing rapidly, since the use of systemic thrombolysis increases the risk of bleeding among these patients.
From a regional standpoint, the North America clot management devices market is predicted to emerge as a major revenue pocket by 2027, as a result of robust healthcare infrastructure and favorable compensation policies in the region. Furthermore, the increasing burden of cardiac patients is contributing to medical devices demand. Stroke, for instance, accounts for almost 140,000 fatalities in the U.S. per year.
In light of this, CERENOVUS, a Johnson & Johnson Medical Devices Companies division, introduced new CERENOVUS Stroke Solutions, a suite of three devices built specifically to aid in clot removal procedures. This included the EMBOTRAP III Revascularization Device, a next-gen stent retriever, designed to address various types of clots, enhance procedural confidence and deliver robust options tailored to achieve FPE (First Pass Effect).
The market revenue is strengthened by the presence of notable entities such as Teleflex, Boston Scientific Corporation, iVascular, Edwards Lifesciences, LeMaitre Vascular, Medtronic Plc, Vascular Solutions (Teleflex) and Straub Medical (Becton, Dickinson and Company). Proliferating R&D investments, innovative product launches, etc. are some of the major initiatives being taken by the companies to maintain a strong position in the competitive market.
To illustrate, health technology leader Royal Philips launched a new innovative mechanical thrombectomy system, dubbed QuickClear in September 2020. The single-use, compact system was designed as an all-in-one catheter and pump solution for blood clot removal from vessels of peripheral venous and arterial systems.
Meanwhile, Penumbra Inc. announced the next phase in its vascular franchise growth plan, with the commercial availability of its Indigo System Lightning 12 in the U.S. The next-generation aspiration system for peripheral thrombectomy brings together Lightning Intelligent Aspiration with the novel Indigo System CAT12 Aspiration Catheter, allowing physicians to concentrate on the optimization of thrombus removal, via the unique clot detection functionality of the system.
Impact of rising thrombotic risk due to COVID-19 on clot management devices market
The COVID-19 disease caused by the SARS-CoV-2 virus has triggered a massive crisis across the globe, posing a threat to both human as well as economic health. The coronavirus infection is associated with a number of acute respiratory and other conditions with varying degrees of severity across populations, from mild flu-like symptoms to potentially fatal conditions including multiple organ failure. According to some emerging studies, the COVID-19 disease is also said to result in blood clots in nearly 30% of critically ill patients.
While the disease is asserting devastating impacts on the global healthcare scenario, this growing risk of blood clots among COVID-19 patients could increase clot management devices demand. Various regulatory bodies are taking heed of the rising thrombotic risk and issuing favorable policies to counteract this issue. For instance, in January 2021, the U.S. FDA announced the waiving of premarket notification requirements for blood clot detection devices designed to monitor COVID-19 patients at high risk for blood clotting.
What Information does this report contain?
Customize this Report
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability