Thrombectomy Devices Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Competitive Market Growth & Forecast, 2021 – 2027
Report ID: GMI1902
Thrombectomy Devices Market size is projected to experience significant growth from 2017 to 2024.
Thrombectomy devices market size should witness significant growth due to growing demand for minimally invasive thrombectomy procedures coupled with increased patient population. Advancement in technology, favorable medical reimbursements and increasing healthcare expenditure in developing nations should further drive industry growth over the forecast period.
Ongoing research activities and wide application of ultrasound in vascular treatment should provide growth opportunities for industry players over the forecast timeframe. Lack of skilled professionals and complex use of such devices may restrain the thrombectomy devices market growth. Deep vein thrombosis and pulmonary embolism may remain underdiagnosed and are able to cause serious health problems, that can only be avoided through active lifestyle and increasing awareness.
Mechanical thrombectomy devices should contribute for significant revenue share. Ongoing commercialization of automated thrombectomy devices, favorable reimbursement scenario, well-developed therapeutic efficiency, and rising demand for stent retrievers from medical professionals are the major factors driving industry growth over the forecast period.
Cardiovascular disease is the major revenue generating application segment. The growth is attributed to increasing adoption of image-guided and minimally invasive cardiac surgeries among doctors, rising prevalence of CVDs, and advantages associated with mechanical thrombectomy in heart surgeries. World Heart Federation (WHF) is the global support and leading organization which brings together the CVD community to support people lead heart-healthy lives. It has official relation with the WHO, to decrease premature deaths occurred due to non-communicable diseases to 25% by 2025.
Ambulatory surgical centers are the most lucrative end use segment. Growing number of surgeries performed with image-guided, presence of favorable reimbursement for thrombectomy procedures, technological advancement in minimally invasive surgical methods and growing need for miniaturized therapeutic devices will expand the business over the forecast period.
U.S. thrombectomy devices market size should witness significant growth over the forecast period. The growth is attributed to increased acceptance of technologically advanced devices, presence of favorable medical reimbursement and rising clinical trials. The American Association of Heart Failure Nurses (AAHFN) is an organization involved in the advancement of clinical practice, research, and nursing education for the recovery of heart failure patient better outcomes. The association unites caregivers, professionals, and patients to support and improve practice of heart failure.
Germany should experience significant growth over the forecast period. The German Society for Muscular Dystrophy Association (DGM) funds research for the treatment of neuromuscular diseases. It is the largest self-help Muscular Dystrophy organization in the country. India should experience lucrative growth over the forecast period. Increasing R&D and geriatric population base coupled with prevalence of chronic diseases and peripheral arterial diseases (PAD) should drive thrombectomy devices market size over the forecast period.
Companies operating in thrombectomy devices market include Boston Scientific, The Spectranetics, Medtronic, Teleflex, Penumbra, AngioDynamics, Terumo, Johnson and Johnson, Stryker and Vascular Solutions. Companies are focusing on new product launch and mergers & acquisitions as their major strategies to gain revenue share in the coming years. In July 2016, Penumbra launched ACE 68 Reperfusion Catheter thrombectomy device in the U.S. for its commercial use. The catheter uses the current advancements available in the tracking technology and offer maximum aspiration power to extract thrombus in stroke patient. This should strengthen the product portfolio of Penumbra.
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