Global Atherectomy Devices Market Growth driven by High Preference for Minimally Invasive Procedures |Revenue, Demand, Business Opportunities by 2023
Jun 11, 2019
The report provides an in-depth analysis of regional data with Growth Potential, Opportunities, Drivers, Industry-Specific Challenges
Pune, India - June 11, 2019 /MarketersMedia/ —
The worldwide Atherectomy devices market is likely to develop remarkably over the forecast period. It is projected that the global atherectomy devices market will register a CAGR of 6.12% over the forecast period of 2018–2023. In 2017, the estimated market value was around 1.09 billion.
Atherectomy is a technique applied to eliminate atherosclerotic plaque from affected arteries. The plaques are in either peripheral or coronary arterial vasculature and may have distinct characteristics depending on the nature of the plaque. Atherectomy is used widely in cure of both peripheral and coronary arterial ailments. It is a minimally invasive endovascular surgery.
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Atherectomy devices are built to either shave, cut, vaporize, laser or sand the plaques. The devices come with different indications. Different atherectomy devices have been invented for commercial use. The location of the plaque and type of blockage influence the choice of atherectomy device to be used. Some atherectomy devices are used only in the larger arteries on the upper portion of the knee, while other devices come with smaller catheters that are suitable for operating the arteries below the knee.
The growing rate of peripheral and coronary arterial diseases coupled with increasing demand for minimally invasive techniques is predicted to boost the growth of the atherectomy devices market. Minimally invasive surgical techniques deliver quicker recovery, quick procedural time, lesser risk of infections and complications. The worldwide atherectomy devices market is likely to witness noteable surge in demand due to exponential growth in the incidence of lifestyle-related ailments and elderly population.
Market Segmentation
The global atherectomy devices market is segmented based on application, end user, and product type.
Based on application, atherectomy devices market is segmented into peripheral vascular, cardiovascular, neurovascular, and others.
Based on end user, the market is segmented into ambulatory surgery centers, hospitals, and others.
Based on product type, the market is segmented into orbital atherectomy systems, directional atherectomy systems, rotational atherectomy systems, photo-ablative (laser) atherectomy systems, and others.
Regional Analysis
The Americas are likely to dominate the worldwide atherectomy devices market owing to the rapid development of the North America market. Factors such as rise in research investment and growing awareness about the high-end atherectomy devices amongst medical practitioners are expected to influence the global atherectomy devices market positively. Europe will probably have the second largest share in the atherectomy devices market owing to the advancement of healthcare industry. Furthermore, different initiatives by private and public firms are likely to surge the growth of the atherectomy devices market. Asia-Pacific has been identified as the fastest developing market for the global atherectomy devices. The technological innovations witnessed in manufacturing cost-effective atherectomy devices are expected to lead the growth of the market in the Asia-Pacific region. The Middle East and Africa has the smallest share in the worldwide atherectomy devices market owing to limited initiatives taken by the government and the presence of diverse economies.
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Key Players
The worldwide Atherectomy devices market is ruled by key players such as Avinger, Abbott, B. Braun Melsungen AG, Cardinal Health, Biotronik, Biomerics, C.R. Bard, Boston Scientific Corporation, Minnetronix, Inc., Koninklijke Philips, and Straub Medical.
Industry Insights
Of late, Eximo Medical has launched its B-Laser Atherectomy System to treat patients suffering from arterial occlusive peripheral arterial ailment. A step-by-step approach was followed during the launch of the system for treatment of patients who have highly complicated, arterial occlusive peripheral arterial disease. The approach follows a standard B-Laser catheter technique coupled with the atherectomy device applying the same catheter that is used with usual guidewires. This step is likely to drive the demand for minimally invasive surgery techniques. Consequently, the worldwide atherectomy devices market can also be expected to experience a boost.
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