Thrombectomy Procedure Market worth $1.45 Billion by 2022

 


(I-BusinessNews.Com, October 16, 2020 ) According to research report the global Thrombectomy Procedure Market is expected to reach USD 1.45 Billion by 2022 growing at a CAGR of 6.7%.

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On the basis of end users, the global thrombectomy procedure market is segmented into hospitals & surgical centers, ambulatory surgical centers, research laboratories & academic institutes, and other end users. The highest CAGR of the ambulatory surgical centers segment is mainly attributed to increasing availability of reimbursement for thrombectomy procedures in outpatient settings, ongoing advancements in minimally invasive surgical techniques, increasing number of image-guided surgeries performed at ASCs, and rising market demand for miniaturized therapeutic devices.

On the basis of geography, this market is classified into four regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World. In 2016, the global thrombectomy procedure market was dominated by North America; mainly due to significant adoption of technologically advanced thrombectomy products, growing number of clinical trials, and significant medical reimbursement available in the U.S. for thrombectomy procedures.

On the basis of type, the global thrombectomy devices market is segmented into aspiration, mechanical/fragmentation, rheolytic/hydrodynamic, and ultrasonic thrombectomy devices. The mechanical/fragmentation thrombectomy devices segment accounted for the largest share of the market in 2016. This large share is attributed to the ongoing commercialization of mechanical thrombectomy products, favorable reimbursement scenario, established therapeutic efficacy, growing market demand for stent retrievers among medical professionals, and rising end-user preference for minimally invasive thrombectomy procedures.

On the basis of application, the global thrombectomy procedure market is segmented into neurovascular, cardiovascular, and peripheral vascular applications. The cardiovascular applications segment accounted for the largest share of the market in 2016. The large share of this segment is attributed to the increasing prevalence of cardiovascular diseases, procedural benefits offered by mechanical thrombectomy in cardiac surgeries, higher prevalence of thrombotic diseases among geriatric individuals, and growing preference of surgeons for image-guided and minimally invasive cardiac surgeries.

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However, Asia-Pacific Thrombectomy Procedure Market is expected to grow at the highest CAGR during 2017-2022. This is primarily due to the presence of large target patient population, increasing healthcare expenditure, increase in localized manufacturing & strengthening of distribution networks, and rising awareness among surgeons related to the benefits offered by thrombectomy devices.
In 2016, Stryker Corporation (U.S.), Medtronic Plc (U.S.), Boston Scientific Corporation (U.S.), Penumbra, Inc. (U.S.) Johnson & Johnson (U.S.), Terumo Corporation (Japan), Spectranetics Corporation (U.S.), Edwards Lifesciences Corporation (U.S.), Argon Medical Devices, Inc. (U.S.), and Teleflex Incorporated (U.S.) are some of the key players in thrombectomy devices market.

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