(I-BusinessNews.Com, July 17, 2021 ) According to research report the Thrombectomy Devices Market is expected to reach USD 1.45 Billion by 2022 growing at a CAGR of 6.7%.
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A number of factors such as growing target patient population, rising demand for minimally invasive thrombectomy procedures, ongoing technological advancements, favorable medical reimbursements and increasing healthcare expenditure across emerging markets are driving the growth of the thrombectomy devices market.
On the basis of application, the global thrombectomy devices 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.
On the basis of type, the global thrombectomy procedure 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 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.
Stryker Corporation (U.S.), Medtronic Plc (U.S.), Boston Scientific Corporation (U.S.), Penumbra, Spectranetics Corporation (U.S.), Edwards Lifesciences Corporation (U.S.), Inc. (U.S.) Johnson & Johnson (U.S.), Terumo Corporation (Japan), 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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On the basis of region, North America accounted for the largest share of the market in 2017, while Asia-Pacific is projected to register the highest CAGR during the forecast period. 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.
Key Questions
> What are the business growth strategies adopted by key market players to maintain their market position across key geographies?
> What is the existing developmental pipeline of major thrombectomy technologies aqmong Medtech manufacturers as well as academia?
> Growing number of minimally invasive procedures is a key trend in clinical management. What impact MIS procedures will have on thrombectomy devices market during the forecast period?
> What alternative technologies/therapies are currently being used for clot management worldwide? What competition they pose for key market players.
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