The atherectomy devices market is expected to register a CAGR of 8.10% during the forecast period of 2022 to 2030, with an estimated market value of 1.09 billion in 2017. Atherectomy is a minimally invasive endovascular surgery technique. Atherectomy devices, such as catheters are used to remove atherosclerosis from the blood vessels.
The rising demand for minimally invasive technologies, coupled with the increase in the coronary and peripheral arterial diseases is expected to drive the growth of the market. Also, the high efficiency rate of the atherectomy devices is estimated to boost the growth of the intraocular lens market. According to the data published in 2015 by the Centers for Disease Control and Prevention (CDC), about 7,35,000 Americans have a heart attack annually. Factors such as post-operative complications, and lack of skilled medical professionals are limiting the growth of the market.
Moreover, major companies in the market are involved in new product launches to strengthen their position in the market. For instance, in June 2018, Biomerics, a medical device contract manufacturer announced the acquisition of FutureMatrix Interventional, Inc. The company aims to expand its portfolio of interventional catheters used in cardiovascular and urology fields, thus strengthening its position in the market.
The atherectomy devices market is segmented on the basis of product type, application, and end user.
The atherectomy devices market, by product type is categorised into directional atherectomy systems, orbital atherectomy systems, photo-ablative (laser) atherectomy systems, rotational atherectomy systems, and others.
The directional atherectomy systems segment is expected to hold the largest share owing to the high treatment rate, whereas the photo-ablative (laser) atherectomy systems is expected to be the fastest growing segment owing to the growing preference by surgeons.
Based on application, the atherectomy devices market is segmented into cardiovascular, neurovascular, peripheral vascular, and others.
On the basis of end user, the market is segmented into hospitals, ambulatory surgery centers, and others.
On the basis of region, the market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas is sub-segmented into North America and Latin America. The North American region is further segmented into the US and Canada. The European region is divided into two, namely, Western Europe and Eastern Europe. Western Europe is further classified into Germany, Italy, France, the UK, Spain, and the rest of Western Europe. The Asia-Pacific region is sub-segmented into Japan, China, India, Australia, South Korea, and the rest of Asia-Pacific. The atherectomy devices market in the Middle East and Africa has been segmented into the Middle East and Africa.
Regional Market Summary
It is projected that the Americas dominated the atherectomy devices market owing to the growth of the market in the North American region. This is largely attributed to the factors such as increase in research funding, and growing awareness about the high-end atherectomy devices among medical professionals. Europe is expected to hold the second largest share in the market owing to growing healthcare infrastructure. Additionally, various initiatives by public and private organizations is anticipated to boost the growth of the market. Asia-Pacific was projected to be the fastest growing region for the market. This owes to the technological advancements resulting in the development of cost-effective atherectomy devices leading to high acceptance rate for the devices in the Asia-Pacific region. The Middle East and Africa holds the least share in the atherectomy devices market due to the presence of economically diverse countries, and less initiatives taken by the government.
Market of Atherectomy Devices, by Product type
Market of Atherectomy Devices, by Application
Market of Atherectomy Devices, by End User
Market of Atherectomy Devices, by Region
Atherectomy devices market, Key Players
|Market Size||2030: Significant value|
|CAGR||8.10% (2020 - 2030)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product Type, Application, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Abbott, Avinger, Cardinal Health, B. Braun Melsungen AG, Biomerics, Biotronik, Boston Scientific Corporation, C.R. Bard, Koninklijke Philips, Minnetronix, Inc., Straub Medical|
|Key Market Opportunities||Strategic collaborations, product launches, strategies undertaken by key players in the market|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Atherectomy Devices Market is projected to grow at a 8.10% CAGR between 2022-2030.
Americas are expected to spearhead the Atherectomy Devices Market.
Increasing prevalence of peripheral and coronary arterial diseases and growing demand for minimally invasive technologies is driving market growth.
Lack of skilled medical experts and post-operative complications may deter market growth.
Key competitors in the Atherectomy Devices Market include Straub Medical, Minnetronix, Inc., Koninklijke Philips, C.R. Bard, Boston Scientific Corporation, Biotronik, Biomerics, B. Braun Melsungen AG, Cardinal Health, Avinger, and Abbott.