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Published Date: 2017-09-22Number of Pages: 170

Atherectomy Devices Market (Device Type - Directional Atherectomy Devices, Rotational Atherectomy Devices, Orbital Atherectomy Devices, and Laser Atherectomy Devices; End User - Hospitals, Clinics, and Ambulatory Surgical Centers (ASCs); Application - Cardiovascular, Neurovascular, and Peripheral Vascular Atherectomy Devices) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2022

Global Atherectomy Devices Market: Snapshot

With the increasing incidence of peripheral artery diseases (PAD), the demand for atherectomy devices has increased substantially across the world. Over 250 million patients suffer from PAD, globally. During the period from 2000 to 2010, the prevalence of PAD rose by 24% and continues to increase at a significantly high rate, leading to a remarkable increase in the uptake of atherectomy devices.

In addition to this, since atherectomy is also a minimally invasive procedure, the rising preference for minimally invasive surgical procedures is likely to aid the global market for atherectomy devices remarkably in the years to come. The opportunity in this market is expected to touch US$558.9 mn by the end of 2017. Further, it is likely to expand at a CAGR of 5.60% during the period from 2017 to 2022 and attain a value of US$735 mn by 2022.
 

atherectomy devices market

Directional Devices to Remain Most Valued Product

Directional devices, rotational devices, orbital devices, and laser devices have surfaced as the key atherectomy devices across the world. On account of their early inception and high penetration, directional atherectomy devices have been dominating the global market. Various advantages of these devices, such as the ability of plaque debulking and availability in various sizes, are expected to keep their demand high over the next few years.

Atherectomy devices are primarily utilized in the treatment of cardiovascular, neurovascular, and peripheral diseases. These devices find most prominent usage in hospitals, clinics, and ambulatory surgical centers (ASCs). Hospitals have been registering a relatively higher demand for these devices across the world. Clinics and ASCs are also expected to report a healthy rise in the uptake of these devices in the years to come.

North America to Witness Continued Dominance

Spread across North America, the Middle East and Africa (MEA), Europe, Asia Pacific excluding Japan (APEJ), and Japan, the worldwide market for atherectomy devices has gain remarkable momentum over the last few years. With favorable reimbursement scenario, North America market for atherectomy devices has acquired the leading position in this market. The high number of the U.S. FDA approved atherectomy devices is also supporting this regional market considerably. The rising preference for minimally invasive procedures in this region is projected to push the North America market upward at a CAGR of 6.0% between 2017 and 2022, pointing towards the continual dominance of this regional market over the next few years. 

Creating an absolute opportunity of US$35.9 mn during the period of the forecast, Europe is anticipated to retain its second position in the global market. The presence of state-of-art medical and healthcare infrastructure in this region is likely to aid the Europe market for atherectomy devices in the years to come. Asia Pacific excluding Japan, however, will be observing a higher growth rate between 2017 and 2022 due to the increasing geriatric population. The socio-economic changes, which is encouraging manufacturers to setup their production units in this region, is also predicted to boost the market for atherectomy devices in Asia Pacific excluding Japan in the near future. 

The competition in the global market for atherectomy devices is very high and is expected to intensify in the near future. Boston Scientific Corp., Cardiovascular Systems Inc., Medtronic Plc, Spectranetics Corp., Terumo Corp., Avinger Inc., and Royal Philips NV are the leading vendors of atherectomy devices across the world.

Atherectomy Devices Market: Overview

The world atherectomy devices market has been prophesized to gain momentum owing to the soaring cases of peripheral artery diseases or PAD as it is conveniently called worldwide. It has been estimated that more than 250 million people have been affected with peripheral artery diseases across the globe. Over the time period that extends from 2000 to 2010, the occurrence of peripheral artery diseases increased by 24% and is expected to rise at a substantially high rate, resulting in an astounding growth in the adoption of atherectomy devices.

Furthermore, the procedure of atherectomy is minimally invasive and phenomenal rise in the increasing preference for such minimally invasive procedures is, in all likelihood, to bolster the world market for atherectomy devices.

The market for atherectomy devices is forecasted to reach US$558.9 mn towards the end of the year 2017. The market is expected to register a CAGR of 5.60% over the forecast timeframe that extends from the year 2017 to 2022 and the same is expected to obtain a market value of US$735 mn by the year 2022.

Taking vendor landscape into consideration, the market for atherectomy device can be regarded as significantly fragmented and the market players emphasize on strategically important acquisitions, mergers, collaborations and partnerships in a bid to strengthen their hold on the market.

Atherectomy Device Market: Trends and Opportunities

For the treatment of various peripheral, neurovascular, and cardiovascular diseases, atherectomy devices are mainly used. Ambulatory surgical centers or ASCs as it is conveniently called, clinics, and hospitals mostly make optimum use of atherectomy devices. More specifically, hospitals across the globe have been generating much higher demand for the said devices. Apart from the hospitals, it’s also the categories of ASCs and clinics that are forecasted to register a robust growth as a result of the increased adoption of these atherectomy devices in the coming years.

As noticed by the TMR analysts, increasing occurrences of peripheral artery diseases worldwide is prognosticated to boost the world atherectomy devices market. Furthermore, substantial expansion of the geriatric population across the globe has significantly increased the number of people who have been affected with peripheral artery diseases. This has eventually bolstered the demand for the said devices worldwide. It is also forecasted that the said market is expected to benefit significantly in the forthcoming years from the increasing preference of minimally invasive procedures of surgery.

Laser devices, orbital devices, rotational device, and directional devices all have emerged as the prominent atherectomy devices worldwide. The directional devices have been leading the world market owing to high market penetration and early inception.

Atherectomy device Market: Geography

The market research report also comes with geographical segmentations and analysis of the world market for atherectomy devices market. In accordance with the said study, the market extends across the regions of Japan, the Middle East and Africa (MEA), North America, Europe, and Asia Pacific excluding Japan (APEJ). Of all of these regions, North America has emerged as the one of the most dominating zones for the global atherectomy devices market. Availability of encouraging reimbursement facilities has further assisted the North American market significantly in the last few years.

Each and every regional classification has been thoroughly studied in this research publication with an aim to make an offering of a comprehensive, well-informed assessment of the market performance in various different geographies across the globe.

Atherectomy device Market: Company Profiling

The vendor landscape of this market for atherectomy devices is quite competitive and the same is foreseen to become more intense in the forthcoming years. The authors of this report have profiled some of the topnotch companies that are active in this market. Companies such as Cardiovascular Systems Inc., Medtronic Plc., Royal Philips NV, Avinger Inc., Boston Scientific Corp., Terumo Corp., and Spectranetics Corp. are some of the eminent vendors that adorn the global market for atherectomy devices.

For the purpose of this study, the market has been segmented as follows:

  • Global Atherectomy Device Market, by Devices
    • Laser devices
    • Rotational devices
    • Orbital devices
    • Directional devices
  • Global Atherectomy Device Market, by End-user
    • Hospitals
    • Clinics
    • Ambulatory surgical centers
  • Global Atherectomy Device Market, by Application
    • Cardiovascular
    • Neurovascular
    • Peripheral vascular
  • Global Atherectomy Device Market, by Geography
    • Middle East and Africa
    • North America
    • Europe
    • Asia Pacific except Japan 
    • Japan


 
 
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