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.
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.
Global Atherectomy Devices Market: Overview
The global market for atherectomy devices is highly dynamic. The continual advancements in technologies has been boosting this market significantly. With the increasing incidence rate of peripheral artery disease (PAD) among people across the world, the market is anticipated to continue its growth streak over the next few years.
The report estimates and forecasts the market on the global, regional, and country levels and provides forecast between 2017 and 2022. It comprises an in-depth value chain assessment for each of the product segments and offers a comprehensive view of the market. The value chain assessment also offers a detailed and thorough information regarding the value addition at each of the stages. It further offers an assessment of the influential factors that shape the performance of the global atherectomy devices market currently and in the forecast period. It also present key indicators that affect the growth of the market negatively.
Further, it analyzes the opportunities in the market on the global and regional level. The driving forces, restraining factors, and opportunities mentioned in the research study are justified through qualitative and quantitative data and have been verified using primary and secondary resources. Moreover, the substitute analysis of atherectomy devices and the analysis of the average price trend, globally, has also been included in this study.
Global Atherectomy Devices Market: Segmentations
The study provides a comprehensive view of the global market by assessing it on the basis of the type of devices, end user, application, and the geography. By the type of devices, the market is classified into directional devices, rotational devices, orbital devices, and laser devices. Based on the end user, the market is bifurcated into hospitals, clinics, and ambulatory surgical centers (ASCs). In terms of application, the market is categorized into cardiovascular, neurovascular, and peripheral vascular atherectomy devices. Regionally, the market is segmented into North America, the Middle East and Africa (MEA), Europe, Asia Pacific excluding Japan (APEJ), and Japan. These segments have been assessed on the basis of the present, historical, and future trends.
The report includes qualitative write-up on the market attractiveness analysis, in which the end users and countries have been evaluated on the basis of attractiveness for each of the regions. The growth rate, availability of raw materials, market size, profit margin, strength of the impact, competition between players, technology utilized, and various other environmental and legal factors have been evaluated in order to derive the general attractiveness of the market. The research report also examines the price trends for atherectomy devices between 2017 and 2022.
Global Atherectomy Devices Market: Competitive Analysis
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. The main players profiled in the report include Boston Scientific Corp., Cardiovascular Systems Inc., Medtronic Plc, Spectranetics Corp., Terumo Corp., Avinger Inc., and Royal Philips NV. The company profiles consist of various attributes, such as overview of the company, overview of the brand, business overview, key competitors, number of employees, recent developments, business strategies, tactical alliances, and the financial overview.
In-depth discussions and interviews with a number of market experts and industry participants have been conducted to for the compilation of this research report. The primary research represents a bulk of research efforts, supported with extensive secondary research. The product literature, press releases, annual reports, and relevant documents of key participants have been reviewed for the competitive analysis and the understanding of the market. The websites of the company, financial reports, broker reports, investor presentations, annual reports, and SEC filings are the main secondary research sources utilized in performing this research.