Atherectomy Devices Market Reach Significant CAGR Value Of 6.7% By 2028
New York City, NY: Sept 12, 2019 – Published via (Wired Release) – Atherectomy devices are the devices which are specified for removing the thrombus and plaque from various contaminated pathways. Atherectomy devices are useful in active and actual treatment of both peripheral arterial and coronary disease.
The first five-year cumulative revenue (2018–2022) is projected to be nearly US$ 5.8 Bn, which is expected to increase significantly over the latter part of the five-year forecast period. The global atherectomy devices market is estimated to value at over US$ 1.1 Bn in 2019, and is expected to register a CAGR of 6.7%.
Global Atherectomy Devices Market: Market Dynamics
Increasing occurrence of cardiovascular diseases due to usage of unhealthy diet, tobacco coupled with increasing geriatric population and rising spending capacity of individuals in developing countries are among some of the major factors expected to drive overall growth of the global atherectomy devices market. Rapid development in the healthcare sector, rising awareness regarding benefits of atherectomy systems such as less revascularization rates, high efficiency, and short procedure time.
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However, presence of alternative procedures such as bypass surgery, thrombolytic therapy, angioplasty, endarterectomy, and balloon angioplasty, coupled with high cost for procedure. Lack of experienced or well-trained surgeons to conduct atherectomy procedures is a major factor that could hamper adoption of these processes. Under-developed medical infrastructure in many developing and under-developed countries. Stringent regulations for product approvals and numerous cases of product failure are major factors expected to hamper growth of target market to a certain extent over the forecast period.
Global Atherectomy Devices Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global atherectomy devices market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global atherectomy devices market is expected to expand at a CAGR of 6.7% over the forecast period.
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Global Atherectomy Devices Market: Segmental Snapshot
The market report has been segmented on the basis of product type, application, end user, and region. The product type segment includes directional atherectomy, rotational atherectomy, orbital atherectomy, and laser atherectomy. The application segment includes cardiovascular, neurovascular, and peripheral vascular. The end user segment includes hospitals & surgical centers, ambulatory care centers, and research laboratories & academic institutes. The regions covered in the analysis include North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
By Product Type: The directional atherectomy segment is expected to account for highest revenue share contribution as compared to other product type segments. The laser atherectomy segment is expected to register a highest CAGR of over 7.0% over the forecast period.
By Application: The peripheral vascular segment is expected to account for highest revenue share contribution, and is expected to register highest CAGR of over 6.6% over the forecast period.
By End User: The hospitals and surgical centers segment is projected to account for highest revenue share, and register a CAGR of over 6.6% over the forecast period
By Region: The market in North America accounted for highest revenue share in the global atherectomy devices market in 2018. The market in Asia Pacific is projected to register highest CAGR of over 6.9% in the global market over the forecast period.
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Global Atherectomy Devices Market: Competitive Analysis
The research report on the global atherectomy devices market include profiles of some of major companies such as Abbott Laboratories., Avinger., B. Braun Group., Biomerics., Biotronik., Boston Scientific., C.R. Bard, Cardinal Health, Cardiovascular Systems, Koninklijke Philips, Medtronic, Minnetronix, Inc., RA Medical Systems, Straub Medical, and Terumo Corporation.
The Global Atherectomy Devices Market: Industry, Size, Share, Growth, Trends, and Forecast, 2019–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global atherectomy devices market for 2018–2028.
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