Atherectomy Devices Market To Rise at a 6.2% CAGR from 2021 to 2027: Know More Why | Coherent Market Insights
The global Atherectomy Devices Market by Device Type (Laser Atherectomy Devices, Orbital Atherectomy Devices, Directional Atherectomy Devices, and Rotational Atherectomy Devices), by Application (Peripheral Vascular, Cardiovascular, and Neurovascular), by End User (Medical Institutes, Hospitals, and Ambulatory Surgical Centers) and by Region (North America, Asia Pacific, Latin America, Europe, the Middle East, and Africa) had a market valuation of US$ 504.5 million in 2016 and is anticipated to grow at a CAGR of 6.2 percent during the forecast period (2017 – 2025).
The frequent approval of innovative rotational atherectomy equipment by major regulatory agencies in key regions is expected to be the main driving force for the growth of the rotational atherectomy equipment market. In 2015, Specranetics’ TurboPower laser atherectomy catheter was approved by the FDA, which indicated that it was an atherectomy device for the treatment of intestinal restenosis. In 2017, Avinger, Inc. received Conformité Européenne (CE) brand approval for the Next Generation Pantheris Lumivascular Plate Resection System. In 2017, Ra Medical Systems launched the DABRA Plaque Resection System in Northern Europe. In 2015, Medtronic launched its HawkOne directional atherectomy system for the treatment of peripheral arterial disease. Multiple approvals and releases of these innovative devices are projected to aid growth of the global atherectomy devices market.
Browse 36 Market Data Tables and 40 Figures spread through 186 Pages and in-depth TOC on Vascular Closure Device by Device Type (Laser Atherectomy Devices, Orbital Atherectomy Devices, Directional Atherectomy Devices, and Rotational Atherectomy Devices), by Application (Peripheral Vascular, Cardiovascular, and Neurovascular), by End User (Medical Institutes, Hospitals, and Ambulatory Surgical Centers) and by Region (North America, Asia Pacific, Latin America, Europe, the Middle East, and Africa) – Global Forecast to 2025.
In recent years, the market has witnessed multiple mergers and acquisitions, which have helped leading companies acquire their plaque removal equipment product portfolio, thereby consolidating their position in the global atherectomy devices market. In 2014, Boston Scientific acquired Bayer’s intervention business. The acquisition includes the AngioJet Thrombectomy System, the Fetch 2 Suction Catheter, and the JetStream Plaque Resection System. The JetStream Plaque Resection System is used to remove plaque and thrombi in diseased arteries. In 2014, Medtronic acquired Covidien to expand the product portfolio of plaque removal equipment. After this purchase, Medtronic became the sole owner of major plaque removal equipment such as HawkOne and TurboHawk.
Due to frequent approval of innovative products by regulatory agencies in key regions, the global plaque removal equipment market is expected to grow at a compound annual growth rate of 6.2% over the forecast period (2017-2025).
North America is expected to continue to dominate during the forecast period (2017-2025), due to the launch of the new atherectomy device in the region. In recent years, the global atherectomy devices market has witnessed the launch of multiple new products and the approval of new products by the FDA. As leading companies continue to engage in research and development to develop high-efficiency technology products, this trend is expected to continue throughout the forecast period.
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Major players such as Medtronic and Boston Scientific are targeting the inorganic growth model by acquiring competitors or rival business units related to plaque removal equipment. As more and more start-ups enter the field, competition in the market becomes increasingly fierce and the frequency of mergers and cooperation may increase in the coming years.
The growing incidences of cardiovascular disease globally is also projected to propel the demand for atherectomy equipment, which in turn creates a profitable environment for market growth in the near future.
Major Key Players Include In Atherectomy Devices Market: Medtronic plc, Koninklijke Philips N.V., Cardiovascular Systems, Inc., Boston Scientific Corporation, Avinger, Inc, C. R. Bard, Inc, Cardinal Health, Inc., Minnetronix, Inc., Straub Medical AG, and Biotronik.
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