21-Oct-2022

In-Depth analysis of atherectomy devices market

Atherectomy is a surgical procedure that removes atherosclerosis/plaque from blood vessels in the body using a catheter with a sharp blade. It is essentially a minimally invasive endovascular surgical procedure done under local anesthesia. The concept of atherectomy is based on obtaining a significant lumen by removing plaque and calcified lesions from the artery, which aids in the restoration of artery blood flow. They are widely used in cardiovascular, neurovascular, and peripheral vascular applications. The worldwide atherectomy devices market was worth $1.02 billion in 2021 and will reach $2.01 billion by 2030, growing at a CAGR of 7.34% during 2021-2030.

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Key Industry Drivers

Increasing cases of CVD to boost the demand for atherectomy devices

Rising rates of cardiovascular disease (CVD) due to tobacco use, poor diet, and physical inactivity may lead to an increase in demand for atherectomy devices for CVD treatment. According to a study published by the Heart Foundation in 2020, 118 Australians die from CVD every day, or one every 12 minutes. This equates to 16.6% of the total Australian population suffering from CVD. Myocardial infarction and other conditions are examples of CVD, and atherosclerosis is thought to be a major cause of myocardial infarction. As a result, atherectomy devices are used to treat the rising condition, which will increase demand for the product during the forecast period.

Increasing incidence of peripheral arterial diseases and growing artery diseases

The market for atherectomy devices is anticipated to grow quickly as cases of peripheral artery disease (PAD) and coronary artery disease (CAD) increase. According to research, 2 million Americans are impacted by CADs and PADs each year. The incidence of PADs and CADs is increasing due to other factors such as smoking, diabetes, and hypertension. Devices for atherectomy are crucial for managing and treating peripheral artery disease (PAD). Compared to traditional treatments, the devices offer numerous benefits, including a lower risk of complications and greater comfort during surgeries.

Restraining factors

In the coming years, the market expansion is anticipated to be hampered by the limited awareness of disease diagnostics and therapies among people in developing nations. Furthermore, a shortage of skilled surgeons is expected to constrain market growth soon.

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Market Segmentation

By Type

Laser Atherectomy
Orbital Atherectomy
Rotational Atherectomy
Directional Coronary Atherectomy

In 2020, the laser product segment accounted for more than 27% of the atherectomy devices market revenue. Multiple advantages over mechanical systems, such as versatility, improved operability, and the elimination of the need for an embolic protection device, are expected to drive market revenue.

By Application

Cardiovascular Applications
Neurovascular Applications
Peripheral Vascular Applications

The peripheral vascular applications segment accounted for the majority of the market share in 2020, with a valuation of around USD 411 million. The growing number of patients suffering from peripheral vascular diseases, the rising geriatric population, and people's sluggish lifestyles are driving the majority share of the segment. The highly precise mechanism and effective management with minimal damage to the surrounding tissues make atherectomy devices useful in peripheral vascular applications. Furthermore, these devices are efficient and dependable, increasing preference and adoption. As a result, these devices are strongly recommended for the treatment of peripheral vascular diseases.

By End-User

Ambulatory Care Centres
Hospitals and Surgical Centres
Others

The hospital sector is anticipated to hold the largest market share for atherectomy devices in 2020, driven by the widespread use of cutting-edge tools that improve vascular care. The demand for atherectomy devices will rise due to rising admissions brought on by peripheral and coronary atrial diseases, shorter hospital stays, and the availability of highly skilled medical personnel.

By Region

North America

Mexico
United States of America
Canada
Rest of North America

Europe

Italy
France
Germany
United Kingdom
Rest of Europe

Asia Pacific

China
Japan
India
Rest of APAC

LAMEA

Brazil
UAE
Argentina
Rest of LAMEA

With a share of 75.83%, North America had the largest market. The industry has expanded as a result of better technology, more atherectomy-trained medical professionals, and an increase in peripheral, cardiovascular, and neurovascular diseases. The CDC estimates that 6.5 million Americans aged 40 and older have peripheral artery disease. With a CAGR of 8.2%, Asia-Pacific is predicted to experience the highest industry growth between 2020 and 2030. Socioeconomic changes, unhealthy diets, alcohol consumption, smoking, and demographic aging have increased target diseases and overall market demand.

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Major Players