Atherectomy and Thrombectomy Devices Market | 2032

Report Description

Atherectomy and Thrombectomy Devices Market Outlook 2032

The global atherectomy and thrombectomy devices market size was USD 3.57 Billion in 2023 and is projected to reach USD 6.62 Billion by 2032, expanding at a CAGR of 7.1% during 2024–2032. The market growth is attributed to the rising prevalence of cardiovascular diseases.

Increasing demand for advanced medical interventions resulted in the high adoption of atherectomy and thrombectomy devices, which further boosts the market. Atherectomy and thrombectomy devices are increasingly used in cardiovascular interventions, vascular surgery, and neurovascular procedures to remove plaque buildup and blood clots. Their growing usability is attributed to innovations in device design, enhanced precision, and improved patient outcomes. Moreover, the growing consumer base for minimally invasive surgeries and treatment boosts the demand for advanced atherectomy and thrombectomy devices.

• As per the report published by the National Library of Medicine in January 2023, over 10% of surgeries performed on inpatients and almost 20% of surgeries performed on outpatients in 2017 and 2018 are minimally invasive surgeries. Additionally, nearly 3% of surgeries were performed with the assistance of robots.
  

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Impact of Artificial Intelligence (AI) on the Atherectomy and Thrombectomy Devices Market

The emergence of artificial intelligence is boosting the atherectomy and thrombectomy devices market. AI-powered technologies enable healthcare providers to analyze vast amounts of patient data to make accurate diagnosis and treatment decisions. Furthermore, AI facilitates remote monitoring and telemedicine, which enables healthcare providers to deliver high-quality care to patients in remote or underserved areas.

Atherectomy and Thrombectomy Devices Market Dynamics

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Major Drivers

Growing prevalence of cardiovascular diseases is expected to drive the market during the forecast period. Conditions such as coronary artery disease, peripheral artery disease, and strokes require minimally invasive procedures to remove plaque buildup and blood clots from arteries. Moreover, the rising elderly population and unhealthy lifestyle habits increase the burden of cardiovascular ailments, thereby fueling the market.

• According to a report published by the WHO on June 11, 2021, around 17.9 million people died due to cardiovascular diseases (CVDs) in 2019, which accounted for 32% of all global deaths. Among these deaths, 85% were caused by heart attack and stroke.

Existing Restraints

High cost associated with thrombectomy and atherectomy devices is expected to hamper the market in the coming years. The initial investment required for purchasing these devices and expenses related to training healthcare professionals poses a financial burden on small healthcare facilities. Additionally, stringent regulatory requirements and approval related to the use of these types of advanced technologies hinder the market during the forecast period.

Emerging Opportunities

­Rising healthcare expenditure and investments to advance cardiovascular care are expected to create immense opportunities for the players competing in the market. Governments, healthcare organizations, and private stakeholders are allocating substantial resources to improve access to advanced cardiovascular interventions. Furthermore, strategic collaborations, partnerships, and acquisitions among market players facilitate the expansion of product portfolios, which further boosts the market.

Scope of the Atherectomy and Thrombectomy Devices Market Report

The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics are included in the report.

Atherectomy and Thrombectomy Devices Market Segment Insights

Type Segment Analysis

Based on type, the atherectomy and thrombectomy devices market is divided into rheolytic, aspiration, ultrasound device, rotations, and others. The aspiration segment held a major share of the market in 2023 due to the efficacy of aspiration devices in removing atheromatous plaque and thrombus from blood vessels with minimal trauma to surrounding tissues.

The ability of aspiration devices to precisely target and extract obstructions from arteries contributed to their widespread adoption in cardiovascular interventions. Furthermore, aspiration devices offer versatility in treating various arterial diseases, including coronary artery disease and peripheral artery disease, thereby boosting their demand.

The ultrasound device segment is expected to expand at a significant growth rate in the coming years, as it offers imaging capabilities, enabling healthcare providers to visualize blood vessel anatomy and guide atherectomy and thrombectomy procedures with precision. The integration of ultrasound technology into atherectomy and thrombectomy devices enhances procedural safety and efficacy. Moreover, the advancements in ultrasound imaging technology to cater to personalized medicine and patient-centered care boost the segment.

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End-user Segment Analysis

On the basis of end-user, the global market is segregated into hospitals, clinics, and others.

The clinics segment is anticipated to expand at a substantial CAGR during the forecast period due to the growing demand for atherectomy and thrombectomy devices in these settings. Clinical settings include a diverse range of healthcare facilities, including outpatient clinics, ambulatory surgery centers, and physician offices.

These medical settings often require advanced atherectomy and thrombectomy machines to cater to specialized medical interventions and treatment needs of patients. Moreover, the ease and convenience offered by the clinical settings are propelling the segment.

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Regional Outlook

In terms of region, the global atherectomy and thrombectomy devices market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a major market share in 2023 and the market in the region is expected to expand rapidly in the coming years, due to the high prevalence of cardiovascular diseases and well-established healthcare infrastructure. Moreover, the growing number of patients dying from heart conditions, such as coronary artery disease and peripheral artery disease, in this region boosts the market.

• According to the report published by the American Heart Association on January 25, 2023, cardiovascular disease (CVD) is the key cause of death in the US, accounting for 928,741 deaths in 2020.

The market in Asia Pacific is projected to grow at a significant pace in the years to come owing to the presence of a large population and a growing number of patients suffering from heart diseases. Sedentary lifestyles and unhealthy dietary habits have a profound impact on the health of the population in this region. Moreover, access to healthcare services and advancements in medical technology fuel the demand for these types of devices.

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