Atherectomy Devices Market Size, Share, Analysis & Forecast | 2031
Atherectomy Devices Market Size, Share, Analysis & Forecast | 2031
Segments - Atherectomy Devices Market by Product (Rotational, Laser, Directional, and Orbital), End-user (Hospitals,Research Laboratories,Surgical Centers, and Academic Institutes),Application (Cardiovascular, Peripheral, and Neurovascular),and Region Asia Pacific, North America, Latin America, Europe, and Middle East & Africa - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :HC-5446
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| 180 Pages
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Report Description
The global atherectomy devices market size was USD 869.75 Mn in 2022 and is likely to reach USD 2136.25 Mn by 2031, expanding at a CAGR of 10.6% during 2023–2031. The market growth is attributed to the rising geriatric population and the increasing prevalence of coronary artery disease (CAD) and peripheral artery disease (PAD).
The atherectomy procedure makes the artery wider; thus, blood can flow freely to the heart muscles. Atherectomy devices are used to remove plaque from an atherosclerotic vessel. In 1981, biomedical engineer David Auth developed an atherectomy device called a Rotabator. With the help of this device, he pulverized hardened plaquefrom the coronary arteries. Rotablator is a type of catheter-based method called rotational atherectomy.
In atherosclerosis, plaque builds up inside the arteries, reducing the blood flow and making them narrow.These devices treat coronary artery disease and peripheral artery disease.These devices apply different methods to remove plaque, including grinding, cutting, or vaporizing it.Doctors suggest an atherectomy if a blockage persists after stenting and angioplasty or plaque is hard. It is a catheter-based and minimally invasive procedure.
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In October 2021, a research study published in Elsevier Journal revealed that the consistent upgrades in percutaneous coronary intervention have driven surgeons to minimize the invasive nature of surgical revascularization techniques. Itis likely to boost the progression toward minimally invasivecardiac surgery (MICS) methods. MICS reduces intensive care and hospital stays, lessens postoperative pain, and prevents any form of sternotomy.
The market research report finds that the COVID-19 pandemic negatively impacted the market. The pandemic has had an adverse effect onthe lifestyle of the people. Government implements several rules and regulations to curb the outbreak of the pandemic. It has affected the supply chain, global economy, and transportation of goods. In addition, healthcare providers focused on treating COVID-19 patients and postponed non-emergency procedures.
Atherectomy Devices Market Dynamics
Key Trends
Rising trend of minimally invasive surgeries is anticipated to boost the market in the coming years. Invasive surgeries cause less damage to the body than open surgery.Invasive surgeries include cryotherapy, biopsy, excision, and endoscopy. These surgeriesreduce the risk of complications and require a shorter hospital stay.
Major Drivers
Growing demand for vascular devices and the prevalence of peripheral and coronary atrial diseasesare expected to fuel the market during the forecast period. Commercialization and continuous product development are projected to drive the market.
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In November 2021, Royal Philips launched peripheral and coronary artery applications, including the Nexcimerlaser system, in Orlando, United States. This Philips Laser System provides plug-and-play simplicity for peripheral and coronary atherectomy and lead extraction procedures. This system supports lead extraction procedures.
Existing Restraints
High cost of devices, lack of skilled healthcare professionals, and stringent regulations are expected to hamper the market. As per the National Library of Medicine (NCBI), the average cost of atherectomy is USD 9300, whereas angioplasty is USD 7300. Furthermore, a study published in the Journal of the American Heart Association (AHA) revealed that atherectomy had a 37.7% restenosis rate. Thus, patients are likely to prefer other alternative treatments over atherectomy.
Emerging Opportunities
Technological advancements in atherectomy devices are likely to create lucrative opportunities for market players during the forecast period. For example, incorporatinga medical laser system in atherectomy devices has improved the safety and effectiveness of atherectomy procedures. Laser atherectomy devicesemit high-energy light to unblock arteries. It vaporizes the blockage inside the vessels, normalizing blood flow to the peripheral tissue.
Scope of the Atherectomy Devices Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Atherectomy Devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Product (Rotational, Laser, Directional, and Orbital), End-user (Hospitals, Ascs, Research Laboratories, Surgical Centers, and Academic Institutes), and Application (Cardiovascular, Peripheral, and Neurovascular) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Market Segment Insights
Product Segment Analysis
On the basis of product, the atherectomy devices market is segmented into rotational, laser, directional, and orbital. Therotational segment is anticipated to account for a major market revenue share during the forecast period. Rotational atherectomy devices navigate through the site of blockage at a speed of up to 150,000 rpm. This device is known for ‘differential cutting’ and removes calcified plaque.
The directional segment is projected to expand at a considerable CAGR during the forecast period. Directional atherectomy devices remove the blockage from coronary arteries and ease the pain.It removes all plaque morphologies, including severe calcium. It has a metal cylinder at its distal end that houses a coaxial rotating cup-shaped blade.
End-user Segment Analysis
Based on end-user, the market is divided into hospitals, research laboratories, surgical centers, and academic institutes. The hospitals segment is expected to hold a major market share in the coming years due to the rising adoption of minimally invasive procedures.
The research laboratories segment accounts for a significant market share, owing to technological advancements in atherectomy devices. The research and development activities offer affordable medical devices that address health needs. Medical device development includes testing, prototyping, product design, verification, and validation.
Application Segment Analysis
On the basis of application, the market is segregated into cardiovascular, peripheral, and neurovascular. The cardiovascular segment is anticipated to expand at a substantial CAGR during the forecast period due to the rising prevalence of peripheral artery disease, growing incidence of diabetes, and increasing aging population.
The neurovascular segment is expected to hold a significant market share, owing to the rising inactive lifestyle. An inactive lifestyle directly affects RVLM neurons' excitability and increases the risk of cardiovascular disease.
Regional Outlook
In terms of region, the global atherectomy devices market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the forecast period, owing to healthcare professionals' increasing adoption of atherectomy systems and favorable reimbursement scenarios. The rising demand for minimally invasive devices in the region is projected to propel the market in the coming years.
The market in Europe is anticipated to expand rapidly during the forecast period, due to rising focus on patient safety and outcomes.Furthermore, increasing alcohol consumption, unhealthy eating, and sedentary lifestyles contribute to the market growth during the forecast period.
Segments
The global atherectomy devices market has been segmented on the basis of
Product
- Rotational
- Laser
- Directional
- Orbital
End-user
- Hospitals
- Research Laboratories
- Surgical Centers
- Academic Institutes
Application
- Cardiovascular
- Peripheral
- Neurovascular
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Medtronic
- TERUMO CORPORATION
- BD (C. R. Bard, Inc.)
- Minnetronix, Inc.
- Avinger
- AngioDynamics, Inc.
- RA Medical Systems Inc
- B. Braun Melsungen AG
- Koninklijke Philips N.V.
- Boston Scientific Corporation
Competitive Landscape
Key players competing in the global atherectomy devices market are Medtronic; TERUMO CORPORATION; BD (C. R. Bard, Inc.); Minnetronix, Inc.; Avinger; AngioDynamics, Inc.; RA Medical Systems Inc; B. Braun Melsungen AG; Koninklijke Philips N.V.; and Boston Scientific Corporation.Major players are actively engaged in R&D programs and aim to expand manufacturing units to expand their consumer base and increase their product portfolio.
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In August 2022, AngioDynamics, Inc. stated that the Auryon Atherectomy System has gained 510(k) clearance for an expanded indication, including arterial thrombectomy.
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In February 2022, One of the key players in the market, Ra Medical Systems, announced that its pivotal clinical trial focused on evaluating the effectiveness and safety of the Dabra excimer laser system reached the enrolment of 95 patients. The system is an atherectomy device developed for treating peripheral arterial disease (PAD) patients. The company reported that it received approval from the US FDA to increase the above enrolment from 100 to 125 patients.
In November 2021, Royal Philips launched Nexcimerlaser system in Orlando, United States.This device has plug-and-play simplicity for lead extraction and coronary and peripheral atherectomy procedures. It works similarly to catheters with Level I clinical data for ISR atherectomy.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Atherectomy Devices Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Atherectomy Devices Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Atherectomy Devices Market - Supply Chain
4.5. Global Atherectomy Devices Market Forecast
4.5.1. Atherectomy Devices Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Atherectomy Devices Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Atherectomy Devices Market Absolute $ Opportunity
5. Global Atherectomy Devices Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Atherectomy Devices Market Size and Volume Forecast by Applications
5.3.1. Cardiovascular
5.3.2. Peripheral
5.3.3. Neurovascular
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Atherectomy Devices Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Atherectomy Devices Market Size and Volume Forecast by End Users
6.3.1. Hospitals
6.3.2. Research Laboratories
6.3.3. Surgical Centers
6.3.4. Academic Institutes
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Atherectomy Devices Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Atherectomy Devices Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Atherectomy Devices Demand Share Forecast, 2019-2026
8. North America Atherectomy Devices Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Atherectomy Devices Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Atherectomy Devices Market Size and Volume Forecast by Applications
8.4.1. Cardiovascular
8.4.2. Peripheral
8.4.3. Neurovascular
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. North America Atherectomy Devices Market Size and Volume Forecast by End Users
8.7.1. Hospitals
8.7.2. Research Laboratories
8.7.3. Surgical Centers
8.7.4. Academic Institutes
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Atherectomy Devices Demand Share Forecast, 2019-2026
9. Latin America Atherectomy Devices Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Atherectomy Devices Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Atherectomy Devices Market Size and Volume Forecast by Applications
9.4.1. Cardiovascular
9.4.2. Peripheral
9.4.3. Neurovascular
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Latin America Atherectomy Devices Market Size and Volume Forecast by End Users
9.7.1. Hospitals
9.7.2. Research Laboratories
9.7.3. Surgical Centers
9.7.4. Academic Institutes
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Atherectomy Devices Demand Share Forecast, 2019-2026
10. Europe Atherectomy Devices Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Atherectomy Devices Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Atherectomy Devices Market Size and Volume Forecast by Applications
10.4.1. Cardiovascular
10.4.2. Peripheral
10.4.3. Neurovascular
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Europe Atherectomy Devices Market Size and Volume Forecast by End Users
10.7.1. Hospitals
10.7.2. Research Laboratories
10.7.3. Surgical Centers
10.7.4. Academic Institutes
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Atherectomy Devices Demand Share Forecast, 2019-2026
11. Asia Pacific Atherectomy Devices Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Atherectomy Devices Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Atherectomy Devices Market Size and Volume Forecast by Applications
11.4.1. Cardiovascular
11.4.2. Peripheral
11.4.3. Neurovascular
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Asia Pacific Atherectomy Devices Market Size and Volume Forecast by End Users
11.7.1. Hospitals
11.7.2. Research Laboratories
11.7.3. Surgical Centers
11.7.4. Academic Institutes
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Atherectomy Devices Demand Share Forecast, 2019-2026
12. Middle East & Africa Atherectomy Devices Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Atherectomy Devices Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Atherectomy Devices Market Size and Volume Forecast by Applications
12.4.1. Cardiovascular
12.4.2. Peripheral
12.4.3. Neurovascular
12.5. Basis Point Share (BPS) Analysis by Applications
12.6. Y-o-Y Growth Projections by Applications
12.7. Middle East & Africa Atherectomy Devices Market Size and Volume Forecast by End Users
12.7.1. Hospitals
12.7.2. Research Laboratories
12.7.3. Surgical Centers
12.7.4. Academic Institutes
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Atherectomy Devices Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Atherectomy Devices Market: Market Share Analysis
13.2. Atherectomy Devices Distributors and Customers
13.3. Atherectomy Devices Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Medtronic
13.4.2. TERUMO CORPORATION
13.4.3. BD (C. R. Bard, Inc.)
13.4.4. Minnetronix, Inc.
13.4.5. Avinger
13.4.6. AngioDynamics, Inc.
13.4.7. RA Medical Systems Inc
13.4.8. B. Braun Melsungen AG
13.4.9. Koninklijke Philips N.V.
13.4.10. Boston Scientific Corporation
Methodology
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