Plaque Modification Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Plaque Modification Devices Market by Product Type (Atherectomy Devices, Thrombectomy Devices, Chronic Total Occlusion (CTO) Devices, Embolic Protection Devices, and Others), Application (Coronary Artery Devices, Peripheral Artery Devices, and Neurovascular Devices), End-User (Hospitals, Ambulatory Surgical Centres, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to advance at a respectable CAGR forecast till 2030 owing to the growing prevalence of cardiovascular disorders and increasing product developmental activities worldwide

The plaque modification devices market was valued at USD 1.12 billion in 2023, growing at a CAGR of 8.09% during the forecast period from 2024 to 2030, in order to reach USD 1.77 billion by 2030. The plaque modification devices market is expanding rapidly due to the growing prevalence of cardiovascular disorders including atrial fibrillation, coronary artery disease, and peripheral artery disease, increasing product developmental activities such as regulatory clearances, rising sedentary lifestyle & lifestyle-associated disorders that are expected to escalate the overall growth of the plaque modification devices market during the forecast period from 2024 to 2030.

Plaque Modification Devices Market Dynamics:

As per data provided by the World Heart Report (2023), in 2021 it was stated that more than half a billion people were living with cardiovascular diseases globally. Further, according to recent data provided by the American Heart Association (2023), it is estimated that by 2030 over 12 million people will have atrial fibrillation globally.

According to British Heart Foundation, Global Heart & Circulatory Diseases Factsheet (2024), it stated that around 200 million people are living with coronary artery disease (CAD) around the world.

As per data by the American Heart Association (2023), around 200 million live with peripheral artery disease (PAD) globally on average. Also, as per the Global Burden of Disease (2019), there were 56.4 million prevalent cases of PAD among those aged 40 to 70, worldwide in 2019.

Plaque modification devices are crucial in treating conditions like cardiovascular disease such as CAD, and PAD by removing or reducing arterial blockages. Atherectomy devices, for example, help clear plaque build-up, improving blood flow and preventing complications like heart attacks or strokes. In atrial fibrillation cases, these devices aid in restoring normal heart function by addressing underlying arterial issues. Their minimally invasive nature and effectiveness in restoring circulation make them essential in managing and treating these widespread cardiovascular conditions.

Additionally, in January 2021, Cardiovascular Systems, Inc. received CE Mark for Diamondback 360(R) Coronary Orbital Atherectomy System.

Therefore, the factors stated above collectively will drive the overall plaque modification devices market growth.

However, side effects associated with vessel injury, hematoma, & others, and the availability of alternative procedures, among others may prove to be challenging factors for plaque modification devices market growth.

Plaque Modification Devices Market Segment Analysis:

Plaque Modification Devices Market by Product Type (Atherectomy Devices, Thrombectomy Devices, Chronic Total Occlusion (CTO) Devices, Embolic Protection Devices, and Others), Application (Coronary Artery Devices, Peripheral Artery Devices, and Neurovascular Devices), End-User (Hospitals, Ambulatory Surgical Centres, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product type segment of the plaque modification devices market, the atherectomy devices category is expected to have a significant revenue share in the year 2023. This is because of the widespread uses and features of atherectomy devices that enhance their utility and effectiveness. Atherectomy devices are designed to remove atherosclerotic plaque from blood vessels, particularly in cases where the plaque is calcified or hardened. These devices come in various forms, including directional, rotational, orbital, and laser atherectomy systems, each using different mechanisms to break down or vaporize plaque.

Key features include precise plaque removal, which helps restore blood flow while minimizing damage to the vessel walls. Atherectomy devices are often equipped with imaging capabilities, allowing for better visualization and targeted treatment. These are frequently used in complex cases with calcified lesions, facilitating easier stent placement and improving long-term patient outcomes.

Therefore the widespread uses and various features of atherectomy devices enhance performance and usability, solidifying the significant impact on the growth of the overall plaque modification devices market during the forecast period from 2024 to 2030.

North America is expected to dominate the overall plaque modification devices market:

Among all the regions, North America is expected to dominate the plaque modification devices market in the year 2023 and is expected to do the same during the forecast period. This is driven by the increasing cardiovascular disorders including CAD, PAD, myocardial infarction, and its associated risk factors, regulatory support and the presence of well-established healthcare infrastructure are acting as key factors contributing to the growth of the plaque modification devices market in the North America region during the forecast period from 2024 to 2030.

According to data from the Centers for Disease Control and Prevention (2024), it was stated that 805,000 people in the US have a myocardial infarction every year on average. As per the same source, it was also stated that heart disease is an umbrella term that encompasses numerous indications such as acute coronary syndrome, atherosclerosis, and congestive heart failure among others. Some of the key risk factors associated with heart disease are high blood cholesterol, high blood pressure, and smoking. The source further mentioned that about half of Americans (47%) have at least one of these three risk factors. Furthermore, as per data provided by the National Institute of Health (2023), it stated that 20.5 million people in the US were living with CAD.

Data from the Canadian Institute for Health Information (2024), stated that in 2022, 2.4 million Canadians were affected by heart disease.

As per data by the American Heart Association, 2021, PAD affected about 8.5 million U.S. adults over the age of 40, in 2021. As per the same source, African Americans are more likely to screen positive for PAD than non-Hispanic adults.

Plaque modification devices are used to treat atherosclerosis in CAD and PAD by removing or altering plaque, restoring blood flow, and reducing heart attack risk. They are vital in managing these conditions and improving vascular health outcomes.

Rising product developmental activities by regulatory bodies and key players in the region will further boost the market for plaque modification devices. For example, in September 2021, Cardiovascular Systems Inc. received FDA approval for the Diamondback 360(R) Peripheral Orbital Atherectomy System and the Diamondback 360(R) Stealth Orbital Atherectomy System.

Therefore, the interplay of all the aforementioned factors would provide a conducive growth environment for the North American plaque modification devices market.

Plaque Modification Devices Market key players:

Some of the key market players operating in the Plaque Modification Devices market include Medtronic, Boston Scientific Corporation, Abbott, Shockwave Medical, Inc., Cardiovascular Systems, Inc., AngioDynamics, Inc., Avinger, REX MEDICAL, Ra Medical Systems, Koninklijke Philips N.V., Rontis Corporation, BD, Penumbra, Inc., Stryker, Microvention, Inc., Johnson & Johnson Services, Inc., ARGON MEDICAL., Inari Medical, Nitiloop, Soundbite Medical Solutions, and others.

Recent Developmental Activities in the Plaque Modification Devices Market:

• In September 2021, Abbott acquired Walk Vascular, LLC, a commercial-stage medical device company with a minimally invasive mechanical aspiration thrombectomy system designed to remove peripheral blood clots.
• In August 2021, the FDA cleared the 510(k) application of Medtronic's TurboHawk Plus Directional Atherectomy System, an updated version of its older and largely phased-out atherectomy device.
• In February 2021, Shockwave Medical, Inc. a medical device company focused on the development of Intravascular Lithotripsy (IVL) to treat severely calcified cardiovascular disease, received Pre-Market Approval from the US FDA for the company's sonic pressure wave device to treat severely calcified CAD.

Key Takeaways from the Plaque Modification Devices Market Report Study

• Market size analysis for current plaque modification devices market size (2023), and market forecast for 6 years (2024 to 2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the plaque modification devices market
• Various opportunities available for the other competitors in the plaque modification devices market space
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current plaque modification devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for plaque modification devices market growth in the coming future?

Target Audience who can be benefited from this Plaque Modification Devices Market Report Study

• Plaque modification devices product providers
• Research organizations and consulting companies
• Plaque modification devices-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in plaque modification devices
• Various end-users who want to know more about the plaque modification devices market and the latest technological developments in the plaque modification devices market

Frequently Asked Questions for the Plaque Modification Devices Market:

1. What are Plaque Modification Devices?

• The plaque in the arteries is a deposition of a fatty, waxy substance that can narrow the artery and reduce blood flow. Plaque modification devices are intended for the removal of plaque and other debris from the arteries, which carry the blood to the heart and brain.

2. What is the market for Plaque Modification Devices?

• The plaque modification devices market was valued at USD 1.12 billion in 2023, growing at a CAGR of 8.09% during the forecast period from 2024 to 2030, to reach USD 1.77 billion by 2030.

3. What are the drivers for the Plaque Modification Devices market?

• The plaque modification devices market is expanding rapidly due to the growing prevalence of cardiovascular disorders including atrial fibrillation, coronary artery disease, and peripheral artery disease, increasing product developmental activities such as regulatory clearances, rising sedentary lifestyle & lifestyle-associated disorders that are expected to escalate the overall growth of the plaque modification devices market during the forecast period from 2024 to 2030.

4. Who are the key players operating in the Plaque Modification Devices market?

• Some of the key market players operating in plaque modification devices include Medtronic, Boston Scientific Corporation, Abbott, Shockwave Medical, Inc., Cardiovascular Systems, Inc., AngioDynamics, Inc., Avinger, REX MEDICAL, Ra Medical Systems, Koninklijke Philips N.V., Rontis Corporation, BD, Penumbra, Inc., Stryker, Microvention, Inc., Johnson & Johnson Services, Inc., ARGON MEDICAL., Inari Medical, Nitiloop, Soundbite Medical Solutions, and others.

5. Which region has the highest share in the Plaque Modification Devices market?

• Among all the regions, North America is expected to dominate the plaque modification devices market in the year 2023 and is expected to do the same during the forecast period. This is driven by the increasing cardiovascular disorders including CAD, PAD, myocardial infarction and its associated risk factors, regulatory support, and the presence of well-established healthcare infrastructure that are acting as key factors contributing to the growth of the plaque modification devices market in the North America region during the forecast period from 2024 to 2030.