PUBLISHER: The Business Research Company | PRODUCT CODE: 1518234
PUBLISHER: The Business Research Company | PRODUCT CODE: 1518234
Atherectomy devices are specialized medical tools employed in atherectomy procedures, a minimally invasive surgery designed to eliminate atherosclerotic plaque from blood vessels. These devices are essential for treating arterial blockages, providing an accurate and minimally invasive method to restore blood flow and relieve symptoms related to peripheral artery disease (PAD) and coronary artery disease (CAD).
The primary types of atherectomy devices include rotational atherectomy devices, orbital atherectomy devices, directional atherectomy devices, and other related products. Rotational atherectomy devices are specialized tools designed to treat hardened, calcified plaques in arteries. These devices are used in various applications, including peripheral vascular, cardiovascular, and neurovascular applications. The end users encompass hospitals and surgical centers, ambulatory care centers, and other facilities.
The atherectomy devices market research report is one of a series of new reports from The Business Research Company that provides atherectomy devices market statistics, including the atherectomy devices industry global market size, regional shares, competitors with atherectomy devices market share, detailed atherectomy devices market segments, market trends, and opportunities, and any further data you may need to thrive in the atherectomy devices industry. This atherectomy devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The atherectomy devices market size has grown strongly in recent years. It will grow from $0.85 billion in 2023 to $0.93 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to an increase in the elderly population, a rise in the incidence of cardiovascular conditions, increased funding and investment in cardiovascular research and healthcare infrastructure, rising obesity rates, and growing awareness of minimally invasive procedures.
The atherectomy devices market size is expected to see strong growth in the next few years. It will grow to $1.33 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The projected growth during the forecast period can be attributed to rising diabetes rates, an increase in lifestyle-related diseases, greater availability of reimbursements for atherectomy systems, higher disposable incomes, and a growing demand for atherectomy procedures. Key trends expected in this period include ongoing innovations in atherectomy devices, the integration of advanced imaging technologies, a focus on patient-centric care, the implementation of robotic systems, and the use of real-time data analytics and machine learning.
The prevalence of coronary artery disease is expected to drive the growth of the atherectomy devices market. Coronary artery disease (CAD) is characterized by the narrowing or blockage of the coronary arteries due to plaque buildup, reducing blood flow to the heart. This increase in CAD prevalence is attributed to a global rise in the elderly population, sedentary lifestyles, higher levels of stress and mental health issues, and greater consumption of unhealthy foods. Directional coronary atherectomy, a minimally invasive procedure, is designed to remove blockages from coronary arteries, improving blood flow to the heart muscle and alleviating pain. For instance, according to the Centers for Disease Control and Prevention, the percentage of adults aged 18 and over with coronary heart disease (a condition where plaque builds up inside the coronary arteries) increased from 4.6% in 2020 to 4.9% in 2021. Additionally, the percentage of adults aged 18 and over with angina rose from 1.5% in 2021 to 1.6% in 2022. Therefore, the rising prevalence of coronary artery disease is fueling the growth of the atherectomy devices market.
Major companies in the atherectomy devices market are developing innovative products, such as atherectomy peripheral platform-based catheters, to gain a competitive advantage. These catheters are used to treat peripheral artery disease by navigating through blood vessels to address arterial blockages in the legs. For example, in October 2023, Cardio Flow, a US-based medical device manufacturer, launched the FreedomFlow, an orbital atherectomy peripheral platform. The FreedomFlow platform uses a modern mechanism to remove plaque blockages in the leg arteries, employing a proprietary catheter-based design that utilizes angular momentum physics. This design features a spiral geometry with five diamond-coated spheres that maintain constant contact with the vessel wall during both advancement and retraction.
In April 2023, Abbott Laboratories, a US-based medical device manufacturer, acquired Cardiovascular Systems Inc. for an undisclosed amount. This acquisition bolsters Abbott's vascular portfolio, enhancing its ability to provide care for patients with peripheral and coronary artery disease. Cardiovascular Systems Inc., also based in the US, specializes in producing innovative atherectomy systems.
Major companies operating in the atherectomy devices market are Cardinal Health Inc., Bayer AG, Abbott Laboratories, Medtronic plc, Becton Dickinson and Company, Philips Healthcare, Boston Scientific Corporation, Merit Medical Systems Inc., Terumo Corporation, Cook Medical LLC, Integer Holdings Corporation, Biotronik SE & Co. KG, Penumbra Inc., Biomerics LLC, Asahi Intecc Co. Ltd., Volcano Corporation, AngioDynamics Inc., Cordis Corporation, Straub Medical AG, Avinger Inc., Cardio Flow Inc., Eximo Medical Ltd., Ra Medical Systems Inc., Acotec Scientific Holdings Ltd., ArioMedica Ltd
North America was the largest region in the atherectomy devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the atherectomy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the atherectomy devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The atherectomy devices market consists of sales of laser atherectomy devices, hydrodynamic atherectomy devices, and ultrasonic atherectomy devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Atherectomy Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on atherectomy devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for atherectomy devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The atherectomy devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.