Wilmington, Delaware, United States, March 03, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global Thrombectomy Devices Market is projected to expand at a CAGR of 7.3% from 2023 to 2031, as per the market outlook report by TMR.
Mechanical thrombectomy devices have gained popularity in the healthcare industry in the past few years, as these devices help in the removal of blood clots from blood vessels using mechanical techniques. A clot is fragmented or suctioned, in order to remove it easily, using mechanical thrombectomy devices, which find applications in the treatment of strokes. As per market trend analysis by TMR, the mechanical/fragmentation thrombectomy devices segment accounted for a large share of the global market in 2022. This is ascribed to the rise in cases of cardiovascular disorders across the globe.
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Thrombectomy Devices Market: Key Findings
- Cardiovascular diseases, or CVDs, refer to a group of diseases that impact the normal functioning of blood vessels and the heart. These happen due to lifestyle changes, such as adoption of sedentary lifestyles, unhealthy food choices, and tobacco addiction. Prevalence of several disorders, such as heart failure, stroke, and coronary artery disease, has increased in the past few years. The World Health Organization (WHO) notes that CVD is the leading cause of deaths globally; a projected 17.9 million deaths occurred in 2019. Risks of CVD increase if an individual is suffering from disorders, such as high cholesterol, high blood pressure, obesity, and diabetes, and a family history of heart diseases. As per American Heart Association (AHA) statistics, the U.S. witnesses one death per 36 seconds due to CVD. This number accounts for about 655,000 deaths every year, or 1 in every 4 deaths. Moreover, around 121.5 million individuals in the U.S. are suffering from some form of CVD. Prevalence of CVDs has increased in the developing countries across the globe in the past few years. As per WHO estimates, sedentary lifestyles and tobacco consumption are key reasons for the death of about 80.0% of CVD patients in the middle- and low-income countries across the globe. Thus, rise in prevalence of CVD presents significant business opportunities for manufacturers of thrombectomy devices.
- Automated thrombectomy devices have gained significant popularity in the past few years. These devices are increasingly utilized in suction-based or mechanical technologies owing to the ability to help in removing blood clots in the blood vessels in a minimally invasive manner. Increase in usage of these devices in the treatment of deep vein thrombosis, stroke, and other conditions caused due to blood clots is propelling market growth. Key advantages of automated thrombectomy devices over conventional surgical techniques include reduced recovery time, improved patient outcomes, high level of control and precision during clot removal process, and decreased invasiveness. As per the market report by TMR, surge in usage of automated devices globally is likely to drive the global industry in the next few years.
Thrombectomy Devices Market: Growth Drivers
- Increase in prevalence of cardiac diseases is expected to boost demand for thrombectomy devices in the next few years
- Rise in number of older people across the globe is anticipated to propel industry growth during the forecast period.
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Regional Analysis
- North America held 30.0% share of the global industry in 2022. The market in the region is anticipated to expand at a rapid pace during the forecast period. This can be attributed to rise in incidence of cardiovascular disorders, such as cardiac arrest and high blood pressure.
- The market in Asia Pacific is likely to expand at a high CAGR during the forecast period due to increase in population, rising modernization of healthcare infrastructure, and growth in cases of cardiovascular conditions.
Thrombectomy Devices Market: Competition Landscape
Leading players are investing significantly in R&D activities in order to develop technologically advanced devices. Companies in the thrombectomy devices industry are also focusing on the development of rapid tests. They are adopting strategies, such as product launches and mergers & acquisitions, to increase market share.
Thrombectomy Devices Market: Key Players
- Boston Scientific Corporation
- Stryker Corporation
- Terumo Corporation
- Medtronic plc
- Teleflex Incorporated
- Johnson & Johnson
- Edwards Lifesciences Corporation
- Argon Medical Devices Inc.
- Penumbra, Inc.
- Koninklijke Philips N.V
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Thrombectomy Devices Market Segmentation-
Product Type
- Aspiration Thrombectomy Devices
- Mechanical/Fragmentation Thrombectomy Devices
- Coil Retrievers
- Basket/Brush Retrievers
- Stent Retrievers
- Rheolytic/Hydrodynamic Thrombectomy Devices
- Ultrasound-assisted Thrombectomy Devices
Device Type
- Automated
- Manual
Application
- Cardiovascular Thrombectomy
- Neurovascular Thrombectomy
- Peripheral Vascular Thrombectomy
End-user
- Hospitals and Specialty Clinics
- Ambulatory Surgery Centers
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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