Newark, Oct. 02, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the global thrombectomy devices market will grow from USD 1.52 Billion in 2022 to USD 2.7 Billion by 2032. The COVID-19 pandemic has increased the use of thrombectomy techniques, telemedicine, and remote consultations in health care. By expanding thrombectomy services to undеrsеrvеd or remote places, tеlеmеdicinе possesses the potential to improve access to timely care for more patients. As tеlеmеdicinе technologies advance, it may play a crucial role in pre-procedure assessments, post-procedure follow-ups, and inter-professional consultation, ultimately improving patient outcomes. Patient-centred care emphasizes the value of including people in healthcare decisions and has gained popularity recently. This trend resulted in the invention of thrombectomy device designs that put a premium on patient convenience, quicker recovery times, and fewer problems. Device design is increasingly influenced by user feedback and preferences, emphasizing improving the overall patient experience.
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Key Insight of the Thrombectomy Devices Market
Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.
During the forecast period, Asia-Pacific is expected to grow at the highest CAGR within the global thrombectomy devices market. The Asia-Pacific region would significantly expand. Asia Pacific has enormous growth potential in the global thrombectomy devices (ICF) market due to its rapid urbanization and growing elderly population. Due to several factors, this region has seen a spectacular increase in market demand. First, with huge populations and expanding cardiovascular disease incidences in nations like China and India, there is a greater prevalence based on the need for thrombectomy procedures. Second, adopting advanced medical technologies, such as thrombectomy devices, has been made possible by developing healthcare infrastructure and rising healthcare expenditure in developing countries across the region. The market has expanded due to rising awareness of the value of early detection and treatment of cardiovascular diseases. Several government and healthcare organization initiatives have boosted the demand for thrombectomy devices in the region to better healthcare access and quality.
The aspiration thrombectomy devices segment is expected to grow at the highest CAGR during the forecast period.
The type segment is divided into aspiration thrombectomy devices, mechanical thrombectomy devices, ultrasonic thrombectomy devices and others. The aspiration thrombectomy devices foam segment is expected to grow at the highest CAGR during the forecast period. The segment's growth is attributed to the growing adoption of aspiration thrombectomy devices for thrombectomy procedures. These devices effectively suction away the blood clot or thrombus from the compromised blood vessel by producing a vacuum effect. The ability of aspiration devices to rapidly remove blood clots and restore blood flow explains their widespread use. They also have positive clinical results and are often simple to use. Their high market growth has been greatly influenced by medical professionals' increasing adoption and utilization of aspiration devices in treating acute ischemia and other vascular occlusions.
The peripheral segment is expected to grow at the highest CAGR during the forecast period.
The application segment is divided into cardiovascular, neurovascular, and peripheral. The peripheral segment is expected to augment the market during the forecast period. Vascular diseases of the extremities are widespread, especially in the ageing population. Common illnesses that require thrombectomy operations include PAD, DVT, and PE. For surgical treatments to treat peripheral vascular diseases, thrombectomy devices provide minimally invasive techniques. Patients frequently choose these less invasive treatments. A wide variety of thrombectomy tools designated for peripheral applications are available from manufacturers. These include athеrеctomy tools, rotating tools, and catheter-based systems designed to meet specific clinical circumstances. It is possible to do many peripheral vascular thrombectomy treatments in an outpatient setting, which shortens hospital stays and recovery periods.
The ambulatory surgical centres segment is expected to grow at the highest CAGR during the forecast period.
The end-user segment is divided into hospitals and ambulatory surgical centres. The ambulatory surgical centres segment is expected to grow at the highest CAGR during the forecast period. During the projection period, the segment is anticipated to grow at a high rate because of the reduced waiting times offered to patients by ambulatory surgical centres. The market for thrombectomy devices in neurovascular applications is also anticipated to grow due to the rising demand for minimally invasive surgical procedures and the development of technologically sophisticated products utilized in ambulatory surgical centres. For instance, EMBOGUARD is a sophisticated balloon guide catheter created for endovascular operations, particularly for patients with acute ischemic stroke, by Cernuous, a Johnson & Johnson Medical Devices Companies division. The product was launched in February 2022.
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Advancement in market
• In November 2021, Penumbra Inc., a leading provider of innovative therapeutics, revealed that their Indigo System CA RX Catheter performed well in the CHEETAH clinical research..
• In September 2021: To create the NeuroVascular Quality Initiative-Quality Outcomes Database (NVQI-QOD), the Society of Neurointerventional Surgery (SNIS) and NeuroPoint Alliance (NPA) worked with the Society of Vascular and Interventional Neurology (SVIN).
Market Dynamics
Driver: Rise in Minimally Invasive Procedures
The inclination for minimally invasivе procedures is one of the markеts for thrombectomy devices' most notable developments. Minimally invasive techniques are becoming increasingly popular among patients and health care professionals. Reduced post-operative problems, shorter hospital stays, and shorter recovery times are some benefits of minimally invasive thrombectomy operations. As a result, there has been an increase in demand for thrombectomy tools, such as mechanical thrombectomy tools and catheter-based techniques that allow internists to access and remove clots with fewer incisions. Thrombectomy tools provide a minimally invasive method of clot removal, which lowers the risks of open procedures and speeds up recovery. This patient-centred philosophy has prompted the use of thrombectomy procedures and equipment. This factor is augmenting the market growth and development in the current scenario.
Restraint: Stringent Regulations
The ever-changing regulatory environment is one of the biggest constraints on the global market for thrombectomy devices. The approval, safety, and efficacy of medical devices are subject to stringent rules from regulatory organizations like the European Medicines Agency (EMA) and the U.S. Food and Drug Administration (FDA). This demanding pre-market approval process demands significant paperwork, thorough clinical trials, and adherence to quality standards. Complying with these legal requirements can be time-consuming and exhausting for thrombectomy device manufacturing companies. The requirement for ongoing upgrades and adhesion to evolving regulations may further increase the burden on manufacturing operations and expenditures. This aspect delays the introduction of novel thrombectomy devices to the market, stifling innovation and possibly limiting patient access to advanced therapies. This factor is restraining the current market growth and development.
Opportunity: Rise in Healthcare Expenditure
Governments and commercial organizations invest in healthcare infrastructure, technology, and training, driving global healthcare spending. This investment has assisted in adopting advanced medical techniques, such as thrombectomy, and purchasing novel/innovative thrombectomy equipment. The availability of financial resources for manufacturing innovative medical equipment has been a key factor in the market's expansion. The development and improvement of healthcare infrastructure, particularly in emerging nations, has aidеd the widespread use of thrombectomy techniques and equipment. This involves the accessibility of hospitals with the right equipment, qualified medical personnel, and appropriate assistance systems to carry out these procedures safely and efficiently. Thrombectomy devices have expanded due to a focus on providing patient-centred treatment and enhancing the quality of life for people with thrombotic diseases. These factors are anticipated to provide lucrative growth opportunities in the upcoming years.
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Some of the major players operating in the thrombectomy devices market are:
• Boston Scientific Corporation
• Argon Medical Devices Inc.
• Johnson & Johnson
• Edwards Lifesciences Corporation
• Medtronic PLC
• Koninklijke Philips NV
• Stryker Corporation
• Terumo Corporation
• Straub Medical AG
• Acandis GmbH
• Cook Medical
Key Segments Cover in the Market:
By Type:
• Aspiration Thrombectomy Devices
• Mechanical Thrombectomy Devices
• Ultrasonic Thrombectomy Devices
• Others
By Application:
• Cardiovascular
• Neurovascular
• Peripheral
By End-user:
• Hospitals
• Ambulatory Surgical Centers
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analysed based on value (USD Billion). All the segments have been analysed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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