Newark, NJ, May 27, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global clot management devices market is expected to grow from USD 2.03 billion in 2020 and to reach USD 3.32 billion by 2028, growing at a CAGR of 5.58% during the forecast period 2021-2028.
As a result of growing coronary heart disease, peripheral arterial disease, stroke, and venous thromboembolism, the market is expected to grow. The ageing population, which is at a higher risk of developing such diseases, also contributes to the increased demand. The market is expected to expand in the coming years due to rising demand for successful thrombectomy/embolectomy devices and increased awareness of newer approaches to clot management. Furthermore, one of the key factors propelling the growth is an increasing awareness among patients and healthcare professionals about the advantages of using percutaneous thrombectomy devices over the conventional technique of clot removal by open surgery.
Blood cannot reach the lungs, heart, legs, or brain because of a blood clot. Blood clots in the arteries are the cause of heart attacks, strokes, and severe leg pain. Furthermore, blood clots are a leading cause of death for cancer patients. Blood clots are treated with anticoagulation surgery and drugs. Clot management equipment may also be used to treat neurovascular, arteriovenous, peripheral artery, and coronary thrombosis. Clot monitoring systems are being used more commonly as the incidence of peripheral artery syndrome rises. Some of the major factors pushing the global clot management devices market forward are the increase in the prevalence of coronary heart diseases, as well as the ageing population. In addition, as people become more conscious of the importance of good health, the market for clot management products is increasing. Nonetheless, a shortage of qualified physicians and low pay in developing countries are major roadblocks to the global clot management devices sector's development. In addition, since anticoagulant therapy is the primary treatment for deep vein thrombosis, the market for clot control devices is restricted.
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Stroke is one of the most common causes of disability. A stroke can be caused by a variety of causes, including a change in diet, a lack of physical activity, high blood pressure, cholesterol, and smoking. Furthermore, the industry is expected to expand as the US FDA approves the marketing of clot retrieval systems as an initial therapy for stroke. The global clot management devices market will benefit from increased innovation in clot management products. Complications in system handling, on the other hand, may pose a challenge to the global market for clot management devices. The combined use of catheter guided thrombolysis and percutaneous thrombectomy for the treatment of acute venous thrombosis is the current trend in the global clot management devices industry.
Key players operating in the global clot management devices market include Boston Scientific Corporation, Medtronic, Inc., AngioDynamics, Inc., Bayer HealthCare AG, Janssen Pharmaceuticals, Inc., Applied Medical Resources Corporation, Volcano Corporation, Stryker Corporation, EKOS Corporation and Edwards Lifesciences Corporation. To gain a significant market share in the global clot management devices market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
The percutaneous thrombectomy devices segment had the highest share of 26.49% in 2020
The product segment includes Inferior Vena Cava Filters (IVCF), Percutaneous Thrombectomy Devices, Neurovascular Embolectomy Devices, Catheter-Directed Thrombolysis (CDT) Devices, Embolectomy Balloon Catheters. In 2020, the percutaneous thrombectomy devices segment had the largest share of 26.49% in the clot management devices market. Amplatz thrombectomy device, Trerotola device, the Trellis device, AngioJet device and others are some of the most important items in the percutaneous thrombectomy device category.
Diagnostic centers are anticipated to show the highest market value of 1.19 billion by 2028
The end-user segment includes hospitals and diagnostic centers. Diagnostic centres are expected to have the largest market value of 1.19 billion by 2028. The market is expected to benefit from rising demand for low-risk clot removal methods in order to reduce hospital costs and wait times.
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Regional Segment Analysis of Clot Management Devices Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global clot management devices market is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. In 2020, North America had a majority share of over 25.17%. The increasing rate of peripheral and cardiovascular diseases, the increasing geriatric population, and the availability of a well-developed reimbursement system are all contributing factors to this region's high share. Furthermore, growth in the number of people exposed to risk factors such as smoking, alcohol consumption, drug abuse, and obesity have positively contributed in the growth of the region.
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About the report:
The global clot management devices market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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