New York, June 20, 2023 (GLOBE NEWSWIRE) -- The global Cerebral Thrombectomy Systems Market is expected to witness significant growth at a CAGR of 5.2% during the forecast period of 2023-2030. This growth is attributed to the rising demand for minimally invasive approaches such as cerebral thrombectomy systems to prevent stroke. According to a recent report by Consegic Business Intelligence, the cerebral thrombectomy systems market is poised for strong expansion and is expected to reach USD 5,707.43 million by 2030. The market, which was valued at USD 3,816.57 million in 2022, is predicted to grow at a compound annual growth rate of 5.2% during the period 2023-2030.
Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the Cerebral Thrombectomy Systems.
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A cerebral thrombectomy system refers to an advanced medical device designed to treat patients suffering from acute ischemic stroke, a condition caused by a blood clot blocking a blood vessel in the brain. The thrombectomy system is specifically designed to remove these blood clots and restore blood flow to the affected area of the brain.
This cutting-edge medical technology offers several benefits to healthcare providers and patients. Such type of system provides a minimally invasive approach to stroke treatment, thereby, significantly reducing the risks associated with traditional open surgeries. This leads to shorter hospital stays, quicker recovery times, and improved patient.
Global Cerebral Thrombectomy Systems Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | 5,707.43 Million |
| CAGR (2023-2030) | 5.2% |
| By Product Type | Enveloping Coils, Rheolytic Devices, Laser-based Devices, Suction Devices, Catheters with Balloons, Snares, and Others |
| By End-User | Hospitals, Clinics, Ambulatory Centers, Academic Research Centers, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | Penumbra, Inc., Terumo Medical Corporation, Medical Devices Business Services, Inc. (Johnson & Johnson), Stryker, Abbott, Boston Scientific Corporation, Medtronic, Teleflex Incorporated, Cardiovascular Systems, Inc., and Angio Dynamics |
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Global Cerebral Thrombectomy Systems Market Segmentation Details:
Based on Product Type, in 2022, the suction devices segment contributed the largest market shares in the cerebral thrombectomy systems market as suction devices are more cost-effective as compared to other tools and techniques. They generally do not require the use of expensive consumables or complex systems, making them more accessible and affordable for healthcare providers which are the factors driving the segment growth.
Based on End-User, in 2022, the hospital segment contributed the largest market share in the cerebral thrombectomy systems market. Hospitals comprise advanced imaging technologies, such as MRI and CT scanners, that are crucial for diagnosing and assessing stroke patients. These imaging technologies require cerebral thrombectomy systems to identify the location and extent of the clot. Thus, the availability of such advanced medical facilities makes hospitals the preferred setting for thrombectomy procedures which is the key factor driving the growth of the market.
Based on Region, in 2022, the North America segment contributed the largest market share in the cerebral thrombectomy systems market owing to the increasing investment in healthcare infrastructure and evolving research and development activities by market players to adopt innovative ways for the production of advanced medical devices. For instance, in February 2022, Cardiovascular Systems, Inc., a U.S.-based medical device company partnered with Innova Vascular, Inc. to develop a full line of thrombectomy devices. Hence, the increasing focus of companies on expanding their product offerings through mergers, acquisitions, and partnerships is expected to drive the growth of the cerebral thrombectomy systems market in the region.
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Competitive Landscape
As per the research, Penumbra, Inc., Terumo Medical Corporation, Medical Devices Business Services, Inc. (Johnson & Johnson), and Stryker are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more efficient, and cost-effective. Further, the cerebral thrombectomy systems market is expected to grow steadily due to increasing investment in the healthcare sector and medical devices. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
Recent Developments
- In May 2022, Abbott secured approval from the US Food and Drug Administration (FDA) for its TactiFlex Ablation Catheter to conduct an ablation procedure for the treatment of atrial fibrillation (AFib).
- In February 2021, Stryker and Brainomix announced a new partnership to expand access to life-saving stroke treatments to provide stroke products to remove blood clots through a procedure called mechanical thrombectomy.
Key Market Takeaways
- By product type, the suction devices segment accounted for the highest market share of 25.50% in the cerebral thrombectomy systems market statistics in 2022.
- Based on the end-user, the ambulatory centers segment is expected to grow at the fastest CAGR over the forecast period.
- Asia Pacific is expected to grow at the fastest CAGR of 5.5% during the forecast period due to the growing healthcare industry in the region.
- In 2022, North America accounted for the highest market share at 41.45% and was valued at USD 1,581.97 million, and is expected to reach USD 2,373.15 million in 2030.
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List of Major Global Cerebral Thrombectomy Systems:
- Penumbra, Inc.
- Terumo Medical Corporation
- Medical Devices Business Services, Inc. (Johnson & Johnson)
- Stryker
- Abbott
- Boston Scientific Corporation
- Medtronic
- Teleflex Incorporated
- Cardiovascular Systems, Inc.
- Angio Dynamics
Global Cerebral Thrombectomy Systems Market Segmentation:
- By Product Type
- Enveloping Coils
- Rheolytic Devices
- Laser-based Devices
- Suction Devices
- Catheters with Balloons
- Snares
- Others
- By End-User
- Hospitals
- Clinics
- Ambulatory Centers
- Academic Research Centers
- Others
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Frequently Asked Questions in the Cerebral Thrombectomy Systems Market Report
- What was the market size of cerebral thrombectomy systems in 2022?
- In 2022, the market size of cerebral thrombectomy systems was USD 3,816.57 million.
- What will be the potential market valuation for cerebral thrombectomy systems by 2030?
- In 2030, the market size of cerebral thrombectomy systems will be expected to reach 5,707.43 million.
- What is the key restraint, hampering the growth of the cerebral thrombectomy systems market?
- The high cost associated with cerebral thrombectomy systems is likely to impede market growth.
- What is the dominating segment in the cerebral thrombectomy systems market, by product type?
- In 2022, the suction devices segment accounted for the highest market share of 25.50% in the overall cerebral thrombectomy systems market.
- Based on current market trends, which geographical region contributed the largest share of the market?
- North America contributed the largest market share in the cerebral thrombectomy systems market.
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