North America to dominate the Global Atherectomy Devices Market till 2026
Rise in demand for minimally invasive procedures and growing healthcare expenditure is expected to drive the global atherectomy devices market in the forecast period.
According to TechSci Research report, “Global Atherectomy Devices Market By Product (Directional, Rotational, Laser, Orbital) By Application (Peripheral, Cardiovascular, Neurovascular) By End Users (Hospitals & Surgical Centres, Ambulatory Care Centres, Others) By Company, By Region, Forecast & Opportunities, 2026”, The global atherectomy devices market is expected to witness steady growth for the upcoming five years. Atherectomy is a medical procedure performed to eliminate the presence of atherosclerotic plaque from diseased arteries. Atherosclerotic plaques occur either in the peripheral arterial vasculature or coronary and have different features depending on the type of plague. Atherectomy devices are made in different designs to suit various requirements such as shaving, cutting, or vaporizing of plagues to eliminate different type of plagues. Atherectomy is widely used for treatment of peripheral arterial disease and coronary diseases and is used as an alternative to angioplasty. Rise in the old age population is accelerating the demand for atherectomy devices as with increasing age the immunity level goes down which makes them vulnerable in getting affected with cardiovascular, and neurological diseases.
The COVID-19 outbreak across the world which has been declared as pandemic by World Health Organization has affected several countries adversely. Leading authorities-imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus affected patients started suffering from shortness of breath along with coughing and sneezing. Leading authorities increased the capacity of hospitals as a greater number of patients were getting affected daily and getting admitted into the hospital facilities. Disruption in supply chain was observed which led to unavailability of raw materials. Patients were reluctant to visit hospital facilities which led to lower non-essential surgical procedures being performed.
However, high cost of atherectomy devices may create hindrance in the global atherectomy devices market growth.
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Global atherectomy devices market is segmented into product, application, end users, regional distribution, and company. Based on product, market can be divided into directional, rotational, laser, and orbital. The directional product segment is expected to dominate the atherectomy devices market for the forecast period, 2022-2026. Ongoing technological advancements along with high demand for minimally invasive procedure is driving the market demand. Surge in presence of medical reimbursements for availing vascular treatment procedures from healthcare facilities and its associated clinical benefits such as directional atherectomy do not have the presence of barotrauma which lowers the risk of dissection and minimizes the risk of neointimal hyperplasia. Based on application, market can be fragmented into peripheral, cardiovascular, and neurovascular. The peripheral application segment is expected to hold significant share for the next five years due to use of atherectomy for PVD treatment which is considered to have therapeutic efficient and highly effective in nature. Surge in availability of medical reimbursements is increasing the affordability of atherectomy procedures thereby fueling the demand for atherectomy devices. Based on end users, market can be divided into hospitals & surgical centres, ambulatory care centres, and others. The hospitals & surgical centres end user segment is expected to witness substantial growth in the predicted period due to continuous development of healthcare infrastructure. Huge patient in-flow into the hospital facilities and availability of advanced technology and equipment along with skilled healthcare professionals is accelerating the growth of hospital segment.
B. Braun Melsungen AG, Abbott Laboratories, Inc., Koninklijke Philips N.V., Boston Scientific Corporation, Medtronic plc, Becton, Dickinson, and Company (C.R. Bard), Terumo Corporation, Cardinal Health Inc., AngioDynamics Inc., Avinger Inc. are the leading players operating in global atherectomy devices market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several atherectomy devices manufacturers are coming up with their technologically advanced offerings.
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“Market players are adopting marketing strategies to improve the brand image and widen their product reach to boost the sales of atherectomy devices. Rise in the number of clinical trials being performed to increase the device efficiency and performance such as EASE and DEFINITIVE LE are some of the clinical trials are considered highly effective due to accurate results is anticipated to propel the growth of the atherectomy devices market until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Atherectomy Devices Market By Product (Directional, Rotational, Laser, Orbital) By Application (Peripheral, Cardiovascular, Neurovascular) By End Users (Hospitals & Surgical Centres, Ambulatory Care Centres, Others) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of global atherectomy devices market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global atherectomy devices market.
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