Market Definition
Atherectomy devices are medical tools used to remove plaque and other blockages from arteries. They are used to treat peripheral artery disease (PAD), which is a condition that occurs when the arteries become narrowed due to a buildup of fatty deposits called plaque. Atherectomy devices are used when other treatments, such as medication and lifestyle changes, have been unsuccessful in improving the patient’s condition.
Market Outlook
Atherectomy devices technology is a type of minimally invasive procedure used to treat coronary artery disease. It involves removing plaque from the walls of the arteries by using a device that has a rotating blade or a laser. This technology has become increasingly popular over the past decade as it is a safe and effective treatment option for those suffering from coronary artery disease.
The key trends in atherectomy devices technology are the development of more advanced and precise devices, improved safety for patients, and increased use of the technology for a wider range of clinical applications.
1. Advanced and precise devices: Newer atherectomy devices are more advanced and precise, allowing for greater accuracy and consistency in the removal of plaque. This is important as it helps to minimize potential complications such as tissue damage and hemorrhage. Newer devices are also able to provide better visualization of the artery, allowing for a better understanding of the anatomy and pathology of the artery. This improved visualization can then be used to guide the device more accurately and safely.
2. Improved safety: Improved safety for patients is another key trend in atherectomy devices technology. Newer devices are designed to minimize the risk of complications such as tissue damage, bleeding, and infection. For example, some devices are designed with a closed-loop system, which allows for more precise control of the device and better monitoring of the procedure. Additionally, newer devices are designed to reduce the risk of device embolization, which can lead to serious complications.
Overall, the key trends in atherectomy devices technology are the development of more advanced and precise devices, improved safety for patients, and increased use of the technology for a wider range of clinical applications. These trends are allowing for more effective and safe treatments for those suffering from coronary artery disease.
Atherectomy devices are used to treat peripheral artery disease (PAD) and coronary artery disease (CAD). The global atherectomy devices market is expected to grow at a CAGR of 7.9 % during the forecast period (2020-2025).
The key drivers of the atherectomy devices market are increasing prevalence of cardiovascular diseases (CVDs), rising geriatric population, technological advancements, and increasing awareness about atherectomy devices.
1.Increasing prevalence of cardiovascular diseases (CVDs): Cardiovascular diseases (CVDs) are the leading cause of death globally. According to the World Health Organization (WHO), CVDs accounted for 17.9 million deaths in 2016, which is 31% of all global deaths. The prevalence of CVDs has been increasing due to the increasing prevalence of risk factors, such as smoking, obesity, physical inactivity, and unhealthy diets. Atherectomy devices are used to treat CVDs, and thus, the increasing prevalence of CVDs is driving the growth of the atherectomy devices market.
2.Rising geriatric population: The rise in the geriatric population is another key driver of the atherectomy devices market. According to the WHO, the geriatric population is expected to reach 1.5 billion by 2050. The elderly population is more likely to suffer from CVDs due to the presence of risk factors, such as hypertension, diabetes, and hyperlipidemia. The rising geriatric population is expected to increase the demand for atherectomy devices.
3.Technological advancements: The atherectomy devices market is driven by the technological advancements in the field of atherectomy devices. The manufacturers of atherectomy devices are continuously developing new devices with enhanced features and improved efficiency. For instance, in March 2019, Boston Scientific Corporation launched the VISIONFX atherectomy system, which is a device that enables physicians to perform atherectomy procedures with improved precision and efficiency.
Atherectomy devices are minimally-invasive medical devices used to remove plaque and calcium from the walls of blood vessels, in order to improve blood flow. The overall market for atherectomy devices is driven by the increasing prevalence of cardiovascular diseases such as coronary artery disease, peripheral artery disease, and stroke. However, the market is also faced with several restraints and challenges.
One of the major challenges in the atherectomy devices market is the high cost of these devices. The cost of these devices can be prohibitive for certain hospitals and healthcare systems, especially in developing countries. Furthermore, the cost of the procedure itself is relatively high, as it requires specialized medical personnel and equipment. This limits the accessibility of the procedure to certain patient populations, and reduces the overall market size.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
The market can be segmented by product, application, end-user, and region. By Product, the market can be divided into Directional, Rotational, Laser, and Orbital. By Application, the market can be divided into Peripheral, Cardiovascular, and Neurovascular. By End-User, the market can be divided into Hospitals, Surgical Centers, ASCs, Research Laboratories, and Academic Institutes. By Region, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Major Players
The market includes players such as Boston Scientific Corporation (US), Cardiovascular Systems, Inc. (US), Medtronic (US), Avinger (US), Koninklijke Philips N.V(NL), BD (Becton, Dickinson and Company (US), Abbott (US), Cordis (US), and Terumo Medical Corporation (JP).
Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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