Atherectomy Devices Market To Witness Significant Growth Due To Rising Life Expectancy, Declining Fertility Rates Till 2025 | Million Insights

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According to new report available with Million Insights, increasing prevalence of Peripheral artery disease (PAD) and Deep vein thrombosis (DVT) is expected to drive the atherectomy devices market growth over the forecast period.

The global Atherectomy Devices Market size was valued at USD 488.04 million in 2016 and is anticipated to reach USD 894.69 million by 2025, with CAGR of 6.97% over the forecast period. Increase in prevalence of Peripheral artery disease (PAD) and Deep vein thrombosis (DVT) is expected to drive the market growth over the forecast period. Increase in aging population in the US and in economically developed countries resulting in high requirement of medical devices for chronic illness. This is expected to escalate the market growth of Atherectomy devices. Major factors such as rising life expectancy declining fertility rates play a major role in market growth in the foreseeable future.

Change in lifestyle trends and eating habits increase Consumption of cholesterol and fatty foods among individuals and lack of exercise which has been a major reason for coronary artery disease and high risk of heart attacks. Depending on the severity of the health issue atherectomy devices are used in the surgery by the doctors. Diabetes, high blood pressure, obesity and smoking causes the blood arteries to marrow and limit the blood supply to the heart. It is estimated that 382 billion people throughout the world have diabetes. Environmental factors such as foods, viruses, toxins and unbalanced work life play a role in development of diabetes. Growing number of patients with these vascular diseases are expected to proliferate the demand for atherectomy devices.

Adopting advanced technology by using laser, ultraviolet radiation and recombinant issue technology and 3D image generation provides a better scope for the market. Added benefits such as minimal incisions, higher surgical restoration rate, low postoperative complications increase more patients opting for atherectomy devices. New technological advancements and the recent FDA approval of Two drug coated balloons are increasing atherectomy procedural volume and driving growth in the demand for atherectomy devices.

Full Research Report On Global Atherectomy Devices Market Analysis available at: https://www.millioninsights.com/industry-reports/atherectomy-devices-market-size

Recalls of medical devices has been a major issue in pharmaceutical industry. Every device should maintain the standard quality and safety measures set by the Food and Drug Administration (FDA). All the manufacturing firms should ensure that the products are safe and do not endanger the end consumer.

Athrectomy devices face a tough competition from Catheter (Tornus) which has been developed for chronic total occlusion recanalization. However, Catheter has a lower success rate of only 77% as compared to the traditional atherectomy devices with 95%. Tornus catheter is also associated with longer procedural duration time with 144 minutes versus the atherectomy devices 115 minutes.

Lack of product differentiation forms a major challenge in the atherectomy market. Most companies trying to enter the market find it hard to overcome the product differentiation because they require high investment and lack resources to create products that can compete with the existing ones. High cost and limited awareness in certain regions of the world act as a restraint for the market growth.

Atherectomy technique is a popular substitute for stents and angioplasty treatments. In stents and angioplasty, the deposited plaque is pushed inside the blood vessel, however in atherectomy the plaque is removed by using surgical methods. The technique has advantages over the other methods by providing increased wound healing rate

The market has been classified on the basis of its device functions such as rotational, orbital, excimer laser, excisional, directional and Jetstream atherectomy. The largest share of the market is occupied by orbital and directional atherectomy due to minimal invasive treatment, blood flow restoration, reduction in procedure time and application in more complex cases. Market players are coming with better techniques and products to meet the requirement of the consumers.

The market is segmented on the basis of geography such as North America, Europe, Asia pacific. North America is the leading player in the market followed by Europe. Peripheral artery disease affects nearly 10 million people and around 720,000 die every year due to heart attack in US making it the potential market for the devices. Higher number of surgeries are being performed in US and Europe due to better awareness among people and also availability of resources making them the leading regions in the market.

Asia pacific can be a potential market for atherectomy devices since countries such as India and china possess the largest number of cardiac patients with an annual incidence of 7 million strokes. Tobacco consumption is rapidly increasing in south Asian countries in conjunction with economic expansion increasing their risk of artery diseases.

Reduction of abdominal obesity through lifestyle measures can improve all components of the metabolic syndrome and likely delay the development of both diabetes and atherosclerosis. Beyond lifestyle intervention, optimal management of risk factors to evidence-based targets is essential.

High awareness of health problems caused due to change in lifestyle and optimal management of risk factors can improve the metabolic syndrome and likely reduce the development of both diabetes and atherosclerosis and hence reducing the demand for the atherectomy devices.

The major companies of the market include Bayer AG, Cardiovascular systems, St. Jude medical, Boston scientific corporation, Abbott laboratories, C.R Bard Inc., Volcano Corporation. The competition in this market usually depends on the technology used in manufacturing of the devices and also the pricing strategies. Medtronic’s is leading competitor in peripheral atherectomy devices. Medtronic acquired Covedian in 2015 and is expected to remain in the leading position however it will face increasing competition from cardiovascular systems Inc.

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Market Segmentation

Atherectomy Devices Type Outlook (Market Revenue in USD Million, 2014 – 2025)
    • Directional atherectomy devices
    • Rotational atherectomy devices
    • Orbital atherectomy devices
    • Laser atherectomy devices

Atherectomy Devices Regional Outlook (Market Revenue in USD Million, 2014 – 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • UK
        • Germany
    • Asia Pacific
        • China
        • Japan
    • Latin America
        • Brazil
    • Middle East and Africa
        • South Africa

Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/medical-devices

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