Global Thrombectomy Devices Market is valued at US$ 1.52 Billion in 2022 and it is expected to reach US$ 2.49 Billion by 2029 with a CAGR of 7.3% over the forecast period
Global Thrombectomy Devices Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2023-2029- Increasing prevalence of cardiovascular diseases, advancements in technology ang growing geriatric population are some of the major factors anticipated to drive the growth of the Global Thrombectomy Devices Market within the forecast period.
Thrombectomy devices are medical devices used to remove blood clots from arteries or veins. Blood clots, also known as thrombi, can form in the blood vessels due to a variety of conditions, such as deep vein thrombosis, pulmonary embolism, or acute ischemic stroke. Thrombectomy devices are designed to physically remove or break up the clot, restoring blood flow to the affected area.
There are several types of thrombectomy devices available, including mechanical thrombectomy devices, aspiration catheters, and stent retrievers. Mechanical thrombectomy devices use a catheter with a rotating or oscillating wire to break up and remove the clot. Aspiration catheters use suction to remove the clot, while stent retrievers use a mesh-like device to capture and remove the clot.
Thrombectomy devices are used in minimally invasive procedures, such as endovascular surgery, to remove clots without the need for open surgery. These devices have been shown to improve outcomes in patients with acute ischemic stroke and other thrombotic disorders, reducing the risk of disability or death.
The Covid-19 pandemic had a significant impact on the thrombectomy device market growth. The pandemic led to strict lockdowns, government restrictions, and delayed non-essential surgeries, which slowed down the supply and adoption of thrombectomy devices. Moreover, the pandemic also increased the prevalence of chronic diseases and respiratory failures, leading to a higher risk of thromboembolism and increased demand for thrombectomy procedures.
However, the disruption in the global supply chain and the shortage of skilled healthcare professionals due to the pandemic negatively impacted the market prospects. Despite these challenges, the thrombectomy device market is expected to recover and witness significant growth in the coming years.
The global thrombectomy devices market is segmented on the basis of type, application, end-users and region and country level. on the basis of type, the market has been segmented into aspiration thrombectomy devices, ultrasonic thrombectomy devices, mechanical thrombectomy devices, rheolytic thrombectomy devices, stent retrievers, coil retrievers, basket/brush retrievers and others. on the basis of application, the global thrombectomy devices market is segmented into cardiovascular thrombectomy, neurovascular thrombectomy and peripheral vascular thrombectomy. On the basis of end-users, the market is segmented into hospitals, trauma centres, ambulatory surgical centres and other.
The regions covered in global thrombectomy devices market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global thrombectomy devices market is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.
Some of the key players for global thrombectomy devices market are -
Increasing prevalence of cardiovascular diseases, advancements in technology and growing geriatric population are major factors anticipated to drive the growth of the global thrombectomy devices market for the forecast period.
On e of the major factors driving the global thrombectomy devices market is the increasing prevalence of cardiovascular diseases. Cardiovascular diseases (CVD) are a group of disorders that affect the heart and blood vessels. The most common types of CVD include coronary artery disease, stroke, and peripheral artery disease. For instance; according to the World Health Organization (WHO), CVD is the leading cause of death globally, accounting for an estimated 17.9 million deaths in 2019.
The prevalence of CVD is increasing due to several factors such as unhealthy diets, sedentary lifestyles, smoking, and rising obesity rates. As the incidence of CVD continues to rise, the demand for Thrombectomy Devices is also increasing. Thrombectomy Devices are used to remove blood clots that obstruct blood flow in arteries and veins, thereby restoring blood flow and reducing the risk of stroke or other cardiovascular complications.
In addition, over the years, there have been significant advancements in medical technology that have led to the development of new and innovative thrombectomy devices with improved efficacy and safety features. For instance; Cerenovus is a medical device company that develops and manufactures products for the treatment of neurological disorders, including stroke. In January 2021, the company launched the Emboguard balloon guide catheter for the treatment of acute ischemic stroke. The launch of the Emboguard balloon guide catheter is expected to further drive the growth of the Thrombectomy Devices market, as it provides physicians with a new and innovative tool for the treatment of acute ischemic stroke
Moreover, growing geriatric population is also supplementing the market growth. As people age, they become more susceptible to cardiovascular diseases and related complications, leading to an increase in the demand for Thrombectomy Devices. For instance; according to the World Health Organization, the number of people over the age of 60 is expected to double by 2050, with the greatest increase expected in developing countries. This aging population is more likely to experience health problems such as heart disease, stroke, and peripheral artery disease, which are all conditions that can be treated with thrombectomy devices.
However, the high cost of thrombectomy devices, and the high risk of infection are expected to hamper the market growth of the global thrombectomy devices. In spite of that, partnerships by market players may create more opportunities for the further growth of the market.
North America is expected to dominate the global thrombectomy devices market due to increasing burden of cardiac patients, presence of major market players and technological advancements in this field in this region. The demand for minimally invasive products is significant drivers of the thrombectomy devices market in North America. This region has a high prevalence of cardiovascular diseases, which is leading to an increase in the demand for thrombectomy devices. North America is a significant market for thrombectomy devices, and several factors are driving the market in this region. This region has a high prevalence of cardiovascular diseases, which is leading to an increase in the demand for Thrombectomy Devices.
Moreover, the presence of key market players, such as Medtronic, Stryker, and Penumbra, is also driving the growth of the thrombectomy devices market in North America. These companies are investing heavily in research and development to develop new and innovative Thrombectomy Devices that can provide better clinical outcomes and improve patient outcomes.
For instance; in September 2021, Abbott, announced the acquisition of Walk Vascular, LLC, a commercial-stage medical device company that specializes in developing minimally invasive mechanical aspiration thrombectomy systems. The acquisition was aimed at strengthening Abbott's vascular care portfolio by adding Walk Vascular's minimally invasive thrombectomy technology.
Asia-Pacific is expected to show a significant growth in the thrombectomy devices market owing to the increasing number of geriatric population and rise in disposable income, and highly developing healthcare infrastructure. China, India, and Japan are the major markets for thrombectomy devices in the Asia-Pacific region due to the large population and the high incidence of cardiovascular diseases.
For instance; as per the World Health Organization CVDs such as ischaemic heart disease and cerebrovascular such as stroke account for 17.7 million deaths in 2020 in India and are the leading cause of deaths in India. Furthermore, the improving healthcare infrastructure, increasing healthcare expenditure, and rising awareness about the benefits of thrombectomy procedures in the region are also contributing to the growth of the thrombectomy devices market in the Asia-Pacific region.
Rapid Medical Gained FDA Clearance for the Smallest & Only Adjustable Thrombectomy Device
On July 26th, 2022; Rapid Medical, an Israeli-based medical device company, announced in 2021 that it had received clearance from the U.S. Food and Drug Administration (FDA) for its TIGERTRIEVER 13, the smallest and only adjustable thrombectomy device. The TIGERTRIEVER 13 is designed to remove blood clots from the brain in patients suffering from ischemic stroke, a condition caused by the obstruction of blood flow to the brain.
The TIGERTRIEVER 13 is a next-generation thrombectomy device that offers several advantages over existing devices. It is smaller in size, which allows it to access more distal vessels in the brain and remove smaller clots. Additionally, it is the only thrombectomy device that allows for adjustable retrieval and controlled expansion of the device, which enables physicians to adjust the device to fit the size and shape of the clot, resulting in improved outcomes for patients.
|2016 - 2021
|2022 - 2029
|Market Size in 2022:
|USD 1.52 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2029:
|USD 2.49 Billion
|Tables, Charts & Figures:
Medtronic plc, Stryker Corporation, Johnson & Johnson, Terumo Corporation, Penumbra Inc., Boston Scientific Corporation, Teleflex Incorporated, Phenox GmbH , AngioDynamics Inc., Acandis GmbH and others
|By Type, By Application, By End User
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa.
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