The global AtherectomyDevices 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.
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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.
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.
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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.
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
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