Market Outline: Global Atherectomy Devices Market
Atherectomy is a minimally invasive surgery to remove the atherosclerotic plaque from arteries. Atherosclerotic plaque either localized in coronary or peripheral atrial vasculature and many have different characteristics based on the texture. Atherosclerotic devices are used for atherectomy. There are various atherectomy devices which are designed based on their mechanisms such as cut, save, sand or vaporize the plaques and have different indications. Atherectomy is an alternative to angioscopy and it is also used for the coronary artery disease.
Market Dynamics: Global Atherectomy Devices Market
The primary driver for the global atherectomy devices market is significant rise in peripheral vascular diseases around the globe. In addition, rise in demand for the minimally invasive devices such as atherectomy devices which shortens the recovery time and provide effective treatment expected to boost the global atherectomy devices market over the forecast period. Furthermore, technological advancements such as emergence of laser atherectomy and rise in aging population who has high risk of getting atherosclerosis are expected to bolster the market share over the forecast period. However, presence of the alternative treatments expected to hamper the market growth over the projected period.
Market Scope: Global Atherectomy Devices Market
Global atherectomy devices market is segmented based on, technology, condition, and end user
Based on technology, global atherectomy devices market is segmented into
- Orbital Atherectomy
- Rotational Atherectomy
- Orbital Atherectomy
- Directional Atherectomy
Based on Indication, global atherectomy devices market is segmented into
- Peripheral Artery Disease
- Coronary Artery Disease
Based on end user, global atherectomy devices market is segmented into
- Ambulatory Surgical Centers
Market Summary: Global Atherectomy Devices Market
Global atherectomy devices market is expected to have significant growth rate over forecast period owing to the increase in prevalence of the heart diseases around the world. According to World Health Organization, due to cardiovascular diseases, 17.7 Mn people died in the year 2015, and 7.4 Mn were due to coronary heart diseases. Market is consolidated due to the presence of the strong players. Companies are using the strategies such as acquisitions and collaborations to increase their market share. For instance, In May 2014, Volcano Corporation (subsidiary of Koninklijke Philips N.V.) acquired the atherectomy device producer, AtheroMed, Inc. to strengthen their market share. Similarly, In May 2014, Boston Scientific Corporation strengthened its product portfolio in peripheral vascular devices by the acquisition of Interventional business of Bayer AG for $ 415 Mn in cash. Furthermore, market players also investing in the R&D to develop the new and invasive products by adopting the new technologies.
Regional Analysis: Global Atherectomy Devices Market
Geographically Atherectomy Devices market is divided into five key regions, i.e. North America, Europe, Asia- Pacific, Latin America, and The Middle East and Africa. North America atherectomy devices market is expected to have significant growth rate owing to the adaptation of minimally invasive technologies for the treatment of diseases and prevalence of the heart diseases such as coronary artery disease and peripheral artery disease. Europe atherectomy devices market is expected to grow at notable rates owing to the new product launches and public awareness, technological advancements, and adaptation of minimally invasive devices. For instance, In April 2017, Ra Medical Systems launched DABRA atherectomy system in Europe, the system was received CE mark in October 2016. Asia Pacific atherectomy devices market is projecting the lucrative growth opportunity owing to the developing healthcare infrastructure and prevalence of the artery diseases. Furthermore, rise in aging population and company expansion to emerging countries such as India and China expected to boost the market growth in Asia Pacific region.
Competition Assessment: Global Atherectomy Devices Market
Key player’s profiles in global Atherectomy Devices market include
- Boston Scientific Corporation (U.S.)
- R. Bard, Inc. (U.S.)
- Abbott Laboratories (U.S.)
- Koninklijke Philips N.V. (Volcano Corporation) (Netherlands)
- Medtronic Plc (U.S.)
- Cordis Corporation (Cardinal Health, Inc.) (U.S.)
- Jude Medical, Inc. (U.S.)
- Terumo Medical Corporation (TERUMO CORPORATION) (Japan)
- Spectranetics International BV (Netherlands)
- Avinger, Inc. (U.S.)
- Ra Medical Systems Inc. (U.S.)
- Cardiovascular Systems, Inc. (U.S.)
Notable Market Developments: Global Atherectomy Devices Market
- In September 2017, Avinger, Inc. has received CE Mark for its Pantheris Lumivascular atherectomy System to treat in-stent restenosis.
- In March 2017, Cardiovascular Systems, Inc. got approval for its Diamondback 360 Coronary OAS Micro Crown, an orbital atherectomy system by Japan’s Ministry of Health, Labor and Welfare (MHLW).
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015 – 2019) and Forecast (2020 – 2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market