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.
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The key driving factors responsible for the growth of Atherectomy Devices market :
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.
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.
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Atherectomy Devices Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the atherectomy devices market include Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific, C.R.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Atherectomy Devices Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/atherectomy-devices-market/download-sampleMarket DynamicsThe key drivers for atherectomy devices market growth are increasing incidence of peripheral and coronary artery disease and growing inclination towards minimally-invasive surgeries owing to shorter hospital stays and faster recovery.
Increased spending on healthcare, favorable reimbursement policies, surge in research and development activities related to atherectomy, and development of technologically advanced atherectomy devices are expected to boost atherectomy devices market significantly.
Furthermore, partnerships between firms manufacturing atherectomy devices and international distributors and the high success rate of atherectomy devices will also contribute to market growth.
