Blood Clot Retrieval Devices Market

Market Overview: 

The global blood clot retrieval devices market size reached US$ 1.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.8 Billion by 2032, exhibiting a growth rate (CAGR) of 14.22% during 2024-2032. The escalating incidences of stroke and other vascular diseases among the masses, the growing shift toward minimally invasive procedures over traditional open surgeries among healthcare providers, and continuous technological advancements are some of the major factors propelling the market.

Blood clot retrieval devices are innovative medical tools used in the management of acute ischemic strokes, a type of stroke caused by a clot blocking blood flow to the brain. These devices, such as stent retrievers and aspiration catheters, are deployed through a minimally invasive procedure known as mechanical thrombectomy. Under imaging guidance, the device is maneuvered to the clot site via the vascular system, starting from a small incision often in the groin area. Once in place, the device either entraps the clot within a stent-like structure or applies suction to remove the clot, thereby restoring blood flow. The effectiveness of clot retrieval devices in rapidly restoring cerebral blood flow can significantly reduce the neurological damage caused by ischemic strokes, potentially leading to improved patient outcomes. However, their usage is not without risk and is typically considered when other less invasive treatment options, like clot-dissolving drugs, are not suitable or fail to resolve the situation.

The aging population is a significant driver for the blood clot retrieval devices market. With the global population getting older, the incidence of stroke and other vascular diseases tends to increase. As a result, there is a growing need for efficient clot retrieval devices to cater to the healthcare demands of the aging population and manage acute ischemic strokes effectively. Along with this, patients and healthcare providers are increasingly favoring minimally invasive procedures over traditional open surgeries, and this trend extends to clot retrieval procedures as well. Minimally invasive techniques offer numerous benefits, including shorter hospital stays, quicker recovery times, reduced risk of complications, and improved patient comfort. In addition, the presence of favorable reimbursement policies and supportive healthcare regulations is another key market driver for blood clot retrieval devices. Many countries have recognized the cost-effectiveness and positive clinical outcomes associated with clot retrieval procedures, leading to the inclusion of these devices in their healthcare reimbursement systems. Moreover, the escalating number of collaborations among medical device manufacturers, research institutions, and healthcare providers is creating a positive market outlook.

Blood Clot Retrieval Devices Market Trends/Drivers:

Growing Incidence of Stroke and Vascular Diseases

One of the primary market drivers for blood clot retrieval devices is the increasing incidence of stroke and vascular diseases across the globe. Stroke is a leading cause of disability and mortality, affecting millions of individuals annually. Along with this, the rise in lifestyle-related risk factors such as sedentary lifestyles, unhealthy diets, and smoking, coupled with an aging population, has contributed to the rise in stroke cases. Moreover, vascular diseases like deep vein thrombosis (DVT) and pulmonary embolism (PE) are also prevalent, further driving the demand for effective clot retrieval solutions. As healthcare providers and governments focus on reducing the burden of these conditions, there is a growing need for advanced clot retrieval devices to improve patient outcomes and enhance the overall quality of stroke and vascular care.

Increasing Awareness and Education

Growing awareness and education about the importance of early intervention in stroke and vascular diseases have significantly contributed to the demand for blood clot retrieval devices. Public health campaigns, medical conferences, and educational initiatives have been successful in educating both the general public and healthcare professionals about the signs and symptoms of stroke and the benefits of timely treatment. As a result, more patients are seeking immediate medical attention upon experiencing stroke symptoms, increasing the pool of potential candidates for clot retrieval procedures. Similarly, healthcare practitioners are becoming more proficient in identifying appropriate cases for clot retrieval, leading to a rise in the adoption of these devices for treating acute ischemic strokes.

Technological Advancements and Innovations

The constant evolution of medical technology and innovations in blood clot retrieval devices is another significant market driver. Manufacturers and researchers are continually working to develop more efficient, minimally invasive, and safer devices. Advancements in imaging technologies, such as 3D rotational angiography and advanced computed tomography (CT), have enabled better visualization of clots, leading to more accurate and precise retrieval procedures. Additionally, the integration of robotics and artificial intelligence (AI) has the potential to revolutionize clot retrieval procedures by enhancing procedural efficiency and reducing the risk of complications. As these technological advancements gain momentum, healthcare providers are increasingly adopting these devices to stay at the forefront of stroke and vascular care.

Blood Clot Retrieval Devices Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global blood clot retrieval devices market report, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on stroke type, device type, and end user.

Breakup by Stroke Type:

• Ischemic Stroke (Blood Clot)
• Hemorrhagic Stroke (Rupturing of Arteries)
• Transient Ischemic Attack
   

Ischemic stroke (Blood Clot) dominates the market

The report has provided a detailed breakup and analysis of the market based on the stroke type. This includes ischemic stroke (blood clot), hemorrhagic stroke (rupturing of arteries), and transient ischemic attack. according to the report, ischemic stroke (Blood Clot) represented the largest segment.

The market for blood clot retrieval devices in ischemic stroke type is primarily driven by the increasing incidence of ischemic stroke, which accounts for the majority of stroke cases. As the aging population expands and lifestyle-related risk factors persist, the prevalence of ischemic stroke continues to rise. Along with this, advancements in medical technology and innovations in clot retrieval devices have led to improved efficacy and patient outcomes, driving healthcare providers to adopt these cutting-edge solutions. Additionally, growing awareness among the general public and healthcare professionals about the benefits of timely intervention in ischemic stroke cases has increased the number of eligible patients for clot retrieval procedures.

On the contrary, the incidence of hemorrhagic stroke, characterized by the rupturing of arteries and bleeding into the brain, is a significant driver for these devices. Hemorrhagic strokes account for a substantial portion of all stroke cases and are associated with high morbidity and mortality rates. As healthcare providers and governments focus on improving stroke care, there is a growing need for advanced clot retrieval devices to effectively manage hemorrhagic stroke cases. Moreover, continuous advancements in medical technology and interventional radiology techniques have led to the development of innovative and minimally invasive devices that can precisely target and remove blood clots, improving patient outcomes and reducing complications.

Breakup by Device Type:

• Mechanical Embolus Removal Devices
• Penumbra Blood Clot Retrieval Devices
• Stent Retrievers
• Aspiration Device
• Ultrasound Assisted Devices
   

Stent retrievers hold the largest share in the market

A detailed breakup and analysis of the market based on the device type has also been provided in the report. This includes mechanical embolus removal devices, penumbra blood clot retrieval devices, stent retrievers, aspiration device, and ultrasound assisted devices. According to the report, stent retrievers accounted for the largest market share.

Stent retrievers are highly effective in treating ischemic strokes caused by blood clots. They are designed to mechanically remove blood clots from blocked arteries in the brain, restoring blood flow and minimizing potential brain damage. The proven efficacy of stent retrievers in stroke treatment has led to their widespread use as a standard of care. Also, manufacturers are continually investing in research and development to enhance stent retriever designs and materials, improving their performance and safety. This commitment to innovation has further strengthened its position in the market.

On the other hand, Penumbra's innovative technology and dedication to research and development have resulted in the creation of highly effective and specialized devices for blood clot retrieval. These devices have demonstrated superior recanalization rates and positive patient outcomes, earning the trust of healthcare providers and driving their adoption.

Breakup by End User:

• Hospitals
• Diagnostic Centers
• Clinics
• Ambulatory Surgical Centers
   

Hospitals dominates the market

The report has provided a detailed breakup and analysis of the market based on the end user. This includes hospitals, diagnostic centers, clinics, and ambulatory surgical centers. According to the report, hospitals represented the largest segment.

The hospitals' end use segment is a major driver for the blood clot retrieval devices industry. Hospitals serve as primary care centers for patients suffering from stroke and vascular diseases, making them the key purchasers of clot retrieval devices. As the incidence of these conditions continues to rise, hospitals are increasingly investing in cutting-edge medical technologies to enhance patient care and outcomes. Along with this, the demand for blood clot retrieval devices is further bolstered by the growing awareness among healthcare professionals about the benefits of mechanical thrombectomy in treating acute ischemic strokes and other clot-related disorders.

On the contrary, diagnostic centers play a crucial role in the early detection and diagnosis of stroke and vascular diseases, leading to an increasing number of patients being referred for clot retrieval procedures. As these centers focus on providing comprehensive and specialized diagnostic services, the demand for advanced clot retrieval devices is rising to complement their diagnostic capabilities. Diagnostic centers are recognizing the importance of offering comprehensive stroke and vascular care solutions, and the integration of blood clot retrieval devices allows them to expand their service portfolio and enhance patient outcomes.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America exhibits a clear dominance, accounting for the largest blood clot retrieval devices market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

The blood clot retrieval devices industry in North America is driven by the region has high prevalence of stroke and vascular diseases, particularly in the aging population. Along with this, the increasing incidence of these conditions is influencing the demand for advanced clot retrieval devices to address the growing healthcare needs. Additionally, North America is at the forefront of medical technology and innovation, with significant investments in research and development. This has resulted in the creation of state-of-the-art blood clot retrieval devices with improved efficacy and safety profiles, attracting healthcare providers to adopt these cutting-edge solutions. Moreover, a well-established healthcare infrastructure, along with favorable reimbursement policies, supports the adoption of advanced medical technologies, including clot retrieval devices, further boosting market growth.

On the other hand, Europe boasts a strong healthcare infrastructure and high-quality medical services, encouraging the adoption of innovative medical technologies. In confluence with this, escalating awareness among healthcare professionals about the benefits of mechanical thrombectomy and the proven positive outcomes has fueled the acceptance and use of these devices. Moreover, favorable reimbursement policies and supportive regulatory frameworks in many European countries have facilitated the accessibility and adoption of clot retrieval devices, further driving market growth.

Competitive Landscape:

The global blood clot retrieval devices market is experiencing significant growth due to the launch of new materials, technologies, and design approaches to create more advanced and efficient clot retrieval devices. Along with this, companies are introducing cutting-edge devices that meet the specific needs of healthcare professionals and patients. Product launches and upgrades are often accompanied by clinical trials and studies to demonstrate the devices' effectiveness and gain regulatory approvals. In addition, the escalating collaborations of manufacturers with research institutions, medical centers, and other industry players to leverage expertise, resources, and knowledge is positively influencing the market. Apart from this, continuous improvement and post-market surveillance of companies' activities to monitor device performance, identify potential issues, and implement necessary enhancements are favorably impacting the market.

The report has provided a comprehensive analysis of the competitive landscape in the global blood clot retrieval devices market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Abbott Laboratories
• AngioDynamics, Inc.
• Argon Medical Devices, Inc.
• Boston Scientific Corporation Incorporated
• Johnson & Johnson
• Medtronic plc
• Penumbra Inc.
• Stryker Corporation
• Terumo Corporation

Blood Clot Retrieval Devices Market Report Scope:

Key Questions Answered in This Report:

• How has the global blood clot retrieval devices market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global blood clot retrieval devices market?
• What is the impact of each driver, restraint, and opportunity on the global blood clot retrieval devices market?
• What are the key regional markets?
• Which countries represent the most attractive blood clot retrieval devices market?
• What is the breakup of the market based on the stroke type?
• Which is the most attractive stroke type in the blood clot retrieval devices market?
• What is the breakup of the market based on the device type? 
• Which is the most attractive device type in the blood clot retrieval devices market?
• What is the breakup of the market based on the end user?
• Which is the most attractive end user in the blood clot retrieval devices market?
• What is the competitive structure of the global blood clot retrieval devices market?
• Who are the key players/companies in the global blood clot retrieval devices market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the blood clot retrieval devices market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global blood clot retrieval devices market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the blood clot retrieval devices industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.