According to the latest report by IMARC Group, titled "Atherectomy Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global atherectomy devices market reached a value of US$ 877 Million in 2021. Atherectomy devices refer to minimally invasive (MI) instruments that are utilized for removing plaque and thrombus from diseased arteries. They are widely used for effectively treating both coronary and peripheral arterial diseases. Usually consisting of a rotating blade within a tubular catheter attached to a battery-operated motor, they commonly assist in re-establishing the blood flow in arteries by drilling, shaving, grinding, sanding and vaporizing plaque and calcifying lesions or excessive cellular materials. As a result, these devices are extensively used for various applications across hospitals, clinics, surgical centers and ambulatory care centers.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Atherectomy Devices Market Trends:
The market is primarily driven by the increasing incidences of peripheral artery diseases (PADs) and coronary artery diseases (CADs) on the global level, along with numerous other medical ailments, such as obesity, diabetes, cardiovascular disorders and atherosclerosis. Since atherectomy devices are widely used in the treatment of these medical conditions, this is providing a thrust to the market growth. Along with this, there has been a considerable rise in the geriatric population, who are more likely to suffer from numerous chronic conditions, which is acting as a major growth-inducing factor. The growing preference for minimally invasive (MI) surgeries among both the patients and the healthcare professionals due to the lesser risks and improved outcomes associated with these procedures is acting as another key factor contributing to the market growth. Furthermore, the market is driven by the increasing usage of drug-coated balloons (DCB) in atherectomy procedures, along with the directional atherectomy with anti-restenosis therapy (DAART) to improve the patency in long lesions as well as lesions with severe calcifications. Some of the other factors contributing to the market growth include the rising number of strategic mergers and acquisitions (M&As) by players and the considerable improvements in the overall healthcare infrastructure. On account of the aforementioned factors, the market is expected to grow at a CAGR of 5.2% during 2022-2027.
- On the basis of the product, the market has been classified into directional atherectomy, orbital atherectomy, photo-ablative atherectomy, rotational atherectomy and support devices.
- Based on the application, the market has been divided into peripheral vascular, cardiovascular and neurovascular.
- On the basis of the end user, the market has been categorized into hospitals, ambulatory surgery centers, and research laboratories and academic institutes.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Abbott Laboratories, Avinger, Inc., B. Braun Melsungen AG, Biomerics LLC, BIOTRONIK, Boston Scientific Corporation, C.R. Bard (Becton, Dickinson and Company), Cardinal Health, Inc, Koninklijke Philips N.V., Medtronic, Minnetronix, Inc., Straub Medical AG (Becton, Dickinson and Company), and Terumo Corporation.
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