U.S. Peripheral CTO Device Market - 2022-2029

U.S. Peripheral CTO Device Market - 2022-2029

Market Overview

U.S. Peripheral CTO Device Market size was valued at US$ YY million in 2021 and is estimated to reach US$ YY million by 2029, growing at a CAGR of 6.5% during the forecast period (2022-2029).

Chronic total occlusions (CTOs) are a challenging lesion subset in the peripheral circulation. CTOs, particularly long or heavily calcified, have been the domain of surgeons for distal bypass. Although surgery is still an option in some patients, the explosion of crossing technologies and atherectomy devices has allowed several endovascular specialists to tackle these lesions with greater success.

Market Dynamics

The U.S. peripheral CTO device market is growing due to the major driving forces being the increasing number of regulatory approvals and pipeline products.

The increasing number of regulatory approvals is expected to boost market growth.

The increasing number of regulatory approvals is expected to boost the market. For instance, on April 8, 2020, The US Food and Drug Administration (FDA) granted a 510(k) clearance for Israel-based Nitiloop’s NovaCross CTO Microcatheter, which is intended for the treatment of chronic total occlusion (CTO) before PTCA or stent intervention, also, on February 23, 2022, Teleflex CTO PCI specialty catheters and guidewires received FDA clearance for expanded indication. Furthermore, the increasing procedural success with CTO devices is fueling market growth. Such as, an international multi-center registry of chronic total occlusion (CTO) percutaneous coronary intervention (PCI) was presented on May 20, 2022, with late-breaking clinical research at the Society for Cardiovascular Angiography & Interventions (SCAI) 2022 Scientific Sessions, and the findings of which show an increase in the success and efficiency of CTO PCI without an increase in major adverse cardiac events (MACE).

The availability of substitute products hampers the market growth.

However, the increasing number of substitute products, such as B-Laser Atherectomy System for Peripheral Artery Disease (PAD) and PACT Admiral Drug-Coated Balloon (DCB), is restraining the growth of the market.

Industry Analysis

The U.S. peripheral CTO device market report, will provide an in-depth analysis of the market based on various industry factors such as porter`s five forces, innovations, new product launches, pricing, Etc.

Segment Analysis

The crossing CTO device segment is predicted to dominate the market during the forecast period (2022-2029).

The crossing CTO device segment is expected to grow at a high rate over the forecast period (2022-2029). A Crossing CTO device is a unique system designed to achieve intraluminal penetration over long occlusions. It is approved for coronary and peripheral applications. The generator is controlled with a footswitch, a high-frequency transducer, and the Crosser catheter. The increasing number of clinical studies on crossing CTO devices and U.S. FDA approvals are among the key factors fueling the U.S peripheral CTO device market growth. For instance, on March 6, 2020, Reflow Medical was granted U.S. FDA 510(K) clearance for an expanded indication for the Wingman catheter to cross chronic total occlusions (CTOs) in peripheral artery disease. Furthermore, SoundBite Medical Solutions, Inc. has started recruiting for a clinical study on SoundBite Crossing System – Peripheral. Thus, the increasing number of clinical trials on crossing CTO devices and new product approvals ensure the crossing CTO device segment dominance over the market.

Competitive Landscape

The major players operating in the U.S. peripheral CTO devices market are Medtronic, Boston Scientific Corporation, Avinger, Inc., Cardinal Health, Koninklijke Philips N.V., Cook Medical Incorporated, C.R. Bard, Baylis Medical Company, BTG Vascular, and Soundbite Medical Solutions. The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the U.S. peripheral CTO devices market growth. For instance, AUG 31, 2022, Medtronic partnered with BioIntelliSense for exclusive U.S. distribution of multi-parameter wearables for continuous remote patient monitoring from in-hospital to home. Also, AUG 30, 2022, Medtronic acquired Affera.

Medtronic, Plc.

Overview:

Medtronic plc is Ireland based American medical device company. Medtronic was founded in 1949 and is headquartered in Minneapolis, Minnesota, United States. Medtronics deals with four different businesses: the Minimally Invasive Therapies Group, the Diabetes Group, the Restorative Therapies Group, and the Cardiac and Vascular Group.

Product Portfolio:

Medtronic plc’s product portfolio for U.S. Peripheral CTO Device has Viance Crossing Catheter, Enteer Re-Entry System.

The U.S. peripheral CTO device market report, would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.