Thrombectomy Devices Market Size By Product Type (Ultrasound-assisted Thrombectomy Devices, Rotational Thrombectomy Devices, Aspiration Thrombectomy Devices, Mechanical/Fragmentation Thrombectomy Devices, Clot Extraction Catheter, Stent Retrievers, Microc

Thrombectomy Devices Market Size By Product Type (Ultrasound-assisted Thrombectomy Devices, Rotational Thrombectomy Devices, Aspiration Thrombectomy Devices, Mechanical/Fragmentation Thrombectomy Devices, Clot Extraction Catheter, Stent Retrievers, Microcatheters), By Application (Peripheral Thrombectomy, Neurovascular Thrombectomy, Cardiovascular Thrombectomy), By End User (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028

The thrombectomy devices market is likely to observe notable growth through 2028 on account of growing prevalence of cardiovascular diseases across the globe.

Recently, increasing initiatives by industry players in key regions to extend their market presence have augmented market growth significantly. For instance, in March 2022, Medtronic, a key medical device firm, launched the first-ever dedicated clinical registry in India dubbed PRAAN (Prospective Registry for Assessment of Acute Ischemic Stroke Patients Treated with Neurothrombectomy Devices in India). It would help examine clinical outcomes in patients treated with the company’s revascularization devices, advancing thrombectomy studies and innovations.

The global thrombectomy devices market has been classified on the basis of product type, application, end-use, and region. Based on product type, the thrombectomy devices industry has been fragmented into stent retrievers, ultrasound-assisted thrombectomy devices, mechanical/fragmentation thrombectomy devices, microcatheters, clot extraction catheter, rotational thrombectomy devices, aspiration thrombectomy devices, and others.

Among these, the ultrasound-assisted thrombectomy devices segment is projected to exhibit a CAGR of about 6.5% between 2022 and 2028. Enhanced effectivity of these devices among intermediate risk patients and technological advancements in products are set to contribute to segmental growth.

In terms of application, the thrombectomy devices market has been categorized into cardiovascular thrombectomy, peripheral thrombectomy, and neurovascular thrombectomy. The cardiovascular thrombectomy segment was valued at approximately USD 900 million in 2021 and is projected to grow at a steady pace over 2022-2028 owing to resurgence of cardiovascular diseases. Shifting consumer preferences for minimally invasive procedures, coupled with broadening therapeutic applications of thrombectomy devices, are likely to propel product uptake in cardiovascular thrombectomy.

By end-use, the thrombectomy devices market has been bifurcated into hospitals, ambulatory surgical centers, and others. In 2021, the hospitals segment surpassed USD 720 million in revenue and is primed to witness significant growth over the review timeline driven by the developing healthcare infrastructure. Increasing availability of skilled workforce and surging adoption of advanced medical equipment are also expected to propel the growth of the segment over the forecast period.

From the regional perspective, the Latin America thrombectomy devices market is anticipated to grow at a CAGR of about 6.1% from 2022 to 2028. Mounting focus of key market players on enhancing their access in emerging markets across LATAM, along with growing awareness pertaining to cardiovascular diseases and associated therapies, is speculated to foster regional market development.

Latin American countries, including Bolivia, Costa Rica, Ecuador, Colombia, Argentina, Cuba, Brazil, El Salvador, Dominican Republic, Chile, and others, have joined the globally recognized HEARTS initiative led by PAHO (Pan American Health Organization) and other Health Ministries. The initiative envisions a much-improved healthcare delivery system and widespread awareness of cardiovascular diseases. Such measures by governments across the region are poised to fuel regional market growth in the future.