Atherectomy Devices Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis

Atherectomy Devices Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis

Global Atherectomy Devices Market will reach US$ 1.8 Billion by 2027. Atherectomy is a process conducted to remove atherosclerotic plaque from diseased arteries. Atherosclerotic plaques are localized in the coronary, peripheral, or neurovascular arterial vasculature. They have different characteristics depending on the texture of the plaque. In recent years, minimally invasive atherectomy devices are intended for application in cardiovascular, peripheral vascular, and neurovascular intervention procedures. These devices are designed differently to cut, shave, sand, or vaporize the plaques and have different indications.

Global Atherectomy Devices Market Size was US$ 1.3 Billion in 2021

The increasing plurality of peripheral artery disease (PAD), atherosclerosis, diabetes, and obesity, along with the rising number of geriatric residents across the globe, are the key factors driving the growth of the atherectomy devices market. Moreover, the growing preference for MI atherectomy surgical procedures among patients and healthcare providers is creating a positive outlook.

Remarkably, atherectomy devices diminish the risks of ailments induce minimal pain and trauma. During the surgery and stimulate faster recovery of the patient. Besides, various product innovations, such as the evolution of drug-coated balloons (DCB), function as other growth-inducing factors. Other factors, including comprehensive research and development (R&D) activities and advancements in the healthcare infrastructure, are also expected to push the market further. According to Renub Research report, Worldwide Atherectomy Devices Industry is expected to expand at a CAGR of 5.6% during 2021-2027.

The Excisional Product Segment Accounts for the Largest Share of the Market:

Based on product type, the industry is categorized into Excisional Product, Transiuminal Product, Rotational Product, Orbital Product, and Laser Product. The excisional product segment expects to account for the largest share of the market. The significant availability of credible clinical data to validate their clinical efficacy, rising availability of reimbursements for vascular treatment procedures across developed countries, and high preference for minimally invasive procedures among medical professionals, clinical benefits offered. Ongoing technological advancements in excisional atherectomy are attributed to the market expansion.

Growing Incidence of Coronary Artery Diseases (CADs) and Peripheral Artery Diseases (PADs):

Our report studies Global Atherectomy Device Industry by Application segregated into cardiovascular, peripheral vascular, and neurovascular applications. During coronary interventions, atherectomy is almost exclusively conducted in convergence with stenting. Its use promotes stents in patients with laboriously calcified lesions who otherwise would be transmitted for CABG.

Similarly, in peripheral interventions, atherectomy is expanding because there is a tendency away from implanting stents in the peripheral arteries. Due to apprehension about future complications, so many operators have turned to atherectomy, sometimes in conjunction with plain or drug-coated balloons, instead. Remarkably, in recent years, increasing demand for coronary and vascular intervention owing to rising cases of Coronary Artery Diseases (CADs) and Peripheral Artery Diseases (PADs) is expected to drive the atherectomy devices industry in the near future.

Globally the Hospital Accounts the Most Dominant End-Use Segment:

The Global Atherectomy Devices Industry is segregated into hospitals, ambulatory care services, and medical research institutes by end-use. As per our analysis, the hospital segment accounts for the largest market share in the atherectomy devices market. The increasing adoption of atherectomy for cardiac & peripheral vascular disease treatment and the growing availability of healthcare reimbursements across significant countries contribute to the market dominance. In addition, the high demand for treatment is expanding the number of operating rooms assisting the evolution of the hospitals, correspondingly boosting the growth of the Global Atherectomy Devices Industry.

North America is anticipated to dominate the Atherectomy Devices Market

In our report for regional analysis, the Global Atherectomy Devices Market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is anticipated to have the most extensive share of the market and factors include advancing the availability of reimbursements for atherectomy systems and adopting atherectomy systems among medical specialists. The large pool of patient populations of peripheral and coronary artery ailments and an increasing number of clinical trials are propelling the growth of the North American atherectomy devices market.

Key Market Players

Prominent players in Global Atherectomy Devices Industry include Cardinal Health, Ra Medical Systems, Inc., Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Inc., B. Braun Melsungen, Terumo Corporation, Integer Holding Corporation, Becton, Dickinson and Company, and Avinger, Inc. Further, concerning the evolution trend of the medical device market, partnerships & mergers are amongst the key trends witnessed in the atherectomy device market in recent years. Moreover, the companies are entering the atherectomy devices market by strategically expanding their reach through mergers and acquisitions. Which is a promising trend resulting from the substantial demand for atherectomy.

COVID-19 Impact in the Global Atherectomy Devices Industry

Amidst the pandemic, the social distancing and restrictions severely disrupted businesses and operations, causing disruptions in transportation and logistics globally. The sudden eruption of the COVID-19 pandemic also led to the cancellation or postponement of numerous elective cardiovascular surgeries to decrease the risk of coronavirus infection upon hospital visits. Moreover, supply impacts were further compounded owing to reduced disposable income. However, with the recovery from the pandemic in 2021, a positive effect on the market is observed.

Renub Research latest report “Atherectomy Devices Market, Global Forecast By Product Type (Excisional Product, Transiuminal Product, Rotational Product, Orbital Product, Laser Product) Application (Cardiovascular Applications, Peripheral Vascular Applications and Neurovascular Applications), End Use (Hospitals, Ambulatory Care Service and Medical Research Institutes), Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa), Companies (Cardinal Health, Ra Medical Systems, Inc., Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Inc., B. Braun Melsungen, Terumo Corporation, Integer Holding Corporation, Becton, Dickinson and Company, and Avinger, Inc.)” provides a detailed analysis of Atherectomy Devices Industry.

Product Type - Market has covered from 5 viewpoints:

1. Excisional Product
2. Transiuminal Product
3. Rotational Product
4. Orbital Product
5. Laser Product

Application - Market has covered from 3 viewpoints:

1. Cardiovascular Applications
2. Peripheral Vascular Applications
3. Neurovascular Applications

End Use - Market has covered from 3 viewpoints:

1. Hospitals
2. Ambulatory Care Service
3. Medical Research Institutes

Region - Market has covered from 5 viewpoints:

1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East & Africa

Company Insights:

• Overview
• Recent Development
• Revenue

Key Players:

1. Cardinal Health
2. Ra Medical Systems, Inc.
3. Medtronic plc
4. Abbott Laboratories
5. Boston Scientific Corporation, Inc.
6. B. Braun Melsungen
7. Terumo Corporation
8. Integer Holding Corporation
9. Becton, Dickinson and Company
10. Avinger, Inc