cropped logo 1 01.png

Atherectomy Market Is Expected to Grasp the Value of USD 2.56 Billion with Growing A CAGR of 7%by 2032

SHARE

Market Overview: The global atherectomy market, valued at USD 1.39 billion in 2022, is projected to reach USD 2.56 billion by 2032, with a compound annual growth rate (CAGR) of 7% during the forecast period. The primary driver for this growth is the increasing prevalence of cardiovascular disorders, which contribute significantly to global mortality.

Get a sample copy of the Atherectomy Market report: https://www.reportsanddata.com/download-free-sample/1683

Another key factor contributing to the market’s growth is the aging population. As the global population aged 60 or older is expected to surpass 2.1 billion by 2050, the incidence of cardiovascular disorders in elderly individuals is rising. Atherectomy treatments are becoming increasingly vital for addressing these conditions in older patients.

Advancements in atherectomy tools are also fueling market expansion. Ongoing innovations aim to make the process less invasive, more efficient, and safer. Devices like rotating and laser atherectomy tools have revolutionized the treatment of artery disease, enhancing the effectiveness of atherectomy procedures. The market anticipates continued growth driven by these technological developments.

Furthermore, the escalating demand for minimally invasive procedures is a significant driver of market revenue. Patients prefer atherectomy operations due to their less intrusive nature compared to traditional surgical methods, leading to quicker recovery times. The availability of atherectomy procedures at outpatient clinics and ambulatory surgery centers further fuels market growth.

Despite these positive factors, challenges such as the high cost of atherectomy devices, absence of reimbursement policies, and the risk of complications associated with atherectomy treatments pose potential constraints on revenue growth.

Key Insights by Product Type: The atherectomy market is categorized into directional, rotational, orbital, and laser product types. In 2021, the directional category dominated the market in terms of revenue. This growth can be attributed to the increased prevalence of peripheral artery disease (PAD) and the adoption of minimally invasive techniques. Directional atherectomy, which employs a catheter with a revolving blade to remove plaque from artery walls, is favored for its efficiency and safety in treating PAD.

During the forecast period, the rotational segment is expected to experience the fastest revenue growth. This growth is driven by the rising prevalence of calcified and complex lesions, coupled with a growing preference for minimally invasive techniques. Rotational atherectomy, using a quickly spinning burr to remove calcified plaque from arteries, is found to be more effective and has lower complication rates compared to previous treatments.

The orbital segment is also anticipated to witness significant growth, fueled by the increasing demand for safe and effective solutions for complex lesions. Orbital atherectomy, which employs a rotating, diamond-coated crown to remove plaque, is considered safe, well-tolerated by patients, and highly effective in treating calcified and complex lesions.

The laser market is expected to see moderate growth during the forecast period, with increased adoption for treating hardened and complicated lesions. Laser atherectomy uses high-energy light to melt plaque and improve blood flow, proving more effective than previous techniques. The availability of advanced laser atherectomy tools with higher precision and control is anticipated to drive market expansion.

End-Use Landscape: In 2021, the hospitals segment dominated the global atherectomy market in terms of revenue. Atherectomy procedures are increasingly performed in hospital settings, driven by the rising incidence of cardiovascular diseases, including PAD. Hospitals, equipped with highly qualified healthcare personnel and advanced infrastructure, cater to a larger patient base and are capable of handling complex treatments, contributing to the market’s growth in this segment.

Catheterization labs, specialized facilities for minimally invasive procedures like atherectomy, are also anticipated to undergo considerable expansion during the forecast period. Increased prevalence of cardiovascular diseases, growing demand for less invasive procedures, and investments in infrastructure modernization contribute to the growth of this market segment.

Regional Outlook: North America is projected to dominate the atherectomy market during the forecast period, driven by the high prevalence of cardiovascular diseases in the region. Approximately 8.5 million Americans are affected by PAD, contributing to the market’s expansion. The adoption of minimally invasive procedures and technological advancements, coupled with favorable reimbursement policies, further fuel growth in North America.

Competitive Landscape: Key players in the atherectomy market include Boston Scientific Corporation, Cardinal Health Inc., Philips Healthcare, Spectranetics Corporation (a subsidiary of Royal Philips), C.R. Bard, Inc. (a subsidiary of BD), Medtronic, Inc., Minnetronix, Inc., Royal Philips, Terumo Corporation, and Volcano Corporation (a subsidiary of Royal Philips).

Strategic Developments: Leading companies are employing various strategies to enhance their market share and introduce innovative products. Recent strategic moves include:

  1. In 2021, Boston Scientific Corporation acquired Preventice Solutions, Inc., a provider of remote monitoring and mobile health solutions, for $925 million. This acquisition aimed to enhance patient outcomes and diversify Boston Scientific’s digital health solutions.
  2. Medtronic, Inc. introduced the HawkOne Directional Atherectomy System in 2020, a new atherectomy device for above-the-knee and below-the-knee surgeries, targeting hardened and challenging lesions in peripheral arteries.
  3. Philips Healthcare launched the Phoenix Atherectomy System in 2020, featuring low-profile design and directional atherectomy capabilities for treating peripheral artery disease.
  4. In 2019, Cardinal Health, Inc. acquired Medtronic Plc’s patient care, deep vein thrombosis, and nutritional insufficiency businesses to strengthen its position in the global healthcare sector.
  5. Spectranetics Corporation, a subsidiary of Royal Philips, introduced the Turbo Elite Laser Atherectomy System in 2018, designed for above-the-knee and below-the-knee surgeries to treat hardened and challenging lesions in peripheral arteries.

New Product Launches: Key players have introduced innovative products to meet the evolving demands of the market:

  1. Boston Scientific Corporation introduced the Ranger Drug-Coated Balloon in 2021, a device for treating peripheral artery disease with a medication coating that reduces the risk of restenosis.
  2. Cardinal Health, Inc. launched the Jetstream G3 System in 2020, a novel atherectomy device for treating peripheral artery disease, featuring a strong laser and directional cutting mechanism.

Explore Trending Reports:

Tetrahydrofuran (THF) Market –https://bhagyashrishewale.blogspot.com/2023/06/tetrahydrofuran-thf-market-is-expected.html

Benzoic Acid Market –https://bhagyashrishewale.blogspot.com/2023/06/benzoic-acid-market-is-expected-to.html

Acrylic Monomers Market –https://bhagyashrishewale.blogspot.com/2023/06/acrylic-monomers-market-to-exceed.html

Bitumen Membranes Market –https://bhagyashrishewale.blogspot.com/2023/06/bitumen-membranes-market-to-exceed.html

Request a customization of the report: https://www.reportsanddata.com/request-customization-form/1683

Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.

About Reports and Data    

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:

John W

(Head of Business Development)

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: [email protected]

Blogs | Press Release | Industry News | Our competencies

Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports

Browse More Latest Reports @ https://www.reportsanddata.com/report

Browse Latest Blogs: https://www.reportsanddata.com/blogs

Browse Latest Press Release: https://www.reportsanddata.com/press-release

Related News