Atherectomy Devices Market | End User Industry to Dominate The Global Industry
Regional Growth and Demand of Atherectomy Devices Market:
North America is expected to account for the largest share of the Atherectomy Devices Market in 2017, followed by Europe. Factors such as increasing availability of reimbursements for atherectomy devices, growing adoption of atherectomy devices among medical professionals, large patient population of peripheral & coronary artery diseases, and growing number of clinical trials are driving the growth of the North American atherectomy devices market.
Asia Pacific is expected to register the highest growth rate during the forecast period. This can be attributed to the increasing prevalence of target diseases, increasing healthcare expenditure, cost-effective (owing to the increase in localized manufacturing and strengthening of distribution networks of key product manufacturers), and rising awareness among surgeons related to the benefits offered by atherectomy systems (less revascularization rates, high efficacy, short procedural time).
The global atherectomy devices market accounted is projected to reach $1.45 Billion by 2022 from $1.02 Billion in 2016, at a CAGR of 6.1%.
The peripheral vascular applications segment accounted for the major share of the market owing to the significant availability of clinical evidence to support the therapeutic efficacy of atherectomy in PVD treatment and growing patient preference for minimally invasive surgical procedures.
Global Market Growth Opportunities:
1. Increasing Number of Research Activities in the Field of Atherectomy 2. Increasing Healthcare Expenditure Across Emerging Markets
Atherectomy Devices Market by Products:
The directional atherectomy devices segment accounted for the largest share of the market. It is also expected to register the highest CAGR during the forecast period. This can be attributed to clinical benefits offered (such as lack of barotrauma, less risk of neointimal hyperplasia, immediate change of bypass site, and availability of differently sized instruments to enable atherectomy in blood vessels) and ongoing technological advancements in the field of directional atherectomy.
Major players operating in the market are Medtronic (Ireland), Philips (Netherlands), Boston Scientific (US), and Cardiovascular Systems (US). Other prominent players present in this market include Straub Medical (Switzerland), BIOTRONIK (Netherlands), C.R. Bard (US), and Avinger (US).