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This research report on the atherectomy devices market covers sizing and forecast, share, industry trends, growth drivers, and vendor analysis. The study includes insights by Procedure (directional, rotational, orbital, and laser), End-user (hospitality, specialty cardiac centers, ASCs, and office-based cath labs), Application (peripheral arterial disease and coronary arterial disease), and Geography (North America, Europe, Latin America, APAC, and MEA)
The atherectomy devices market is likely to witness significant growth on account of the increasing prevalence of coronary artery disease (CAD) and peripheral artery disease (PAD). Cardiovascular diseases (CVDs) such as CAD and PAD are among the leading causes of death globally. Several factors, which include the growth in the aging population, the rise in diabetes and other lifestyle diseases, and the increase in the percentage of smokers, are expected to contribute to the growth of CVDs, which is likely to increase the demand for the devices.
The increasing use of laser atherectomy as a preferred option for patients with high surgical risk because of poor underlying physiology or complex lesion anatomy is expected to drive the market. Furthermore, the laser systems operate over any guidewire, which is not possible with the other systems. Hence, the presence of several substantial benefits and the rising demand for advanced treatment for CAD and PAD is driving several market players to focus on the development and commercialization of laser devices. Therefore, the availability of advanced technological features and improved cost-effective clinical outcomes laser devices are projected to boost the global atherectomy devices market during the forecast period.
- The PAD application segment is likely to witness an absolute growth of over 50% during the forecast period due to the high adoption of atherectomy devices for the efficient and safe treatment of PAD.
- In the US, CADs are expected to cause over 350,000 deaths annually, and the disease is recognized as the leading cause of death globally, which is likely to propel the demand.
- The elderly population is highly prone to CVDs, especially in developing countries. In China, the number of people above 60 years is expected to reach over 430 million by 2050, thereby boosting the prospects of the market.
The atherectomy devices market is expected to grow at a CAGR of over 7% during the forecast period 2019–2025.
Atherectomy Devices Market: Segmentation
This research report includes a detailed segmentation by procedures, end-user, applications, and geography.
Insights by Procedures
The directional atherectomy segment is growing at a healthy rate. The growth can be attributed to the growing patient population with PAD and CAD. Arterial diseases remain increasingly common disorders and continue to be a major cause of chronic morbidities worldwide. Moreover, promising clinical outcomes of directional procedures for vein graft stenosis is another factor for the growth of the segment.
Orbital atherectomy is a promising new methodology mainly for treating various arterial diseases, including both CAD and PAD. With the aging population worldwide, and the increasing risk of coronary and peripheral artery calcification, the number of surgical procedures for the treatment of arterial plaque is growing at a steady rate. Therefore, the uptake for orbital devices is growing, contributing to future market growth. Further, low procedural complications and low rates of restenosis have led to increased demand for orbital devices.
Insights by End-user
Patients increasingly prefer to treat diagnosed CVDs in specialty cardiac centers over hospitals as these centers provide specialized cardiac healthcare services to patients. The segment is expected to grow at a significant rate due to the availability of sophisticated infrastructure related to the diagnosis and treatment of CVDs in standalone cardiology centers compared to hospitals. However, the hospital segment is likely to dominate the market due to favorable reimbursement policies and the availability of skilled healthcare professionals. Ambulatory surgery centers (ASCs) are cost-effective and offer high-quality care with the minimal indirect cost of treatment. ASCs provide advanced operating equipment, specialist surgeons, and well-equipped operating rooms without complex administrative procedures, and such factors are likely to bolster the segment growth. Further, ASCs are expected to witness major growth in developed countries as the end-users focus is increasingly shifting from open cardiovascular surgical techniques to percutaneous-based techniques.
Insights by Application
With the rising burden of PAD globally, minimally invasive endovascular treatments such as atherectomy are growing compared to conventional procedures. Moreover, an atherectomy is specifically effective for treating blockages in arteries that happen around branches or in vessels that cannot be treated easily with stents or balloon angioplasty. Hence, their increased application for treating PAD is driving the uptake of these devices across the globe.
The CAD segment is expected to bolster the demand for atherectomy devices on account of the increasing prevalence of CVDs such as CAD. Atherectomy is an advanced treatment option that helps to treat heavily calcified lesions and complex vessel diseases. Hence, these procedures are increasingly replacing balloon angioplasty, which is likely to drive growth.
Insights by Geography
North America is expected to grow at a significant rate due to the increasing preference for minimally invasive surgical procedures. The presence of a large patient pool of PAD and CAD population with increasing adoption of atherectomy devices is likely to drive the market. Further, the demand in the region is expected to be driven by favorable reimbursement policies, technological advancements, and the extensive reach of innovative products. The European market is likely to grow due to the presence of sophisticated healthcare infrastructure, high awareness regarding the availability of advanced devices, and increased inclination toward minimally invasive surgical approach. Germany, France, UK, Spain, and Italy are the major revenue contributors in the European market. The highest proportion of people with an increased incidence of CAD and PAD is likely to drive the APAC market. Other factors, such as socioeconomic changes, unhealthy diet, smoking, liquor intake, and demographic aging are expected to fuel the demand in the region.
Key Profiled Countries
- South Korea
- Saudi Arabia
Insights by Vendors
The global atherectomy devices market is moderately competitive and characterized by the presence of a few players. The market is expected to witness rapid technological advancements and new product launches. The key players are facing competition within themselves, and other prominent players are likely to compete by launching technologically advanced devices such as image-guided and laser systems. Multiple product launches, diversified product portfolio, and investment in R&D activities are expected to be key factors for companies to maintain revenue growth during the forecast period.
- Cardiovascular Systems
- Koninklijke Philips
- Boston Scientific
Other Prominent Vendors – Avinger, Eximo Medical, REX MEDICAL, Ra Medical Systems, Straub Medical
Key Market Insights
The analysis of the atherectomy devices market provides sizing and growth opportunities for the period 2019–2025.
- Offers market sizing and growth prospects of the market for the forecast period 2020–2025.
- Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market.
- Includes a detailed analysis of growth drivers, challenges, and investment opportunities.
- Delivers a complete overview of segments and the regional outlook of the market.
- Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage.
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