The global atherectomy devices market is witnessing a new phase of technological advancements with the launch of many advanced and innovative coronary atherectomy devices.
According to the latest Arizton's market research report, the atherectomy devices market size to cross revenues of $1.2 billion by 2025, growing at a CAGR of over 7% during the period 2019–2025.
Atherectomy Devices Market Growth
The overall growth of the global atherectomy market is mainly attributed to the higher adoption of coronary atherectomy devices along with the high prevalence of CAD and PAD that need accurate, sensitive, and effective surgical treatment for the removal of plaque from arteries. The availability of positive clinical evidence demonstrating the superiority of the latest generation advanced coronary atherectomy devices, end-users will become increasingly aware of the clinical benefits of these products and will more rapidly adopt them as an essential surgical tool mainly for treating cardiovascular diseases. The overall improvement in patient management, rising demand for minimally invasive surgical practice, and favorable reimbursement policies for coronary atherectomy devices are also contributing to the higher adoption of atherectomy devices across the globe.
Technological Advancements in the Market
The global atherectomy devices market is witnessing a new phase of technological advancements with the launch of many advanced and innovative atherectomy devices. Currently, several atherectomy devices are being used, with positive clinical evidence, improved clinical outcomes, and physician experience regarding the usage of such devices. Innovations in coronary atherectomy devices, in terms of procedures and construction, play a pivotal role in increasing the effectiveness of the devices. The growing demand for MI and less invasive techniques has encouraged several vendors to develop advanced technology platforms such as the latest-generation atherectomy devices to address the prevailing unmet needs in the treatment of PAD and CAD. The demand for MI surgeries is increasing at a phenomenal rate due to growing awareness among patients, favorable reimbursement coverage for these techniques, and an increase in the prevalence of high-risk patients who are the major target population for this procedure.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by procedures, end-user, applications, and geography.
- Competitive Landscape – 4 Key Company Profiles and 17 Other Prominent Vendors
Atherectomy Devices Market – Geographical Analysis
In 2019, North America dominated the market followed by Europe, APAC, Latin America, and the Middle East and Africa. North America is growing at a significant rate due to the growing preference for minimally invasive surgical procedures for atherectomy. The presence of a large patient pool of peripheral and coronary artery diseases with increasing acceptance of coronary atherectomy devices among healthcare professionals has collectively supported North America’s lead in the global market. The major revenue contributors in Europe are Germany, France, the UK, Spain, and Italy. The growth in the European region is due to the presence of highly sophisticated healthcare infrastructure, high awareness levels regarding the availability of advanced coronary atherectomy devices, and increased inclination toward minimally invasive surgical approaches with a rising patient pool of CAD and PAD.
The global atherectomy devices market is moderately competitive and characterized by the presence of very few key players offering these devices. There are approximately four key vendors offering atherectomy devices. The market is consolidated with only a few major players who accounted for about 95% of the overall atherectomy devices market in 2019. The market is witnessing rapid technological advancements and is significantly affected by new product launches. Cardiovascular Systems, Medtronic, Koninklijke Philips, and Boston Scientific are the key players in the market. All the companies that were primarily deriving revenues from atherectomy devices have been growing at a significant rate in the last few years. Multiple product launches and diversified product portfolios stimulated their growth in recent years. It is expected that increased R&D activities and new product launches are to be crucial strategies for companies to maintain revenue growth.
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