Atherectomy Devices Industry is projected to witness a CAGR of 7% during the period 2023-2032. This growth can be attributed to the increase in preference for minimally invasive procedures.
Selbyville, Delaware, Oct. 02, 2023 (GLOBE NEWSWIRE) —
Atherectomy Devices Market size is expected to be worth USD 1.4 billion by 2032. The increasing awareness about the importance of early detection and treatment of cardiovascular diseases along with the growing focus of patients towards seeking medical attention at earlier stages will drive the industry development.
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The expansion and development of healthcare infrastructure, particularly in emerging economies, has increased the access to advanced medical technologies, including atherectomy devices. Additionally, the high availability of reimbursement policies and insurance coverage for atherectomy procedures will significantly influence the industry expansion.
Laser atherectomy devices to gain significant traction
The laser atherectomy devices market share is poised to witness immense traction from 2023-2032 owing to increasing usage in treating peripheral artery diseases (PAD) by removing plaque buildup in arteries using laser energy. Laser atherectomy devices offer a minimally invasive approach as they reduce the need for more invasive procedures, such asangioplasty or bypass surgery. Additionally, the influx of technological improvements in laser technology to offer enhanced efficacy and safety will boost the industry trends.
Rising demand from coronary applications
Atherectomy devices market from the coronary application segment is likely to witness considerable expansion through 2032 fueled by the rising prevalence of coronary artery diseases worldwide. Atherectomy devices are utilized to remove plaque from narrowed coronary arteries, thereby restoring blood flow and alleviating symptoms of coronary artery diseases. These devices also offer minimally invasive alternatives to traditional treatments, such asangioplasty and bypass surgery, further appealing to both patients and healthcare providers.
Increasing usage in hospitals
The atherectomy devices market size from the hospital segment generated substantial revenue in 2022 attributed to the increasing prevalence of conditions, such as PAD and coronary artery diseases, leading to higher demand for several advanced devices in hospitals. Moreover, these healthcare settings serve as referral centers for complex cases, attracting a larger patient pool seeking specialized cardiovascular care. The increasing availability of reimbursement policies and insurance coverage will also propel the segment increase.
APAC to emerge as a lucrative market destination
Asia Pacific atherectomy devices market size is set to expand at a notable CAGR from 2023-2032 propelled by the rising burden of PAD patients along with the burgeoning demand for advanced treatment options. The improving healthcare infrastructure, expanding access to medical facilities, and increasing healthcare expenditure in countries, such as China, India, and Japan have facilitated the adoption of atherectomy devices. Moreover, technological advancements, growing awareness about cardiovascular health, and favorable government initiatives will augment the industry outlook.
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Atherectomy Devices Industry Leaders
Some of the top companies operating in the atherectomy devices market include Dickinson and Company, Medtronic plc, Terumo Corporation, Avinger, Koninklijke Philips N.V, Abbott Laboratories, Becton, Cardiovascular Systems, Inc., Boston Scientific, Cardinal Health Inc., Biomerics LLC, AngioDynamics Inc., Rex Medical and Nipro Corporation.
Atherectomy Devices Development News
- In February 2023, Abbott agreed to buy Cardiovascular Systems for $890 million for its atherectomy devices. The acquisition broadened Abbott’s vascular device portfolio while providing access to other items under development.
Partial Table of Contents (ToC) of the report:
Chapter 3 Atherectomy Devices Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increase in preference for minimally invasive procedures
3.2.1.2 Growing target patient population
3.2.1.3 Recent technological advancements
3.2.1.4 Rising prevalence of peripheral arterial diseases
3.2.2 Industry pitfalls & challenges
.3.2.2.1. Stringent regulations
.3.2.2.2. High cost of the products
3.2.2.3 Lack of skilled healthcare professionals
3.3 Growth potential analysis
3.3.1 By product
3.3.2 By application
3.3.3 By end-use
3.4 COVID- 19 impact analysis
3.5 Regulatory Landscape
3.5.1 U.S
3.5.2 Europe
3.6 Reimbursement scenario
3.7 Technology landscape
3.8 Future market trends
3.9 Start-up scenario
3.10 Porter’s analysis
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company matrix analysis, 2022
4.3 Company market share analysis, 2022
4.4 Competitive positioning matrix
4.5 Vendor matrix analysis, 2022
4.6 Strategy dashboard, 2022
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