Thrombectomy Devices Market Development | Industry Report 2022

According to research report thrombectomy devices market is estimated to reach USD 1.45 billion by 2022; growing at a CAGR of 6.7% during the forecast period.

Over
the last few years, the thrombectomy devices market has witnessed
significant advancements in terms of the product development and
commercialization. The major factors driving the growth of the market
are growing target patient population, ongoing technological
advancements in thrombectomy devices, favorable medical reimbursement
scenario, rising demand for minimally invasive thrombectomy procedures,
and increasing healthcare expenditure across emerging markets.

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The
key players focused on various strategies such as product launches and
enhancements; agreements and collaborations; strategic acquisitions; and
expansions to increase their shares in the global thrombectomy devices
market. Product launches & enhancements is the strategy adopted by
major industry players to achieve the desired market growth during
2013-2017.

This strategy was adopted by Stryker Corporation
(U.S.), Medtronic plc (Ireland), Boston Scientific Corporation (U.S.),
Johnson & Johnson (U.S.), Terumo Corporation (Japan), Penumbra, Inc.
(U.S.), Spectranetics Corporation (U.S.), Edwards Lifesciences
Corporation (U.S.), Argon Medical Devices, Inc. (U.S.), and Teleflex
Incorporated (U.S.). Apart from product launches and enhancements, many
prominent players also adopted agreements and collaborations as their
key growth strategy to strengthen their market presence, enhance their
R&D capabilities, and to expand their distribution networks to
generate additional demand by sensitizing end users through an increase
in availability of thrombectomy devices.

In this report, the market has been segmented by type, application, end user, and region.
In 2016, North America held the largest share of the market.

•
Based on type, the market is segmented into aspiration, mechanical,
rheolytic, and ultrasonic thrombectomy devices. The ultrasonic
thrombectomy devices segment is poised to be the fastest growing during
the forecast period. The growing demand for ultrasonic thrombectomy
devices can primarily be attributed to factors such as rising adoption
of ultrasonic thrombectomy products by medical professionals, higher
therapeutic efficacy for the treatment of deep vein thrombosis and
pulmonary embolism, and its affordability.
• On the basis of
application, the market is segmented into cardiovascular, neurovascular,
and peripheral vascular applications. Peripheral vascular segment is
expected to be the fastest growing in the market during the forecast
period. This growth can be attributed to the rising availability of
medical reimbursements for peripheral thrombectomy procedures across
major markets, rising incidence of vascular disorders across the globe,
growing geriatric population, ongoing technological advancements in the
field of vascular ultrasound treatment, and rising awareness related to
clinical efficacy of thrombectomy procedures in PVD treatment.

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By
end user, the market is segmented into hospitals & surgical
centers, ambulatory surgical centers, research laboratories &
academic institutes, and other end users. Ambulatory surgical centers
(ASCs) are expected to be the fastest growing end user segment in the
market. This high growth can be attributed to the increasing
availability of reimbursement for thrombectomy procedures in outpatient
settings, ongoing advancements in minimally invasive surgical
techniques, increasing number of image-guided surgeries performed at
ASCs, and rising market demand for miniaturized therapeutic devices.