The Global Atherectomy Devices Market Is Projected To Reach USD 1.45 Billion By 2022 From USD 1.08 Billion In 2017, At A CAGR Of 6.1%

Tuesday, November 21, 2017 Medical Gadgets
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LONDON, Nov. 21, 2017 /PRNewswire/ -- The atherectomy devices market projected to grow at a CAGR of 6.1% The global

atherectomy devices market is projected to reach USD 1.45 billion by 2022 from USD 1.08 billion in 2017, at a CAGR of 6.1%. The growth witnessed by atherectomy devices is mainly driven by the
growing target patient population, continuous product development & commercialization, favorable medical reimbursements, rising demand for minimally invasive atherectomy procedures, and strengthening distribution channels of major product manufacturers.

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The increasing number of research activities in the field of atherectomy and rising healthcare expenditure across emerging markets are also driving the growth of the market. However, limited patient awareness related to disease diagnosis (resulting in delayed treatment for peripheral vascular diseases), stringent regulatory framework, dearth of well-trained surgeons to conduct atherectomy procedures, and significant adoption of alternative therapies are the key challenges faced by a majority of the atherectomy device manufacturers across the globe.

"The peripheral vascular applications segment is poised to be the fastest-growing during the forecast period." On the basis of application, the global atherectomy devices market is segmented into peripheral vascular, cardiovascular, and neurovascular applications. The peripheral vascular atherectomy applications segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the significant availability of clinical evidence to support therapeutic efficacy of atherectomy in PVD treatment, rising availability of medical reimbursements for peripheral atherectomy procedures across developed countries, and growing patient preference for minimally invasive surgical procedures

"The hospitals & surgical centers segment is expected to have the largest share of the market in 2017." In 2017, on the basis of end user, the hospitals and surgical centers segment is expected to account for the largest share of the market. The large share of this segment is attributed to increasing adoption of atherectomy for cardiac & peripheral vascular disease treatment, ongoing technological advancements in the field of minimally invasive or image-guided atherectomy procedures, rising incidence of chronic vascular diseases, and growing availability of healthcare reimbursements across major countries.

"Asia Pacific is expected to register the highest growth rate during the forecast period." Geographically, the atherectomy devices market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The highest CAGR for the APAC atherectomy devices market can be attributed to the factors such as the presence of 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.

Breakdown of supply-side primary interviews: by company type, designation, and region:

  • By Company Type - Tier 1 – 25%, Tier 2 – 30% and Tier 3 – 45%
  • By Designation – C level – 26%, Director level – 30%, Others – 44%
  • By Region – North America - 34%, Europe – 26%, APAC – 23%, RoW – 17%

The global atherectomy devices market is competitive, with a large number of global and local players. In 2016, the market was dominated by Medtronic (Ireland), Philips (Netherlands), Boston Scientific (US), and Cardiovascular Systems (US). Product launches, strategic acquisitions, agreements & collaborations were the major strategies adopted by market players to achieve growth in the market.

Research Coverage This report studies the atherectomy devices market based on product, application, and end user. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth. It analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for the market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends, prospects, and contributions to the total market. The report forecasts the revenue of the market segments with respect to four main regions.

Reasons to Buy the Report: From an insights perspective, this research report has focused on various levels of analysis—industry trends, market share analysis of top players, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the atherectomy devices market, and high-growth regions and countries and their respective drivers, restraints, challenges, and opportunities.

The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn help firms garner greater market shares. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies for strengthening their market shares.

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on product portfolios offered by the major players in the atherectomy devices market. The report analyzes the atherectomy devices market based on product, application, end user, and region
  • Product Development: Detailed insights on the research and development activities and product launches in the atherectomy devices market
  • Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various atherectomy devices across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the atherectomy devices market
  • Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of leading players in the atherectomy devices market

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