Global Atherectomy Devices Market: Snapshot
With the increasing incidence of peripheral artery diseases (PAD), the demand for atherectomy devices has increased substantially across the world. Over 250 million patients suffer from PAD, globally. During the period from 2000 to 2010, the prevalence of PAD rose by 24% and continues to increase at a significantly high rate, leading to a remarkable increase in the uptake of atherectomy devices.
In addition to this, since atherectomy is also a minimally invasive procedure, the rising preference for minimally invasive surgical procedures is likely to aid the global market for atherectomy devices remarkably in the years to come. The opportunity in this market is expected to touch US$558.9 mn by the end of 2017. Further, it is likely to expand at a CAGR of 5.60% during the period from 2017 to 2022 and attain a value of US$735 mn by 2022.
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Directional Devices to Remain Most Valued Product
Directional devices, rotational devices, orbital devices, and laser devices have surfaced as the key atherectomy devices across the world. On account of their early inception and high penetration, directional atherectomy devices have been dominating the global market. Various advantages of these devices, such as the ability of plaque debulking and availability in various sizes, are expected to keep their demand high over the next few years.
Atherectomy devices are primarily utilized in the treatment of cardiovascular, neurovascular, and peripheral diseases. These devices find most prominent usage in hospitals, clinics, and ambulatory surgical centers (ASCs). Hospitals have been registering a relatively higher demand for these devices across the world. Clinics and ASCs are also expected to report a healthy rise in the uptake of these devices in the years to come.
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North America to Witness Continued Dominance
Spread across North America, the Middle East and Africa (MEA), Europe, Asia Pacific excluding Japan (APEJ), and Japan, the worldwide market for atherectomy devices has gain remarkable momentum over the last few years. With favorable reimbursement scenario, North America market for atherectomy devices has acquired the leading position in this market. The high number of the U.S. FDA approved atherectomy devices is also supporting this regional market considerably. The rising preference for minimally invasive procedures in this region is projected to push the North America market upward at a CAGR of 6.0% between 2017 and 2022, pointing towards the continual dominance of this regional market over the next few years.
Creating an absolute opportunity of US$35.9 mn during the period of the forecast, Europe is anticipated to retain its second position in the global market. The presence of state-of-art medical and healthcare infrastructure in this region is likely to aid the Europe market for atherectomy devices in the years to come. Asia Pacific excluding Japan, however, will be observing a higher growth rate between 2017 and 2022 due to the increasing geriatric population. The socio-economic changes, which is encouraging manufacturers to setup their production units in this region, is also predicted to boost the market for atherectomy devices in Asia Pacific excluding Japan in the near future.
The competition in the global market for atherectomy devices is very high and is expected to intensify in the near future. Boston Scientific Corp., Cardiovascular Systems Inc., Medtronic Plc, Spectranetics Corp., Terumo Corp., Avinger Inc., and Royal Philips NV are the leading vendors of atherectomy devices across the world.
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