Atherectomy Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Atherectomy Devices Market Analysis

The Atherectomy Devices Market size is estimated at USD 0.97 billion in 2024, and is expected to reach USD 1.41 billion by 2029, growing at a CAGR of 7.69% during the forecast period (2024-2029).

Like many other markets, the market was impacted by the COVID-19 pandemic. Various cardiovascular procedures and non-essential treatments were postponed. In March 2022, a research study was published in the Annals of Thoracic Surgery, which analyzed 717,103 adult cardiac surgery patients and more than 20 million COVID-19 patients stated that there was a 52.7% reduction in adult cardiac surgery volume and a 65.5% reduction in elective cases. The Mid-Atlantic region was most affected by the first COVID-19 surge, with a 69.7% reduction in overall case volume and an 80.0% reduction in elective cases. In the Mid-Atlantic and New England regions, the observed-to-expected mortality for isolated coronary bypass increased as much as 1.48 times (148% increase) pre-COVID rates. After the first COVID-19 surge, nationwide cardiac surgical case volumes did not return to baseline, indicating a COVID-19-associated deficit in cardiac surgery patients. Atherectomy is a procedure used to clear out clogged heart arteries. The cardiac surgeries would also include atherectomy surgeries. Hence, the market was affected across the globe. Hence, with the easing of COVID-19 restrictions, worldwide, the market gained traction and is expected to bounce back to its full potential over the years.

The market for atherectomy devices is majorly driven by the increasing preference for minimally invasive surgeries. Research studies about the expansion of minimally invasive surgeries are another factor that drives the market growth. In October 2021, a research study was published in Elsevier Journal, stating that continuous progress in percutaneous coronary intervention (PCI) has inspired surgeons to reduce the invasiveness of surgical revascularization techniques, resulting in the development of minimally invasive cardiac surgery (MICS) procedures, which have widely expanded over the past couple of decades. The main goals of MICS are to avert any form of sternotomy, reduce postoperative blood product transfusion, shorten ventilation times, reduce intensive care and hospital stays, diminish postoperative pain, and accelerate the return to normal activities. Hence, due to such advantages of MICS, there will be growth in the adoption of such surgeries which would increase the market growth.

Additionally, continuous product development and commercialization are expected to propel the growth of the market. In November 2021, Royal Philips launched peripheral and coronary artery applications, including the Nexcimerlaser system in Orlando, United States. The new Philips Laser System - Nexcimer- offers plug-and-play simplicity for coronary and peripheral atherectomy and lead extraction procedures. It is the only system compatible with catheters with Level I clinical data for ISR atherectomy and that can also support lead extraction procedures (the removal of pacemaker or defibrillator leads around the heart).

In the current trend of healthcare, reimbursement, and coverage reform, payer and provider consolidation for escalating healthcare costs are essential for patients and their caregivers. Reimbursement and coverage reform enhances the chances of opting for the treatment if it is covered. Hence, increasing reimbursement would increase the market growth in the upcoming period. In 2022, the Centers for Medicare and Medicaid Services (CMS), has increased reimbursement for peripheral intravascular lithotripsy (IVL) procedures. Procedure including revascularization, endovascular, open or percutaneous, lower extremity arteries, except tibial/peroneal; with intravascular lithotripsy, includes angioplasty within the same vessel (s) (CPT code: C9764) will receive USD 10,258. Similarly, a procedure including revascularization, endovascular, open or percutaneous, lower extremity arteries, except tibial/peroneal; with intravascular lithotripsy, and transluminal stent placement(s), includes angioplasty within the same vessels, (CPT code: C9765) will receive USD 16,402. Furthermore, processes including revascularization, endovascular, open or percutaneous, lower extremity arteries), except tibial/peroneal; with intravascular lithotripsy and transluminal stent placement(s), and atherectomy, including angioplasty within the same vessels, when performed (CPT code: C9767) will receive USD 16,402. Thus, all the above-mentioned factors are expected to boost the market over the forecast period.

However, the stringent regulatory scenarios may restrain the market growth over the forecast period.

Atherectomy Devices Market Trends

Directional Atherectomy Segment Holds a Significant Market Share in the Studied Market Over the Forecast Period

Atherectomy Devices Industry Segmentation

As per the scope of the report, atherectomy is a minimally invasive endovascular procedure generally performed to remove atherosclerosis from blood vessels in the body. It is generally used to treat arteries. It can be used in veins and vascular bypass grafts as well. The atherectomy devices market is segmented by product (directional atherectomy systems, orbital atherectomy systems, photo-ablative (laser) atherectomy systems, and rotational atherectomy systems), application (peripheral vascular applications, cardiovascular applications, and neurovascular applications), end user (hospitals and surgical centers, ambulatory care centers, and other end users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.