Thrombectomy Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 7.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Thrombectomy Devices Market Analysis
The thrombectomy devices market is expected to register a CAGR of 5% over the forecast period (2022-2027).
The COVID-19 outbreak severely impacted the thrombectomy market device market growth. The strict lockdowns and government restrictions have stopped the spread of the virus but slowed down the supply of these devices. Also, the government has applied the guidelines to delay non-essential surgeries, as a result, many surgical procedures were delayed globally and people had suffered a lot due to this. Also, these government restrictions slowed down the neurological procedures and the number of neuro thrombectomy procedures globally. For instance, in 2021 according to the data published by the International Journal of Stroke reported that the number of mechanical thrombectomy procedures got decreased by 12.7% during the initial three months of the pandemic. The onset of the COVID-19 pandemic has led to a rise in patients suffering from chronic diseases. The effects of coronavirus on the health of patients have increased cases of respiratory failures resulting in deaths. At the beginning of the pandemic, a significant decline in the use of mechanical thrombectomy was observed worldwide. Besides, postponement in treatments using mechanical thrombectomy due to infection control measures has as well negatively impacted the market prospects. Although COVID-19 has disrupted several healthcare activities, the thrombectomy devices market continued to witness robust growth. The higher risk of thromboembolism among COVID-19 patients led to increased demand for thrombectomy procedures thereby boosting market revenue.
The main driving features for this market are the growing geriatric population leading to an increase in cardiovascular diseases (CVDs) related to patients, technological advancements in medical devices used for capturing blood clots, and increased awareness regarding the early diagnosis of diseases. The growing geriatric population is leading in driving this market. The world is expected to witness a demographic shift over a few decades and the geriatric population is expected to dominate. Since, the geriatric population and increasing chronic diseases are rising globally and ultimately propelling the demand for thrombectomy devices, thereby contributing to the market growth.
The increasing incidence of ischaemic stroke has introduced the need to launch advanced products on market. The advancement and launch of new devices like suction devices, clot retrievers, and aspiration catheters based on advanced technology for ischaemic stroke are driving the market. For instance, in 2021 Phenox GmbH launched pRESET 6-50 mechanically thrombectomy devices globally to increase its technology for acute ischemic stroke. This product has the longest stent retriever in the phenoxy product portfolio.
The abovementioned aforesaid reasons the market is expected to show significant growth over the forecast period, however shortage of trained professionals, and high cost and difficultly use of devices for complex morphologies, maybe the restrain for this market.
Thrombectomy Devices Market Trends
This section covers the major market trends shaping the Thrombectomy Devices Market according to our research experts:
The Mechanical Thrombectomy Devices Segment is the largest segment of the thrombectomy devices market to witness the highest growth over the forecast period.
Mechanical thrombectomy refers to a new technique of stroke treatment that eliminates blood clots from the brain's major blood arteries. The operation is advised for individuals who have had an acute ischemic stroke caused by a major arterial obstruction in the brain's anterior circulation. Growing preference for the method is likely to augur well for the global mechanical thrombectomy market shortly.
However, with a rise in the burden of ischemic strokes across the globe, a novel treatment option known as mechanical thrombectomy has been made available by medical device companies. For instance, in 2021 NeuroVasv announced the ENVI-SR Mechanical Thrombectomy System (ENVI-SR), a stent-retriever being developed by NeuroVasc Technologies for the removal of blood clots in patients with acute ischemic stroke due to large vessel occlusion. For another instance, in July 2021, Surmodics, a leading provider of medical devices and in vitro diagnostic technologies to the health care industry, announced the acquisition of privately held Vetex Medical Limited. The Galway, Ireland-based medical device developer and manufacturer has focused exclusively on venous clot removal solutions. The transaction expands Surmodics' thrombectomy portfolio with a second United States Food and Drug Administration (USFDA) 510(k)-cleared device, the ReVene Thrombectomy Catheter. The ReVene mechanical thrombectomy catheter is specifically designed to remove large, mixed-morphology blood clots commonly found with venous thromboembolism (VTE). The device's dual action technology efficiently removes mixed-morphology clots in a single session, minimizing the need for thrombolytics and without capital equipment. Due to these technological advancements, the mechanical thrombectomy device segment is expected to be the largest segment, and witness to show significant growth over the forecast period.
Mechanical thrombectomy significantly reduces stroke-related disabilities in patients when used in conjunction with tPA and other medical treatments. The rise in demand for minimally invasive surgical procedures and favorable reimbursement policies for cardiovascular and neurovascular procedures are expected to boost demand for mechanical thrombectomy devices during the forecast period.
North America Expected to Dominate the Market Over the Forecast Period
The increasing burden of cardiac patients, technological advancements in the devices to attain better clinical outcomes, and increasing demand for minimally invasive products are driving the thrombectomy, presence of key market players driving the thrombectomy devices market in North America.
The rising cases of cardiac patients, suffering from heart attack and cardiac arrest are increasing in the North American region, which is mainly attributed due their lifestyles and diet pattern another reason for the increasing burden of cardiac patients in that region. For instance, in 2022 Centre for Disease Control and Prevention (CDC) reported that 805,000 people had a heart attack in the United States. Of these 605,000 are a first heart attack and 200,000 happen to people who have already had a heart attack. For another instance, in 2022 an article published in the National Library of Medicine reported that in the United States, about 610,000 people die of heart disease every year. That is 1 of every 4 deaths. Coronary heart disease is the leading cause of death in the Western world killing over 370,000 people annually. On average, about 735,000 Americans have a heart attack every year. Thus the high burden of cardiac diseases in the region drives the thrombectomy devices market.
Key market players are also involved in marketing strategies like a merger, acquisitions, etc in the segment tracked to gain a competitive edge in the region. For instance, in September 2021, Abbott announced the acquisition of Walk Vascular, LLC, a commercial-stage medical device company with a minimally invasive mechanical aspiration thrombectomy system designed to remove peripheral blood clots. For another instnace, in August 2021, Stryker Neurovascular received the regulatory United States Food and Drug Administration (USFDA) approval for their Trevo NXT Pro Vue Retriever, a class II medical device classified as a neurovascular mechanical thrombectomy device for acute ischemic stroke. Such acquistitions and advancement is driving the market in North America.
Therefore, due to the favorable reimbursement scenario for medical devices and aforementioned factors, the market is estimated to grow consistently in the North American region.
Thrombectomy Devices Industry Overview
The thrombectomy market is fragmented in nature due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares including Argon Medical Devices Inc., Boston Scientific Corporation, Edwards Lifesciences Corporation, Johnson & Johnson, Medtronic PLC, Penumbra Inc., Koninklijke Philips NV (Spectranetics), Terumo Corporation, Straub Medical AG, and Stryker Corporation.
The competitive landscape covers a Business Overview, Financials, Products and Strategies, and Recent Developments.
Thrombectomy Devices Market Leaders
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Stryker
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Boston Scientific Corporation
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Medtronic PLC
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Terumo Corporation
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Koninklijke Philips NV (Spectranetics)
*Disclaimer: Major Players sorted in no particular order
Thrombectomy Devices Market News
- In February 2022, Cernuous, part of Johnson & Johnson Medical Devices Companies, launched EMBOGUARD, a next-generation balloon guide catheter to be used in endovascular procedures, including those for patients with acute ischemic stroke.
- In November 2021, Penumbra Inc., a global healthcare company focused on innovative therapies, announced that the CHEETAH clinical study of its Indigo System CA RX Catheter successfully, which had met the primary endpoint and demonstrated high rates of blood clot removal, blood flow restoration, and myocardial perfusion in conjunction with percutaneous coronary intervention (PCI) in patients with high thrombus burden.
Thrombectomy Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Geriatric Population Leading to Increase in CVDs Related Patients
4.2.2 Technological Advancements in Medical Devices Used for Capturing Blood Clots
4.2.3 Increased Awareness Regarding Early Diagnosis of Diseases
4.3 Market Restraints
4.3.1 Shortage of Trained Professionals
4.3.2 High Cost and Difficultly Use of Devices for Complex Morphologies
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.4.6
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Aspiration Thrombectomy Devices
5.1.2 Mechanical Thrombectomy Devices
5.1.3 Ultrasonic Thrombectomy Devices
5.1.4 Other Product Types
5.2 By Application
5.2.1 Cardiovascular Thrombectomy
5.2.2 Neurovascular Thrombectomy
5.2.3 Peripheral Vascular Thrombectomy
5.3 By End User
5.3.1 Hospitals/Clinics
5.3.2 Ambulatory Centers
5.3.3 Other End Users
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle-East & Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle-East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Argon Medical Devices Inc.
6.1.2 Boston Scientific Corporation
6.1.3 Edwards Lifesciences Corporation
6.1.4 Johnson & Johnson
6.1.5 Medtronic PLC
6.1.6 Penumbra Inc.
6.1.7 Koninklijke Philips NV (Spectranetics)
6.1.8 Terumo Corporation
6.1.9 Straub Medical AG
6.1.10 Stryker Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Thrombectomy Devices Industry Segmentation
As per the scope of the report, thrombectomy is an interventional procedure performed to remove clots from a blood vessel. It is commonly performed in coronary arteries, peripheral arteries, and cerebral arteries. The thrombectomy devices market is segmented by Product Type (Aspiration Thrombectomy Devices, Mechanical Thrombectomy Devices, Ultrasonic Thrombectomy Devices, Other Product Types), Applications (Cardiovascular Thrombectomy, Neurovascular Thrombectomy, Peripheral Vascular Thrombectomy), End-User (Hospitals/Clinics, Ambulatory Centers, Other End-Users), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market 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.
| By Product Type | |
| Aspiration Thrombectomy Devices | |
| Mechanical Thrombectomy Devices | |
| Ultrasonic Thrombectomy Devices | |
| Other Product Types |
| By Application | |
| Cardiovascular Thrombectomy | |
| Neurovascular Thrombectomy | |
| Peripheral Vascular Thrombectomy |
| By End User | |
| Hospitals/Clinics | |
| Ambulatory Centers | |
| Other End Users |
| Geography | ||||||||
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Thrombectomy Devices Market Research FAQs
What is the current Global Thrombectomy Devices Market size?
The Global Thrombectomy Devices Market is projected to register a CAGR of 7.10% during the forecast period (2024-2029)
Who are the key players in Global Thrombectomy Devices Market?
Stryker, Boston Scientific Corporation, Medtronic PLC, Terumo Corporation and Koninklijke Philips NV (Spectranetics) are the major companies operating in the Global Thrombectomy Devices Market.
Which is the fastest growing region in Global Thrombectomy Devices Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Thrombectomy Devices Market?
In 2024, the North America accounts for the largest market share in Global Thrombectomy Devices Market.
What years does this Global Thrombectomy Devices Market cover?
The report covers the Global Thrombectomy Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Thrombectomy Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the emerging trends in the Global Thrombectomy Devices Market?
The emerging trends in the Global Thrombectomy Devices Market are a) AI-powered thrombectomy assistance b) Remote thrombectomy procedures c) Personalized treatment approaches
Thrombectomy Devices Industry Report
The Thrombectomy Devices Market is witnessing substantial growth, driven by the rising prevalence of cardiovascular disorders globally, attributed to sedentary lifestyles and aging populations. Technological advancements in thrombectomy devices are enhancing the efficiency and precision of minimally invasive procedures, making them crucial in cardiovascular applications where effective treatment is vital due to high disease-related mortality. The market, segmented by product type, application, and end-use, sees hospitals and ambulatory surgical centers as primary end-users. Despite challenges like stringent regulations and regional awareness deficits, the market is set for expansion, fueled by innovations and acquisitions by key players. The growth is further supported by an increase in healthcare facilities and skilled professionals in emerging countries adopting these advanced devices to improve patient outcomes. For detailed statistics on market share, size, and revenue growth, consult the Mordor Intelligenceā¢ Industry Reports. These reports provide a market forecast, historical overview, and a free report PDF download for a comprehensive analysis of the Thrombectomy Devices Market.
