Thrombectomy Devices Market Analysis | Industry Report 2022

Thrombectomy Devices Market

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.

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.

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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.

ā€¢ 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.
ā€¢ 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.

Key Questions -

>What are the business growth strategies adopted by key market players to maintain their market position across key geographies?
>What is the existing developmental pipeline of major thrombectomy technologies aqmong Medtech manufacturers as well as academia?
>Growing number of minimally invasive procedures is a key trend in clinical management. What impact MIS procedures will have on thrombectomy devices market during the forecast period?
>What alternative technologies/therapies are currently being used for clot management worldwide? What competition they pose for key market players.

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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.