Global Thrombectomy Devices Market Size, Share, Forecast Report, 2020-2027

Warning: DOMDocument::loadHTML(): htmlParseEntityRef: no name in Entity, line: 23 in /home/multiwpmr/public_html/report-details.php on line 448
The global thrombectomy devices market is estimated to exhibit a CAGR of over 6.5% during the forecast period. The thrombectomy procedures include the removal of the blood clot (thrombus) from a blood vessel and commonly performed for an arterial embolism, which is an arterial blockage often caused by atrial fibrillation, a heart rhythm disorder. The market growth is attributed to the increasing geriatric population coupled with the rising number of chronic diseases.



The global population is aging rapidly, which is at a higher risk of developing multiple disease conditions, which would increase the demand for surgical interventions for the treatment. The increasing number of minimally invasive procedures coupled with the growing target patient population has significantly driven the growth of the market. In addition, rising healthcare expenditure in the emerging markets further tends to drive the global market growth in the near future.



Segmental Outlook



The global thrombectomy devices market is segmented on the basis of product type and application. Based on the product type, the market is segmented into aspiration thrombectomy devices, mechanical thrombectomy devices, ultrasonic thrombectomy devices, and others such as rheolytic and hydrodynamic thrombectomy devices. Mechanical thrombectomy devices are estimated to hold a prominent share in the market. Based on the applications, the market is segmented into cardiovascular thrombectomy, neurovascular thrombectomy, and peripheral vascular thrombectomy.



Mechanical Thrombectomy Devices Segment to Hold a Significant Share in the Market



Based on the product type, the mechanical thrombectomy devices are expected to hold a prominent share in the global market during the forecast period. The growth is attributed to the variety and features offered by mechanical thrombectomy devices such as a wide range of endovascular tools cleared for removing the blood clots in the cases of acute ischemic stroke in patients. In addition, the increased number of peoples suffering from strokes and their eligibility for the treatment via mechanical procedures is propelling the growth of the market.



However, the ultrasonic thrombectomy devices segment is projected to grow at a higher pace due to the increased use of ultrasonic thrombectomy devices by surgeons and medical professionals, higher therapeutic efficacy for the treatment of deep vein thrombosis and pulmonary embolism, and its affordability.



Regional Outlook



The global thrombectomy devices market is geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. North America is expected to hold a significant share in the global market during the forecast period. This is attributed to the presence of the key players in the region such as Stryker Corp., Boston Scientific Corp., Johnson and Johnson, and others. The other factors supporting the regional growth of the market include the increased adoption of technologically advanced thrombectomy devices for minimally invasive surgeries by the surgeons, improved healthcare infrastructure in the region, increased number of clinical trials, and medical reimbursements in the region for the medical devices



In addition, Asia-Pacific is expected to exhibit remarkable growth in the global thrombectomy devices market during the forecast period. The regional growth of the market is attributed to the improving healthcare infrastructure especially in the emerging economies of the region such as India and China.



Market Players Outlook



The prominent players operating in the global thrombectomy devices market include Medtronic Plc, Stryker Corp., Terumo Corp., Boston Scientific Corp., Koninklijke Philips NV, Irani Medical Inc., and others. These players are adopting several organic and inorganic growth strategies such as product launches & developments, partnerships, agreements, and acquisitions to strengthen their product portfolios and maintain a competitive position in the global thrombectomy devices market.



Medtronic Plc is one of the prominent players that provides various devices for blood clot removal which include the Riptide Aspiration System, an aspiration thrombectomy system. This device is manufactured to retrieve a blood clot and restore blood flow to occluded vessels in the brain for patients that experience acute ischemic stroke owing to large vessel occlusion.



Recent Developments



In August 2018, NexGen Medical Systems Inc. announced the completion of its human use of the XCOIL large vessel (18mm) thrombectomy system for the treatment of deep vein thrombosis (DVT). The new expansion of the XCOIL 12mm system is designed to rapidly remove blood clots in large vessels, such as the iliac vein. Such an expansion of the product line enhances the company's growth and its product portfolio.

In May 2018, Inari Medical, Inc., announced that its FlowTriever System received FDA 510(k) clearance for the treatment of pulmonary embolism ("PE"). This clearance made the FlowTriever System the first and only thrombectomy device cleared by the FDA for the treatment of PE.