The report ‘Global Atherectomy Devices Market by Type (directional, rotational, orbital and laser atherectomy), application (peripheral vascular, cardiovascular, neurovascular applications), end-user (hospitals and surgical centres, ambulatory care centres, other end users), and region (North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa) – Global Forecast to 2030’. In 2020, the Global Atherectomy Devices Market was valued at $0.99 billion and was expected to grow to $2.02 billion in 2030 at a CAGR of 7.34%.
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Key Factors Augmenting the Market Growth
Some of the critical factors that assist in driving the market forward are the rise in prevalence of diseases and the geriatric population, preference for minimally invasive surgical procedures and high success rate.
By type, the ‘orbital atherectomy’ segment held the maximum share of 30% in 2020
Orbital atherectomy is an adjunctive technique used for the lesion preparation of calcified plaque to avoid percutaneous coronary and peripheral percutaneous endovascular interventions. This is a popular technique that accelerates the market growth. The laser atherectomy segment is expected to grow the fastest with a CAGR of 7%. On the other hand, the directional atherectomy market segment held the maximum share in 2018.
By application, the ‘peripheral vascular applications’ segment is expected to grow at the fastest, rate with a 6.71% CAGR.
NCBI has conducted a study in which it observed that more than 200 million people around the world have peripheral artery disease (PAD). As a result, atherectomy has been increasingly accepted for treating cardiac and peripheral vascular conditions, which is expected to increase the growth of the peripheral vascular applications segment.
By end-user, the ‘hospitals and surgical centre segment is expected to have the fastest market growth rate, with more than 6.63% CAGR.
The availability of trained professionals and the increase in acceptability and demand for atherectomy to treat cardiac and peripheral vascular diseases have accelerated market growth in this segment.
By region, ‘Asia-Pacific’ is expected to have the highest market growth rate, with a CAGR of 8.2%
In the Asia-Pacific region, socio-economic changes, unhealthy diet, liquor diet, smoking, and demographic ageing have increased target diseases among the population, increasing the demand for atherectomy devices and thereby accelerating market growth. The North American region held the maximum market revenue share in 2016 due to increased R&D spending and the increased availability of trained professionals and infrastructure.
Key Market Leaders
The major competitors in the Global Atherectomy Devices Market are Abbott Laboratories, Boston Scientific Corporation, Medtronic, Becton, Dickinson and Company (BD Interventional), Koninklijke Philips N.V., Avinger, Inc., Rex Medical and AngioDynamics.
Recent Developments