What are Key Factors Driving Growth in Atherectomy Devices Market?
The growth witnessed by
atherectomy devices is mainly driven by the growing target patient population,
continuous product development & commercialization, favorable medical
reimbursements, rising demand for minimally invasive atherectomy procedures, and
strengthening distribution channels of major product manufacturers.
How Global Market Will Grow in Coming Years?
The global atherectomy
devices market is projected to reach USD 1.45 Billion by 2022 from USD 1.08
Billion in 2017, at a CAGR of 6.1%.
The
Objective of Research is as Follows:
1. To define,
describe, and forecast the global market on the basis of product, application,
end user, and region.
2. To provide detailed information regarding the major factors influencing the
growth of the market (drivers, opportunities and industry-specific challenges).
3. To strategically analyze micromarkets with respect to individual growth
trends, future prospects, and contributions to the overall market.
4. To analyze the opportunities in the market for stakeholders and provide
details of the competitive landscape for the market leaders.
5. To forecast the size of the market with respect to five regions: North
America, Europe, Asia Pacific, and the Rest of the world.
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Which Product Segment to Dominate The Atherectomy Devices Industry?
The directional
atherectomy devices segment accounted for the largest share of the market. It
is also expected to register the highest CAGR during the forecast period. This
can be attributed to clinical benefits offered (such as lack of barotrauma,
less risk of neointimal hyperplasia, immediate change of bypass site, and
availability of differently sized instruments to enable atherectomy in blood
vessels) and ongoing technological advancements in the field of directional atherectomy.
Which
are The Applications Driving Growth in Atherectomy Devices Industry?
The market is
categorized into peripheral vascular, cardiovascular, and neurovascular
applications. The peripheral vascular applications segment accounted for the
major share of the market owing to the significant availability of clinical
evidence to support the therapeutic efficacy of atherectomy in PVD treatment
and growing patient preference for minimally invasive surgical procedures.
Regional Growth and Demand Factors Analysis:
Geographically, the market is segmented into North America, Europe, Asia
Pacific, and the Rest of the World. North America is expected to account for
the largest share of the market in 2017, followed by Europe. Factors such as
increasing availability of reimbursements for atherectomy devices, growing
adoption of atherectomy devices among medical professionals, large patient
population of peripheral & coronary artery diseases, and growing number of
clinical trials are driving the growth of the North American atherectomy
devices market. However, Asia Pacific is expected to register the highest
growth rate during the forecast period.
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Key Players and Strategies Adopted by Them:
Major players operating in the market are Medtronic (Ireland), Philips
(Netherlands), Boston Scientific (US), and Cardiovascular Systems (US). Other
prominent players present in this market include Straub Medical (Switzerland),
BIOTRONIK (Netherlands), C.R. Bard (US), and Avinger (US).
