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.
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. However, the developing Asia-Pacific countries including China and India are expected to emerge as the new revenue-generating regions for prominent market players during 2017-2022. The growth of this Asia-Pacific market is attributed to the presence of a large patient population for target diseases, rising awareness among surgeons related to the benefits offered by thrombectomy devices, increasing healthcare expenditure, and rising adoption of these devices due to their decreasing costs.
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.
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.
By end user, the market is segmented into hospitals & surgical centers, ambulatory surgical centers, research laboratories & academic institutes, and other end users. Ambulatory surgical centers (ASCs) are expected to be the fastest growing end user segment in the market. This high growth can be attributed to the increasing availability of reimbursement for thrombectomy procedures in outpatient settings, ongoing advancements in minimally invasive surgical techniques, increasing number of image-guided surgeries performed at ASCs, and rising market demand for miniaturized therapeutic devices.