LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global coronary atherectomy devices market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research study by Technavio on the global coronary atherectomy devices market for 2017-2021 provides a detailed industry analysis based on the technology (laser atherectomy, orbital atherectomy, and rotational atherectomy), end-users (hospitals and ambulatory surgical centers), and geography (the Americas, EMEA, and APAC).
A coronary atherectomy device is used in a non-surgical procedure to remove atherosclerotic plaque from coronary arteries and vein grafts. Technavio analysts forecast the global coronary atherectomy devices market to grow to USD 199.64 million by 2021, at a CAGR of more than 5% over the forecast period.
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The top three emerging trends driving the global coronary atherectomy devices market according to Technavio healthcare and life sciences research analysts are:
- Increase in mergers and acquisitions (M&As)
- Increasing focus on emerging trends
- Increasing number of cath labs
Increase in mergers and acquisitions
“Companies are extensively adopting the M&A strategy to expand their global market foothold, thereby increasing their product offerings, enhancing technology, and combine R&D capabilities,” says Neha Noopur, a lead analyst at Technavio for cardiovascular devices research.
For instance, Boston Scientific is largely focusing on increasing the number of acquisition to enhance their global presence. In 2015, Boston Scientific acquired MValve Technologies, and Endo Pharmaceutical to strengthen their market position.
Increasing focus on emerging trends
Developing countries present an immense growth potential in the coronary atherectomy devices market since a larger segment of these countries is vastly untapped. This attracts a plethora of opportunities for vendors, drawing them to countries such as Brazil, China, India, and Thailand.
The vendors need to focus on increasing their product offerings, increasing awareness, and provide treatment at affordable prices to successfully establish a market foothold. Most of the developing countries have increased their health care spending and improving the availability of high-quality treatment options, opening easy opportunities to the market players.
Increasing number of cath labs
Cath labs are equipped with advanced diagnostic imaging systems to visualize arteries and chambers of the heart to diagnose and treat various conditions successfully. These labs mainly conduct tests and procedures for angioplasty, angiogram, and pacemaker implantation.
“The volume of cardiac and coronary interventions in cath labs has been increasing in the recent years. These labs have been successful in handling complex coronary and valvular cases safely, driving the adoption of coronary atherectomy devices,” says Neha.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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