LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global mechanical thrombectomy devices market to grow at a CAGR of more than 6% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global mechanical thrombectomy devices market for 2017-2021. The market is segmented based on end-user (hospitals and ASCs) and geography (the Americas, EMEA, and APAC).
The mechanical thrombectomy devices market is expected to grow at a steady rate during the forecast period. These devices are the gold standard for the treatment of blood clot and revascularization, despite the higher demand for aspiration and rheolytic thrombectomy devices. Public awareness is rising for the early diagnosis of PAD and related disorders to avoid the further blockage of arteries. Surgeon's preference for the use of mechanical thrombectomy devices is high, due to the ease of use and high success rate.
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Technavio healthcare and life sciences research analysts highlight the following factors that are contributing to the growth of the global mechanical thrombectomy devices market:
- Rising prevalence of CVDs and cerebrovascular diseases
- Increasing product approvals and patents
- Acquisition of small specialized hospitals by Tier-1 hospitals
Rising prevalence of CVDs and cerebrovascular diseases
The rise in prevalent cases of CVDs and cerebrovascular diseases is driving the market growth, with the increased use of thrombectomy devices for the removal of blood clots. Mechanical thrombectomy is one of the conventional products used for the treatment of stroke and CVDs. Some of the common CVDs where blood clots occur are CHDs and PVDs.
Srinivas Sashidhar, a lead cardiovascular devices research analyst at Technavio, says, “According to the CDC, in 2015, VTE cases included PE and DVT. The statistics of VTE cases is difficult to gather, but according to the CDC, about 900,000 people are affected by PE/DVT each year in the US. The higher incidence rate drives the procedure volume and impacts the growth of the market.”
Increasing product approvals and patents
Several devices are available in the market to treat CVDs and other related medical conditions. The blockage of arteries is one of the common medical conditions in CVDs. To treat the blockage and the dissolution of thrombus, there are several products in the market for the revascularization and normal blood flow in the arteries. Many product patents are being filed for product approvals and the treatment of thrombosis.
“In the US market, Penumbra has launched the latest thrombectomy device, the ACE 68 Reperfusion Catheter. This provides an opportunity to the surgeon to facilitate reverse stroke, which is a cost-effective procedure. In the last quarter of FY2016, the company recorded increased sales of thrombectomy device in the peripheral vascular business segment,” adds Srinivas.
Acquisition of small specialized hospitals by Tier-1 hospitals
The growing trend of acquiring hospitals has helped to increase the patient care management, which has indirectly impacted the growth of the mechanical thrombectomy devices market. Large hospitals acquire smaller ones, which helps to train the healthcare staff, including the physicians and nurses. This helps in the enhancement of their skills and ensures positive outcomes in patient management and diagnosis of PAD.
The presence of skilled professionals for PAD techniques (vascular specialists) and limb amputation in the US has led to an increase in the procedure volumes. The techniques used by healthcare professionals have improved with the increasing number of M&As of hospitals, which helped in the growth of peripheral vascular procedures and mechanical thrombectomy procedures.
Top vendors:
- Boston Scientific
- Medtronic
- Teleflex
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