DUBLIN--(BUSINESS WIRE)--The "Global Thrombectomy Devices Market: Growth, Trends and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global population is aging rapidly, owing primarily to the reduced birth rates, stressed lifestyle, and increasing life expectancy. The geriatric population is at greater risk of developing multiple disease conditions, which would need surgical interventions for the treatment.
According to the United Nations report, 2019, the number of people above 65 years of age will be 1 in 6 by 2050 and globally, there were 703 million older persons aged 65 or over in 2019.
The growing trend of the geriatric population is leading to an increase in the prevalence of cardiovascular diseases. The growing burden of strokes across the world is demanding innovative products with high efficacy, leading to growth in the sales of stent retrievers for effective thrombectomy related procedures, thus driving the thrombectomy devices market.
Key Market Trends
The Mechanical Thrombectomy Devices Segment is Expected to Hold a Major Share in the Market
Mechanical thrombectomy devices comprise a wide number of endovascular tools cleared for removing thrombi from the neurovasculature in acute ischemic stroke patients. There is a significant percentage of the stroke patient population who are eligible for treatment with thrombolysis. As per the NHS England commissionary policy reported in 2018, about 12% of all people with stroke are eligible for mechanical thrombectomy procedures.
Two of the first generation mechanical thrombectomy devices include the Merci Retriever system by Stryker and the Penumbra Aspiration device by Penumbra. These devices have been widely appreciated. Merci Retriever was among the first endovascular devices to receive FDA approval in the United States. There are several established players in this segment, such as Acandis, J&J, and Sela Medical, among others.
The mechanical thrombectomy is one of the most used approaches to recanalization in patients with large-artery occlusion who have not responded to intravenous fibrinolysis. The demand is expected to be consistently growing and should be a major part of the thrombectomy devices market because of its good success rate in reducing the stroke-related disability and mortality.
North America Expected to Dominate the Market Over the Forecast Period
The increasing burden of cardiac patients, technological advancements in the devices to attain better clinical outcomes, and increasing demand for minimally invasive products are driving the thrombectomy devices market in the United States.
According to the CDC, nearly 800,000 people in the United States have a stroke every year. Stroke is the fifth major cause of death in the United States, killing nearly 130,000 people a year. The increasing burden of stroke is leading to an increasing demand for interventional procedures. Thus, this is driving the market.
As per a recent publication (2018) by the American Heart Association (AHA) Journals, about only two-thirds of the US population have direct access to endovascular therapy (EVT) for stroke within an hour. This has raised concerns to improve the accessibility and shorten the time to EVT to give patients the best chance for an excellent outcome after strokes.
The growth in the adoption rate has been steady with the focus on several other diseases, such as pulmonary embolism. Over the forecast period, with the favorable reimbursement scenario for medical devices and aforementioned factors, the market is estimated to grow consistently in the North American region.
The thrombectomy market is moderately competitive and consists of global and local players. However, new entrants in the market are expected to hold a substantial share. Stryker, Boston Scientific, Medtronic, and Terumo Corporation are some of the global companies in this market.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Geriatric Population Leading to Increase in CVDs Related Patients
4.2.2 Technological Advancements in Medical Devices Used for Capturing Blood Clots
4.2.3 Increased Awareness Regarding Early Diagnosis of Diseases
4.3 Market Restraints
4.3.1 Shortage of Trained Professionals
4.3.2 High Cost and Difficultly Use of Devices for Complex Morphologies
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Aspiration Thrombectomy Devices
5.1.2 Mechanical Thrombectomy Devices
5.1.3 Ultrasonic Thrombectomy Devices
5.1.4 Other Product Types
5.2 By Application
5.2.1 Cardiovascular Thrombectomy
5.2.2 Neurovascular Thrombectomy
5.2.3 Peripheral Vascular Thrombectomy
5.3 By End User
5.3.2 Ambulatory Centers
5.3.3 Other End Users
5.4.1 North America
5.4.4 Middle-East & Africa
5.4.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Argon Medical Devices Inc.
6.1.2 Boston Scientific Corporation
6.1.3 Edwards Lifesciences Corporation
6.1.4 Johnson & Johnson
6.1.5 Medtronic PLC
6.1.6 Penumbra Inc.
6.1.7 Koninklijke Philips N.V. (Spectranetics)
6.1.8 Terumo Corporation
6.1.9 Straub Medical AG
6.1.10 Stryker Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/eejz9k