- Peripheral Artery Disease
- Coronary Artery Disease
The global atherectomy devices market size is expected to grow from $ 173 million in 2021 to reach $ 832 million in 2028 at a CAGR of 6.8%. atherectomy devices market is expected to have significant growth rate over forecast period owing to the increase in prevalence of the heart diseases around the world. According to World Health Organization, due to cardiovascular diseases, 17.7 Mn people died in the year 2015, and 7.4 Mn were due to coronary heart diseases. Market is consolidated due to the presence of the strong players. Companies are using the strategies such as acquisitions and collaborations to increase their market share. For instance, In May 2014, Volcano Corporation (subsidiary of Koninklijke Philips N.V.) acquired the atherectomy device producer, AtheroMed, Inc. to strengthen their market share. Similarly, In May 2014, Boston Scientific Corporation strengthened its product portfolio in peripheral vascular devices by the acquisition of Interventional business of Bayer AG for $ 415 Mn in cash. Furthermore, market players also investing in the R&D to develop the new and invasive products by adopting the new technologies. Atherectomy is a minimally invasive surgery to remove the atherosclerotic plaque from arteries. Atherosclerotic plaque either localized in coronary or peripheral atrial vasculature and many have different characteristics based on the texture. Atherosclerotic devices are used for atherectomy. There are various atherectomy devices which are designed based on their mechanisms such as cut, save, sand or vaporize the plaques and have different indications. Atherectomy is an alternative to angioscopy and it is also used for the coronary artery disease. Key Development: In September 2017, Avinger, Inc. has received CE Mark for its Pantheris Lumivascular atherectomy System to treat in-stent restenosis. In March 2017, Cardiovascular Systems, Inc. got approval for its Diamondback 360 Coronary OAS Micro Crown, an orbital atherectomy system from Japanâ€™s Ministry of Health, Labor and Welfare (MHLW).
Fastest Growing Market
The primary driver for the global atherectomy devices market is significant rise in peripheral vascular diseases around the globe. In addition, rise in demand for the minimally invasive devices such as atherectomy devices which shortens the recovery time and provide effective treatment expected to boost the global atherectomy devices market over the forecast period. Furthermore, technological advancements such as emergence of laser atherectomy and rise in aging population who has high risk of getting atherosclerosis are expected to bolster the market share over the forecast period. However, presence of the alternative treatments expected to hamper the market growth over the projected period.
The atherectomy devices market is projected to expand at a CAGR of 6.8% during the forecast period
Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), Cordis Corporation (Cardinal Health, Inc.) (U.S.), R. Bard, Inc. (U.S.), Koninklijke Philips N.V. (Volcano Corporation) (Netherlands), Medtronic Plc (U.S.) .
North America is the fastest-growing region for the atherectomy devices market