World Atherectomy Devices Industry Outlook, 2025 with Market Share Analysis of Key Players: Cardiovascular Systems (CSI), Medtronic, Koninklijke Philips and Boston Scientific
DUBLIN, March 4, 2020 /PRNewswire/ -- The "Atherectomy Devices Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
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The global atherectomy devices market is expected to grow at a CAGR of over 7% during the period 2019-2025.
The atherectomy devices market is likely to witness significant growth on account of the increasing prevalence of coronary artery disease (CAD) and peripheral artery disease (PAD). Cardiovascular diseases (CVDs) such as CAD and PAD are among the leading causes of death globally. Several factors, which include the growth in the aging population, the rise in diabetes and other lifestyle diseases, and the increase in the percentage of smokers, are expected to contribute to the growth of CVDs, which is likely to increase the demand for the devices.
The increasing use of laser atherectomy as a preferred option for patients with high surgical risk because of poor underlying physiology or complex lesion anatomy is expected to drive the market. Furthermore, the laser systems operate over any guidewire, which is not possible with the other systems.
Hence, the presence of several substantial benefits and the rising demand for advanced treatment for CAD and PAD is driving several market players to focus on the development and commercialization of laser devices. Therefore, the availability of advanced technological features and improved cost-effective clinical outcomes laser devices are projected to boost the global atherectomy devices market during the forecast period.
Key Market Insights
-- The analysis of the atherectomy devices market provides sizing and
growth opportunities for the period 2019-2025.
-- Provides comprehensive insights on the latest industry trends, forecast,
and growth drivers in the market.
-- Includes a detailed analysis of growth drivers, challenges, and
investment opportunities.
-- Delivers a complete overview of segments and the regional outlook of the
market.
-- Offers an exhaustive summary of the vendor landscape, competitive
analysis, and key strategies to gain competitive advantage.
Atherectomy Devices Market: Segmentation
This research report includes a detailed segmentation by procedures, end-user, applications, and geography.
The directional atherectomy segment is growing at a healthy rate. The growth can be attributed to the growing patient population with PAD and CAD. Arterial diseases remain increasingly common disorders and continue to be a major cause of chronic morbidities worldwide. Moreover, promising clinical outcomes of directional procedures for vein graft stenosis is another factor for the growth of the segment.
Orbital atherectomy is a promising new methodology mainly for treating various arterial diseases, including both CAD and PAD. With the aging population worldwide, and the increasing risk of coronary and peripheral artery calcification, the number of surgical procedures for the treatment of arterial plaque is growing at a steady rate. Therefore, the uptake for orbital devices is growing, contributing to future market growth. Further, low procedural complications and low rates of restenosis have led to increased demand for orbital devices.
Patients increasingly prefer to treat diagnosed CVDs in specialty cardiac centers over hospitals as these centers provide specialized cardiac healthcare services to patients. The segment is expected to grow at a significant rate due to the availability of sophisticated infrastructure related to the diagnosis and treatment of CVDs in standalone cardiology centers compared to hospitals. However, the hospital segment is likely to dominate the market due to favorable reimbursement policies and the availability of skilled healthcare professionals.
Ambulatory surgery centers (ASCs) are cost-effective and offer high-quality care with the minimal indirect cost of treatment. ASCs provide advanced operating equipment, specialist surgeons, and well-equipped operating rooms without complex administrative procedures, and such factors are likely to bolster the segment growth. Further, ASCs are expected to witness major growth in developed countries as the end-users focus is increasingly shifting from open cardiovascular surgical techniques to percutaneous-based techniques.
With the rising burden of PAD globally, minimally invasive endovascular treatments such as atherectomy are growing compared to conventional procedures. Moreover, an atherectomy is specifically effective for treating blockages in arteries that happen around branches or in vessels that cannot be treated easily with stents or balloon angioplasty. Hence, their increased application for treating PAD is driving the uptake of these devices across the globe.
The CAD segment is expected to bolster the demand for atherectomy devices on account of the increasing prevalence of CVDs such as CAD. Atherectomy is an advanced treatment option that helps to treat heavily calcified lesions and complex vessel diseases. Hence, these procedures are increasingly replacing balloon angioplasty, which is likely to drive growth.
Insights by Geography
North America is expected to grow at a significant rate due to the increasing preference for minimally invasive surgical procedures. The presence of a large patient pool of PAD and CAD population with increasing adoption of atherectomy devices is likely to drive the market. Further, the demand in the region is expected to be driven by favorable reimbursement policies, technological advancements, and the extensive reach of innovative products.
The European market is likely to grow due to the presence of sophisticated healthcare infrastructure, high awareness regarding the availability of advanced devices, and increased inclination toward minimally invasive surgical approach. Germany, France, UK, Spain, and Italy are the major revenue contributors in the European market. The highest proportion of people with an increased incidence of CAD and PAD is likely to drive the APAC market. Other factors, such as socioeconomic changes, unhealthy diet, smoking, liquor intake, and demographic aging are expected to fuel the demand in the region.
Insights by Vendors
The global atherectomy devices market is moderately competitive and characterized by the presence of a few players. The market is expected to witness rapid technological advancements and new product launches. The key players are facing competition within themselves, and other prominent players are likely to compete by launching technologically advanced devices such as image-guided and laser systems. Multiple product launches, diversified product portfolio, and investment in R&D activities are expected to be key factors for companies to maintain revenue growth during the forecast period.
Key Topics Covered
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusion
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of the Study
4.4 Market Segments
4.4.1 Procedure
4.4.2 Application
4.4.3 End-user
4.4.4 Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 CAD and PAD: An Overview
7.1.1 Background
7.1.2 Atherectomy for the Treatment of CAD and PAD
7.1.3 Atherectomy Devices Market Snapshot
8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Rising Prevalence of Coronary & Peripheral Artery Diseases
8.1.2 Favorable Reimbursement for Atherectomy Procedures
8.1.3 Growing Popularity of Minimally Invasive (MI) Surgical Procedures
8.1.4 Growing Demand for Atherectomy to Treat Small Vessel Diseases & In-Stent Restenosis
8.2 Market Restraints
8.2.1 Threat of Substitutes
8.2.2 Stringent Regulations for Atherectomy Device Approvals
8.2.3 Complications & Risks Associated with Atherectomy
8.3 Market Opportunities and Trends
8.3.1 Increasing Demand for Atherectomy in Office-based Cath Labs
8.3.2 Vendors Increasing Focus on Conducting Clinical Studies on Atherectomy Devices
8.3.3 Growing Popularity of Laser Atherectomy
8.3.4 Technological Advancements
9 Market Landscape
9.1 Market Overview
9.2 Market Size & Forecast
9.2.1 Geography
9.2.2 Procedure
9.2.3 Application
9.2.4 End-user
9.3 Five Forces Analysis
9.3.1 Threat of New Entrants
9.3.2 Bargaining Power of Suppliers
9.3.3 Bargaining Power of Buyers
9.3.4 Threat of Substitutes
9.3.5 Competitive Rivalry
10 Procedure
10.1 Market Snapshot & Growth Engine
10.2 Market Overview
10.3 Directional Atherectomy
10.4 Rotational Atherectomy
10.5 Orbital Atherectomy
10.6 Laser Atherectomy
11 Application
11.1 Market Snapshot & Growth Engine
11.2 Market Overview
11.3 PAD
11.4 CAD
12 End-user
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Hospitals
12.4 Specialty Cardiac Centers
12.5 ASCs
12.6 Office-based Cath Labs
13 Geography
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
14 North America
15 Europe
16 APAC
17 Latin America
18 Middle-East & Africa
19 Competitive Landscape
19.1 Competition Overview
19.2 Market Share Analysis
19.2.1 Cardiovascular Systems, Inc.
19.2.2 Medtronic
19.2.3 Koninklijke Philips
19.2.4 Boston Scientific
20 Key Vendors
20.1 Cardiovascular Systems, Inc.
20.1.1 Business Overview
20.1.2 Major Product Offerings
20.1.3 Key Strengths
20.1.4 Key Strategies
20.1.5 Key Opportunities
20.2 Medtronic
20.3 Koninklijke Philips
20.4 Boston Scientific
21 Other Prominent Vendors
21.1 Avinger
21.1.1 Business Overview
21.1.2 Major Product Offerings
21.2 EXIMO Medical
21.3 REX Medical
21.4 RA Medical Systems
21.5 Straub Medical
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