Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global atherectomy devices market, by device type (Directional Atherectomy Devices, Rotational Atherectomy Devices, Orbital Atherectomy Devices, and Laser Atherectomy Devices), by application (Cardiovascular, Neurovascular, and Peripheral Vascular), by end-user (Hospitals, Ambulatory Surgical Centers, and Medical Institutes) and by region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa), was valued at US$ 504.5 million in 2016 and is projected to witness a magnificent 6.2% CAGR over the forecast period (2017-2025). Rising prevalence of cardiovascular diseases worldwide augments the demand for atherectomy devices, which in turn, creates a highly lucrative environment for the global atherectomy devices market growth.
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In the recent years, new, more advanced atherectomy devices have gained many significnat approvals by major regulatory authorities around the world. This happens to be an important growth driver for the global atherectomy devices market. For instance, in 2015, Spectranetics Corporation received the U.S. FDA approval for Turbo-power laser atherectomy catheter, which is indicated for the treatment of in-stent restenosis. In 2017, Avinger, Inc. received the Conformité Européenne (CE) marking approval for its next-generation Pantheris Lumivascular atherectomy system. In 2017, Ra Medical Systems launched the DABRA Atherectomy System in Northern Europe. Furthermore, Medtronic Plc. introduced its HawkOne directional atherectomy system for the treatment of peripheral arterial diseases in 2015.
The global atherectomy devices market has witnessed multiple mergers and acquisitions over the past few years, which have helped several leading companies strengthen their atherectomy device portfolios, thereby reinforcing their positions in the global market. In 2014, Boston Scientific Corporation acquired the interventional business of Bayer AG. The AngioJet Thrombectomy System, Fetch 2 Aspiration Catheter, and JetStream Atherectomy System are integral parts of this business. Moreover, in 2014, Medtronic Plc acquired Covidien Plc, with the aim to expand its atherectomy device portfolio. Following this acquisition, Medtronic became the sole owner of the leading atherectomy devices, such as HawkOne, TurboHawk, and numerous others.
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Key Market Takeaways:
- North America is poised to witness rampant growth over the forecast timeline, which would be supported by the increasing launches of novel atherectomy devices in the region. The leading players in the North America market have consistently been involved in R&D activities to develop more innovative products.
- The major players operating in the global atherectomy devices market include Medtronic plc, Koninklijke Philips N.V., Cardiovascular Systems, Inc., Boston Scientific Corporation, Avinger, Inc., C. R. Bard, Inc., Cardinal Health, Inc., Minnetronix, Inc., Straub Medical AG, and Biotronik.
- Certain leading medical device manufacturers, such as Medtronic plc and Boston Scientific Corporation, focus on the inorganic growth model by acquiring competitor or competitor’s business unit related to atherectomy device.
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