Global Thrombectomy Devices Market – Insights
Thrombectomy means the physically removing the soft thrombus. A device of thrombectomy is simple to use that regularly opens the blood vessels. Thrombectomy device usage can enhance neurological outcomes for a long-term through providing high rate of procedural recanalization. Thrombectomy devices could be utilized within patients for whom the pharmacological treatments including thrombolysis are probably inappropriate or ineffective, for instance, in recent surgery cases or within patients that are on oral anticoagulants.
The global thrombectomy devices market size was accounted for US$ 1.03 billion in 2017, and is projected to exhibit a CAGR of 7.4% during the forecast period (2018 – 2026).
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Global Thrombectomy Devices Market – Drivers
As per 2018 report from the National Institute for Health and Care Excellence (NICE), the risks of stroke surges with age, where the prevalence of getting stroke is greater within men and people of Asia. Thrombectomy treatment offers an alternative within the lack of access to care standards including thrombolysis, which is contraindicated through pregnancy.
Increasing demands for the process that are minimally invasive combined with increased prevalence of stroke, pulmonary embolism (PE), and deep vein thrombosis (DVT), are expected to propel the global thrombectomy devices market growth over the forecast period. As per a 2018 report from the World Health Organization, the second most frequent death cause globally is stroke, accounting for 6.7 Mn deaths related to stroke every year. Furthermore, the disease burden disease caused due to stroke is expected to double globally, by 2030.
Global Thrombectomy Devices Market – Restraints
High expense of devices for thrombectomy ultimately increases the cost of procedure, which in turn, is a massive setback for adoption of surgery. As per the July 2018 data, NICE, the mechanical thrombectomy device cost ranges among US$ 700 – US$ 1,719 for the aspiration catheters whereas US$ 1,911 – US$ 6,372 for the stent retrievers excluding taxes for each unit. Moreover, several side effects of the thrombectomy devices include bleeding through the area of the catheter insertion, and bruise appearance within the area resulting to pain. Furthermore, along with the blood clot breakdown, there is a release of chemicals, which could affect the function of kidney temporarily or seldom the heart.
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Global Thrombectomy Devices Market – Regional Insights
Based on region, the global thrombectomy devices market is segregated into North America, Europe, Latin America, Europe, Asia Pacific, Africa, and Middle East. The Europe thrombectomy devices market is expected to produce significant share in the revenue over the forecast period, due to rising prevalence of strokes combined with rising geriatric population. As per 2013 report form the Lancet journal, every year 152,000 people in the U.K. are affected by stroke, which is equivalent to 1 individual per 3.45 minutes. As per the 2017 report by Health Information and Quality Authority, diseases related to circulatory systems including coronary heart disease and stroke were most frequent causes of death, with 33% of all deaths of 2014, in Ireland.
Asia Pacific is expected to register robust growth, due to rising patient population and increasing disposable income between regional populace. As per 3013 repot from the National Center for Biotechnology Information (NCBI), every year the stroke prevalence is around 119-145 /100,000 of population, in India. As per the Lancet journal published study, stroke and heart disease in India raised by above 50 percent from 1990 till 2016. The mortality and stroke severity rate was higher between women.
Global Thrombectomy Devices Market – Competitive Landscape
Major players functioning in the global thrombectomy devices market are Applied Medical, Boston Scientific Corporation, Argon Medical Devices, Inc., BTG International, Claret Medical, Capture Vascular, Control Medical Technology, Johnson & Johnson, Edwards Lifesciences CorporationMedtronic PLC, Merit Medical Systems, Inc., Nexgen Medical Systems, Inc., Minnetronix, Inc., Natec Medical Ltd., Phenox GmbH, Penumbra, Inc., Stentys SA, Straub Medical AG, Teleflex Incorporated, Spectranetics Corporation, Stryker Corporation, and Terumo Corporation.
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