New York, October 06, 2021 – Reports and Data has published its latest report titled “Atherectomy Market By Type (Squamous Cell Carcinoma, Large Cell Carcinoma, Adenocarcinoma), By Application (Surgery, Radiology, Chemotherapy, Immunotherapy, Targeted Drug Therapy), And By End-Use, Forecasts To 2028.”
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Increasing demand for minimally invasive atherectomy procedures, favorable medical reimbursements, and continuous technological developments are some key factors driving market growth
According to Reports and Data, the global atherectomy market size was USD 1.30 billion in 2020 and is expected to reach USD 2.01 billion in 2028 and register a revenue CAGR of 6.4% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities
Atherectomy is a minimally invasive technique to remove plaque from blood vessel. Plaque removal widens the artery, allowing more blood to flow freely to the heart muscles. The plaque is shaved or vaporized away during an atherectomy with tiny rotating laser or blades on the end of a catheter. Peripheral arterial disease and coronary artery disease are treated with this treatment. Patients with very hard plaque or those who have already had angioplasty and stents but still have plaque restricting blood flow may benefit from surgical atherectomy.
Ongoing R&D activities and technological advancements in the healthcare industry along with the government favorable regulations are some factors expected to positively impact revenue growth of the market over the forecast period. In addition, growing awareness regarding atherectomy, rising cases of peripheral artery diseases, and increasing popularity of minimally invasive procedures are some other key factors contributing to the revenue growth of the market.
However, risks associated with atherectomy treatments, stringent regulatory framework, and high cost of treatment are some major factors expected to restrain global atherectomy market revenue growth over the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Excisional Type to Account for Largest Revenue Share:
Excisional (also known as Directional Atherectomy) segment is expected to account for largest revenue share in the global market over the forecast period attributed to improved efficiency low treatment cost, and decrease the risk of dissection and neointimal hyperplasia.
Peripheral Artery Disease Segment to Dominate Other Application Segment:
Peripheral Artery Disease segment is expected to dominate other application segment over the forecast period attributed to technological advancements in PVD treatment, and increasing availability of medical reimbursements regarding peripheral atherectomy procedures.
North America to Account for a Significantly Large Revenue Share:
North America is expected to account for a significantly large revenue share over the forecast period owing to ongoing technological advancements in healthcare system that makes accessing atherectomy much easier, growing number of patients suffering from Peripheral Artery Diseases (PAD), and availability of government financial aids.
Asia Pacific to Lead in Terms of Revenue CAGR:
Asia Pacific market revenue is expected to expand at a robust revenue CAGR over the forecast period attributed to expansion of the R&D activities, rapid urbanization, growing popularity of minimal intrusive treatments and rising technological advancements in medical treatments. In addition, rapid healthcare infrastructural developments especially in emerging economies (such as India and China), where hospitalization is at large scale, drive revenue growth of the APAC market.
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Major Companies in the Market Include:
- Phillips Healthcare
- Bayer AG
- BARD Peripheral Vascular Inc.
- Boston Scientific
- Cardiovascular Systems Inc.
- Avinger Inc.
For the purpose of this report, Reports and Data has segmented the global atherectomy market on the type, application, end use, and region:
Type Outlook (Revenue: USD Billion; 2020-2028)
Application Outlook (Revenue: USD Billion; 2020-2028)
- Peripheral Artery Diseases
- Coronary Artery Disease
- Neurovascular Disease
End Use Outlook (Revenue, USD Billion; 2018-2028)
- Ambulatory Care Centres
- Medical Research Institutes
- Cardiac Catherization Lab
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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