Leeds, UK -- (SBWire) -- 07/12/2019 --Global neurovascular thrombectomy devices market value over USD 3 billion by 2029 end and register a CAGR of over 6.6% from 2019 to 2029.
Neurovascular thrombectomy devices are mainly employed in the arteries, veins, and capillaries to diffuse blood clots while causing minimal damage and blood loss. Diseases such as acute myocardial infarction, peripheral arterial diseases, deep vein thrombosis, pulmonary embolism, and neurovascular thrombosis conditions.
The growth of neurovascular thrombectomy devices market is attributed to the rising instances of chronic diseases due to the increasingly sedentary lifestyle of the public. The deteriorating health conditions and the further rise in geriatric population globally also further promote the market and its growth. With the advancements in technology and medical sciences, efficient and improved healthcare infrastructure is making the procedures minimally invasive and this is helping the market have a positive favourable trajectory during the forecast period. The developments in the industry are, for instance, the U.S. FDA has approved numerous thrombectomy devices. Penumbra Inc, is a global healthcare company focused on innovative therapies that address challenging medical conditions, received a clearance from the U.S. FDA to market to help patients with acute ischemic stroke using its new aspiration thrombectomy system for the revascularization of large vessel occlusions. Similarly, Medtronic plc, the world's largest medical device company, got its neurovascular business unit received clearance and got approved by U.S. FDA for the Riptide(TM) Aspiration System. Furthermore, CERENOVUS, part of the Johnson & Johnson Medical Devices Companies, was approved by U.S. FDA for EMBOTRAP II Revascularization Device, a next-generation stent retriever used post an ischemic stroke, to treat life-threatening blood clots in the brain.
However, the lack of specifically skilled professionals and complicated mechanisms and devices restrict the market growth. Furthermore, illnesses such as deep vein thrombosis and pulmonary embolism sometimes due to very undistinct symptoms go undiagnosed while leading to prolonged serious health conditions, which can be assisted and erased by awareness to counter ignorance and regular precise diagnosis
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Neurovascular Thrombectomy Market: Segmentation
By Product Type
> Stent Retriever
> Aspiration Catheter
The aspiration catheter is a type of manual thrombectomy devices which dominated the market and are expected to continue doing so during the forecast period. These devices are efficient in power consumption and cost-effective as well.
By End User
> Hospitals
> Neuro-Catheterization Labs
> Specialized Neurosurgery Centers
The hospital's sector occupies major market share as they provide help on an immediate basis. The increasing need for miniaturized efficient therapeutic devices and technological advancements to improve minimally invasive surgical techniques are also responsible for the growth of this segment.
By Region:
> Europe
> North America
> APAC
> Latin America
> Rest of World
North America is expected to lead the market due to technological improvements and a vast demand for the devices. On the other hand, the demand is rising in the Asia Pacific and is expected to rise at the highest CAGR during the forecast period.
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Competitive Landscape:
> Tier 1 players- established companies in the market with a major market share
> Tier 2 players
> Emerging players which are growing rapidly
> New Entrants
Significant firms operating in this market are Boston Scientific Corporation, Medtronic Plc., Teleflex Incorporated, Penumbra Inc., Koninklijke Philips N.V., AngioDynamics, Inc., Terumo Corporation, Johnson and Johnson, Stryker Corporation, and Capture Vascular, Inc.
The growing competition and continuous technological advancements have led to acquisitions by major players in the U.S. thrombectomy devices market. For instance, in 2017, Philips, one of the largest electronics companies in the world proceeded and acquisition of The Spectranetics Corporation, a U.S.-based global leader in vascular intervention and lead management solutions. Similarly, Penumbra Inc., a global healthcare company focused on innovative therapies that address challenging medical conditions, executed the acquisition of a controlling interest in its joint venture with Sixense Enterprises, a leading developer of immersive computing solutions for companies across industries, primary healthcare gave rise to MVI Health Inc, to develop virtual reality technology for healthcare applications.
FutureWise Takeaways
> Growth prospects
> SWOT analysis
> Key trends
> Key data points affecting market growth
Objectives of the Study:
> To provide an exhaustive analysis on the neurovascular thrombectomy market by product, by end-user and by region
> To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
> To evaluate and forecast micro-markets and the overall market
> To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East.
> To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
> Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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