USD 1.45 billion
Global Mechanical Thrombectomy Devices Market Size, Share, Growth Analysis, By Product(Aspiration devices and stent retrievers, catering to ischemic stroke treatment), By End-users(Hospitals, clinics) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2563 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
62 |
Figures:
75
Global Mechanical Thrombectomy Devices Market Insights
Global Mechanical Thrombectomy Devices Market size was valued at USD 1.45 billion in 2022 and is poised to grow from USD 1.55 billion in 2023 to USD 2.60 billion by 2031, at a CAGR of 6.7% during the forecast period (2024-2031).
The global mechanical thrombectomy devices market has witnessed significant growth due to the rising incidence of stroke and vascular diseases.
There has been a broader healthcare trend towards minimally invasive procedures, and this extends to the field of thrombectomy as well. Mechanical thrombectomy offers a less invasive alternative to traditional surgical methods for treating conditions like ischemic stroke caused by blood clots.
Patients and healthcare providers alike have been seeking procedures that minimize trauma, reduce recovery time, and offer better outcomes. This shift has supported the adoption of mechanical thrombectomy devices as a preferred treatment option.
Factors such as technological advancements, increasing geriatric population, and improving healthcare infrastructure have propelled market expansion.
Key players are focusing on product innovation, clinical trials, and strategic collaborations to enhance their market presence.
However, cost constraints and limited awareness in some regions remain challenges. As the demand for efficient clot removal solutions persists, the market is expected to continue its upward trajectory.
US Mechanical Thrombectomy Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
clinics
Fastest Growth
Hospitals
Growth Rate
6.7% CAGR
Global Mechanical Thrombectomy Devices Market by region
Country Share for North America(%)
Global Mechanical Thrombectomy Devices Market by end-user
Global Mechanical Thrombectomy Devices Market by end-user
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Global Mechanical Thrombectomy Devices Market Segmental Analysis
The global mechanical thrombectomy devices market can be segmented based on product, end user, and region. Product types include aspiration devices and stent retrievers, catering to ischemic stroke treatment. Applications encompass ischemic strokes, peripheral artery diseases, and more. End users involve hospitals, clinics, and ambulatory surgical centers. Geographically, the market is divided into North America, Europe, Asia-Pacific, and the rest of the world.
Mechanical Thrombectomy Devices Market Analysis By Product
Stent retrievers were one of the largest segments within the mechanical thrombectomy devices market. These devices gained significant attention due to their ability to effectively remove clots and improve patient outcomes in stroke cases.
Aspiration devices were often considered one of the fastest growing segments. Advances in aspiration technology, improved device designs, and positive clinical outcomes contributed to the growth of this segment.
Mechanical Thrombectomy Devices Market Analysis By End-user
The largest segment within the mechanical thrombectomy devices market is often related to the type of devices being used. Mechanical thrombectomy devices can be classified into various types, such as aspiration catheters, stent retrievers, and mechanical suction devices. The stent retrievers’ segment was one of the largest and most significant segments, as these devices gained popularity for their efficacy in treating stroke patients by mechanically removing clots from cerebral arteries.
The fastest-growing segment within the mechanical thrombectomy devices market could be attributed to factors such as technological innovation, increasing prevalence of clot-related conditions, and emerging markets' adoption of advanced medical devices. At the time of my last update, the stent retrievers’ segment was one of the fastest-growing segments due to its effectiveness in treating acute ischemic stroke.
Global Mechanical Thrombectomy Devices Market by end-user, 2022 (%)
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Global Mechanical Thrombectomy Devices Market Regional Insights
North America, particularly the United States, has historically been a major market for medical devices due to its advanced healthcare infrastructure and high healthcare spending. The region has been a significant contributor to the mechanical thrombectomy devices market, driven by factors such as a large patient population and a strong emphasis on adopting innovative medical technologies. Europe is another prominent market for mechanical thrombectomy devices. Countries within the European Union have a well-established healthcare system and high awareness about cardiovascular diseases. As a result, the adoption of advanced medical devices, including mechanical thrombectomy devices, has been significant.
The Asia-Pacific region, including countries like China, Japan, and India, has been experiencing rapid growth in its healthcare infrastructure. Increased healthcare expenditure, growing awareness of advanced medical treatments, and a rising geriatric population have contributed to the growth of the mechanical thrombectomy devices market in this region. Additionally, there has been a focus on improving stroke care in many Asian countries, which has driven the demand for such devices.
Global Mechanical Thrombectomy Devices Market by Region, 2024-2031
- Largest
- Fastest
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Global Mechanical Thrombectomy Devices Market Dynamics
Mechanical Thrombectomy Devices Market Drivers
Increasing Incidence of Stroke
- The primary driver for the mechanical thrombectomy devices market is the rising incidence of strokes, particularly ischemic strokes. These devices are used to effectively remove blood clots from blocked arteries, reducing the risk of disability and death associated with strokes. As the global population ages and the prevalence of risk factors such as hypertension, diabetes, and obesity continue to rise, the demand for mechanical thrombectomy procedures is expected to increase.
Technological Advancements
- Advances in technology have led to the development of more sophisticated and effective mechanical thrombectomy devices. These devices have become more precise, minimally invasive, and capable of achieving better clot removal rates. As the technology improves, the outcomes of mechanical thrombectomy procedures are expected to become more favorable, driving demand for these devices.
Mechanical Thrombectomy Devices Market Restraints
High Costs
- Mechanical thrombectomy procedures and the devices themselves can be expensive. The cost of the devices, coupled with the expenses associated with the procedure itself, including hospitalization and post-operative care, can be a significant barrier. Health systems, insurance companies, and patients might face challenges in covering these costs, potentially limiting the adoption of mechanical thrombectomy devices.
Limited Access to Specialized Care
- Mechanical thrombectomy procedures require specialized medical expertise and infrastructure, including skilled interventional neuroradiologists and equipped catheterization laboratories. In regions with limited access to these resources, patients might not receive timely and effective treatment, impacting the adoption of mechanical thrombectomy devices.
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Global Mechanical Thrombectomy Devices Market Competitive Landscape
The global mechanical thrombectomy devices market features intense competition among key players vying for market share. Established companies like Medtronic, Stryker, and Penumbra continue to dominate, leveraging their extensive R&D capabilities and broad product portfolios. New entrants are striving to innovate and differentiate themselves with advanced technologies and targeted solutions. Partnerships, acquisitions, and product launches are frequent strategies employed to expand market presence. Factors such as clinical efficacy, safety, and ease of use remain crucial in shaping competitive dynamics. As the market evolves, players are focused on enhancing patient outcomes through cutting-edge thrombectomy solutions and strategic collaborations.
Mechanical Thrombectomy Devices Market Top Player’s Company Profiles
- Medtronic - USA
- Stryker Corporation - USA
- Penumbra, Inc. - USA
- Johnson & Johnson - USA
- Boston Scientific Corporation - USA
- Terumo Corporation - Japan
- Teleflex Incorporated - USA
- BTG plc (acquired by Boston Scientific) - UK
- Acandis GmbH - Germany
- AngioDynamics, Inc. - USA
- Capture Vascular - USA
- Argon Medical Devices, Inc. (acquired by Merit Medical) - USA
- Rapid Medical - Israel
- Phenox GmbH - Germany
- Penumbra, Inc. - USA
- Shape Memory Medical Inc. - USA
- Inari Medical - USA
- Claret Medical (acquired by Boston Scientific) - USA
- Vascular Solutions (acquired by Teleflex) - USA
- The Spectranetics Corporation (acquired by Philips) - USA
Mechanical Thrombectomy Devices Market Recent Developments
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In December 2023, Rapid Medical, a leading developer of advanced neurovascular devices, announced Japanese approval for its TIGERTRIEVER revascularization device. With Pharmaceuticals and Medical Devices Agency (PMDA) approval, TIGERTRIEVER serves as the first device to offer individualized solutions for mechanical thrombectomy.
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In October 2023, Akura Medical, a Shifamed portfolio company, announced the closing of a $35 million Series B financing round.
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In June 2023, medical device company Inari Medical launched two new purpose-built thrombectomy catheters to address the needs of venous stent thrombosis and venous thromboembolism (VTE).
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Global Mechanical Thrombectomy Devices Key Market Trends
- Technological Advancements and Product Innovation: One significant trend in the mechanical thrombectomy devices market has been the continuous advancement of technology and product innovation. Manufacturers have been working on developing more efficient, precise, and minimally invasive devices for clot removal. This includes improvements in device design, imaging capabilities, and integration of robotic or navigation technologies to enhance the overall effectiveness and safety of the procedure.
- Increasing Prevalence of Stroke and Cardiovascular Diseases: The rising incidence of stroke and cardiovascular diseases globally has been driving the demand for mechanical thrombectomy devices. As the aging population increases and risk factors such as obesity and sedentary lifestyles persist, the number of cases requiring thrombectomy procedures has been on the rise. This trend has led to a growing need for advanced and accessible treatment options, contributing to the growth of the mechanical thrombectomy devices market.
Global Mechanical Thrombectomy Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global mechanical thrombectomy devices market is poised for promising growth, driven by rising cases of vascular diseases and strokes. Advances in technology, such as improved clot retrieval efficiency and minimally invasive techniques, will fuel adoption. Additionally, growing awareness about early intervention and favorable reimbursement policies will contribute to market expansion. Collaboration between medical device companies and healthcare providers to enhance product innovation and accessibility in emerging economies will play a pivotal role. However, regulatory challenges and competition within the sector may pose constraints. Overall, the market's trajectory is optimistic, underpinned by a pressing need for efficient thrombectomy solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.45 billion |
| Market size value in 2031 | USD 2.60 billion |
| Growth Rate | 6.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Mechanical Thrombectomy Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Mechanical Thrombectomy Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Mechanical Thrombectomy Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Mechanical Thrombectomy Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Mechanical Thrombectomy Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Mechanical Thrombectomy Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Mechanical Thrombectomy Devices Market Report Snapshots
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