USD 1.28 billion
Global Thrombectomy Devices Market Size, Share, Growth Analysis, By Type(Aspiration Devices, Mechanical Devices), By Application(Cardiovascular, Neurovascular and Peripheral Vascular) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2258 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
62 |
Figures:
74
Global Thrombectomy Devices Market Insights
Global Thrombectomy Devices Market size was valued at USD 1.28 billion in 2022 and is poised to grow from USD 1.37 billion in 2023 to USD 2.31 billion by 2031, growing at a CAGR of 6.80% during the forecast period (2024-2031).
The global market has witnessed significant growth in recent years, driven by several factors such as the increasing incidence of cardiovascular diseases, advancements in technology, and a growing geriatric population. Advancements in technology have also played a pivotal role in the growth of the global market. Manufacturers have been investing in research and development activities to introduce innovative and minimally invasive devices that provide better patient outcomes. For instance, the development of stent retriever devices, which are designed to remove clots from large blood vessels, has revolutionized the treatment of acute ischemic stroke. These technological advancements have improved the efficacy of thrombectomy procedures and reduced procedural complications and recovery time for patients. Furthermore, the growing geriatric population is expected to drive the demand for thrombectomy devices. Individuals become more susceptible to cardiovascular diseases and related complications as they age. The elderly population is at a higher risk of developing blood clots, which can lead to severe health consequences. Consequently, there is a need for effective thrombectomy devices to cater to this demographic and ensure timely and efficient treatment.
US Thrombectomy Devices Market is poised to grow at sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Cardiovascular
Fastest Growth
Cardiovascular
Growth Rate
6.80% CAGR
Global Thrombectomy Devices Market ($ Bn)
Country Share for North America Region (%)
Global Thrombectomy Devices Market By Application($ Bn)
Global Thrombectomy Devices Market By Application(%)
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Global Thrombectomy Devices Market Segmental Analysis
The Global Thrombectomy Devices Market is segmented by type, application, and region. Based on type, the market can be segmented into Aspiration Devices, Mechanical Devices, Ultrasonic Devices and Other Thrombectomy Devices. Based on application, the market is segmented into Cardiovascular, Neurovascular and Peripheral Vascular. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Thrombectomy Devices Market Analysis by Type
Aspiration devices have emerged as the dominant type in the global thrombectomy devices market. These devices work by creating a vacuum effect to directly suction out the blood clot or thrombus from the affected blood vessel. The dominance of aspiration devices can be attributed to their effectiveness in quickly removing blood clots and restoring blood flow. Additionally, they are relatively easy to use and have shown favorable clinical outcomes. The growing adoption of aspiration devices by healthcare professionals for the treatment of acute ischemic stroke and other vascular occlusions has significantly contributed to their dominance in the market.
Mechanical thrombectomy devices have emerged as the fastest-growing type in the global market. These devices typically employ a mechanical mechanism, such as a rotating wire or a retriever, to physically fragment or capture the blood clot for removal. Mechanical devices offer advantages such as precise clot targeting, high clot retrieval rates, and reduced procedure time. The increasing adoption of mechanical thrombectomy devices can be attributed to the growing body of clinical evidence supporting their efficacy, particularly in the treatment of acute ischemic stroke.
Thrombectomy Devices Market Analysis by Application
The cardiovascular application dominated the global market. Cardiovascular thrombectomy devices are designed to remove blood clots in the arteries or veins of the heart, which can lead to conditions such as heart attacks or deep vein thrombosis (DVT)
The neurovascular thrombectomy devices segment is the fastest-growing application, used to treat blood clots in the blood vessels of the brain, have witnessed significant growth and advancements in recent years. These devices are utilized in procedures such as mechanical thrombectomy to treat ischemic strokes caused by blocked blood vessels in the brain.
Global Thrombectomy Devices Market By Application, 2023 (%)
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Global Thrombectomy Devices Market Regional Insights
North America has a well-established healthcare infrastructure and a high prevalence of cardiovascular diseases, leading to a substantial demand for thrombectomy devices. Additionally, North America is home to several prominent medical device manufacturers and research institutions, contributing to developing and adopting advanced thrombectomy technologies. The region's strong market presence can be attributed to factors such as favorable reimbursement policies, increasing awareness about the benefits of thrombectomy procedures, and a growing elderly population prone to vascular diseases.
The fastest-growing region in the global thrombectomy devices market is Asia Pacific. This region has witnessed a remarkable surge in market demand due to several factors. Firstly, countries like China and India have large populations and a rising prevalence of cardiovascular diseases, leading to a higher patient pool requiring thrombectomy procedures. Secondly, improving healthcare infrastructure and growing healthcare expenditure in countries across the region have facilitated the adoption of advanced medical technologies, including thrombectomy devices. Additionally, increasing awareness about the importance of early diagnosis and treatment of cardiovascular diseases has contributed to the market's growth. Moreover, several initiatives by governments and healthcare organizations to improve healthcare access and quality have further propelled the demand for thrombectomy devices in the region.
Global Thrombectomy Devices Market By Region, 2024-2031
- Largest
- Fastest
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Global Thrombectomy Devices Market Dynamics
Thrombectomy Devices Market Drivers
Increasing prevalence of cardiovascular diseases
- The growing occurrence of cardiovascular diseases, including strokes and heart attacks, serves as a significant catalyst for the thrombectomy devices market. As the global population ages and sedentary lifestyles become more prevalent, the prevalence of these conditions steadily increases. Thrombectomy devices play a vital role in the prompt elimination of blood clots and the reinstatement of proper blood flow, ultimately enhancing patient outcomes.
Thrombectomy Devices Market Restraints
Potential complications and risks
- Thrombectomy procedures, similar to any medical intervention, come with inherent risks and the possibility of complications. These risks may encompass vessel injury, bleeding, infection, or the clot becoming dislodged and causing an embolism. Concerns regarding the safety and efficacy of thrombectomy devices have the potential to impact the decisions of healthcare providers and patients, which in turn can influence the growth of the market.
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Global Thrombectomy Devices Market Competitive Landscape
The global thrombectomy devices market is characterized by intense competition, driven by the escalating prevalence of thrombotic disorders and the growing demand for minimally invasive surgical procedures. The market leaders continually invest in research and development initiatives to introduce innovative thrombectomy devices, aiming to enhance patient outcomes. By offering extensive product portfolios and leveraging robust distribution networks, these companies dominate the market. Moreover, strategic collaborations, mergers, and acquisitions are frequently employed strategies to augment market presence and gain a competitive advantage. As the demand for advanced thrombectomy devices continues to surge, the competitive landscape is projected to witness further intensification. Players will prioritize technological advancements and geographical expansion to capture larger market shares, ensuring the provision of cutting-edge solutions to patients worldwide.
Thrombectomy Devices Market Top Player’s Company Profiles
- Medtronic (Ireland)
- Stryker Corporation (US)
- Penumbra Inc. (US)
- Johnson & Johnson (US)
- Terumo Corporation (Japan)
- BTG International Ltd. (acquired by Boston Scientific) (UK)
- Abbott Laboratories (US)
- Teleflex Incorporated (US)
- Phenox GmbH (Germany)
- MicroVention, Inc. (subsidiary of Terumo Corporation) (US)
- Acandis GmbH (Germany)
- Capture Vascular, Inc. (US)
- Penumbra Europe GmbH (Netherlands)
- Merit Medical Systems, Inc. (US)
- Control Medical Technology, LLC(US)
- Teleflex Medical OEM (US)
- Cook Medical (US)
- Phenox Asia Pacific Pte. Ltd. (Singapore)
Thrombectomy Devices Market Recent Developments
- In February 2022, Cernuous, a division of Johnson & Johnson Medical Devices Companies, introduced EMBOGUARD, an advanced balloon guide catheter designed for endovascular procedures, including those for patients with acute ischemic stroke.
- In November, 2021 Penumbra Inc., a global healthcare company specializing in cutting-edge therapies, announced that its Indigo System CA RX Catheter had achieved positive results in the CHEETAH clinical study.
- In October 2021, Phonex made a significant global launch by introducing the pRESET 6-50 mechanical thrombectomy device for the management of acute ischemic stroke. The pRESET 6-50 is renowned as a leading stent retriever specifically designed for mechanical thrombectomy procedures.
Global Thrombectomy Devices Key Market Trends
- The rising prevalence of ischemic stroke has led to an increased demand for advanced medical devices in the market. To meet this demand, prominent companies are dedicating their resources to research and development efforts, aiming to introduce innovative products. While the design and manufacturing of these devices may be complex, industry leaders are committed to investing in cutting-edge technologies to launch sophisticated solutions. One area of focus is the development of aspiration or suction devices, clot retrievers, and aspiration catheters, specifically designed for ischemic stroke treatment. These new devices incorporate advanced technology and offer significant advantages such as enhanced tracking ability, smooth retrieval of clots, user-friendly operation, and other notable features. By leveraging these advancements, healthcare professionals can more effectively address the challenges posed by ischemic stroke, resulting in improved patient outcomes.
Global Thrombectomy Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services 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 global thrombectomy devices market analysis, the market has witnessed substantial growth in recent years and is expected to continue its upward trajectory in the foreseeable future. The market is driven by factors such as the increasing prevalence of cardiovascular diseases, advancements in technology, and the growing geriatric population. These factors contribute to the rising demand for thrombectomy devices across different regions worldwide. Geographically, the market exhibits a strong presence in North America, primarily attributed to the high prevalence of cardiovascular diseases and well-established healthcare infrastructure. However, the Asia Pacific region is experiencing significant growth, fueled by factors such as increasing healthcare expenditure, improving healthcare infrastructure, and rising awareness about advanced treatment options. The emerging economies in this region present immense growth opportunities for market players to expand their market share and tap into the growing demand for thrombectomy devices.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.28 billion |
| Market size value in 2031 | USD 2.31 billion |
| Growth Rate | 6.80% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 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 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 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 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 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 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 Thrombectomy Devices Market Report Snapshots
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