The Mechanical thrombectomy devices Market Size is valued at 1.42 Bn in 2023 and is predicted to reach 2.43 Mn by the year 2031 at a 7.06% CAGR during the forecast period for 2024-2031. Mechanical thrombectomy devices consist of endovascular tools for removing clots from the blood vessels. These devices are available in different sizes and diameters, depending on the affected area. Mechanical thrombectomy is an advanced treatment option for ischemic stroke patients.
Key Industry Insights & Findings from the Report:
- The prevalence of thrombotic illness in the elderly can accelerate market growth, and surgeons' increasing favoritism of image-guided and minimally invasive heart procedures is expanding the market's future growth.
- The increased government spending on healthcare and the advantages of mechanical thrombectomy in cardiac procedures are anticipated to fuel substantial industry expansion in the years ahead.
- North America dominated the market and accounted for a global revenue share in 2023.
- High technology costs and a lack of knowledge about diseases of the peripheral vascular system might slow this industry's growth and raise regulatory concerns.
Multiple factors that drive the growth of the mechanical thrombectomy devices market are the increasing prevalence of stroke and cardiovascular diseases, rising life expectancy, procedural benefits offered by mechanical thrombectomy in cardiac surgeries, growing demand for minimally invasive surgeries, advancements in medical technologies, favorable government reimbursement policies, and the rising government expenditure for healthcare services. Furthermore, the growing FDA approvals are propelling the growth of the market. For instance, in December 2019, Vascular Medcure, Inc. received FDA clearance for its latest CAPERE Thrombectomy System, a mechanical device for treating deep vein thrombosis (DVT). The increasing prevalence of stroke worldwide leads to increased demand for efficient and innovative products, which is expected to drive the mechanical thrombectomy device market during the projected period. However, the strict regulatory policies and the lack of patient awareness about peripheral vascular diseases may restrain the market’s growth.
Competitive Landscape:
Some of the key players operating in the mechanical thrombectomy devices market:
- Boston Scientific Corporation
- Straub Medical AG
- AngioDynamics
- Acandis GmbH
- NIPRO
- Medtronic
- MicroVention, Inc.
- Stryker Corporation
- Phenox GmbH
- Penumbra, Inc.
- Balt Extrusion
- Medrad Inc. (Bayer HealthCare LLC)
- Johnson & Johnson
- Rapid Medical Inc.
- Anaconda Biomed SL
- Imperative Care Inc.
- Vascular Medcure, Inc.
- Others
Market Segmentation:
The mechanical thrombectomy devices market is classified based on the product type, application type, end-user, and region. The product type segment is categorized into coil retriever devices, stent retriever devices, aspiration devices, manual thrombectomy devices, and others (ultrasound-based devices). By application type, the market is divided into the stroke, deep vein thrombosis (DVT), pulmonary embolism (PE), arteriovenous fistula (AVF), peripheral arterial disease (PAD), hemodialysis treatments, percutaneous coronary intervention (PCI), and others. By end-user, the market is grouped into hospitals, ambulatory surgical centers, specialty clinics, and academic & research institutes.
Based On Application Type, The Stent retriever devices Segment Is A Major Contributor To The Mechanical Thrombectomy Devices Market.
Stent retriever devices are projected to hold a significant market share in the coming years due to the surging demand for these devices.
Based On Enduser Type, The Hospitals Segment Is A Major Contributor To The Mechanical Thrombectomy Devices Market.
The hospitals segment is estimated to dominate this market over the forecast years due to the better reimbursement policies for hospital-based interventions and increasing demand for minimally invasive surgical procedures.
In Region, The North America Segment Is A Major Contributor To The Mechanical Thrombectomy Devices Market.
Geographically, the market is studied across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is anticipated to register a maximum share in the global mechanical thrombectomy devices market during the projected period. Factors such as the quick adoption of technically advanced products, increasing cardiac patients, growing demand for minimally invasive surgeries, availability of well-developed healthcare facilities, and rising healthcare expenditure contribute to the high market share.
Mechanical Thrombectomy Devices Market Report Scope:
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 1.42 billion |
|
Revenue Forecast In 2031 |
USD 2.43 billion |
|
Growth rate CAGR |
CAGR of 7.06% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Type, Application, End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Boston Scientific Corporation, Straub Medical AG, AngioDynamics, Acandis GmbH, NIPRO, Medtronic, MicroVention, Inc., Stryker Corporation, Phenox GmbH, Penumbra, Inc., Balt Extrusion, Medrad Inc. (Bayer HealthCare LLC), Johnson & Johnson, Rapid Medical Inc., and Anaconda Biomed SL, Imperative Care Inc., Vascular Medcure, Inc., and Others |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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