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(Health-NewsWire.Net, April 09, 2020 ) Market Overview
Global Atherectomy Devices market is expected to grow at a CAGR of 6.3 % during the forecast period (2019-2026).
Atherectomy is a method used to remove plaque from the blood vessels. Atherectomy is also known as the Roto-rooter procedure as it cleans out the drainage pipes of the body. This procedure is performed in an outpatient setting, generally in the catheterization by a trained vascular surgeon or interventional radiologist.
Atherectomy carries the same minimal risks as other minimally invasive procedures. However, it is the only technique that removes plaque from the vessel. Various studies have shown no major difference in patient outcomes when atherectomy and angioplasty are compared. Atherectomies are useful at removing highly calcified plaques, which are too hardened to be crushed into the wall with either the angioplasty balloons or stenting devices.
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Market Drivers:
The rising prevalence of peripheral cardiovascular diseases is a key driving factor of the global atherectomy devices market.
For instance, According to World Health Organization (WHO) around 17.7 million people died from cardiovascular diseases in 2015, which is around 31% of deaths worldwide, which account 7.4 million death due to coronary heart disease and 6.7 million were due to stroke.
According to the Centers for Disease Control and Prevention in 2017, Coronary heart disease (CHD) have caused around 370,000 deaths in the U.S. annually. According Heart Foundation cardiovascular diseases affect 4.2 million Australians in 2015.
The peripheral artery disease is a circulatory condition described by the contraction of the peripheral arteries ensuing in limited blood supply to the stomach, legs, arms, and head. This disease is similar to coronary artery disease in its prevalence worldwide. Increased smoking, hypertension, high cholesterol levels, and diabetes are major risk factors for the disease. Genetics and co-morbidities can also cause this disease. The American Heart Association estimated that about 200 million people worldwide have peripheral artery disease in 2015. Individuals with peripheral artery disease are 4-5 fold more likely to have a heart attack or stroke.
Market Segmentation
The global atherectomy devices market is segmented based on device which includes directional atherectomy devices, laser atherectomy devices, rotational atherectomy devices, and orbital atherectomy devices. Orbital atherectomy devices show significant growth due to the increase in product launch.
For instance, In September 2018, Cardiovascular Systems, Inc., a medical device company, have introduced Stealth 360 Peripheral Orbital Atherectomy System (OAS) in Hong Kong. Moreover, the company also have received FDA-cleared extended length Diamondback 360 Peripheral Orbital Atherectomy Device (OAD) to treat peripheral artery disease (PAD) in February 2018.
The strategic competitiveness between companies is driving the global atherectomy devices market.
For instance, in July 2018, Cardiovascular Systems, Inc. has signed an exclusive international distribution agreement with OrbusNeich to sell its coronary and peripheral Orbital Atherectomy Systems (OAS) outside the United States and Japan.
Geographical Analysis
North America holds the major market share for atherectomy devices in 2017, and it is expected to maintain the growth over the forecast period owing to the increasing prevalence for cardiovascular diseases in the U.S.
For instance, approximately 84 million people in the U.S suffer from some form of cardiovascular disease, causing about 2,200 deaths a day, averaging one death every 40 seconds. Almost one out of every three deaths results from cardiovascular disease in U.S. An estimated 15 million U.S. adults have coronary heart disease.
Moreover, the regulatory approval for atherectomy devices in the U.S is driving the North America atherectomy devices market.
For instance, in May 2018, The US Food and Drug Administration (FDA) has cleared the Pantheris Lumivascular atherectomy system, for the treatment of peripheral artery disease (PAD). It is the first-of-its-kind, an image-guided atherectomy device is manufactured by Avinger, Inc.
Further, in October 2018, Eximo Medical has received U.S. FDA clearance for its B-Laser atherectomy system for peripheral artery disease (PAD). The system uses 355 nm laser technology to address unmet clinical needs for treating multiple vascular indications. Also, in October 2016, Avinger has received expanded indications from the US Food and Drug Administration (FDA) recognizing the Pantheris lumivascular atherectomy system as a technology that can be used for both therapeutic and diagnostic purposes.
Competitive Landscape
The increasing product launch is driving the Global Atherectomy Devices market.
For instance, in November 2018, Cardiovascular Systems, Inc., introduced Stealth 360 Peripheral Orbital Atherectomy System (OAS) in Germany. The German cases represent the first commercial use of Peripheral OAS in Europe.
Growing collaboration among leading players is also driving the market growth and fueling the market competition.
For instance, in July 2018, Cardiovascular Systems, Inc. signed an agreement with Aerolase Corp. to co-develop a new laser atherectomy device for physicians to use in more effectively treating multiple forms of the arterial disease.
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