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(Health-NewsWire.Net, July 16, 2020 ) According to research report thrombectomy devices market is estimated to reach USD 1.45 billion by 2022; growing at a CAGR of 6.7% during the forecast period. This large market share is mainly attributed to factors such as increasing prevalence of cardiovascular diseases across major markets, higher prevalence of thrombotic diseases among geriatric individuals, procedural benefits offered by mechanical thrombectomy in cardiac surgeries and growing preference of surgeons for image-guided and minimally invasive cardiac surgeries.
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• On the basis of application, the thrombectomy devices market is segmented into cardiovascular, neurovascular, and peripheral vascular applications. Peripheral vascular segment is expected to be the fastest growing in the market during the forecast period. This growth can be attributed to the rising availability of medical reimbursements for peripheral thrombectomy procedures across major markets, rising incidence of vascular disorders across the globe, growing geriatric population, ongoing technological advancements in the field of vascular ultrasound treatment, and rising awareness related to clinical efficacy of thrombectomy procedures in PVD treatment.
• Based on type, the thrombectomy devices market is segmented into aspiration, mechanical, rheolytic, and ultrasonic thrombectomy devices. The ultrasonic thrombectomy devices segment is poised to be the fastest growing during the forecast period. The growing demand for ultrasonic thrombectomy devices can primarily be attributed to factors such as rising adoption of ultrasonic thrombectomy products by medical professionals, higher therapeutic efficacy for the treatment of deep vein thrombosis and pulmonary embolism, and its affordability.
The key players focused on various strategies such as product launches and enhancements; agreements and collaborations; strategic acquisitions; and expansions to increase their shares in the global thrombectomy devices market. Product launches & enhancements is the strategy adopted by major industry players to achieve the desired market growth during 2013-2017.
This strategy was adopted by Stryker Corporation (U.S.), Medtronic plc (Ireland), Boston Scientific Corporation (U.S.), Johnson & Johnson (U.S.), Terumo Corporation (Japan), Penumbra, Inc. (U.S.), Spectranetics Corporation (U.S.), Edwards Lifesciences Corporation (U.S.), Argon Medical Devices, Inc. (U.S.), and Teleflex Incorporated (U.S.).
Apart from product launches and enhancements, many prominent players also adopted agreements and collaborations as their key growth strategy to strengthen their market presence, enhance their R&D capabilities, and to expand their distribution networks to generate additional demand by sensitizing end users through an increase in availability of thrombectomy devices.
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North America accounted for the largest share of the thrombectomy devices market in 2017, while Asia-Pacific is projected to register the highest CAGR during the forecast period.
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