IMARC Group's report titled "Thrombectomy Devices Market Report by Product Type (Aspiration Thrombectomy Devices, Mechanical Thrombectomy Devices, Ultrasonic Thrombectomy Devices, and Others), Application (Cardiovascular, Neurovascular, Peripheral Vascular), End User (Hospitals and Clinics, Ambulatory Surgical Centers, and Others), and Region 2024-2032". The global thrombectomy devices market size reached US$ 1.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4.7% during 2024-2032.
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Factors Affecting the Growth of the Thrombectomy Devices Industry:
- Increasing Incidence of Stroke:
With a rising number of stroke cases worldwide, there is a growing demand for effective treatments to mitigate the effects of stroke and improve patient outcomes. Thrombectomy devices play a crucial role in the treatment of acute ischemic stroke by removing blood clots from blocked arteries, thereby restoring blood flow to the brain and reducing the risk of disability and mortality. Moreover, the shift in the treatment paradigm for acute ischemic stroke towards endovascular therapy, which includes thrombectomy procedures, is driven by clinical evidence demonstrating the efficacy of thrombectomy in improving outcomes for stroke patients, particularly those with large vessel occlusions.
- Technological Advancements:
Innovations in engineering and materials science are leading to the development of thrombectomy devices with enhanced design features. These devices are more flexible, navigable, and capable of reaching occluded vessels more effectively, thereby improving procedural success rates and patient outcomes. Furthermore, technological advancements are introducing new retrieval mechanisms, such as stent retrievers and aspiration catheters, which are more efficient in removing blood clots from blocked arteries. These devices offer better clot engagement, thrombus aspiration, and clot retrieval capabilities, leading to improved revascularization outcomes.
- Rising Healthcare Expenditure:
Increasing healthcare spending allows healthcare systems to invest in advanced medical technologies, including thrombectomy devices. Healthcare providers are more likely to adopt innovative treatments and procedures, such as thrombectomy, when there is sufficient financial support available. In addition, high healthcare expenditure enables greater investment in research and development (R&D) activities focused on improving existing thrombectomy devices and developing new technologies. Funding for R&D initiatives facilitates innovations in device design, materials, and technologies, leading to the introduction of more effective and efficient thrombectomy devices to the market.
Leading Companies Operating in the Global Thrombectomy Devices Industry:
- Argon Medical Devices Inc.
- Boston Scientific Corporation
- Edwards Lifesciences Corporation
- Johnson & Johnson
- Medtronic Plc
- Penumbra Inc.
- Spectranetics Corporation (Koninklijke Philips N.V.)
- Stryker Corporation
- Teleflex Incorporated
- Terumo Corporation
Thrombectomy Devices Market Report Segmentation:
By Product Type:
- Aspiration Thrombectomy Devices
- Mechanical Thrombectomy Devices
- Ultrasonic Thrombectomy Devices
- Others
Mechanical thrombectomy devices represent the largest segment due to their effectiveness and versatility in treating various types of vascular occlusions.
By Application:
- Cardiovascular
- Neurovascular
- Peripheral Vascular
Neurovascular accounts for the majority of the market share owing to the heightened awareness among healthcare professionals and patients about the benefits of timely intervention for stroke management.
By End User:
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Others
Hospitals and clinics hold the biggest market share as they serve as primary centers for medical emergencies.
Regional Insights:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
North America enjoys the leading position in the thrombectomy devices market on account of advanced healthcare infrastructure and a robust reimbursement framework.
Global Thrombectomy Devices Market Trends:
The development of smart and connected thrombectomy devices equipped with sensors, data analytics, and connectivity features enables continuous monitoring of device performance, patient physiology, and procedural outcomes. These devices facilitate personalized treatment approaches, optimization of procedural techniques, and quality improvement initiatives in thrombectomy practice.
Additionally, emerging technologies like wireless and remote-controlled thrombectomy devices offer greater flexibility and ease of use for healthcare providers. These devices allow for remote operation, precise control, and real-time monitoring during thrombectomy procedures, enhancing procedural efficiency and patient safety.
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