Kenneth Research, in its repository of market research reports, has recently added a report on Atherectomy Devices Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Atherectomy Devices Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
The U.S. Market recovers fast; In a release on May 4th, 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Atherectomy Devices Market products.
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” The global atherectomy devices market is estimated to be valued at ~USD 1.3 billion by the end of 2021 and is expected to grow at a compound annual growth rate of 7.0% during the forecast period 2022-2030. The increasing prevalence of target diseases is the main driving force of the market. More than 250 million people worldwide suffer from peripheral arterial disease (PAD), among which the elderly population has a high prevalence.
The prevalence of PAD increased by 24% between 2000 and 2010 and continues to increase at an exponential rate. Both high-income and low-income countries have this epidemic. In the past decade, low-income countries have grown by 29%, while high-income countries have grown by 13%. The demand for minimally invasive surgery/surgery (MIS) is on the rise. Compared with invasive surgeries, these surgeries cause less trauma to the patient and faster recovery. Another reason for this change is that infections may occur during invasive surgery. Rotectomy is a minimally invasive surgery, so the increasing demand for minimally invasive surgery during the forecast period will become an important factor in the market.
Orientation, rotation, orbital and rotational laser atherectomy devices are the key segment types analyzed in this study. Due to an early start and high market penetration, directional plaque resection equipment will dominate the market in 2018. In addition, it also has the advantages of the availability of various sizes and the ability to reduce plates. Several clinical trials demonstrating the effectiveness of the device have also helped to meet high demand.
Trials such as DEFINITIVE LE (to determine the efficacy of the SilverHawk peripheral plaque resection system for the treatment of blood vessels in the lower extremities/inguinal) and EASE (safety and effectiveness of endovascular atherectomy) have shown a success rate of more than 90%, ensuring the effectiveness of the treatment . The device in question. Rotary atherectomy equipment also occupies a considerable market share.
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Almost 96% of cases do not require clinical assistance until 9 months after surgery. This is expected to bring advantages to rotating equipment and increase its market share in the next 8 years. The repayment situation is also conducive to plaque removal to promote its growth. In November 2018, the Medical Insurance and Medicaid Service Center released the 2019 reimbursement plan.
North America has a dominant market share in 2020. Appropriate reimbursement programs and a large number of FDA-approved devices are the key reasons for this dominance. For example, in April 2019, Avinger, Inc. received 510 (k) clearance from the FDA for use in the Pantheris SV (small vessel) image-guided plaque resection system.
The product line expansion of its Lumivascular image-guided plaque resection platform is expected to increase by 50% in the Pantheris market, increasing its share of the global plaque resection equipment market. Since 2006, the rate of bypass surgery has fallen by 43%, while the rate of endovascular surgery has doubled. This is also reflected in the amputation rate, which has dropped by nearly 28% in recent years.
MARKET INISGHTS INTO PLAQUE REACTION DEVICES :
The healthcare industry is witnessing dynamic activity of new product approvals and increasing commercialization across multiple geographic locations. For example, in January 2017, Medtronic HawkOne directional atherectomy system received CE mark approval.
The new HawkOne 6 French (6F) system for the treatment of PAD patients provides easy-to-use treatment options through a single device. Some major industry contributors are Boston Scientific, Cardiovascular Systems, Covidien, Spectranetics, VOLCANO CORPORATION, Avinger Inc., Koninklijke Philips NV, Straub Medical AG, ST. JUDE MEDICAL, BARD Peripheral Vascular, Cardinal Health (Cordis) and Terumo IS.
MARKET SEGMENTS COVERED BY THE REPORT:
This report forecasts revenue growth and analyzes the latest trends in each sub-segment from 2022-2030. In this study, Kenneth Research has segmented the global atherosclerosis device market based on type and region. : Prospect type (revenue, millions of dollars; 2022-2030) directional atherectomy Rotary atherectomy Intraorbital atherectomy Laser atherectomy. ”
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