Global Atherectomy Devices Market - 2022-2029

Market Overview

Global Atherectomy Devices market is expected to grow at a high CAGR of 6.3% during the forecast period (2021-2028).

Atherectomy is a minimally invasive endovascular procedure generally performed to remove atherosclerosis from blood vessels in the body. It is generally used to treat arteries. It can be used in veins and vascular bypass grafts as well. 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.

Market Dynamics

The global atherectomy devices market growth is driven by the growing target patient population, continuous product development & commercialization, favorable medical reimbursements, rising demand for minimally invasive atherectomy procedures, and strengthening distribution channels of major products manufacturers.

The rising preference for minimally invasive surgeries drives the market growth

The market for atherectomy devices is majorly driven by the rising preference for minimally invasive surgeries. In minimally invasive surgery, doctors use a variety of methods to operate with minimal damage to the body, as opposed to the traditional open surgery method. Generally, minimally invasive surgery is associated with less pain, a shorter hospital stay, and fewer complications. Atherectomy is a minimally invasive procedure generally used to treat arteries. The demand for this surgery is increasing at a very high rate due to several factors that include less pain, shorter hospital stay, less scarring, less tissue injury, and a higher accuracy rate. Additionally, other factors such as continuous product development and commercialization, favorable medical reimbursement scenarios in mature markets, and strengthening distribution channels of major product manufacturers are expected to aid the growth of the atherectomy devices market.

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. Also, 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 an FDA-cleared extended length Diamondback 360 Peripheral Orbital Atherectomy Device (OAD) to treat peripheral artery disease (PAD) in February 2018.

The shortage of healthcare professionals will hamper the growth of the market

The shortage of healthcare professionals is more acute in rural regions where most of the healthcare centers are owned by the state. Government schemes are funding heavily to improve the status of health in rural regions. As surgical specialists are one of the primary users of minimally invasive devices, many countries are facing a shortage of talented healthcare professionals. Due to this shortage, patients have to (reluctantly) undergo conventional procedures. These factors are limiting the scope of this market. Hospitals with high patient enrollments are also facing this issue. Despite possessing purchasing power, these hospitals cannot install such devices. In many countries, the rural population forms a significant part of the total population.

COVID-19 Impact Analysis

The market has been impacted by the COVID-19 pandemic. Various cardiovascular procedures and non-essential treatments were postponed. Additionally, non-COVID-19-related research was postponed by various companies, which lead to delayed product launches. Some disruptions in sourcing raw materials from impacted countries, such as China, were also observed but such disruptions are unlikely to have a significant impact going forward. However, as earlier restrictions have now eased in several countries, the market growth may also resume.​

Segment Analysis

The directional atherectomy segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The directional atherectomy segment of the market is expected to witness significant growth in the forecast period as it offers certain advantages such as low treatment cost, and improved efficiency. The increasing adoption of minimally invasive atherectomy procedures may boost the demand for atherectomy devices.

Plaque removal by directional atherectomy may produce an angiographic result that is superior to that obtainable by percutaneous transluminal coronary angioplasty, particularly for lesions that are eccentric, ostial, restenotic or associated with intraluminal thrombus.

The strategic initiatives taken by the key market players such as product launches, mergers and acquisitions, and partnerships are also expected to contribute to the market growth. For instance, in August 2021, Medtronic submitted an application to the United States Food and Drug Administration for the approval of the TurboHawk Plus Directional Atherectomy System, an updated version of its older and largely phased out atherectomy device. This device will facilitate the increase of atherectomy procedures during Peripheral arterial disease (PAD) interventions.

Various clinical trials to prove the efficacy of the device also contributes to the high demand. Trials such as DEFINITIVE LE (determination of the effectiveness of the SilverHawk peripheral plaque excision system for infrainguinal vessels/lower extremities treatment) and EASE (Endovascular Atherectomy Safety and Effectiveness) displayed a success rate of more than 90%, assuring the effectiveness of the concerned devices. Such factors, along with the global presence of medical devices across developed and emerging markets, drive the demand for directional atherectomy devices.

Geographical Analysis

North America region holds the largest market share of the global atherectomy devices market

The North American region is expected to dominate the atherectomy devices market. Factors such as increasing availability of reimbursements for atherectomy systems, adoption of atherectomy systems among medical professionals, the large patient population of peripheral and coronary artery diseases, and an increasing number of clinical trials (that aim to evaluate the therapeutic efficacy of atherectomy systems in specific disease treatment) are driving the growth of the North American atherectomy devices market. As per the American Heart Association, cardiovascular diseases is the leading global cause of death and accounted for approximately 18.6 million deaths in 2019 in the United States. This creates a burden on the healthcare system of the country. Thus, the demand for the atherectomy devices market is expected to increase during the study period.

For instance, according to World Ageing Report 2019, there were about 53.340 million (16.2%) people aged 65 or older in the United States. This number is projected to reach 70.842 million (20.3%) in 2030. The elderly population is expected to increase in the near future, and this population is more prone to chronic conditions like cardiovascular diseases, which is likely to impact the market positively.

Competitive Landscape

The atherectomy devices market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Abbott Laboratories, B. Braun Melsungen AG, Boston Scientific Corporation, C.R. Bard (Becton, Dickinson, and Company), Cardinal Health Inc., Koninklijke Philips NV, Medtronic, RA Medical Systems, Straub Medical, Terumo Corporation, Cardiovascular Systems Inc., Minnetronix Inc., Avinger Inc., Biomerics LLC, AngioDynamics Inc., among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Atherectomy Devices Market globally. For instance, in November 2021, Royal Philips launched peripheral and coronary artery applications, including the Nexcimer laser system in the North American region. Nexcimer laser system is available for peripheral and coronary atherectomy and lead extraction procedures.

Abbott Laboratories

Overview:

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments, established pharmaceutical products, nutritional products, diagnostic products, and medical devices.

Product Portfolio:

Emboshield NAV6 Embolic Protection System: The Emboshield NAV6 EPS is indicated for use as a guidewire and embolic protection system to contain and remove embolic material (thrombus/debris) while performing angioplasty and stenting procedures in carotid arteries and while performing atherectomy, during standalone procedures or together with PTA and/or stenting, in lower extremity arteries. The diameter of the artery at the site of the Filtration Element placement should be between 2.5 and 7.0 mm.

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Target Audience

Service Providers/ Buyers

Industry Investors/Investment Bankers

Education & Research Institutes

Research Professionals

Emerging Companies

Manufacturers

Market Segmentation

Global Atherectomy Devices Market - By Product

Directional Atherectomy Systems

Orbital Atherectomy Systems

Photo-Ablative (Laser) Atherectomy Systems

Rotational Atherectomy Systems

Global Atherectomy Devices Market - By Application

Peripheral

Cardiovascular

Neurovascular

Global Atherectomy Devices Market - By End User

Hospitals

Surgical Centers

ASCs

Research Laboratories

Academic Institutes

Global Atherectomy Devices Market - By Region

North America

Europe

Asia-Pacific

Middle East & Africa

South America