Atherectomy Devices Market- Insights & Growth
Frequent approval of innovative atherectomy devices by major regulatory bodies in key regions is expected to be major driving factor for growth of the atherectomy devices Market.
In 2015, Spectranetics Corporation received FDA approval for Turbo-Power Laser Atherectomy Catheter, which indicated atherectomy device for treatment of in-stent restenosis. In 2017, Avinger, Inc. received Conformité Européenne (CE) marking approval for next generation Pantheris Lumivascular atherectomy system. In 2017, Ra Medical Systems launched DABRA Atherectomy System in Northern Europe. In 2015, Medtronic Plc. launched its HawkOne directional atherectomy system for the treatment of peripheral arterial disease. Multiple approval and then launch of these innovative devices is expected to support the growth of global atherectomy devices Market.
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Furthermore, the market has witnessed multiple mergers and acquisitions is recent years, which has helped leading companies to its atherectomy device portfolio and hence, strengthen position in atherectomy device market. In 2014, Boston Scientific Corporation acquired Bayer AG interventional business. This acquisition includes AngioJet Thrombectomy System, Fetch 2 Aspiration Catheter, and JetStream Atherectomy System. The JetStream Atherectomy System is used to remove plaque and thrombus from diseased arteries. In 2014, Medtronic plc acquired Covidien plc in order to expand portfolio of atherectomy device. After this acquisition, Medtronic plc became the sole owner of leading atherectomy devices such as HawkOne, TurboHawk, and may others.
Key Takeaways of the Atherectomy Devices Market:
The Global Atherectomy Devices Market is expected to exhibit a CAGR of 6.2% over the forecast period (2017 – 2025), owing to frequent approval of innovative products by regulatory bodies in key regions
North America is expected to continue dominance during the forecast period (2017 – 2025), owing to launches of novel atherectomy devices in the region
The market has witnessed multiple product launches and FDA approvals for novel products in recent years and the trend is expected to continue during the forecast period as leading players are continuously involved in R & D to develop products with efficient technology
Key players such as Medtronic plc and Boston Scientific Corporation has focused on inorganic growth model by acquiring competitor or competitor’s business unit related to atherectomy device. As the competition in the market is getting more intense with the entry of increasing number of start-ups in the field, frequency of mergers/acquisitions and collaboration may increase in the near future.
The increasing prevalence of cardiovascular disease around the globe is also expected to increase demand for atherectomy devices, which in turn creates a lucrative environment for market growth in near future
Major players operating in the atherectomy devices market include Medtronic plc, Koninklijke Philips N.V., Cardiovascular Systems, Inc., Boston Scientific Corporation, Avinger, Inc, C. R. Bard, Inc, Cardinal Health, Inc., Minnetronix, Inc., Straub Medical AG, and Biotronik
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