Thrombectomy Devices Market

The global Thrombectomy Devices Market is valued at USD 1.3 Billion in 2022 and is projected to reach a value of USD 2.2 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 7% between 2023 and 2030.

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A Thrombectomy Devices consists of an intracoronary catheter with a central aspiration channel that is used to evacuate the thrombus. It is employed in the treatment of blood clots in the veins, capillaries, and arteries. Surgical thrombectomy is a procedure used to remove a blood clot that has formed in an artery or vein and is impeding blood flow. Thrombectomy Devicess are intended to minimize blood vessel injury and blood loss during surgical procedures. These devices are used to treat disorders such as acute myocardial infarction, peripheral artery disease, deep vein thrombosis, pulmonary embolism, and neurovascular thrombosis. They are currently readily accessible in a variety of sizes and diameters, depending on the affected area. Balloon embolectomy, surgical embolectomy, and aspiration embolectomy are three of the most common Thrombectomy Devices methods.

• Acute myocardial infarction (AMI), deep vein thrombosis (DVT), peripheral artery disease (PAD), and pulmonary embolism (PE) are becoming more common, which is leading Thrombectomy Devices.
• The transportation segment will continue to assert its dominance by application, capturing the largest market share globally throughout the forecast period 2023 to 2030.
• In 2022, North America dominated the Thrombectomy Devices market, achieving the highest revenue share of 40.60%.
• The Asia Pacific region will have the highest CAGR between 2023 and 2030.

Top Market Trends

1. Rising reimbursement for Thrombectomy Devices, rising public-private product development and commercialization expenditures, and increased patient preference for less intrusive therapeutic techniques are some of the reasons driving market expansion. Furthermore, current product developments by major vendors, as well as key market players' growing their operations in emerging countries through the establishment of manufacturing facilities, research and development facilities, and distribution networks, are expected to drive the Thrombectomy Devices market forward.
2. Mechanical thrombectomy is a rapid and efficient treatment for severe medical problems resulting from blood clots in the arteries, such as DVT and ischemic stroke. According to research, people who have mechanical thrombectomy recover faster and have a better standard of life than those who have other surgeries, such as clot-busting tPAs (tissue plasminogen activators). These supportive measures have helped to boost market growth and attract investment in the Thrombectomy Devices industry.
3. Peripheral or vascular Thrombectomy Devices will see profitable growth as the prevalence of peripheral artery problems rises due to increased intake of unhealthy foods and smoking.
4. Multiple companies and market participants have made acquisitions, which is accelerating market growth. Surmodics, a major producer of in vitro diagnostic technology and medical devices, announced the acquisition of privately held Vetex Medical Limited in July 2022. These partnerships are helping to accelerate the growth of the Thrombectomy Devices market and drive innovation.
5. Over the projected period, the worldwide Thrombectomy Devices market will rise due to increased product approval by regulatory bodies such as China's National Medical Product Administration. Rapid Medical, an Israeli manufacturer of neurovascular devices, stated on August 31, 2023, that their Tigertriever revascularization device had won approval from China's National Medical Product Administration, expanding market reach, further driving growth in the Thrombectomy Devices market.
6. Thrombectomy Devices market is the increasing prevalence of cardiovascular diseases (CVDs). As the world's population ages, the need for Thrombectomy Devices to treat these disorders is expected to skyrocket. This component contributes to market growth and development.

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Thrombectomy Devices Market Economic Insights

Financial crises can put a strain on healthcare finances, resulting in lower investments in cutting-edge medical technologies such as Thrombectomy Devices equipment. Financial constraints may limit hospitals' and healthcare facilities' abilities to acquire and maintain this costly technology. Furthermore, due to financial worries, patients may postpone or skip medical operations, limiting the need for Thrombectomy Devices therapies. Furthermore, payment policies and healthcare coverage constraints that are impacted by economic variables can limit patients' access to Thrombectomy Devices operations. Economic constraints can also have an impact on funding for research and development of new and improved Thrombectomy Devices, thereby impeding market innovation. All of these factors can stifle market growth and adoption of Thrombectomy Devices.

Market Segmentation

Thrombectomy Devices The global Thrombectomy Devices market can be categorized into Type, Application, End User, Region. The Thrombectomy Devices market can be categorized into Mechanical/ Fragmentation Thrombectomy Devices, Stent Retrievers, Basket/ Brush Retrivever, Coil Retrievers, Aspiration Thrombectomy Devices, Rheolic/ Hydrodynamic Thrombectomy Devices, Ultrasonic Thrombectomy Devices based on Type. The Thrombectomy Devices market can be categorized into Cardiovascular Application, Peripheral Vascular Application, Neurovascular Application based on Application. The Thrombectomy Devices market can be categorized into Hospitals & Surgical Centers, Ambulatory Surgical Centers, Research Laboratories & Academic Institutes, Other End Users based on End User. The Thrombectomy Devices market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Based on Type

Mechanical/Fragmentation Thrombectomy Devices to Lead Maximum Market Share Due to the Use in Cardiologyand Neurovascular Treatments

In 2022, the Mechanical/Fragmentation Thrombectomy Devices segment was poised to dominate the global market for Thrombectomy Devices. Mechanical thrombectomy is a revolutionary stroke treatment technique that removes clotting blood from the brain's major blood vessels. Individuals who have experienced an acute stroke that was caused by a major artery occlusion in the brain's anterior circulation are encouraged to undergo the procedure. Growing acceptance of the method is projected to bode well for the worldwide mechanical thrombectomy market in the near future. When combined with tPA and other medical treatments, mechanical thrombectomy effectively lowers stroke-related impairments in patients. Also, demand for mechanical Thrombectomy Devices is likely to increase due to an increase in demand for surgeries that are minimally invasive and advantageous reimbursement policies for cardiology and neurovascular treatments.

Based on Application

The cardiovascular Application segment Expects Dominion, Owing to the Growing Demand for Timely Clot Removal, to be critical For Excellent Patient Outcomes.

In 2022, the Cardiovascular Application segment will dominate the Thrombectomy Devices market. Cardiovascular diseases, often known as CVDs, are a collection of illnesses that affect the normal functioning of blood arteries and the heart. These occur as a result of lifestyle changes such as bad dietary choices, sedentary lives, and cigarette addiction. Several illnesses, such as stroke, heart failure, and coronary artery disease, have become more common in recent years. Cardiovascular applications account for a sizable portion of the thrombectomy device market. These applications typically focus on eliminating thrombi or clots from the blood arteries of the heart and surrounding structures. The cardiovascular category, which includes a variety of diseases and therapies, accounts for the majority of the market share for Thrombectomy Devices. Acute myocardial infarction and deep vein thrombosis continue to be important global health concerns. These disorders are frequent, which increases the demand for Thrombectomy Devices because timely clot removal is critical for excellent patient outcomes.

Based on End Use

The Hospitals and Surgical Centers segment Expects Dominion, Owing to the increased incidence of strokes.

In 2022, the Hospitals and Surgical Centerssegment will dominate the Thrombectomy Devices market. Patients prefer hospitals to emergency clinics because they provide better medical care and have access to cutting-edge equipment. The prevalence of acute ischemia-related disorders is likely to rise, as is consumer knowledge of neurothrombectomy devices. Stroke is the leading cause of disability and mortality in the United States and Europe. Reperfusion therapy with nеurothrombectomy devices/equipment is the principal way of treating acute ischemia. Thus, the increased incidence of strokes in the older population is driving sector expansion. This factor is fueling the segment's expansion.

Based on Region

North America To Dominate Global Sales Owing to Rising Burden Of Cardiac Patients

In 2022, the North American region emerged as the dominant player in the Thrombectomy Devices market. The United States is likely to continue to contribute the most income to the North American market. The rising burden of cardiac patients, technological advancements in devices to produce better clinical results, and increased demand for less invasive alternatives are driving the Thrombectomy Devices market in the United States. The increasing burden of cardiac patients, technical improvements in devices to provide better clinical outcomes, and increasing demand for minimally invasive products are driving the Thrombectomy Devices market in North America. Rising cases of cardiac patients suffering from heart attacks and cardiac arrest are increasing in the North American region, which is primarily related to their lifestyles and nutrition patterns. This is another reason for the region's increasing burden of cardiac patients. For example, the CDC reported 805,000 heart attacks in the United States in 2022. Six hundred five thousand of them are first-time heart attacks, while 200,000 are repeat heart attacks. For example, according to a 2022 article published in the National Library of Medicine, approximately 610,000 people die each year in the United States from heart disease. As a result, the region's high prevalence of heart illnesses drives the Thrombectomy Devices market.

The Thrombectomy Devices industry in Asia Pacific is rapidly growing in popularity. India and China, for example, are expected to become the new revenue-generating areas for significant industry participants. The presence of a large patient population for target diseases, rising healthcare expenditure, increasing awareness among surgeons about the benefits offered by Thrombectomy Devices, and growing adoption of such devices due to their declining costs are all factors contributing to the market's growth in Asia Pacific.

Competitive Landscape

The global Thrombectomy Devices market is highly competitive, with various key players operating in the industry. Some of the major companies in the market include Terumo Corporation, Boston Scientific Group, Abbott Laboratories, Koninklijke Philips N.V., Medtronic plc, Stryker Corporation, AngioDynamics, Inc, Teleflex Incorporated, Johnson and Johnson, Penumbra Inc. These businesses are concentrating their efforts on research and development in order to create new and sustainable products. Additionally, strategic alliances, mergers, and acquisitions are common in the industry as organizations seek to extend their product offerings and market presence.

The key players in the global Thrombectomy Devices market include - Terumo Corporation, Boston Scientific Group (U.S.), Abbott Laboratories (U.S.), Medtronic PLC (Ireland), Johnson and Johnson (U.S.), Koninklijke Philips N.V. (Netherlands), Stryker Corporation (U.S.), AngioDynamics Inc. (U.S.), Teleflex Inc. (U.S.), Penumbra Inc. (U.S.) among others.

Recent Market Developments

• In February 2022, Cernuous, a subsidiary of Johnson & Johnson Medical Devices Companies, introduced EMBOGUARD, a next-generation balloon guide catheter for use in endovascular operations, particularly those for patients suffering from acute ischemic stroke.
• In January 2023, Lightning FlashTM has been approved and launched by Penumbra, Inc., a global healthcare organization. It is the market's latest and most powerful mechanical thrombectomy system. Lightning Flash uses Penumbra's ground-breaking Lightning Intelligent Aspiration technology, which contains two clot-detecting algorithms at the moment. Lightning Flash, in conjunction with revolutionary catheter technology, is designed to quickly remove big blood clots throughout the body, such as venous thrombus and pulmonary embolism (PE).
• In February 2022, Imperative Care, Inc. introduced the Company's ischemic stroke product line, which includes a Zoom 88 Large Distal Platforms for neurovascular access, four Zoom Aspiration Catheters in varied sizes, and the Zoom Pump with accessories.

Segmentation of the Global Thrombectomy Devices Market