Atherectomy Devices Market: Key Insights
Atherectomy is a medical procedure that uses specialized devices to remove fatty deposits or plaque from the walls of blood vessels, thereby enhancing blood flow and reducing the risk of heart attack or stroke. Atherectomy devices treat peripheral artery disease (PAD) and coronary artery disease (CAD).
The global atherectomy devices market is driven by increasing cardiovascular diseases, the growing demand for minimally invasive procedures, and technical progress. The market is also driven by raising awareness about the benefits of atherectomy procedures and the availability of reimbursement policies in developed countries. The shift towards using atherectomy devices in combination with other treatment modalities has further boosted the market's growth. However, the high cost of atherectomy devices and the need for more trained professionals in developing countries pose challenges to the development of the market. Despite these challenges, the global atherectomy devices market is anticipated to grow significantly in the coming years.
Rising Demand for Minimally Invasive Surgical Procedures to Drive Atherectomy Devices Market
The demand for minimally invasive surgical procedures has been rising recently, driven by improved patient outcomes, faster recovery times, and lower costs than traditional open surgeries. Atherectomy is a minimally invasive procedure used to remove plaque from the inner walls of blood vessels, most commonly in the legs, arms, or heart. This procedure is frequently performed using atherectomy devices, which have seen increased adoption due to their ability to remove plaque and improve blood flow effectively. As a result, the global atherectomy devices market is expected to grow significantly in the coming years. The growth of this market is driven by factors such as an aging population, the increasing prevalence of cardiovascular diseases, and a growing demand for minimally invasive procedures.
Atherectomy Devices Market: Segmental Overview
The global atherectomy devices market is segmented on the basis of product, application, and end user. Based on product, the market is segmented as rotational atherectomy systems, directional atherectomy systems, orbital atherectomy systems, photo-ablative (laser) atherectomy systems, and support devices. On the basis of the application, the market is bifurcated into cardiovascular, peripheral vascular and neurovascular. The market, on the basis of the end user, is classified as hospitals, ambulatory surgical centers, and others.
Based on end user, the hospitals segment held a substantial share in the market. Hospitals play a critical role in the growth of the atherectomy devices market. The demand for minimally invasive procedures to treat cardiovascular diseases has led to increased adoption of atherectomy devices in hospitals. These institutions are investing in advanced technology to give the best possible care to their patients and stay ahead of their competitors. The prevalence of cardiovascular diseases is also rising, driving the demand for atherectomy procedures and the corresponding purchase of atherectomy devices by hospitals. The increased focus on healthcare has resulted in increased funding from governments and private organizations for healthcare infrastructure, including the purchase of atherectomy devices. Hospitals are also collaborating with device manufacturers to improve their offerings and provide better care to patients. All these factors combined contribute to the growth of the atherectomy devices market in hospitals.
Atherectomy Devices Market: Competitive Landscape and Key Developments
B. Braun Melsungen AG; Koninklijke Philips N.V; Boston Scientific Corporation; Medtronic; TERUMO CORPORATION; BD (C. R. Bard, Inc); Minnetronix, Inc; Avinger; AngioDynamics, Inc, and RA Medical Systems Inc are among the key players operating in the atherectomy devices market. These companies have a widespread presence worldwide, which provides lucrative opportunities to serve a large number of customers and expand the market.
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