Thrombectomy Devices Market to Reach US$ 2,101.29 Mn at a CAGR of 5.9% in 2027 | The Insight Partners

report image

Thrombectomy Devices Market to 2027 - Global Analysis and Forecasts by Type (Mechanical Thrombectomy Devices, Aspiration Thrombectomy, Devices, Rheolytic Thrombectomy Devices and Ultrasonic Thrombectomy), Application (Cardiovascular, Peripheral Vascular, Neurovascular), End User (Academic & Research Institutes, Hospitals & Clinics, Ambulatory Surgical Center) and Geography

Publication Month: Oct 2019 | Report Code: TIPHE100001313 | No. of Pages: 154 | Category: Medical Device | Status: Published

The Thrombectomy Devices in healthcare market was valued at US$ 1,282.07 million in 2018 and it is projected to reach US$ 2,101.29 million by 2027; it is expected to grow at a CAGR of 5.9% from 2019 to 2027.

Surgical thrombectomy is a surgery performed for the removal of a blood clot from an artery or vein. The surgery is performed when the blood coagulates and clusters to form a blood clot in the blood vessels. In operation, an incision is made using thrombectomy devices in a blood vessel. The clot is eliminated, and the blood vessel is fixed; it repairs blood flow. Mechanical thrombectomy devices are most widely used for thrombectomy procedures as compared to the other methods. The growth of the Thrombectomy Devices in healthcare market is attributed to the growth of market are elevating incidences of CVDs and neurological diseases, technological advancements, government initiatives towards prevention of diseases and favorable medical reimbursement scenario. However, the growth of market is likely to experience restraining factors such as limited patient awareness related to thrombectomy and lack of trained healthcare professionals.

The Thrombectomy Devices in healthcare market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.

Lucrative Regions for Thrombectomy Devices in Healthcare Market

Lucrative Regions for Thrombectomy Devices in Healthcare Market

Get more information on this report :

Market Insights

Growing Applications of Thrombectomy Devices in Healthcare to Drive Thrombectomy Devices in Healthcare Market Growth

Neurological diseases are disorders of brain, spine, and the nerves connecting the earlier two as well as supplying oxygenated blood. The neurovascular systems are highly dependent on the continuous supply of oxygen and nutrients supplied by the arteries and veins. Therefore, a defect in the system can impair the function, and it may quickly become a life-threatening issue. Thrombosis has been increasing in diseases such as peripheral vascular, neurovascular, and other diseases. Thrombosis is a biological response that is closely linked to cerebral aneurysms, which are balloon-like dilations of blood vessel walls, caused by the weakening of the wall layers.

The prevalence of cerebral aneurysms has increased excessively across the globe. ~30,000 people in the US suffer from brain aneurysm rupture every year. The brain aneurysm breaks every 18 minutes, and the annual rate of rupture in the US is found close to 8–10 per 100,000 people. Moreover, peripheral vascular diseases (PVD) decrease the blood flow and affect blood vessels outside of the heart and brain, and the most commonly affected parts of the body are legs and feet. This disease—a coronary artery disease—occurs in people facing problems with the arteries, which supply blood to heart. 

Other problems with the blood vessels that are linked to PVDs are varicose veins, deep vein thrombosis (DVT), and chronic venous insufficiency. ~6 million Americans have a blood clot in their veins. It is also termed as venous thrombus, venous thrombosis, or vein thrombosis. It can be life-threatening if the clot breaks loose from the vein and travels to the lungs, where it can completely block blood flow. Thus, the increasing incidences of target patients and the severity of these conditions are likely to fuel the growth of the thrombectomy devices market during the forecast period.

Accelerated advances in devices and procedures have propelled the development of thrombectomy procedure over the decade, from rudimentary mechanical disruption, followed by intra-arterial thrombolytic infusions, to increasingly effective thrombectomy devices. Improvements in endovascular thrombectomy devices have a very important role in enhancing the success and safety of the thrombectomy procedure. Researchers have focused on maximizing the reperfusion rates and reducing procedural complications associated with the devices. This has directed to the growth in device development. 

In cardiology, tissue plasminogen activator (tPA) was the primary method to pharmacologically revascularize patients, and it is still the primary therapy for the treatment of acute ischemic stroke. However, that trend at many centers is changing to a neurovascular interventional approach using thrombectomy catheters for clot removal. It is the only FDAapproved treatment modality for acute ischemic stroke. Many key companies—including Boston Scientific, BTG International Ltd., Medtronic, Teleflex, Penumbra Inc., Spectranetics (acquired by Philips Healthcare in 2017), AngioDynamics Inc., Edwards Lifesciences, Rex Medical, Terumo, Stryker, and Cerenovus—are involved in making these catheters. Penumbra key products, Penumbra JET 7 and JET D reperfusion catheters, deliver the deep vacuum aspiration power of the Penumbra ENGINE. 

This new device enables physicians to extract thrombus effectively and safely in acute ischemic stroke patients. In October 2018, Penumbra launched the Latest Advancements in the Stroke Thrombectomy Aspiration Technology.

Further, thrombectomy is being increasingly used in new therapeutic areas to treat acute stroke, DVT, pulmonary embolism (PE), and venous thromboembolism (VTE). Therefore, recent technological advancements is enabling wider scope for the application of thrombectomy devices and thus propelling the growth of this market.

Regulatory and reimbursement systems play a key role in creating an idea that promotes the adoption of thrombectomy devices for stroke or other diseases. Nonetheless, at present, the number of regulatory and reimbursement schemes for the neurovascular therapies and for other therapies is increasing significantly is increasing significantly. In January 2018, European Tech Reimbursement Consulting (MTRC) released a 62-page reimbursement report for mechanical thrombectomy for stroke.

The report covers procedure coding, payment mechanism, reimbursement tariffs, and policy restrictions in 11 EU countries, including Austria, Belgium, Denmark, England, France, Germany, Italy, the Netherlands, Norway, Sweden, and Switzerland. The report also covers essential information about reimbursement and national funding, including a brief overview of reimbursement system for medical devices, procedure coding for technology, diagnosis coding, payment mechanism for technology, reimbursement tariffs for technology, restrictions in indications or scenarios for use of technology, and technology-related policy considerations by payers and policymakers. 

Further, effective from January 1, 2018, the Medicare reimbursement has assigned hospital inpatient admissions involving percutaneous mechanical thrombectomy (PMT) of the lower limbs to Medicare diagnostic related group (MSDRGs) 270, 271, and 272 for percutaneous mechanical thrombectomy. For instance, for percutaneous mechanical thrombectomy (PMT), the national average reimbursement for surgical medicare diagnostic related group (MS-DRGs) for 270, 271, and 272 are US $29,782, US $20,395, and US $14,792, respectively. Similarly, there is coding and reimbursements for coronary procedures as well for physicians, and outpatient and inpatient hospital admissions.

Type-Based Insights

In terms of type, the Thrombectomy Devices in healthcare market is segmented into mechanical thrombectomy devices, aspiration thrombectomy, devices, rheolytic thrombectomy devices and ultrasonic thrombectomy. In 2018, the mechanical thrombectomy devices segment held the largest share of the market. Moreover, mechanical thrombectomy devices segment is expected to register the highest CAGR of 6.4% in the market during the forecast period.

Thrombectomy Devices in Healthcare Market, by Type – 2019 and 2027

Thrombectomy Devices in Healthcare Market, by Type – 2019 and 2027

Get more information on this report :

Application-Based Insights

Based on application, the Thrombectomy Devices in healthcare market is segmented into cardiovascular, peripheral vascular, neurovascular. In 2018, cardiovascular segment held the largest share of the market. However, peripheral vascular segment is expected to grow at the fastest rate during the coming year.

End User-Based Insights

In terms of end user, the Thrombectomy Devices in healthcare market is segmented into academic & research institutes, hospitals & clinics, ambulatory surgical center. In 2018, hospitals segment held the largest share of the market. Moreover, the hospitals segment is expected to grow at the fastest rate during the coming year.

Strategic Insights

Report Coverage - Thrombectomy Devices Market
Report CoverageDetails
Market Size Value inUS$ 1,282.07 Million in 2018
Market Size Value byUS$ 2,101.29 Million by 2027
Growth rateCAGR of 5.9% from 2019-2027
Forecast Period2019-2027
Base Year2019
No. of Pages154
No. of Tables72
No. of Charts & Figures64
Historical data availableYes
Segments coveredType , Application , End User and Geography
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available

The Thrombectomy Devices in healthcare market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.

Thrombectomy Devices in Healthcare Market – by Type

  • Mechanical Thrombectomy Devices
  • Aspiration Thrombectomy Devices
  • Rheolytic Thrombectomy Devices
  • Ultrasonic Thrombectomy Devices

Thrombectomy Devices in Healthcare Market – by Application

  • Cardiovascular
  • Peripheral Vascular
  • Neurovascula

Thrombectomy Devices in Healthcare Market – by End User

  • Hospitals & Clinics
  • Ambulatory Surgical Centers
  • Academic & Research Institutes

Thrombectomy Devices in Healthcare Market – by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America and Central America (SCAM)

    • Brazil
    • Argentina
    • Rest of SCAM

Company Profiles

  • Penumbra, Inc
  • Stryker Corporation
  • Medtronic, Inc.
  • Edward Lifesciences Corporation
  • Terumo Corporation
  • Koninklijke Philips N.V
  • Teleflex Incorporated
  • Johnson & Johnson Services, Inc.
  • Inari Medical
  • Argon Medical

The List of Companies

  1. Penumbra, Inc.
  2. Stryker Corporation
  3. Medtronic
  4. Edward Lifesciences Corporation
  5. Terumo Corporation
  6. Koninklijke Philips N.V.
  7. Teleflex Incorporated
  8. Johnson & Johnson Services, Inc.
  9. Inari Medical
  10. Argon Medical
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the thrombectomy devices market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global thrombectomy devices market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Get the Latest COVID-19 Analysis on this market

Have a Question?

Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Speak to Analyst
  • $3000
  • $4550 $3640
  • $6550 $5240
  • $8550 $6840

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis.

    Inquire for Discount