(PharmaNewsWire.Com, March 24, 2020 ) Factors such as favorable reimbursement scenario for atherectomy procedures, increasing number of research activities in the field of atherectomy, and increasing healthcare expenditure are driving the growth of the market.
The market is projected to reach USD 1.45 Billion by 2022 from USD 1.08 Billion in 2017, at a CAGR of 6.1%.
Based on product, the directional atherectomy devices segment is expected to witness the highest growth during the forecast period.
On the basis of product, the atherectomy devices market is categorized into directional, orbital, photo-ablative (laser), rotational atherectomy devices, and support devices. In 2017, the directional atherectomy devices segment accounted for the largest share of the market. It is also expected to register the highest CAGR during the forecast period. This can be attributed to clinical benefits offered (such as lack of barotrauma, less risk of neointimal hyperplasia, immediate change of bypass site, and availability of differently sized instruments to enable atherectomy in blood vessels) and ongoing technological advancements in the field of directional atherectomy.
Based on end user, the hospitals and surgical centers segment is expected to witness the highest growth during the forecast period.
Based on end user, the market is segmented into hospitals & surgical centers, ambulatory care centers, and research laboratories & academic institutes. The hospitals and surgical centers segment is expected to register the highest CAGR during the forecast period. The large share of this segment is attributed to increasing adoption of atherectomy for cardiac & peripheral vascular disease treatment, ongoing technological advancements in the field of minimally invasive or image-guided atherectomy procedures, rising incidence of chronic vascular diseases, and growing availability of healthcare reimbursements across major countries.
Geographically, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the market in 2017, followed by Europe. Factors such as increasing availability of reimbursements for atherectomy devices, growing adoption of atherectomy devices among medical professionals, large patient population of peripheral & coronary artery diseases, and growing number of clinical trials are driving the growth of the North American atherectomy devices market.
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