Atherectomy Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Atherectomy Devices Market By Product Type (Directional, Rotational, Photoablative, And Orbital), By End User (Hospitals, Specialty Clinics, And Others), and by geography is expected to grow at a steady CAGR forecast till 2027 owing to increasing prevalence of cardiovascular diseases such as sudden cardiac arrest and lifestyle disorders such as hypertension

Global Atherectomy Devices Market was valued at USD 939 million in 2021, growing at a CAGR of 9.24% during the forecast period from 2022 to 2027 to reach USD 1,596 million by 2027. The demand for Atherectomy devices is primarily being boosted by increasing geriatric population, rising prevalence of cardiovascular diseases, growing prevalence of lifestyle disorders such as hypertension and diabetes, and innovation in product development thereby contributing in the overall growth of the Atherectomy devices market during the forecast period.

Atherectomy Devices Market Dynamics:

The Atherectomy devices market is witnessing a growth in product demand owing to various factors, one of the key factors being the increase in the prevalence of cardiovascular diseases. Cardiovascular diseases (CVD) are the world's leading cause of death, killing an estimated 17.9 million people each year, according to data from the World Health Organization (2021). As per the Australian Bureau of Statistics (2021), during the period 2017-218, the prevalence of heart disease amongst Australians was around one in twenty (4.8% or 1.2 million people). Some of the CVDs include myocardial infarction, congestive heart failure, acute coronary syndrome, and other conditions. According to the Centers for Disease Control and Prevention (2022), approximately 805,000 people in the United States have a heart attack every year. For instance, atherosclerosis is considered a major cause behind myocardial infarctions, strokes, peripheral arterial disease, and heart attack. In order to avoid the progression to other serious CVDS, treatment of atherosclerosis becomes imperative wherein the application of Atherectomy devices have become a norm. Therefore, the increase in the prevalence of cardiovascular diseases is projected to result in the growing demand for Atherectomy devices, thereby contributing in the growth of the Atherectomy devices market during the forecast period.

Moreover, another key factor which is aiding in the growth of Atherectomy devices is the growing demand for minimally invasive devices and procedures. This can be attributed to the realization of advantages associated with minimally invasive approaches such as faster healing time and significantly less trauma compared to conventional techniques. Atherectomy devices such as directional Atherectomy is considered to be a minimally invasive treatment and has been reported to provide distinct advantage in the removal of obstructive intima hyperplastic or atherosclerotic lesions without the involvement of implantable devices such as the stents. Furthermore, Atherectomy devices help in avoiding disadvantages associated with surgical procedures such as surgical scarring and inflammation after stent implantation. Therefore, the advantages offered by arthrectomy systems are expected to further drive the growth of the Atherectomy devices during the forecast period.

Moreover, the advancements in product development such as the development of wearable Atherectomy devices is further expected to aid in the growth of the global Atherectomy devices market.

However, high capital investments in laser-related Atherectomy devices and procedure-related risks such as increased risk of distal embolization and arterial perforation may restrict the Atherectomy devices market growth.

The Atherectomy devices market experienced a period of temporary setback as lockdown restrictions were enforced as a necessary step to curb the spread of COVID-19. One of the major steps during the COVID surge was the suspension of numerous elective procedures and outpatient visits which reduced the demand for these devices in the market as the healthcare system guidelines across the globe temporarily focused all their efforts on the management of COVID-19 infection patient load during the initial lockdown period. Nevertheless, the Atherectomy devices market is in a recovery phase, and with the approval and administration of numerous COVID-19 vaccines around the world, activities in various fields including healthcare services have started to resume to pre-COVID levels, thereby providing ample opportunities for the Atherectomy devices to grow at significant revenue during the forecast period.

Atherectomy Devices Market Segment Analysis:

Atherectomy Devices Market by Product Type (Directional, Rotational, Photoablative, and Orbita), by End User (Hospitals, Specialty Clinics, and Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product segment of the Atherectomy devices market, the rotational ATHERECTOMY devices category is expected to amass significant revenue share during the forecast period. This can be ascribed to their advantages such as the extremely fast spin between 140,000 and 190,000 rpm over a guidewire and allows for the creation of a channel and excises plaque by burrowing through it. Even though it is primarily indicated to be used in coronary vessels, it can also be used for plaque removal in lower extremity vessels. Another advantage of these systems is that they can combined with thrombectomy that allows for the simultaneous performance of cutting and aspiration.

Therefore, the advantages offered by the rotational Atherectomy devices is predicted to contribute in the increasing demand for this product type thereby driving the growth of the overall Atherectomy devices market during the forecast period.

North America is expected to dominate the overall Atherectomy Devices Market:

Among all the regions, North America is estimated to account for the largest share in the Atherectomy devices market. Owing to significance of key growth factors such as rising prevalence of cardiovascular diseases like coronary heart disease, peripheral arterial disease, increasing prevalence of obesity, hypertension and diabetes, and the rising aging population, along with the rising government initiatives regarding disease treatment awareness, is driving the North America Atherectomy devices market and expected to witness positive growth. Furthermore, high disposable income, sophisticated healthcare infrastructure, and fast regulatory approval for new products, helping the market to growth in this region.

Further, the United Sates hold the major share in North America and global Atherectomy devices market, one of the key reasons includes the rising prevalence of cardiovascular diseases in the US population. As per the data studied from 2005 to 2014 in a study quoted by the American Heart Association (2021), the estimated annual incidence of heart attack in the country was 605,000 new and 200,000 recurrent attacks. In another figures quoted by the CDC, in 2020, percent of adults who were ever been diagnosed with coronary heart disease in the country was 4.6%. Atherectomy devices are used in the drilling, grinding, and sanding of atheroma, excess cellular material, and calcium from coronary occlusion stenosis site. The high number of deaths mentioned in the above-stated fact represent the high patient burden that could have been treated had early diagnosis or treatment would have been made possible for such patients. It further represents the potential patient population present that may be present in the country at a given timeframe. Therefore, the rising incidence of coronary heart disease in the country is expected to aid in the demand for Atherectomy systems thereby resulting in more revenue generation in the United States Atherectomy devices market.

Moreover, the rising prevalence of lifestyle disorders such as the hypertension and diabetes is also considered as a key factor in the growing number of cases of atherosclerosis which in turn acts as a major risk factor for various CVDs. As per the data provided by the Centers for Disease Control and Prevention (2021), in 2018, near about 116 million people in the United States suffered from hypertension. Additionally, the data stated in the National Diabetes Report of the CDC, in 2020, 34.2 million Americans had diabetes and near about 88 million American adults exhibited prediabetic levels. Both hypertension and diabetes are considered to be one of the key risk factors for the development of atherosclerosis in patients and in turn make them susceptible to increased chances of stroke and other CVDs. Atherectomy is performed on patients with athereosclerosis to remove plaque formed in blood vessels. Therefore, the presence of large patient population suffering from hypertension and diabetes correlates to the presence of a high patient population suffering from heart diseases such as strokes and atherosclerosis which would indicate the growing need for Atherectomy devices, thereby resulting in increase in product demand supporting the growth of the United States Atherectomy devices market as well as the overall North America Atherectomy devices market during the forecast period.

Coupled with the factors mentioned above, the increasing interest of product manufacturers in the region also helps in boosting the regional product demand. For instance, in July 2020, BD acquired Straub Medical AG, a privately-held company involved in the development of medical Atherectomy and thrombectomy devices that treat peripheral arterial disease (PAD) and venous disease. Such measures help in gaining the market share for the manufacturers as well as benefit end users in terms of better product pricing from the competition standpoint, thereby driving the North America ATHERECTOMY devices market forward during the forecast period.

Atherectomy Devices Market Key Players:

Some of the key market players operating in the Atherectomy devices market includes Koninklijke Philips N.V., Medtronic, Boston Scientific Corporation, AngioDynamics Inc, Cardiovascular Systems Inc, Avinger, BD, Ra Medical Systems, REX Medical and others.

Recent Developmental Activities in Atherectomy Devices Market:

• In January 2021, Cardiovascular Systems Inc received the CE mark for their Diamondback 360 Coronary Orbital Atherectomy System (OAS). The device is equipped with CSI's GlideAssist that allows for easier removal, tracking, and smoother repositioning of the device.
• In May 2021, Koninklijke Philips N.V introduced the new Phillips Laser System for peripheral and coronary arthrectomy procedures.
• In September 2020, AngioDynamics announced the commercial launch of their Auryon Atherectomy System in the United States. The device is based on the solid-state laser technology.

Key Takeaways from the Atherectomy Devices Market Report Study

• Market size analysis for current ATHERECTOMY devices market size (2021), and market forecast for 5 years (2022-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Atherectomy devices market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the Global Atherectomy Devices Market.
• Various opportunities available for the other competitor in the Atherectomy Devices Market space.
• What are the top performing segments in 2021? How these segments will perform in 2027.
• Which is the top-performing regions and countries in the current Atherectomy devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for ATHERECTOMY devices market growth in the coming future?

Target Audience who can be benefited from this Atherectomy Devices Market Report Study

• Atherectomy Devices products providers
• Research organizations and consulting companies
• Atherectomy Devices-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Atherectomy devices
• Various End-users who want to know more about the Atherectomy Devices market and latest technological developments in the Atherectomy Devices market.

Frequently Asked Questions for Atherectomy Devices Market:

1. What is an Atherectomy Device?

Atherectomy devices are medical devices which help in plaque removal from peripheral as well as coronary vasculature by cutting, shaving, sanding, or vaporizing the plaque deposits.

2. What is the market for Global Atherectomy Devices?

Global Atherectomy Devices Market was valued at USD 939 million in 2021, growing at a CAGR of 9.24% during the forecast period from 2022 to 2027 to reach USD 1,596 million by 2027.

3. What are the drivers for Global Atherectomy Devices Market?

The demand for Atherectomy devices is primarily being boosted by increasing geriatric population, rising prevalence of cardiovascular diseases, growing prevalence of lifestyle disorders such as hypertension and diabetes, and innovation in product development thereby contributing in the overall growth of the Atherectomy devices market during the forecast period.

4. Who are the key players operating in Global Atherectomy Devices Market?

Some of the key market players operating in the ATHERECTOMY devices market includes Koninklijke Philips N.V., Medtronic, Boston Scientific Corporation, AngioDynamics Inc, Cardiovascular Systems Inc, Avinger, BD, Ra Medical Systems, REX Medical and others.

5. Which region has the highest share in Atherectomy Devices market?

North America is expected to dominate the overall Atherectomy Devices market during the forecast period. Factors such as rising prevalence of cardiovascular diseases such as coronary heart disease, peripheral arterial disease due to the increasing prevalence of obesity, hypertension and diabetes, the aging population, and rising government initiatives regarding disease treatment awareness, the North America ATHERECTOMY devices market is expected to witness positive growth. Furthermore, high disposable income, sophisticated healthcare infrastructure, regulatory approval for new products, and high awareness also helped the market growth in this region.


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