Thrombectomy Devices Global Market Report 2024

The thrombectomy devices market has grown strongly in recent years. It will grow from $1.46 billion in 2023 to $1.58 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%.The expansion observed in the historical period can be ascribed to a heightened occurrence of strokes, a growing aging population with vascular disorders, advancements in minimally invasive procedures, increased awareness leading to early intervention, and enhanced clinical outcomes.

The thrombectomy devices market is expected to see strong growth in the next few years. It will grow to $2.1 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated growth in the upcoming period can be ascribed to the increasing aging population, continuous advancements in thrombectomy technology, global initiatives promoting stroke awareness, the integration of thrombectomy procedures with telemedicine, and collaborative efforts in research and development. Major trends expected in the forecast period include the introduction of next-generation stent retrievers, a heightened focus on neurointerventional thrombectomy, the incorporation of imaging guidance technologies, improvements in thrombus detection and imaging, and a shift toward outpatient thrombectomy procedures.

The thrombectomy devices market is expected to experience growth due to an increase in the incidence of cardiovascular diseases. Cardiovascular diseases (CVDs) encompass a range of disorders affecting the heart and blood vessels, such as coronary artery disease, heart failure, and arrhythmias. Thrombectomy procedures, designed to remove blood clots within blood vessels, are essential for addressing conditions such as acute ischemic stroke and acute myocardial infarction (heart attack) associated with cardiovascular diseases. As an illustration, a report from the American Heart Association in January 2023 revealed that CVD was the primary cause of death for 928,741 individuals in the United States in 2020. Globally, CVD-related mortality was estimated at 19.05 million in the same year. Consequently, the rising incidence of cardiovascular diseases is a key driver for the growth of the thrombectomy devices market.

The growth of the thrombectomy devices market is further fueled by the increasing aging population. An aging population signifies a demographic shift marked by a growing proportion of elderly individuals within a society. Thrombectomy devices play a crucial role in addressing various health concerns prevalent in the aging population, including stroke, coronary artery disease, aortic thrombosis, deep vein thrombosis (DVT), and others. According to the World Health Organization's projections in October 2022, it is anticipated that by 2030, one out of every six individuals globally will be 60 years old or older. The proportion of the population aged 60 and over is expected to rise from 1 billion in 2020 to 1.4 billion during this period. Furthermore, by 2050, the global population of individuals aged 60 and older is predicted to double, reaching 2.1 billion. Therefore, the increasing aging population is a significant driver for the growth of the thrombectomy devices market.

Technological advancements are a prominent trend gaining traction in the thrombectomy devices market. Companies within this market are embracing new technologies to maintain their competitive edge. For example, in February 2022, CERENOVUS, a US-based company specializing in neurovascular care and part of Johnson & Johnson Medical Devices Companies, introduced EMBOGUARD, a next-generation balloon guide catheter. This catheter is utilized in endovascular procedures, particularly for patients with acute ischemic stroke. EMBOGUARD is the latest addition to the CERENOVUS Stroke Solutions suite of technologies, designed for compatibility to assist physicians in performing mechanical thrombectomy procedures. The EMBOGUARD Balloon Guide Catheter aims to enhance clot clearance by regulating blood flow locally during mechanical thrombectomy operations. Balloon guide catheters contribute to improving first-pass recanalization, reducing procedure duration, and minimizing the risk of clot fragments breaking off and generating distant emboli.

Major players in the thrombectomy devices market are dedicated to creating innovative solutions, such as arterial thrombectomy systems. An arterial thrombectomy system is a medical device specifically crafted for removing blood clots (thrombi) from arteries. For instance, in June 2023, Penumbra, Inc., a US-based healthcare company, unveiled the 'Lightning Bolt 7,' a new arterial thrombectomy system designed for efficient blood clot removal from arteries. The system incorporates pressure sensors paired with an algorithm, facilitating the removal of large and fibrous blood clots from arteries with minimal blood loss. It is employed to address conditions where a blockage hinders blood flow to organs such as the intestines, spleen, limbs, and liver. The integration of computer-aided components not only enhances safety but also encourages a preference for an endovascular-first approach in a broader range of cases, prioritizing it over open surgery.

In July 2021, SurModics, Inc., a US-based company specializing in surface modification technologies for intravascular medical devices, acquired Vetex Medical Limited for an undisclosed amount. This acquisition demonstrates SurModics, Inc.'s commitment to expanding the thrombectomy platform to remove thrombus in venous vascular areas, offering a technology that delivers substantial improvements over current therapies. Vetex Medical Limited, based in Ireland, is engaged in developing a groundbreaking thrombectomy catheter designed to swiftly extract thrombus in a single session.

Major companies operating in the thrombectomy devices market report are Stryker Corporation, Medtronic plc, Boston Scientific Corporation, Johnson and Johnson, Terumo Corporation, Penumbra Inc., Edwards Lifesciences Corporation, Argon Medical Devices Inc., Teleflex Incorporated, AngioDynamics, Koninklijke Philips NV, Spectranetics Corporation, Abbott Laboratories, Inari Medical Inc., C. R. Bard Inc., BTG International Ltd., Walk Vascular LLC, Phenox GmbH, Acandis GmbH & Co. KG, Straub Medical AG, MicroVention Inc., Vascular Solutions Inc., Rapid Medical, Endo International plc, Acrostak AG, Neuravi Limited, Control Medical Technology LLC, Kaneka Corporation, Arteria Therapeutics Inc., Baxter International.

North America was the largest region in the thrombectomy devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global thrombectomy devices market report during the forecast period. The regions covered in the thrombectomy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the thrombectomy devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of thrombectomy devices include aspiration thrombectomy devices, mechanical thrombectomy devices, ultrasonic thrombectomy devices, and others. Aspiration thrombectomy devices are medical instruments designed for the removal of blood clots or thrombi from blood vessels. These devices find application in various areas such as cardiovascular, peripheral, and neurovascular applications, and are utilized by entities such as hospitals, surgical centers, ambulatory care facilities, academia, and contract research organizations (CROs).

The thrombectomy devices market research report provides thrombectomy devices market statistics, including thrombectomy devices industry global market size, regional shares, competitors with a thrombectomy devices market share, detailed thrombectomy devices market segments, market trends, and opportunities, and any further data you may need to thrive in the thrombectomy devices industry. This thrombectomy devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The thrombectomy devices market consists of sales of mechanical thrombectomy, and aspiration thrombectomy. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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