The global atherectomy devices market size is expected to reach USD 957.8 million by 2026, based on a new report by Grand View Research, Inc. The market is projected to register a CAGR of 7.0% over the forecast period. The demand for atherectomy devices market is anticipated to boost over the forecast period due to rapidly rising incidence of target diseases such as peripheral artery disease. Favorable patient outcomes with minimally invasive procedures is also driving demand of atherectomy devices for peripheral vascular interventions.
New
technologies and product approvals are expected to boost the market for orbital
and laser atherectomy devices over the forecast period. For instance, in July
2018, Cardiovascular Systems, Inc. (CSI) signed an agreement with Aerolase
Corp. to co-develop a new laser atherectomy device. The agreement gave CSI an
opportunity to leverage Aerolase’s FDA cleared proprietary laser technology.
The new laser atherectomy system will be used for treating multiple forms of
peripheral arterial diseases
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Further Key
Findings From the Study Suggest:
- In 2018, the
directional atherectomy segment held the largest market share owing to
their capability of collecting the shaved plaque in a collecting space,
which reduces the risk of barotrauma, dissection, and neointimal
hyperplasia.
- Laser
atherectomy devices is expected to the fastest growing segment over the
next 8 years. Laser technique is perceived as to have more precision in
plaque removal and cause fewer complications. It is also believed to
result in lesser incidence of restenosis.
- Geographically,
North America held the largest market share in 2018 and is expected to
maintain its position during the forecast period. A high prevalence of
Peripheral Artery Diseases (PAD) in this region is one of the key reasons
for high demand of atherectomy. Almost 8.5 million people suffer from PAD
in the U.S., resulting in an annual economic burden of nearly USD 160
million.
- Asia Pacific
is anticipated to observe the fastest growth over the coming years.
Improving economic conditions leading to increasing prevalence of
lifestyle diseases, especially cardiovascular and peripheral, is the key
reason for this growth.
- Some of the
key industry contributors are Boston Scientific Corporation,
Cardiovascular Systems Inc., Medtronic (Covidien), Spectranetics, VOLCANO
CORPORATION, Avinger Inc., Koninklijke Philips N.V., Straub Medical AG,
ST. JUDE MEDICAL, BARD Peripheral Vascular, Cardinal Health (Cordis), and
Terumo IS.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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