The market is estimated to grow with a CAGR of 8.1% from 2018-2025.
Chronic Total Occlusion Market Insight
According to The Insight Partners market research study titled ‘Chronic total occlusion Market to 2025 - Global Analysis and Forecasts by Equipment and End User. The global chronic total occlusion market is expected to reach US$ 516.1 Mn in 2025 from US$ 280.7 in 2017. The market is estimated to grow with a CAGR of 8.1% from 2018-2025. The report highlights the trends prevalent in the global chronic total occlusion market and the factors driving the market along with those that act as deterrents to its growth.
The market for chronic total occlusion is expected to grow as increasing demand for minimally invasive surgical procedures, rising prevalence of artery diseases, technological advancements, and rising geriatric population are expected to fuel the market growth during the forecast period. In addition, increasing medical tourism in emerging nations are likely to have a positive impact on the growth of the global chronic total occlusion market in the coming years.
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Chronic Total Occlusion Market Comparative Landscape and Key Development
The major players operating in the chronic total occlusion market are ASAHI INTECC CO., LTD, SoundBite Medical Solutions, Integer Holdings Corporation, Baylis Medical Company, Inc, SPECTRANETICS, C. R. Bard, Inc., Boston Scientific Corporation, Medtronic, Terumo Corporation, Cordis, and Abbott. For instance, in August 2017, Koninklijke Philips N.V. completed the acquisition of The Spectranetics Corporation in order to accelerate its strategic expansion into cardiovascular devices.
Rising Prevalence of Artery Diseases
Since the last 25 years, the number of cardiovascular cases has increased in Europe and in the European Union. The addition in the cardiovascular cases are observed in most of the countries in this region. According to the European Cardiovascular Disease Statics in 2015, near about 85 million people in Europe and 49 million in EU were suffering with cardiovascular diseases. In Europe, every year cardiovascular disease (CVD) causes 3.9 million deaths and more than 1.8 million deaths in the European Union (EU). The CVD accounts for 45.0% of all deaths in Europe and 37.0% of all deaths in the EU. CVD is the major reason of the death in men and women in all countries.
Technological Advancements
Advancement in the field of science has enhanced the chronic total occlusion devices. Many industry players have come up with innovative types of chronic total occlusion devices in last few years. The advancement in the chronic total occlusion devices has led to the faster and easier treatment and recovery of patients. For instance, in September 2018, SoundBite Medical Solutions Inc. (SBMS) launched the ACTIVE Trial, recently approved study by Health Canada for the demonstration of the potential of the SoundBite Active Wire to cross coronary chronic total occlusions (CTOs). Moreover, in February 2018, Asahi Intecc received the FDA approval for CTO (Chronic Total Occlusion) indication for selected products. The approval aims to provide help to the cardiologists to successfully complete complex procedures that now account for up to 70 percent of cases.
Chronic Total Occlusion Market: Segmental Overview
Global chronic total occlusion market, based on end user was segmented hospitals, ambulatory care centers and others. In 2017, hospitals segment held the largest share of the market, by end user. CTOs are blockages that have typically been present for above than three months. These blockages are a result of severe build-up of fatty deposits or plaque within the arteries (atherosclerosis) and are one of the complications from coronary artery disease (CAD). Hospitals dominate the end user segment as it is the primary health systems in most of the countries. Hence the number of CTO procedures in hospitals is more than any other healthcare facility. Also, increasing adoption of new technology devices in the hospitals and rising hospital research drives the market growth. Thus, hospitals is expected to dominate the end-user segment during the forecast period.
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