According to a new report, the global Clot Management Devices market size is expected to be worth around US$ 2.15 billion by 2030. The global Clot Management Devices market size was valued at US$ 1.5 billion in 2020 and is anticipated to grow at a CAGR of 14.6% during forecast period 2021 to 2030.
According to a new report, the global Clot Management Devices market size is expected to be worth around US$ 2.15 billion by 2030. The global Clot Management Devices market size was valued at US$ 1.5 billion in 2020 and is anticipated to grow at a CAGR of 14.6% during forecast period 2021 to 2030.
Report Highlights
- In 2020, percutaneous thrombectomy accounted for the maximum share of over 37%.
- The neurovascular embolectomy segment is expected to register the fastest CAGR of 7.9% over the forecast period.
- The end-user segmentation includes hospitals and diagnostic centers. In 2020, hospitals were the largest segment with a share of over 83%.
- Diagnostic centers are expected to grow with a high CAGR of 5.6% over the forecast period.
- North America held the majority share of over 62% in 2020.
- Asia Pacific is expected to be the fastest-growing region with a CAGR of 7.7% over the forecast period.
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Growth Factors
The market is expected to grow with a CAGR of 4.6% owing to the key drivers such as increasing prevalence of stroke, Pulmonary Embolism (PE), Deep Vein Thrombosis (DVT), obesity, growing geriatric population, technological advancements, and improvement in health insurance coverage & availability of emergency medical services.
Globally, the number of people impacted by PE and DVT, which are collectively known as Venous Thromboembolism (VTE), is much larger than AIDS, cancer, and road traffic accidents combined together.
The data published by the U.S. CDC indicates that stroke is amongst the leading cause of disabilities and is the fifth leading cause of deaths in the U.S. According to the estimates of CDC, PE and DVT affect nearly 900,000 people in the U.S. Furthermore, the CDC estimates also suggest the following:
- Approximately 60,000 to 100,000 Americans die due to VTE and nearly 10% to 30% of the people are expected to die within 1 month of their diagnosis
- Nearly 33% of the people with VTE will have a recurrence within 10 years
- In the U.S.,VTE accounts for over USD 10 billion in medical costs
The various risk factors that lead to VTE and stroke are classified as high, medium, and other risks. The high risk factors include hospitalization; spinal, hip, knee, & cancer surgeries; and inactivity for long time due to various reasons, such as postsurgery, sedentary lifestyle, etc. The moderate risk factors include age above 60 years, family history of blood clots, chemotherapy, and excessive use of estrogen-based medications. The other risk factors include obesity, pregnancy, smoking, and alcohol consumption.
Scope of the Report
Report Coverage | Details |
Market Size in 2021 | USD 1.5 Billion |
Revenue Forecast by 2030 | USD 2.15 Billion |
CAGR | 14.6% from 2022 to 2030 |
Largest Market | North America |
Fastest Growing Region | Asia Pacific |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
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Product Insights
The key products analyzed in the study include neurovascular embolectomy devices, embolectomy balloon catheters/clot management catheter, percutaneous thrombectomy devices, Catheter-directed Thrombolysis (CDT) devices, and Inferior Vena Cava Filters (IVCF).
In 2020, percutaneous thrombectomy accounted for the maximum share of over 37%. Some of the key products in this segment include Amplatzthrombectomy device, the Trellis device, Trerotola device, the AngioJet device, and others.
The neurovascular embolectomy segment is expected to register the fastest CAGR of 7.9% over the forecast period. The continuous investments in research and development, increasing demand for cost-effective devices, and improvement in patient health outcomes are expected to drive this segment over the forecast period.
End-User Insights
The end-user segmentation includes hospitals and diagnostic centers. In 2020, hospitals were the largest segment with a share of over 83%. The clot removal procedures entail high risk for patients. In the majority of the stroke cases, the patients are referred to the emergency services or critical care units as these units are thoroughly equipped with the infrastructure required for high-tech surgeries. Moreover, the reimbursement criteria for a patient who is treated in the hospital’s emergency unit varies from the criteria in other departments, such as asambulatory, and diagnostic centers.
However, diagnostic centers are expected to grow with a high CAGR of 5.6% over the forecast period. The growing demand to reduce hospital expenses and to reduce waiting time for low-risk clot removal procedures is expected to drive the industry over the forecast period.
Regional Insights
North America held the majority share of over 62% in 2020. The high prevalence of cardiovascular and peripheral diseases, growing geriatric population, presence of well-developed reimbursement framework are the key factors contributing to the high share of this region. In addition, growth in the number of people exposed to risk factors, such as smoking, alcohol consumption, substance abuse, obesity, is expected to positively reinforce the growth over the forecast period.
Asia Pacific is expected to be the fastest-growing region with a CAGR of 7.7% over the forecast period. Countries such as India and China are witnessing high growth in obesity, diabetes, and cardiovascular diseases due to change in lifestyle, demographic factors, and an increase in disposable income. The growing prevalence of target diseases coupled with improvement in healthcare infrastructure and introduction of technologically advanced products are expected to drive the demand for clot management devices over the forecast period.
Key Players
Medtronic; Boston Scientific Corporation; iVascular; Teleflex; Edwards Lifesciences; LeMaitre Vascular; Vascular Solutions, Inc.; Straub Medical; and others.
Market Segmentation
- Product Outlook
- Neurovascular Embolectomy Devices
- Embolectomy Balloon Catheters
- Percutaneous Thrombectomy Devices
- Catheter-Directed Thrombolysis (CDT) devices
- Inferior vena cava filters (IVCF)
- End-User Outlook
- Hospitals
- Diagnostic Centers
- Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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