Thrombectomy Devices Market Size to Garner US$ 2.6 Billion by 2030

The global thrombectomy devices market was estimated at $1.3 billion in 2020, and it is projected to garner around US$ 2.6 billion by 2030, growing at a CAGR of 7.4% from 2021 to 2030.

Thrombectomy device is an intracoronary catheter with central aspiration lumen through which the thrombus is extracted. It is used to treat blood clots, which are present in capillaries, veins, and arteries. Surgical thrombectomy is a procedure used to remove blood clot from an artery or vein, which obstructs blood flow. Thrombectomy devices are designed to minimize damage caused to blood vessels during surgical procedure and reduce blood loss. These devices are used for  treatment of acute myocardial infraction, peripheral arterial diseases, deep vein thrombosis, pulmonary embolism, and neurovascular thrombosis conditions.

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Key factors that drive thrombectomy devices market growth include increase in prevalence of acute myocardial infarction (AMI), peripheral artery disease (PAD), deep vein thrombosis (DVT), and pulmonary embolism (PE). In addition, increase in sedentary lifestyle, surge in unhealthy living conditions & habits of young generation, and rise in  geriatric population drive the growth of the thrombectomy devices market size. Increase in incidence of cardiovascular diseases, growth in demand for minimally invasive procedures, surge in initiative by government and private organization for better healthcare infrastructure, and rise in competition among key players led to technological advancements and innovations in thrombectomy devices industry, driving the growth of the thrombectomy devices market share. Meanwhile, increase in number of approvals for new products propel the growth of the market. For instance, in January 2021, the U.S. Food and Drug Administration (FDA), announced clearance for AlphaVac mechanical thrombectomy system, which is an off-circuit, multi-purpose mechanical aspiration thrombectomy device. It is used for non-surgical removal of thrombi or emboli from vasculature.

Scope of the Report

Moreover, in December 2021, Terumo Aortic, a medical device company, announced launch of aortic balloon device. This device assists physicians in expansion of aorta while using TREO and RELAY stent grafts in endovascular aortic repair. Opportunities in thrombectomy device market are due to introduction of lasers, UV radiation, and 3D imaging generation in thrombectomy devices. Laser facilitated thrombectomy can be another therapeutic option for removal of clots from arteries of brain and heart. In addition, 3D imaging along with thrombectomy is popular in current healthcare industry . Furthermore, combination of decompressivehemicraniectomy and endovascular thrombectomy treatment in patients appeared to be safe and  provide good clinical outcome. This factors drive the growth of the thrombectomy device market.

However, unavailability of trained professionals, lack of awareness about thrombectomy devices, and complicated use of thrombectomy devices are expected to restrict the market growth during the thrombectomy devices market forecast period.

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Thrombectomy Device Market Segmentation

The thrombectomy devices market  is segmented into technology, type, utility, application, and region. According to technology, it is categorized into mechanical thrombectomy devices, aspiration thrombectomy devices, and rheolyticthrombectomy devices. Depending on type, it is divided into automated devices and manual devices. As per the utility, it is bifurcated into reusable devices and disposable devices. By application, it is categorized into peripheral diseases, coronary diseases, and neural diseases.

Region wise, market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

Segment review

Depending on technology, the mechanical thrombectomy device segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to development of new innovative mechanical thrombectomy devices and increase in number of key players for manufacturing of thrombectomy devices.

However, the rheolytic segment is expected to witness considerable growth during the forecast period, owing to launch of novel and more advanced products by key players and advancement in technology in medical device sector.

By type, manual thrombectomy device segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in R&D activities in healthcare sector and development of advanced thrombectomy device. However, the automated device segment is expected to witness considerable growth during the forecast period, due to increase in its demand.Automated device saves labor and provides precise & accurate results with improved quality. Automated thrombectomy devices use various control systems, which work automatically in removal of clot from blood vessels. These devices include thrombectomy devices, which work sequentially and are controlled by computers.

As per utility, disposable thrombectomy device segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in use of disposable thrombectomy devices, which limits the infection. However, reusable thrombectomy device segment is expected to witness considerable growth during the forecast period, due to increase in launch of novel product and rise in number of key players for development of reusable thrombectomy devices.

According to application, neural disease segment dominated the market in 2020 and this trend is expected to continue during the forecast period, owing to rise in prevalence of neurological disorder and implementation of government policies to spread awareness about the neural disease among population.

However, coronary disease segment is expected to witness considerable growth during the forecast period, due to increase in prevalence of coronary heart disease, rise in geriatric population, and advancement in R&D activities for the treatment of coronary artery disease.

Region-wise, North America dominated the thrombectomy device market in 2020 and is expected to be dominant during the forecast period, owing to surge in advanced health care facility, rise in prevalence of neurological disorder, increase in number of approval for thrombectomy devices, growth  in number of surgical procedure, and rise in presence of key players. In addition, the U.S. is highly affected by cardiovascular diseases and acute ischemic stroke. However, Asia-Pacific is expected to register highest CAGR of 8.8% from 2021 to 2030, owing to large patient population, increase in government insurance coverage in developing countries, rise in approval of new innovative embolization, and mechanical thrombectomy products.

The key players operating in the global thrombectomy device market include, AngioDynamics, Inc., Johnson & Johnson, Inc., Penumbra Inc., Terumo Corporation, Abbott, Boston Scientific Corporation, Medtronic plc., Stryker Corporation, and Teleflex Incorporated.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the thrombectomy devices market analysis from 2020 to 2030 to identify the prevailing thrombectomy devices market opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the thrombectomy devices market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global thrombectomy devices market trends, key players, market segments, application areas, and market growth strategies.

 Key Market Segments

• By Technology
  • Mechanical Thrombectomy
  • Aspiration Thrombectomy
  • RheolyticThrombectomy
• By Type
  • Automated Devices
  • Manual Devices
• By Utility
  • Reusable Devices
  • Disposable Devices
• By Application
  • Peripheral Diseases
  • Coronary Disease
  • Neural Diseases
• By Region
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • Australia
    • Rest Of Asia Pacific
    • China
    • Japan
    • India
  • LAMEA
    • Brazil
    • Turkey
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

Key Market Players

• Abbott Laboratories
• AngioDynamics, Inc
• Boston Scientific Group
• Johnson and Johnson
• Koninklijke Philips N.V.
• Medtronic plc
• Penumbra Inc.
• Stryker Corporation
• Teleflex Incorporated
• Terumo Corporation

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