Selbyville, Delaware, March 25, 2021 (GLOBE NEWSWIRE) —
According to latest report “Atherectomy Devices Market by Product (Directional Atherectomy Devices, Orbital Atherectomy Devices, Laser Atherectomy Devices, Rotational Atherectomy Devices), Application (Peripheral Vascular Application, Coronary Application), End-use (Hospitals, Ambulatory Surgical Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of atherectomy devices will cross $1 billion by 2027.
Growing target population along with increasing cases of patients suffering from ailments such as diabetes, hypertension, obesity and atherosclerosis will surge the market growth. There has been relation between people suffering from cardiac and diabetic ailments and increased complications of peripheral atrial diseases. The number of hospitalizations has been consistently on rise owing to influx of patients managing atrial plaque by means of angioplasty, and surgical interventions. Surging demand for minimally damaging surgical operatives, and beneficial medical reimbursement scenario in developed economies are among the other factors fueling the market expansion. In addition to this, ongoing technological advances to develop technically superior products, integration of laser technology in the atherectomy devices, non-invasive imaging, and prevention of cerebrovascular as well as cardiac complications would stimulate the demand for these devices.
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Orbital segment held 30% of the atherectomy devices market share in 2020 led by the ability to increase orbiting speed and orbiting action, thereby reducing substantial amount of time in the atherectomy procedure. Additionally, orbital atherectomy devices such as Diamondback 360° Orbital Atherectomy System integrated with proprietary guide wire system facilitates use of guide wires of configurable sizes and increases application in different conditions. Orbital atherectomy is highly recommended in treating diseased veins and calcified lesions.
The coronary applications segment will showcase growth rate of 12% till 2027. According to a published article of 2019, the coronary artery calcification (CAC) disease is highly prevalent in a patient with coronary heart disease. CAC is individually correlated with cardiovascular death risk among chronic kidney disease patients is contributing to the rising demand for atherectomy devices.
The ambulatory surgical centers in the atherectomy devices market are estimated to attain a CAGR of 9.7% through 2027. Ambulatory surgical centers are increasingly reporting exponential growth in a peripheral vascular procedure. Improving reimbursement scenarios related to such procedures in these facilities will further drive the segment revenue. Furthermore, focus on operational efficiency, convenient environment, short stay, development of a comprehensive ambulatory market strategic plan, and highly efficient professionals fosters the segment growth.
Brazil dominated the Latin America atherectomy devices market and accounted for around USD 7 million in 2020 due to the rising life expectancy, increasing disposable income, medical technology development, increasing healthcare expenditure, and preference for early detection and non-invasive therapies for pulmonary vascular disease treatments. Moreover, the main risk factors for peripheral artery disease (PAD) such as smoking, sedentary lifestyle, age, and diabetes mellitus are impelling the market value.
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Some of the major players operating in the market are Avinger, Medtronic, Cardiovascular Systems, Inc. (CSI), and Koninklijke Philips N.V. among others. These major companies are emphasizing on multiple strategic mergers & acquisitions, and geographical expansions to enhance their presence in the market.
Table of Contents (ToC) of the report:
Chapter 3. Atherectomy Devices Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 – 2027
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.2. Industry pitfalls & challenges
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By application
3.4.3. By end-use
3.5. COVID-19 impact analysis
3.6. Porter’s analysis
3.7. Competitive landscape, 2020
3.7.1. Competitive matrix analysis, 2020
3.8. PESTEL analysis
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