Thrombectomy Devices Market Expected to Reach $2.6 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Thrombectomy Devices Market," The thrombectomy devices market size was valued at $1.3 billion in 2020, and is estimated to reach $2.6 billion by 2030, growing at a CAGR of 7.4% from 2021 to 2030. Thrombectomy devices assist surgeons to remove blood clot from veins or arteries of the patient. These devices are efficient in treating blood clots in veins and arteries compared to other methods of clot management.

High occurrence of acute myocardial infarction (AMI), peripheral artery disease (PAD), deep vein thrombosis (DVT), and pulmonary embolism (PE) and rise in sedentary and unhealthy lifestyle drives the thrombectomy devices market growth. In addition, rise in healthcare infrastructure, increase in demand for minimally-invasive treatments, surge in geriatric population, growth in competition among key players, and technological advancements & innovations drive the thrombectomy devices market trends. For instance, in September 2021, Abbott, a pharmaceutical company, announced the acquisition of maker walk vascular, which is the mechanical thrombectomy device. Walk vascular offers JETi peripheral systems that helps to remove intravascular clots called a thrombus, which may minimize blood flow and lead to serious complications for patients. Moreover, in June 2021, AngioDynamics, a medical technology company, announced the U.S. Food and Drug Administration (FDA) clearance for alphaVac mechanical thrombectomy system, which is an off-circuit, multi-purpose mechanical aspiration thrombectomy device. It is used for the non-surgical removal of thrombi or emboli from the vasculature. Thus, increase in number of approval for thrombectomy devices, and increase in demand for thrombectomy device, surge the growth of thrombectomy devices industry. Unavailability of trained professionals, lack of awareness about thrombectomy devices, and complicated use of thrombectomy devices hinder the growth of the thrombectomy devices market share.

Thrombectomy devices market is segmented on the basis of technology, type, utility, application, and region. Depending on technology, it is categorized into mechanical thrombectomy devices, aspiration thrombectomy devices, and rheolytic thrombectomy devices. According to 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, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Region-wise, North America dominated the thrombectomy device market in 2020, and is expected to be dominant during the forecast period, owing to growth in advanced health care facility, rise in prevalence of neurological disorder, increase in number of approvals for thrombectomy devices, surge in number of surgical procedures, and rise in presence of key players in thrombectomy devices industry. However, Asia-Pacific is expected to register highest CAGR of 8.8% from 2021 to 2030, owing to growth in patient population, increase in government insurance coverage in developing countries, increase in prevelnce of cardiovascular disesaes and rise in approvals of new innovative embolization and mechanical thrombectomy products.

The COVID-19 outbreak negatively impacted the thrombectomy device market. The COVID-19 pandemic hampered healthcare systems across the globe. Surgical procedures are affected by COVID-19 pandemic. Several clinics and hospitals were restructured to increase hospital capacities for patients diagnosed with COVID-19. Implementation of lockdown, owing to COVID-19 outbreak declined the number of elective surgeries performed across the globe.

KEY FINDINGS OF THE STUDY

• By technology, the mechanical thrombectomy device segment was the highest contributor to the market in 2020.
• On the basis of type, the manual thrombectomy device segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
• On the basis of utility, the disposable thrombectomy device segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
• On the basis of application, neural disease segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
• Region-wise, North America garnered the largest revenue share in 2020. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.