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The global atherectomy market was USD 1.39 billion in 2022 and is expected to reach USD 2.56 billion in 2032 growing at a CAGR of 7% during the forecast period.

NEW YORK, NY, UNITED STATES, April 30, 2023 /EINPresswire.com/ -- The global Atherectomy Market is expected to experience significant growth during the forecast period, with a projected CAGR of 7% from 2022 to 2032. One of the primary factors contributing to this growth is the increasing prevalence of cardiovascular diseases, which has led to a higher demand for atherectomy operations. According to the World Health Organization, cardiovascular diseases cause more than 17 million deaths annually, making them the leading cause of death worldwide.

Another significant factor driving the growth of the atherectomy market is the aging population. Since cardiovascular diseases are more prevalent among older people, atherectomy treatments are increasingly used to address these conditions in elderly patients. The UN predicts that by 2050, there will be over 2.1 billion people aged 60 or older globally.

Improved atherectomy tools are also contributing to the growth of the market. Manufacturers are continuously developing and enhancing devices to make the process less invasive, more efficient, and safer for patients. With the development of rotating and laser atherectomy devices, atherectomy treatments have become more effective in treating artery disease, driving revenue growth of the market.

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The demand for minimally invasive procedures is another factor driving the growth of the atherectomy market. Patients prefer atherectomy operations over traditional surgical procedures because they are less invasive and have a shorter recovery time. The availability of atherectomy operations at outpatient clinics and ambulatory surgery centers is also driving revenue growth.

Segments Covered in the Report:

The atherectomy devices market can be categorized by product type into four main segments: directional atherectomy devices, rotational atherectomy devices, orbital atherectomy devices, and laser atherectomy devices. Directional atherectomy devices are used to remove plaque from arteries, with the device cutting and removing the plaque in a single direction. Rotational atherectomy devices are designed to grind the plaque within the artery with the use of a high-speed rotational burr. Orbital atherectomy devices use a diamond-coated crown to sand the plaque down, while laser atherectomy devices use laser energy to vaporize and remove the plaque.

Furthermore, the atherectomy devices market can also be segmented by application into two categories: peripheral artery disease (PAD) and coronary artery disease (CAD). Peripheral artery disease (PAD) occurs when plaque builds up in the peripheral arteries, which are the blood vessels that supply blood to the arms and legs. Coronary artery disease (CAD) occurs when plaque builds up in the coronary arteries, which are the blood vessels that supply blood to the heart.

The market for atherectomy devices is expected to grow in the coming years due to the rising prevalence of peripheral artery disease and coronary artery disease globally. Additionally, technological advancements in atherectomy devices, such as the development of newer, more advanced devices, are expected to contribute to market growth.

Strategic Development:

In 2021, Boston Scientific Company acquired Preventice Solutions, Inc. for $925 million. Preventice Solutions, Inc. is a provider of remote monitoring and mobile health solutions. The acquisition aimed to improve patient outcomes and broaden Boston Scientific's digital health solutions offerings.
Medtronic, Inc. will launch the HawkOne Directional Atherectomy System in 2020, the latest atherectomy device. This system is designed to treat hardened and hard-to-reach lesions in peripheral arteries and can be used in both above-the-knee and below-the-knee surgeries.

The Phoenix Atherectomy System, introduced in 2020 by Philips Healthcare, is the newest atherectomy system. The system has a low-profile design, directional atherectomy ability, and is compatible with a variety of catheters. It is intended to treat peripheral artery disease.
Cardinal Health, Inc. acquired Medtronic Plc's patient care, deep vein thrombosis, and nutritional insufficiency businesses in 2019. The acquisition aimed to strengthen Cardinal Health's position in the global healthcare sector and expand its portfolio of medical devices.

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Competitive Landscape:

The healthcare industry is witnessing intense competition, and the medical device industry is no exception. The global market for medical devices is dominated by a few large players, along with a large number of small and medium-sized companies. Some major companies operating in the medical device industry include Boston Scientific Corporation, Cardinal Health, Inc., Philips Healthcare, Spectranetics Corporation, C.R. Bard, Inc., Medtronic, Inc., Minnetronix, Inc., Royal Philips, Terumo Corporation, and Volcano Corporation.

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Boston Scientific Corporation is a global leader in the medical device industry, with a focus on developing innovative medical devices to improve patient outcomes. Cardinal Health, Inc. is a multinational health care services company, providing medical products, services, and solutions. Philips Healthcare, a division of Royal Philips, is a leading provider of medical devices and solutions for diagnosis, treatment, and monitoring. C.R. Bard, Inc. is a subsidiary of BD and focuses on providing medical technologies and products for the healthcare industry. Medtronic, Inc. is a leading medical technology company, with a wide range of products and services for patients with chronic diseases.

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