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Atherectomy Device Market Poised for 8% CAGR Growth by 2032

Posted on by darion

Valued at $1.2 billion in 2022, the atherectomy device market is projected to reach $2.5 billion by 2032, registering a CAGR of 8% from 2023 to 2032. This increase can be attributed to several factors. The rising incidence of cardiovascular diseases such as coronary artery disease and peripheral arterial disease is significantly driving the market expansion. Additionally, growing interest in minimally invasive procedures, which provide shorter recovery times and lower risk of complications, is contributing to the increasing use of atherectomy devices.

Technological advancements in atherectomy devices, such as the development of laser atherectomy and rotational atherectomy systems, are increasing the effectiveness and safety of the treatment, further fueling the market growth. However, the market faces challenges, including high costs associated with atherectomy procedures and devices, which may pose a barrier to widespread adoption. Moreover, stringent regulatory requirements and shortage of skilled healthcare professionals also pose challenges to the market growth.

Recent market developments include significant acquisitions and product launches aimed at expanding the product portfolio and increasing technological capabilities. For example, Abbott’s acquisition of Cardiovascular Systems, Inc. is expected to in 2023 for approximately USD 890 million, will strengthen its position in the vascular treatment market. Likewise, the 2022 FDA approval of AngioDynamics’ Auryon atherectomy system highlights continued progress in this field.

The atherectomy device market is expected to grow significantly due to the rising incidence of cardiovascular diseases, technological innovations, and strategic growth of the industry, despite cost challenges and regulatory hurdles.

Key takeaways

  • Sales in the atherectomy device market are expected to exceed $2.5 billion until 2032.
  • In 2022, the Atherectomy Devices Market was valued at $1.2 billion.
  • The market is expected to register, among others: CAGR 8% from 2023 to 2032.
  • In 2022, the directional atherectomy segment was the market leader in terms of revenue.
  • Peripheral vascular applications are included 45% market share for atherectomy devices in 2022.
  • North America had the largest share of market revenues 36% in 2022
  • The APAC region is expected to have the highest growth rate of all regions.
  • The American Heart Association said cardiovascular disease is the cause 18.6 million deaths worldwide in 2019
  • Globally it’s over 200 million It is estimated that people suffer from peripheral arterial disease (PAD).
  • A study by the AHA found that atherectomy devices effectively… 94.7% patients.
  • The incidence of restenosis after atherectomy has been reported 37.7%.

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Key segments of the atherectomy device market

Based on the product

  • Directional atherectomy devices
  • Rotational atherectomy devices
  • Orbital atherectomy devices
  • Laser atherectomy devices
  • Photoablative atherectomy devices
  • Auxiliaries
  • Others

Based on the application

  • Peripheral vascular applications
  • Cardiovascular applications
  • Neurovascular applications

Based on end user

  • Hospitals and surgical centers
  • Ambulatory Care Centers
  • Research Laboratories
  • Academic institutes

Key Regions

  • North America (USA, Canada, Mexico)
  • Western Europe (Germany, France, UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic countries, rest of Western Europe)
  • Eastern Europe (Russia, Poland, Czech Republic, Greece, rest of Eastern Europe)
  • APAC (China, Japan, South Korea, India, Australia and New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, rest of APAC)
  • Latin America (Brazil, Colombia, Chile, Argentina, Costa Rica, rest of Latin America)
  • Middle East and Africa (Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, rest of MEA)

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Analysis of key players

Abbott Laboratories is a significant player in the atherectomy device market, known for innovation and strategic acquisitions. In February 2023, Abbott acquired Cardiovascular Systems Inc., expanding its portfolio to include advanced atherectomy systems for the treatment of both coronary and peripheral arterial disease. This acquisition enables Abbott to offer comprehensive vascular solutions using technologies that improve patient outcomes and expand their market reach.

Boston Scientific Corporation is a key competitor in the atherectomy device sector, offering a range of products for a variety of cardiovascular and peripheral applications. Their portfolio includes innovative technologies that increase the efficiency of procedures and patient safety. Boston Scientific continually invests in research and development, focusing on improving device performance and expanding their applications to maintain a competitive advantage in the marketplace.

Medtronic is a leader in medical technology with a strong position in the atherectomy device market. The company’s products are known for their reliability and effectiveness in the treatment of peripheral and coronary artery diseases. Medtronic’s continued product innovation and strategic partnerships have enabled the company to maintain a solid market position. The company’s focus on developing minimally invasive solutions has contributed to the development of this industry​​.

BD Interventional, part of Becton, Dickinson and Company, offers the Rotarex atherectomy system, which has received FDA approval for expanded indications. BD products are designed to treat complex vascular diseases, providing physicians with effective tools to clear arterial blockages. Their emphasis on product development and regulatory approvals has strengthened their position in the atherectomy device market.

Koninklijke Philips NV is known for its advanced atherectomy devices, including the Turbo-Elite laser atherectomy catheter and the IntraSight Mobile system. These devices use state-of-the-art laser technology to effectively treat a variety of vascular diseases. Philips continues to innovate and expand its product portfolio with a focus on improving clinical outcomes and patient safety. Their strategic initiatives and technological advancements have strengthened their presence in the global market.

Key players in the atherectomy device market:

  • Abbott Laboratories
  • Boston Science Corporation
  • Medtronic
  • Becton, Dickinson and Company (BD Interventional)
  • Koninklijke Philips NV
  • Avinger Inc.
  • Rex’s doctor
  • Angiodynamics
  • Cardiovascular Systems Inc.
  • Bard Peripheral Vascular Inc.
  • Spectranetics ul.
  • Jude Medical Inc.
  • Straub Medical AG
  • Terumo IS
  • Wulkan company
  • Other key players

Scope of the report on the atherectomy devices market >> Market value (2022): $1.2 billion || Projected revenues (2032): $2.5 billion || CAGR (2023–2032): 8% || Estimated base year: 2023 || Historical period: 2019-2022 || Forecast period: 2024-2033.

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