Thrombectomy Devices Market to 2027 - Global Analysis and Forecasts by Type (Mechanical Thrombectomy Devices, Aspiration Thrombectomy, Devices, Rheolytic Thrombectomy Devices and Ultrasonic Thrombectomy), Application (Cardiovascular, Peripheral Vascular, Neurovascular), End User (Academic & Research Institutes, Hospitals & Clinics, Ambulatory Surgical Center) and Geography
The global thrombectomy devices market is expected to reach US$ 2,101.29 Mn in 2027 from US$ 1,282.07 Mn in 2018. The market is estimated to grow with a CAGR of 5.9% from 2019-2027.
Driving factors of the thrombectomy devices are elevating incidences of CVDs and neurological diseases, ongoing technological advancements, and favorable medical reimbursement scenario. Also, growing healthcare expenditure and increasing researches and studies in the field of thrombectomy is likely to have a positive impact on the growth of the market in the coming years. Besides, rising healthcare expenditure, increasing research, and studies in the field of thrombectomy are likely to have a positive effect on the growth of the market in the forecast years.
Surgical thrombectomy is a surgery performed for the removal of a blood clot from an artery or vein. The surgery is performed when the blood coagulates and clusters to form a blood clot in the blood vessels. In operation, an incision is made using thrombectomy devices in a blood vessel. The clot is eliminated, and the blood vessel is fixed; it repairs blood flow. Mechanical thrombectomy devices are most widely used for surgical procedures as compared to the other methods.
As per the data released by National Health Expenditure (NHE), spending on healthcare in the US has progressed over time. The health spending has grown over 30-fold in the last four decades, from USD 355 per person in 1970 to USD 10,739 in 2017. The total expenditure figured USD 74.6 billion in 1970, and by 2000, it would reach ~USD 1.4 trillion. Total health expenditures describe the amount spent on healthcare and health-related activities (such as management of insurance, health research, and public health), including spending from both public and private funds. Moreover, from the Asia Pacific region, India's expenditure on the health sector has increased from 1.2% of the GDP in 2013-2014 to 1.4% in 2017-2018. Thus, such a rise in the healthcare expenditure of countries is providing growth opportunities for the thrombectomy devices market players.
In 2018, the mechanical thrombectomy devices segment accounted for the largest market share in the global thrombectomy devices market by the type segment. Various applications of mechanical thrombectomy include neurovascular, peripheral vascular, and cardiovascular, among other procedures. The market for the segment is anticipated to grow in the future on the back of the increasing use of these devices in new therapeutic areas to treat pulmonary embolism (PE), acute stroke, deep vein thrombosis (DVT), and venous thromboembolism (VTE).
The global thrombectomy devices market is segmented by type, application, and end-user. On the basis of type, the market is segmented into mechanical thrombectomy devices, aspiration thrombectomy devices, rheolytic thrombectomy devices, and ultrasonic thrombectomy devices. Based on the application, market is segmented into cardiovascular, peripheral vascular, and neurovascular. Based on the end user, the market is segmented into hospitals & clinics, ambulatory surgical centers, and academic & research institutes.
Some of the important primary and secondary sources included in the report are, Food and Drug Administration, World Health Organization (WHO), American Heart Association, Organization for Economic Co-operation and Development (OCED), British Heart Foundation (BHF), Japan Stroke Society, Indian Stroke Association (ISA) and others.
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