Atherectomy Devices Market Is Expected To Reach USD 894.69 Million By 2025 : Grand View Research Inc.
San Francisco, 27 August 2019: The Report Atherectomy Devices Market Analysis By Type (Directional Atherectomy, Rotational Atherectomy, Orbital Atherectomy, Laser Atherectomy), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2018 – 2025
The global atherectomy devices market size was valued at USD 894.69 million by 2025 and is projected to grow with CAGR of 6.97% over the forecast period. The rising prevalence of target diseases is the key driver of the market. More than 250 million people worldwide suffer from peripheral artery disease (PAD), which also includes low-income countries to some extent. The prevalence of PAD increased by 24% between 2000 to 2010 and continues to grow at an exponential rate. Both high- and low-income countries have this prevalence. Low-income countries witnessed a growth of 29%, while high-income countries witnessed a growth of 13% in the last decade.
New technologies and product approvals are expected to boost the market for orbital and laser atherectomy devices over the forecast period. For instance, in July 2016, Cardiovascular Systems Inc. submitted an application for approval to Pharmaceuticals and Medical Devices Agency (PMDA), Japan’s regulatory agency for pharmaceuticals and medical devices. The company intends to launch Diamondback 360 Coronary OAS Micro Crown in the region and is looking for potential distributors. This would be the company’s first international market entry and the approval procedure is yet to be completed.
Access Research Report of Atherectomy Devices Market @ www.grandviewresearch.com/industry-analysis/atherectomy-device-market
Further Key Findings from the Study Suggest:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
The global atherectomy devices market size was valued at USD 894.69 million by 2025 and is projected to grow with CAGR of 6.97% over the forecast period. The rising prevalence of target diseases is the key driver of the market. More than 250 million people worldwide suffer from peripheral artery disease (PAD), which also includes low-income countries to some extent. The prevalence of PAD increased by 24% between 2000 to 2010 and continues to grow at an exponential rate. Both high- and low-income countries have this prevalence. Low-income countries witnessed a growth of 29%, while high-income countries witnessed a growth of 13% in the last decade.
New technologies and product approvals are expected to boost the market for orbital and laser atherectomy devices over the forecast period. For instance, in July 2016, Cardiovascular Systems Inc. submitted an application for approval to Pharmaceuticals and Medical Devices Agency (PMDA), Japan’s regulatory agency for pharmaceuticals and medical devices. The company intends to launch Diamondback 360 Coronary OAS Micro Crown in the region and is looking for potential distributors. This would be the company’s first international market entry and the approval procedure is yet to be completed.
Access Research Report of Atherectomy Devices Market @ www.grandviewresearch.com/industry-analysis/atherectomy-device-market
Further Key Findings from the Study Suggest:
- Directional atherectomy devices was the largest segment in terms of revenue in the year 2016. This can be attributed to their capability of collecting the shaved plaque in a collecting space, which reduces the risk of barotrauma, dissection, and neointimal hyperplasia.
- Laser atherectomy devices is expected to the fastest growing segment over the next 8 years. Laser technique is perceived as to have more precision in plaque removal and cause fewer complications. It is also believed to result in lesser incidence of restenosis.
- Geographically, North America held the largest market share in 2015 and is expected to maintain its position during the forecast period. A high prevalence of Peripheral Artery Diseases (PAD) in this region is one of the key reasons for high demand of atherectomy. Almost 8.5 million people suffer from PAD in the U.S., resulting in an annual economic burden of nearly USD 160 million.
- Asia Pacific is anticipated to observe the fastest growth over the coming years. Improving economic conditions leading to increasing prevalence of lifestyle diseases, especially cardiovascular and peripheral, is the key reason for this growth.
- Some of the key industry contributors are Boston Scientific Corporation, Cardiovascular Systems Inc., Medtronic (Covidien), Spectranetics, VOLCANO CORPORATION, Avinger Inc., Bayer AG, Straub Medical AG, ST. JUDE MEDICAL, BARD Peripheral Vascular, Cardinal Health (Cordis), and Terumo IS.
- Type Outlook (Revenue, USD Million; 2014 - 2025)
- Directional atherectomy
- Rotational atherectomy
- Orbital atherectomy
- Laser atherectomy
- Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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