Thrombectomy Devices Market to Surpass US$ 2,227.7 Million by 2027 - Coherent Market Insights

The Global Thrombectomy Devices Market, by Product Type (Mechanical Thrombectomy Devices, Aspiration Thrombectomy Devices, Hydrodynamic Thrombectomy Devices, and Ultrasonic Thrombectomy Devices), by Application (Deep Vein Thrombosis (DVT), Pulmonary Embolism (PE), Superficial Vein Thrombosis, Renal Vein Thrombosis (RVT), Arterial Thrombosis (Atherothrombosis), Ischemic Stroke, Others), by End User (Hospitals, Ambulatory Surgical Centers, Academic and Research Institutes, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 1,371.6 Million in 2020, and is projected to exhibit a CAGR of 7.2% during the forecast period (2020 – 2027)

The increasing rate of strokes in major economies of Asia Pacific such as China, India, Australia, and others and increasing healthcare awareness and expenditure in these economies are expected to create potential growth opportunities for thrombectomy devices market players. For instance, according to the data published by National Centre for Biotechnology Information in 2017, in China, around 2.4 million people have a stroke each year and around 75% are living with varying degrees of disability from stroke. Moreover, according to a report published by Stroke Alliance for Europe (SAFE) in 2017, incidence of stroke is expected to increase by 34% in Europe during 2015-2035 and number of people living with stroke as a chronic condition is expected to increase by around 25% between 2015 and 2035 from 3,718,785 million in 2015 to 4,631,050 in 2035.

Global Thrombectomy Devices Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic has negatively affected various industries globally. The players operating in the global thrombectomy devices market are facing major challenges on various fronts due to the COVID-19 pandemic. For instance, according to Saudi Association of Neurological Surgery guidelines 2020, the surgical procedures including (brain and spine surgeries) should be delayed to avoid the spread of COVID-19 infection, except the life-threating situation such as ruptured cerebral aneurysm or dual fistulas that should be treated with embolization procedures due its short operating time in hospitals and ambulatory care centers. During the pandemic, almost all elective operations have been deferred or even stopped because of the need for SARS-CoV-2 infection prevention and relocation of limited medical resources. Emergency surgeries such as endovascular thrombectomy (EVT) for acute ischemic stroke (AIS) must be performed without any delay even during the pandemic, in order to rescue important functions and save lives. However, the impact of the pandemic may be inevitable, because the hospitals have to take the necessary measures to prevent further spread of SARS-CoV-2 among medical personnel and patients.

Browse 211 Market Data Tables and 79 Figures spread through 419 Pages and in-depth TOC on “Global Thrombectomy Devices Market”-  Forecast to 2027, Global Thrombectomy Devices Market, by Product Type (Mechanical Thrombectomy Devices, Aspiration Thrombectomy Devices, Hydrodynamic Thrombectomy Devices, and Ultrasonic Thrombectomy Devices), by Application (Deep Vein Thrombosis (DVT), Pulmonary Embolism (PE), Superficial Vein Thrombosis, Renal Vein Thrombosis (RVT), Arterial Thrombosis (Atherothrombosis), Ischemic Stroke, Others), by End User (Hospitals, Ambulatory Surgical Centers, Academic and Research Institutes, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

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The key players operating in the market are focusing on increasing launches of new products and regulatory approvals for thrombectomy devices, are expected to propel the growth of the global thrombectomy devices market over the forecast period. For instance, in September 2020, CERENOVUS, a part of Johnson & Johnson medical devices companies, announced that it had launched CERENOVUS Stroke Solutions, which include a suite of three devices such as CEREBASE DA Guide Sheath, CERENOVUS Large Bore Catheter, and EMBOTRAP III Revascularization Device, which are designed to help physicians to perform mechanical thrombectomy procedures.

Key Takeaways of the Global Thrombectomy devices Market:

• The global thrombectomy devices market is expected to exhibit a CAGR of 7.2% during the forecast period, owing to the rising demand for minimally invasive thrombectomy procedure and increasing product approvals and launches. For instance, in September 2018, Penumbra, Inc., a global healthcare company focused on innovative therapies, launched advanced technology: Penumbra JET 7 and Penumbra JET D Reperfusion Catheters powered by the Penumbra ENGINE aspiration source in the U.S. All are part of the fully integrated Penumbra System that utilizes aspiration-based mechanical thrombectomy for stroke revascularization.
• Among product type, aspiration thrombectomy devices segment in the global thrombectomy devices market is estimated to be valued at US$ 764.2 Million in 2020, and is expected to witness a CAGR of 7.4% and reach US$ 1,260.3 Million during the forecast period. For instance, in 2016, Penumbra announced the U.S. launch of the Ace68 Reperfusion thrombectomy catheter designed for extracting thrombus in acute ischemic stroke patients.
• Among end user, hospitals segment is estimated to be valued at US$ 960.2 Million in 2020, and is expected to witness a CAGR of 7.5% and reach US$ 1,590.0 Million by 2027. There is a significant increase in prevalence of ischemic stroke, deep vein thrombosis, and pulmonary embolism worldwide, and this in turn is expected to boost growth of the hospitals segment in the market. According to the American Heart Association report 2019, global prevalence of stroke in 2019 was 101.5 million people, whereas that of ischemic stroke was 77.2 million.
• Major players operating in the global thrombectomy devices market include LeMaitre Vascular, Inc., Boston Scientific Corporation, Control Medical Technology, Edwards Lifesciences Corporation, Johnson & Johnson, Medtronic Plc., Merit Medical Systems, Inc., Stryker Corporation, Terumo Corporation, Penumbra, Inc., Argon Medical Devices, Teleflex Incorporated, and Vetex Medical Ltd.