The global Atherectomy market was valued at USD 1.30 Billion in 2023 and is expected to reach USD 2.01 Billion by the year 2032, at a CAGR of 6.4%. Rising incidence of cardiovascular diseases and peripheral artery diseases, increasing demand for minimally invasive surgical procedures and unhealthy lifestyle are the key factors that have paved for the robust growth of the global Atherectomy market.
Atherectomy surgical procedures have seen a consistent rise in the past two decades. The procedure is specifically designed to treat narrowing in arteries caused by peripheral artery diseases. It is a frequently opted alternative to Angioplasty. The surgery is not too costly either making it an apt alternative to angioplasty. The high prevalence of the cardiovascular diseases and the peripheral artery diseases are the primary factors that have contributed to the growth of the market.
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The WHO estimates that the cardiovascular diseases are the leading cause of morbidity across the globe causing 17.9 million deaths each year. These inflated numbers are a result of adopting an unhealthy lifestyle. The working age population today has a predominantly sedentary lifestyle and high intake of junk food. The excessive stress levels along with lack of exercise have impaired the youth causing widespread heart diseases and subsequently propelling the market growth. Furthermore, the increasing awareness of the minimally invasive surgical procedures has steered the demand for Atherectomy procedures facilitating faster recovery of the patients’ post-operation. The rapid developments in the healthcare sector along with the increasing investments in the Research and Development activities have led to the innovation of advanced surgical devices which have played instrumental role in enhancing precision and efficiency while ensuring time and cost optimization. Through the technological developments, it has become easier to adopt the robotic technology and the AI technology in the medical field. These technologies reduced the risk of human error in surgeries and are increasingly demanded in the healthcare facilities globally. Thus, all of these factors are expected to bolster the market growth substantially over the forecast period.
Type Outlook:
On the basis of Type, the market is segmented into Excisional, Transluminal, Laser, Rotational, Orbital and Others. The Excisional segment accounted for the largest market share of 30.8% in 2019.
The Excisional or the Directional Atherectomy is an efficacious minimally invasive surgical procedure for the removal of plaque blockages in the arteries in order to facilitate increased blood flow from heart and subsequently reducing the pain caused by these blockages. The blockages are removed with the help of the cutter of the catheter inserted in the artery. The excisional Atherectomy proves to be beneficial during the treatment of eccentric lesions. The excessive plaque volume is removed only through multiple passes. Furthermore, the Directional Atherectomy is advantageous due to the lack of barotrauma. It leads to a significant reduction in the risk of ‘Neointimal Hyperplasia’ along with dissection. The TurboHawk plaque excision system and the SilverHawk plaque excision systems are the only two devices approved by the U.S food and Drug Administration for the directional Atherectomy procedures. These devices are approved only for the treatment of peripheral artery.
Application Outlook:
The Application based segmentation of the global Atherectomy market encompasses Peripheral Artery Diseases, Coronary Artery Diseases and Neurovascular Diseases. The Peripheral Artery Disease segment accounted for the largest market share of 42.8% in 2019 while the Coronary Artery Disease segment is expected to register the fastest growth over the forecast period.
The Atherectomy procedure is most widely used in the treatment of Peripheral Artery diseases and Coronary artery diseases owing to the immediate benefits from the surgery and the favourable reimbursement policies. The procedure is performed in conjunct with the angioplasty procedures. The healthcare practitioners prefer using laser system for the treatment of PAD.
Regional Outlook:
North America accounted for the largest market share of 32.9% in 2019. The region has an extremely advanced healthcare sector which engages itself in continuous Research and development activities for innovative product launches. The region serves to be the headquarters for a plethora of key industrial players operating in the market. In the countries such U.S and Canada, which are the epicentres of the market development, have high incidence rate of cardiovascular diseases as well as peripheral artery diseases, consequently leading to an escalating demand for novel as well as effective Atherectomy devices. Furthermore, the rapidly changing medical industry due to increasing investments in the sector contributes substantially to the market growth.
The Asia pacific regional market is projected to register the fastest growth rate by 2027. The region has showing promising developments across the healthcare and medical industries in the past few years. The rapid healthcare infrastructural developments, increasing technological developments and the expansion of the R&D activities in the region have contributed to the robust growth of the regional market. The countries such as India and China have untapped potential which is further expected to drive the developments in the regional market. Thus, all of these factors are expected to stimulate the market growth substantially.
Market-O-Nomics
- The global Atherectomy market was valued at USD 1.30 Billion in 2020 and is expected to reach USD 2.01 Billion by the year 2032, at a CAGR of 6.4%.
- Excisional or Directional Atherectomy dominates the market with the largest market share of around 30.8% and is also expected to register the highest CAGR of 6.9% owing to its technologically advanced nature. This is followed by Rotational Atherectomy type segment with a market share of 25.9% with a CAGR of 6.4%
- The Peripheral Artery Disease dominates the market for treatment due to the rise in the cases of PAD.
- Cardiac Catheterization Labs dominate the end user segment with a market share of 32.4%, owing to the advanced healthcare facilities and specialisation provided in these labs.
- Minimal invasiveness has been attracting the attention of many in the recent times. Since Atherectomy is one of the major types of minimal intrusive treatments, there has been a spur of growth in the demand for this procedure. Increasing cases of peripheral artery diseases and coronary artery diseases, has triggered research and development initiatives to develop several innovative solutions for the treatment purposes, which lays a foundation for future growth.
- North America dominates the market with the largest market share due to the continuous technological advancements and research and development for developing better and more efficient devices for the procedure. North America is expected to register a CAGR of 6.5%
Companies considered and profiled in this market study
Phillips Healthcare, Bayer AG, BARD Peripheral Vascular Inc., Boston Scientific, Medtronics, Cardiovascular Systems Inc. and Avinger Inc. have been profiled in the report.
The players operating in the market have undertaken a number of strategies related to the market in the period 2017-2022. The key highlight is:
- In March 2022, Straub Medical LLC announced the launch of its Rotarex S Atherectomy device. It further announced the use of this device for the treatment of ‘Occlusive Peripheral Vascular Disease’ for the first time. Starub Medical LLC company has been engaging itself for the promotion of Rotarex S Atherectomy device in the countries except for the U.S for over 20 years.
- A clinical trial of Medtronic’s Axys EX Rotational Atherectomy System is scheduled to be started in December 2021 for assessing its efficacy and safety to be used for the treatment of PAD.
Start-up Traction
The industry offers numerous growth opportunities. Thus, a number of start-ups providing innovative Equipments and technologies have been entering the market. Some of them include AngioDynmaics, Eximo Medical, Intact Vascular, and ev3 Endovascular among others.
Deals Landscape
Mergers and Acquisitions are an integral part of the Atherectomy industry. Along with the companies operating in the market, other key market players have also been entering the industry.
- In June 2022, Royal Phillips announced that it has entered a strategic partnership agreement for a period of 10 years with Flevo Hospitals. The agreement comes from the core idea of encouraging continuous innovation and patient care optimization in Netherlands.
Expert Insights:
Reports and Data forecast a rapid growth of the global Atherectomy market over the forecast period. Rising incidence of cardiovascular diseases and peripheral artery diseases, increasing demand for minimally invasive surgical procedures and unhealthy lifestyle are the key factors that have paved for the robust growth of the global Atherectomy market. The industrial experts believe that the extensive R&D activities in the healthcare industry is likely to give a thrust to the market growth.
Segments Covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2023 to 2032. The scope of the report can be defined as:
For the purpose of this report, have segmented the global Atherectomy Market on the basis of Equipment, Application, Sales Channel, and region:
Type Outlook (Revenue, USD Billion; 2023-2032)
- Excisional
- Transluminal
- Laser
- Rotational
- Orbital
- Other
Application Outlook (Revenue, USD Billion; 2023-2032)
- Peripheral Artery Diseases
- Coronary Artery Disease
- Neurovascular Disease
End-Use Outlook (Revenue, USD Billion; 2023-2032)
- Hospitals
- Ambulatory Care Centres
- Medical Research Institutes
- Cardiac Catherization Lab
- Other
Regional Outlook (Revenue, USD Billion; 2023-2032)
- North America
- U.S
- Canada
- Europe
- U.K
- France
- Germany
- Italy
- Spain
- Denmark
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Middle East and Africa
- Latin America
- Brazil
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