Demand in the global thrombectomy devices is projected to increment at a healthy CAGR of 6.1% during the forecast period of 2017 to 2022, gaining traction from a number of other factors such as favorable medical reimbursement policies in the developed countries, growing preference of minimally invasive procedures and more.
Albany, NY -- (SBWIRE) -- 10/13/2017 -- The global thrombectomy devices market is likely to grow at over 6% CAGR during the period 2017-2022, according to a new research report added to the comprehensive database of Market Research Hub (MRH). Global revenues are projected to reach nearly US$ 2 bn in revenues, according to the report, "Thrombectomy Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022".
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According to the report, the global thrombectomy devices market remains largely fragmented, with a number of players accounting for small revenue shares. On account of these factors, there is fierce competition in the market, with pricing pressures leading to a significant reduction in profit margins.
The key companies profiled in the report include Argon Medical Devices Inc., BTG International Ltd., Medtronic PLC, Boston Scientific Corporation, Terumo Corporation, Edwards Lifesciences Corporation, Johnson & Johnson, Penumbra, Inc., Phenox GmbH, Spectranetics Corporation, and Teleflex Incorporatedde.
Thrombectomy devices account for the highest demand among all the product types, and the trend is anticipated to continue during the forecast period. According to the report, this device type segment accounted for nearly 29% revenue share of the market in 2017, and the revenue share will continue to be steady throughout the forecast period.
North America is the most lucrative market for thrombectomy devices, and it is highly likely that the region will continue to remain attractive for manufacturers during the forecast period. The thrombectomy market in North America is largely concentrated in the U.S., where spending on healthcare and higher level of awareness are key growth factors.
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Demand for thrombectomy devices will also be impacted by the prevalence of cardiovascular diseases in a region. According to the report, use of thrombectomy devices to remove blood clots is anticipated to boost their adoption globally.
In a bid to give readers detailed insights on the market, the report has segmented the global thrombectomy devices market on the basis of a number of parameters. Segmentation is useful in building a detailed picture of the market, helping readers understand the market scenario and helping them know where the next level of opportunities can emerge.
On the basis of product type, the market has been segmented into aspiration, hydrodynamic, ultrasonic, and mechanical. Currently, demand for aspiration thrombectomy devices is the highest, and this trend is likely to continue throughout the forecast period. In terms of growth, this segment is likely to grow at over 4% CAGR through 2022.
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