Thrombectomy Devices Market Is Projected to Increment at a Healthy CAGR of 6.1% During 2017 to 2022
Albany, NY -- (SBWire) -- 10/11/2018 --The global thrombectomy devices market is considered as a fragmented market, thanks to the presence of a copious number of local as well as global players, states a new market research study by Transparency Market Research. The competition among the leading players is expected to get intense in the coming few years. These players are focusing on the expansion of the product portfolio and the research and development activities, which is likely to support the overall growth of the market in the coming years. Moreover, the rising number of mergers and acquisitions and strategic alliances is predicted to enhance the market growth in the near future. Some of the key players that are operating in the thrombectomy devices market across the globe are Boston Scientific Corporation, BTG International Ltd., Spectranetics Corporation, Terumo Corporation, Teleflex, Medtronic plc, Johnson & Johnson, and Argon Medical Devices Inc.
As per the market research study by Transparency Market Research, in 2017, the global market for thrombectomy devices was worth US$1,470.6 mn and is projected to reach a value of US$1,974.5 mn by the end of year 2022. The market is likely to register a healthy 6.1% CAGR between 2017 and 2022.
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Well-developed Healthcare Infrastructure to Drive North America Market
From a regional perspective, North America is expected to hold a large share of the global thrombectomy devices market in the next few years. The rising contribution from the U.S. and the increasing adoption of technologically advanced devices are the key factors that are predicted to accelerate the growth of the market in the next few years. In addition to this, the development of the healthcare infrastructure and the favorable reimbursement policies are further expected to support the growth of this region in the near future. On the other hand, Asia Pacific is estimated to witness a promising growth in the coming few years, owing to the rising healthcare expenditure in developing economies, such as Japan, China, and India. Moreover, the rising awareness among surgeons regarding the benefits that are offered by these devices, which is estimated to enhance the growth of the market in the coming few years.
In terms of product, the global market for thrombectomy devices has be categorized into mechanical, ultrasonic, aspiration, and hydrodynamic. In the last few years, the aspiration thrombectomy devices segment led the market and is projected to remain in the similar position in the coming few years. As per the research study, this segment is projected to register a healthy 4.4% CAGR between 2017 and 2022. The rising number of applications is expected to enhance the growth of this segment in the next few years.
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Research and Development Activities to Encourage Market Growth
The rising healthcare expenditure, rising target patient population, and the increasing technological advancements are considered as the key factors that are estimated to enhance the growth of the global thrombectomy devices market in the next few years. In addition to this, the favorable medical reimbursement and the increasing demand for minimally invasive thrombectomy procedures are projected to accelerate the growth of the market in the near future. On the flip side, the low patient awareness and the stringent regulatory environment are predicted to hamper the growth of the market in the coming years. Nonetheless, the rising number of research and development activities in this field and the rising number of applications are expected to offer potential growth opportunities for the market players in the next few years.
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