As per the study, the opportunity in the worldwide atherectomy
devices market is estimated to attain a value of US$558.9 mn by 2017.
Further, it is expected to rise at a CAGR of 5.60% over the period
from 2017 to 2022 and reach US$735 mn by the end of the forecast
period.
The report also presents a regional analysis of the global
atherectomy devices market. According to the study, the market is
spread across, Spread across North America, the Middle East and
Africa (MEA), Europe, Asia Pacific excluding Japan (APEJ), and Japan.
Among these, North America has surfaced as the leading regional
market for atherectomy devices across the world. The presence of a
favorable reimbursement scenario has aided this regional market
considerably over the last few years.
Researchers anticipate the North America market for atherectomy
devices to flourish further due to the high number of the U.S. FDA
approved devices. The increasing preference for minimally invasive
procedures among patients and medical practitioners, as well, is also
projected to support this regional market in the long run. Expanding
at a CAGR of 6.0%, this regional market is expected to retain its
dominance during the period of the forecast.
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The demand for directional atherectomy devices is relatively higher
than other devices due to their early inception and high penetration
in the global market. Over the coming years, the trend is anticipated
to remain so on account of the increasing awareness regarding the
benefits of directional atherectomy devices, such as plaque debulking
ability and their availability in numerous sizes, states the research
report.
“The global market for atherectomy devices is highly influenced by
the increasing prevalence of peripheral artery diseases (PAD) across
the world,” says a TMR analyst. The significant rise in the global
geriatric population has added considerably to the number of people
suffering from PAD, which, eventually, is reflecting on the demand
for atherectomy devices, globally. The market is also projected to
gain substantially in the near future from the increasing preference
for minimally invasive surgical procedures, with atherectomy being
one, notes the research study.
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The dynamic situation of the global medical and healthcare industry,
increasing the commercialization as well as approval rate of new
products in various regions, is influencing the business landscape of
the global market for atherectomy devices, finds a new study by
Transparency Market Research (TMR). Hitherto, the leading players,
such as Boston Scientific Corp., Medtronic Plc, Cardiovascular
Systems, Spectranetics Corp., and Avinger Inc., focused on
technological advancements to gain a competitive edge over their
rivals. However, with socio-economic rise in emerging counties, they
are being encourage to shift their focus towards expanding their
business in Asia Pacific excluding Japan. This, as a result, will
result into high degree of competition between players in this market
over the forthcoming years, states the research report.
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