A fresh commerce and business intelligence study by Transparency
Market Research (TMR) detects the global atherectomy devices market
to be intensely competitive with the presence of several big shot
players. The dominance of the leading players, namely Boston
Scientific Corp., Medtronic Plc, Terumo Corp., Royal Philips NV,
Cardiovascular Systems Inc., Spectranetics Corp., and Avinger Inc. is
mainly because of their vast geographical presence and financial
might. The leading players also have an extensive product portfolio
that helps them sustain the competition.
In the years ahead, competition in the atherectomy devices market is
likely to further intensify. Leading players in the market are
engaged in R&D to introduce newer products in order to steal a
march over their competitors. Mergers and acquisitions is another
noticeable trend observed in this market. For example, in August
2014, Boston Scientific Corporation acquired the interventional unit
of Bayer AG leading to the expanded portfolio of the former to serve
to treat vascular conditions.
According to the TMR report, the demand is likely to increment at a
CAGR of 5.60% vis-à-vis value during the forecast period from 2017
to 2022. At this pace, the demand in the global atherectomy devices
market will translate into a revenue of US$735 mn by the end of 2022
from US$558.9 mn in 2017. Based on device type, directional
atherectomy devices account for the leading demand due to several
advantages such as ability of plaque debulking and availability in
several sizes. Among the various end users, hospitals have been
reporting a relatively higher demand for atherectomy devices. North
America holds supremacy among other key regions for atherectomy
devices due to a high number of devices to have received approval of
U.S. FDA and favorable reimbursement policies.
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The rising prevalence of peripheral artery diseases (PAD) is having a
significant impact on the global atherectomy devices market. Across
the world, more than 250 million individuals suffer from PAD. Between
the period 2000 and 2010, the prevalence of PAD increased by 24% and
continues to rise at a significantly high rate, leading to a surging
demand for atherectomy devices. The prevalence of target diseases is
witnessed in both developed and developing countries. The growing
geriatric population globally has significantly added to the number
of individuals suffering from PAD, which in turn, has stoked the
demand for atherectomy devices.
Apart from this, increasing preference for minimally invasive
procedure is also projected to favor the atherectomy devices market.
Atherectomy being a minimally invasive procedure is increasingly
being preferred over angioplasty to widen narrowed arteries.
Minimally invasive procedures result in fewer traumas and faster
recovery for patients.
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Substantial research and development pursuits by market players
leading to the introduction and commercialization of novel products
is also favoring this market. The expanding distribution channels as
well as strengthening of existing distribution channels is also
fuelling the atherectomy devices market.
On the other hand, however, limited patient awareness for diagnosis
of peripheral coronary diseases, stringent regulations, and lack of
skilled and well-trained medical experts is holding back the market’s
growth. Proving to serve the atherectomy devices market is increasing
research activities and rising healthcare expenditure generally in
emerging economies.
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