Atherectomy devices: Key market research findings
- Favorable reimbursement scenario drives market growth
- Increasing focus on the development of products for minimally invasive endovascular procedures
- Key vendors – Boston Scientific, Cardiovascular Systems, Medtronic, and Spectranetics
Technavio’s market research analysts predict the global market for atherectomy devices to grow at a CAGR of around 6% between 2016 and 2020. The growth of the market is augmented by the availability of favorable reimbursement policies. Reimbursements for atherectomy devices have undergone an increase in cost covered when compared with previous years. In the US, Medicare categorizes atherectomy and associated devices under Level III APC 0319. During 2015, the Americas dominated the global atherectomy devices market by accounting for more than 56% of the overall market share, with the US being the leading contributor. The rise in peripheral artery disease cases coupled with an increase in the number of people aged 60 and above will contribute to the growth of the atherectomy devices market in the Americas by 2020.
The new market research report from Technavio presents a breakdown and analysis of the atherectomy device segments based on the technology.
“Of late, there has been a rise in the demand for minimally invasive endovascular surgeries. Physicians use invasive and minimally invasive endovascular procedures to treat peripheral artery disease. Minimally invasive procedures are proven to be safe and efficient and can reduce the need for blood transfusions, risks of infections, and hospital stays. Vendors in the market are now focusing on developing products for use during minimally invasive endovascular procedures,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
Laser atherectomy procedure involves the use of elastic fiber optic catheters that produce photoablation for removing atherosclerotic plaque. Laser atherectomy devices generate kinetic energy that cuts chemical bonds at a molecular level and removes intracellular water without injuring neighboring tissues to decrease restenosis. The procedure helps treat long occlusions and complex disease successfully to provide an improved angiographic outcome with limited distal embolization and need for stenting.
The key vendors in the global atherectomy devices market include Boston Scientific, Cardiovascular Systems, Medtronic, and Spectranetics. The global atherectomy devices market is a consolidated market and is characterized by the presence of a few large vendors. The vendors in the market are implementing various strategies to expand their geographical presence and increase their market shares. Also, they are extensively investing in research to develop safe and efficient products and gain regulatory approvals for their launch in the market. To survive in this market, some vendors are also undertaking the concept of premium pricing to sell their products.
A more detailed analysis is available in the Technavio report, Global Atherectomy Device Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
