Mechanical Thrombectomy Market To Witness A Pronounce Growth During 2017 To 2025
A clot-busting drug called tPA (tissue plasminogen activator) until recently was the only one proven and effective therapy for ischemic strokes. However, with a rise in incidence of ischemic strokes across the globe, a novel treatment option known as mechanical thrombectomy has been made available by medical device companies. Mechanical thrombectomy is a breakthrough treatment for stroke, which removes blood clots from large blood vessels in the brain. The procedure is recommended for patients with acute ischemic strokes occurring due to large artery occlusion in the anterior circulation of the brain.
Mechanical thrombectomy significantly reduces stroke-related disabilities in patients when used in conjunction with tPA and other medical treatments. Rise in demand for minimally invasive surgical procedures and favorable reimbursement policies for cardiovascular and neurovascular procedures are expected to boost demand for mechanical thrombectomy devices during the forecast period. However, lack of awareness about advancements in thrombectomy procedures in emerging countries is projected to restrain the mechanical thrombectomy market during the forecast period.
The global mechanical thrombectomy market can be segmented based on deployment, geography, and end-user. Based on deployment, the global mechanical thrombectomy market can be divided into stent retrievers and suction thrombectomy. Globally, the use of stent retrievers has increased in last five years. Stent retrievers accounted for a significant market share in terms of revenue in 2016 due to rise in investment by key players such as Boston Scientific Corporation and Medtronic in the development of efficient clot removal procedures and diversified distribution of stent retrievers by prominent manufacturers across the globe. Medtronic is one of the leading manufacturers of stent retrievers globally. Stent retrievers is expected to continue to remain a dominant segment throughout the forecast period and is likely to expand at a rapid pace owing to the rise in prevalence of cardiovascular diseases and other thrombotic diseases among the geriatric population. In terms of end-user, the global mechanical thrombectomy market can be classified into hospitals, ambulatory surgical centers, specialty clinics, and others. The hospitals segment accounted for significant revenue in global mechanical thrombectomy market in 2016, owing to improved reimbursement policies for cardiovascular and neurovascular disorders, rise in number of multispecialty hospitals across the globe, and availability of well-qualified and trained health care professionals in developed countries. Increase in demand for vascular recanalization compared to traditional treatment of clot removal is expected to propel the hospitals segment of the global mechanical thrombectomy market during the forecast period.
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In terms of geography, the global mechanical thrombectomy market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America accounted for a dominant market share in 2016, due to the presence of key stent retriever manufacturers in the U.S. Sedentary lifestyle and rise in alcohol intake in North America is leading to increase in prevalence of cardiovascular thrombotic disorders, which, in turn, is boosting demand for mechanical thrombectomy procedures in the U.S. & Canada. Europe is a prominent region of the global mechanical thrombectomy market. Increase in geriatric population in the emerging countries of Asia Pacific, improved adoption rate of minimally invasive surgical procedures, and rise in awareness among interventional cardiologists about technologically advanced thrombectomy procedures in China and India are estimated to drive the mechanical thrombectomy market in Asia Pacific during the forecast period.
Major players in the global mechanical thrombectomy market are Boston Scientific Corporation, Medtronic, Phenox GmbH, Penumbra, Inc., Control Medical Technology, LLC, Teleflex, Stryker Corporation, Abbott Vascular, Chestnut Medical Technologies, Inc., NexGen Medical Systems, and others.
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