Atherectomy Devices Market Report

Atherectomy Devices Market Analysis By Type (Directional Atherectomy, Rotational Atherectomy, Orbital Atherectomy, Laser Atherectomy), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2014 - 2025

Published: March 2017  |  95 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-416-1

Industry Insights

The global atherectomy devices market size was valued at USD 488.04 million in 2016 and is projected to grow with CAGR of 6.97% over the forecast period. The rising prevalence of target diseases is the key driver of the market. More than 250 million people worldwide suffer from peripheral artery disease (PAD), which also includes low-income countries to some extent. The prevalence of PAD increased by 24% between 2000 to 2010 and continues to grow at an exponential rate. Both high- and low-income countries have this prevalence. Low-income countries witnessed a growth of 29%, while high-income countries witnessed a growth of 13% in the last decade.

The demand for minimally invasive procedures/surgeries (MIS) is on a rise. These procedures result in fewer traumas to the patient and quicker recovery than invasive procedures. An additional reason for this shift is the possibilities of occurrence of infection with invasive surgeries. Atherectomy is a minimally invasive procedure, therefore, the rising demand for minimally invasive surgeries will render as a high impact driver for market during the forecast period.

U.S. atherectomy market by type, 2014 - 2025 (USD Million)

U.S. atherectomy market

The industry is also witnessing dynamic merger and acquisition activities. For instance, In August 2014, Boston Scientific Corporation acquired the interventional division of Bayer AG for USD 414 million. With the acquisition, the company expanded its portfolio to treat vascular conditions such as peripheral atherectomy and thrombectomy.

Type Insights

Directional, rotational, orbital, and laser atherectomy devices are the key types of segments analyzed in this study. The directional atherectomy devices dominated the market in 2016 due to its early inception and penetration in the market. In addition, it has advantages such as availability in various sizes and ability of plaque debulking

Various clinical trials to prove the efficacy of the device also contribute to the high demand. Trials such as DEFINITIVE LE (determination of effectiveness of the SilverHawk peripheral plaque excision system for infrainguinal vessels/lower extremities treatment) and EASE (Endovascular Atherectomy Safety and Effectiveness) displayed success rate of more than 90% assuring the effectiveness of the concerned devices.

Rotational atherectomy devices also have a substantial share in the market. Almost 96% cases do not need clinical assistance up to 9 months after the procedure. This is anticipated to provide advantage to rotational devices and grow its market share over the next 8 years.

Reimbursement scenario is also favorable for atherectomy contributing to its growth. In October 2014, the Centers for Medicare and Medicaid Services made some changes in the outpatient reimbursement scenario. The reimbursements rates were increased by an average of 9%.

Regional Insights

North America dominated by market share in 2016. Suitable reimbursement scenario and a high number of FDA approved devices are the key reasons for this dominance. For instance, in October 2015, Avinger, Inc. received 510(k) clearance from the FDA for Pantheris Image-Guided Atherectomy System. The clearance allowed commercialization of the product in the U.S.

A strong preference to minimally invasive procedures is observed in the region. Since 2006, the rate of bypass surgeries has decreased by 43%, whereas rate of endovascular procedures has increased by manifold times. This also has reflected in the rate of amputations, which fell by almost 28% over the past few years.

Asia Pacific is anticipated to observe the fastest growth over the coming 8 years. Factors like socioeconomic changes, unhealthy diet, smoking, consumption of alcohol, and aging population have resulted in increase in target diseases. Around 97 million people were affected by PAD in 2015 in the region. This number is estimated to reach 111 million by 2019. This indicates the huge scope for market expansion in the region.

Global atherectomy devices market share, by geography, 2016 (%)

Global atherectomy market

Competitive Insights

The healthcare industry is witnessing dynamic activities in the form of new product approvals and increasing commercialization in various geographical locations. For instance, in November 2016, Cardiovascular Systems, Inc. signed an agreement with Medikit Co., Ltd. to distribute its two products Peripheral Orbital Atherectomy Systems (OAS) and Diamondback 360 Coronary, which gives the former company access to the 120 sales representatives distributing across more than 800 hospitals in Japan. This geographical expansion was affected after the company submitted an application for approval to the Pharmaceuticals and Medical Devices Agency (PMDA), Japan’s regulatory agency for pharmaceuticals and medical devices, in July 2016. The regulatory body approved the devices in mere 4 months, which is much faster than the regulatory systems of other countries.

Some of the key industry contributors are Boston Scientific Corporation, Cardiovascular Systems Inc., Medtronic (Covidien), Spectranetics, VOLCANO CORPORATION, Avinger Inc., Bayer AG, Straub Medical AG, ST. JUDE MEDICAL, BARD Peripheral Vascular, Cardinal Health (Cordis), and Terumo IS.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America,& MEA

Country scope

U.S., Canada, UK, Germany, Japan, China, Brazil, & South Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors & trends

15% free customization scope (equivalent to 5 analyst working days)

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Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the atherectomy devices market on the basis of type and region:

  • Type Outlook (Revenue, USD Million; 2014 - 2025)

    • Directional atherectomy

    • Rotational atherectomy

    • Orbital atherectomy

    • Laser atherectomy

  • Regional Outlook (Revenue, USD Million; 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

    • Asia Pacific

      • China

      • Japan

    • Latin America

      • Brazil

    • MEA

      • South Africa

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