Clot Management Devices Market Size, Share & Trends Analysis Report By Product (Neurovascular Embolectomy Devices, Embolectomy Balloon Catheters, Percutaneous Thrombectomy Devices), By End User, And Segment Forecasts, 2018 - 2024

Industry Insights

The global clot management devices market was valued at USD 1.26 billion in 2015 and is projected to grow at a CAGR of 4.6% over the forecast period. The market is expected to expand as a result of rising coronary heart diseases, periphery arterial diseases, stroke, and venous thromboembolism. The growing elderly population, which is at a higher risk to develop such diseases, also contributes to the growth.

The growing demand for effective thrombectomy/embolectomy devices and rising awareness regarding newer approaches for clot management are anticipated to boost the market in the coming years. Moreover, the growing awareness amongst the patients and healthcare professionals regarding the benefits of using percutaneous thrombectomy devices over the traditional procedure of clot removal through open surgery is one of the crucial factors impelling the growth.

Clot management devices, by product, 2013 - 2024 (USD Million)

Stroke is amongst the leading cause of disabilities and is the fifth leading cause of death in the U.S. according to the CDC. Each year around 130,000 of the U.S. population dies due to stroke. Ischemic stroke accounts for about 87% of the cases and occurs when the blood flow to the brain is blocked. Changing lifestyle, lack of physical exercise, high blood pressure, cholesterol, and smoking are some of the major factors causing a stroke.

Furthermore, the U.S. FDA approval for marketing of the clot retrieval systems as initial therapy for stroke is expected to drive the industry growth. For instance, Trevo, a clot retrieval device manufactured by the Concentric Medical, Inc. is a clot removal device and has received FDA approval for marginalizing the disability associated with stroke.

Product Insights

The key products analyzed in the study include neurovascular embolectomy devices, embolectomy balloon catheters/clot management catheter, percutaneous thrombectomy devices, Catheter-directed Thrombolysis (CDT) devices, and Inferior Vena Cava Filters (IVCF).

In 2015, percutaneous thrombectomy accounted for the maximum share of over 35%. Some of the key products in this segment include Amplatz thrombectomy device, the Trellis device, Trerotola device, the AngioJet device, and others.

The neurovascular embolectomy segment is expected to register the fastest CAGR of 6.2% over the forecast period. The continuous investments in research and development, increasing demand for cost-effective devices, and improvement in patient health outcomes are expected to drive this segment over the forecast period.

End-User Insights

The end-user segmentation includes hospitals and diagnostic centers. In 2015, hospitals were the largest segment with a share of over 80%. The clot removal procedures entail high risk for patients. In the majority of the stroke cases, the patients are referred to the emergency services or critical care units as these units are thoroughly equipped with the infrastructure required for high-tech surgeries. Moreover, the reimbursement criteria for a patient who is treated in the hospital’s emergency unit varies from the criteria in other departments, such as asambulatory, and diagnostic centers.

Clot management devices market by region, 2015 (USD Million)

However, diagnostic centers are expected to grow with a high CAGR of 4.9% over the forecast period. The growing demand to reduce hospital expenses and to reduce waiting time for low-risk clot removal procedures is expected to drive the industry over the forecast period.

Regional Insights

North America held the majority share of over 60% in 2015. The high prevalence of cardiovascular and peripheral diseases, growing geriatric population, presence of well-developed reimbursement framework are the key factors contributing to the high share of this region. In addition, growth in the number of people exposed to risk factors, such as smoking, alcohol consumption, substance abuse, obesity, is expected to positively reinforce the growth over the forecast period.

Asia Pacific is expected to be the fastest-growing region with a CAGR of 5.7% over the forecast period. Countries such as India and China are witnessing high growth in obesity, diabetes, and cardiovascular diseases due to change in lifestyle, demographic factors, and an increase in disposable income. The growing prevalence of target diseases coupled with improvement in healthcare infrastructure and introduction of technologically advanced products are expected to drive the demand for clot management devices over the forecast period.

Clot Management Devices Market Share Insights

Some of the key industry players are Medtronic; Boston Scientific Corporation; iVascular; Teleflex; Edwards Lifesciences; LeMaitre Vascular; Vascular Solutions, Inc.; Straub Medical; and others. The factors such as technological advancements, investment in research & development, and compliance with the regulatory policies are constantly driving the introduction of new clot management devices and techniques The clot management market is a high-risk segment and the huge costs of clinical trials, new product development, and marketing activities are expected to act as entry barriers for the industry.

Report Scope

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Segments Covered in the Report

This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the global clot management devices market on the basis of product, end-use, and region:

• Product Outlook (Revenue, USD Million; 2013 - 2024)

  • Neurovascular Embolectomy Devices

  • Embolectomy Balloon Catheters

  • Percutaneous Thrombectomy Devices

  • Catheter-Directed Thrombolysis (CDT) devices

  • Inferior vena cava filters (IVCF)

• End-User Outlook (Revenue, USD Million; 2013 - 2024)

  • Hospitals

  • Diagnostic Centers

• Regional Outlook (Revenue, USD Million; 2013 - 2024)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

  • Asia Pacific

    • China

    • Japan

  • Latin America

    • Mexico

    • Brazil

  • MEA

    • South Africa