The blood clot retrieval devices market is expected to grow over the forecast period. The sedentary and unhealthy lifestyle is the leading reason for the rise of non-communicable disease clubbed with increase in the frequency of strokes within the population are the major contributors to the growth of the market. Furthermore, rising adoption of minimally invasive surgeries due to less recovery post-surgery, is anticipated to provide growth platform to this market in near future. According to the American Heart Association (AHA), 14.0% of total health expenditures was towards cardiovascular disease and stroke in 2014-15.
The market is segmented by type into aspiration blood retrieval device, mechanical/fragmentation blood clot retrieval device, rheolytic/hydrodynamic blood clot retrieval device, ultrasonic, mechanical/fragmentation blood clot retrieval device. The mechanical/fragmentation segment growth is anticipated to accelerate due to the increase in the importance of second-generation stent retrievers in near future.
Based on application, blood clot retrieval device is segregated into the cardiovascular, neurovascular and peripheral vascular application. Amongst this, the cardiovascular application segment is anticipated to grow due to the rise in the occurrence of cardiovascular and neurovascular patients across the globe.
The end user for this market are hospitals and surgical centers, ambulatory care centers, research laboratories & academic institutes, and others. Hospital and surgical centers accounted for the maximum share as of 2018, due to high patient footfall in hospital surgical centers.
North America is the largest contributor of the regional market because of advanced healthcare infrastructure and favorable reimbursement policies for blood clot retrieval devices. Furthermore, the rise in technological advancement and awareness amongst the healthcare provider is anticipated to provide growth over the forecast period. On the other hand, Asia Pacific region is the anticipated to register fastest growth due to the increase in the acceptance of modern technology for blood clot retrieval surgery.
The major players in the blood clot retrieval devices market are Stryker Corporation, Medtronic PLC, Johnson & Johnson, Terumo Corporation, Boston Scientific Corporation, Spectranetics Corporation, Straub Medical AG, Phenox GmbH and Acandis GmbH & Co. Kg. These key players are flourishing in the market due to constant product development and rise in the acceptance of minimal invasive technology.
In-depth report on global blood clot retrieval devices market by Grand View Research: