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Coronary Atherectomy Devices Global Market Report 2021: COVID 19 Growth And Change to 2030

Coronary Atherectomy Devices Global Market Report 2021: COVID 19 Growth And Change to 2030

  • May 2021
  • 175 pages
  • ID: 6071080
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the coronary atherectomy devices market are Boston Scientific, Philips, Cardiovascular Systems, Spectranetics, Medtronic, Avinger, BIOTRONIK, Arterial Remodeling Technologies, Atrium Medical, and B. Braun Melsungen.

The global coronary atherectomy devices market is expected to grow from $0.173 billion in 2020 to $0.185 billion in 2021 at a compound annual growth rate (CAGR) of 6.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $0.242 billion in 2025 at a CAGR of 7%.

The coronary atherectomy devices market consists of sales of coronary atherectomy devices and related services by entities (organizations, sole traders and partnerships) that manufacture coronary atherectomy devices.Coronary atherectomy devices are used to remove atherosclerosis from coronary blood vessels.

Only goods and services traded between entities or sold to end consumers are included.

Large coronary atherectomy equipment market manufacturers are strategically partnering and collaborating with start-ups and mid-sized companies to broaden products and services.For instance, in July 2018, Cardiovascular Systems signed an agreement with OrbusNeich for selling its coronary and peripheral Orbital Atherectomy Systems (OAS) in other countries.

In the same month, the company collaborated with Aerolase Corporation for developing a new laser atherectomy device for physicians, which can be used more effectively in the treatment of multiple forms of arterial disease.

The coronary atherectomy devices market covered in this report is segmented by product into directional atherectomy devices; orbital atherectomy devices; photo-ablative atherectomy devices; rotational atherectomy devices; others, and by end user into hospitals and surgical centers; ambulatory care centers; research laboratories and academic institutes.

In May 2019, Cardiovascular Systems, Inc. acquired the WIRION Embolic Protection System and its related assets from Gardia Medical for $5.6 million. The WIRION System has higher adaptability than other available embolic protection systems because it can be used with any .014" guidewire and for all types of peripheral interventions. Also, the WIRION System is the only embolic protection device indicated for use with any atherectomy system. Gardia Medical Ltd is an Israel-based medical device company that produces specialized catheter-based delivery systems to deliver, lock, and use devices on any guidewire.

The increasing prevalence of cardiovascular diseases (CVDs) has resulted in an increased demand for atherectomy devices for the treatment of CVDs.The increased prevalence of cardiovascular diseases can be attributed to the use of smoking, physical inactivity, and unhealthy diet.

For instance, according to the World Health Organization, in 2019, 17.9 million people die from CVDs worldwide every year. It is a group of disorders of the heart and blood vessels and includes cerebrovascular disease, rheumatic heart disease, coronary heart disease, and other conditions. According to the British Heart Foundation, 2020, Coronary Heart Disease is responsible for around 64,000 deaths in the UK each year, an average of 180 people each day, or one death around every eight minutes. One in seven men and one in twelve women in the United Kingdom die from coronary heart disease. Therefore, increasing the prevalence of cardiovascular diseases is expected to drive the growth of the global coronary atherectomy devices market.

During the forecast period, the long approval processes for medical devices is expected to restrain the growth of the coronary atherectomy devices market.Regulatory bodies have imposed strict labeling requirements, pre-market approval, and medical device reporting and the launching of products.

These devices fall under the Class II category and are considered to be highly risky. Therefore, stringent government regulations may hamper the growth of coronary atherectomy devices market.

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