SAN FRANCISCO, March 29, 2017 /PRNewswire/ --
The global atherectomy devices market is expected to reach USD 894.69 million by 2025, based on a new report by Grand View Research, Inc. The demand for atherectomy devices market is anticipated to boost over the forecast period due to rapidly rising incidence of target diseases such as peripheral artery disease.
New technologies and product approvals are expected to boost the market for orbital and laser atherectomy devices over the forecast period. For instance, in July 2016, Cardiovascular Systems Inc. submitted an application for approval to Pharmaceuticals and Medical Devices Agency (PMDA), Japan's regulatory agency for pharmaceuticals and medical devices. The company intends to launch Diamondback 360 Coronary OAS Micro Crown in the region and is looking for potential distributors. This would be the company's first international market entry and the approval procedure is yet to be completed.
Browse full research report with TOC on "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" at: http://www.grandviewresearch.com/industry-analysis/atherectomy-device-market
Further Key Findings from the Study Suggest:
- Directional atherectomy devices was the largest segment in terms of revenue in the year 2016. This can be attributed to their capability of collecting the shaved plaque in a collecting space, which reduces the risk of barotrauma, dissection, and neointimal hyperplasia.
- Laser atherectomy devices is expected to the fastest growing segment over the next 8 years. Laser technique is perceived as to have more precision in plaque removal and cause fewer complications. It is also believed to result in lesser incidence of restenosis.
- Geographically, North America held the largest market share in 2015 and is expected to maintain its position during the forecast period. A high prevalence of Peripheral Artery Diseases (PAD) in this region is one of the key reasons for high demand of atherectomy. Almost 8.5 million people suffer from PAD in the U.S., resulting in an annual economic burden of nearly USD 160 million.
- Asia Pacific is anticipated to observe the fastest growth over the coming years. Improving economic conditions leading to increasing prevalence of lifestyle diseases, especially cardiovascular and peripheral, is the key reason for this growth.
- 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.
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Grand View Research has segmented the atherectomy devices market by type and region:
- Atherectomy Devices Type Outlook (Market Revenue in USD Million, 2014 - 2025)
- Directional atherectomy devices
- Rotational atherectomy devices
- Orbital atherectomy devices
- Laser atherectomy devices
- Atherectomy Devices Regional Outlook (Market Revenue in USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- North America
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.