What Is The Current and Historic Market Size Analysis Of The Coronary Atherectomy Devices Market?
The coronary atherectomy devices market has seen considerable growth due to a variety of factors.
• The market size for coronary atherectomy devices has seen significant growth in the recent past. It is projected to climb from $0.21 billion in 2024 to $0.23 billion in 2025, with a compound annual growth rate (CAGR) of 9.5%.
The expansion during this historic period can be linked to an increased incidence of coronary artery disease, a growing preference for minimally invasive operations, demand for coronary atherectomy machines, and a surge in disposable income.
What Is The Forecast For The Coronary Atherectomy Devices Market Size?
The coronary atherectomy devices market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for a robust expansion in the coronary atherectomy devices market in the ensuing years. The market is projected to escalate to $0.34 billion in 2029, expanding at a compound annual growth rate (CAGR) of 9.6%.
This projected growth within the forecast period is associated with factors such as an aging population, hybrid procedures, investment in the industry, and increased awareness among patients and physicians. Key trends to watch within the forecast period encompass advancements in coronary atherectomy devices, device miniaturization, improved imaging, personalized treatment methods, progress in device design, and the integration of robotics and artificial intelligence.
What Are The Essential Drivers Behind The Growth Of The Coronary Atherectomy Devices Market?
The upsurge in cardiovascular diseases (CVDs) has led to a growing demand for atherectomy devices needed for their treatment. The growing rate of cardiovascular ailments is largely down to unhealthy lifestyles that include smoking, physical inactivity, and poor diets. For example, the Center for Disease Control and Prevention, a governmental agency based in the US, noted that there were 695,547 deaths caused by cardiovascular diseases in the year 2021, as reported in September 2023. Moreover, records from the American College of Cardiology, a non-profit medical association in the US, revealed in August 2022 that there is a projected increase in risk factors for ischemic heart disease by 30.7%, amounting to approximately 29 million by the year 2025. Consequently, the rise in the occurrence of cardiovascular diseases is anticipated to boost the expansion of the global coronary atherectomy devices market.
How Is The Global Coronary Atherectomy Devices Market Divided Into Key Segments?
The coronary atherectomy devices market covered in this report is segmented –
1) By Product: Directional Atherectomy Devices, Orbital Atherectomy Devices, Photo-Ablative Atherectomy Devices, Rotational Atherectomy Devices, Other Products
2) By Application: Peripheral Vascular, Cardiovascular, Neurovascular
3) By End User: Hospitals And Surgical Centers, Ambulatory Care Centers, Research Laboratories And Academic Institutes
Subsegments:
1) By Directional Atherectomy Devices: Traditional Directional Atherectomy Devices, Advanced Directional Atherectomy Devices
2) By Orbital Atherectomy Devices: Single-Wire Orbital Atherectomy Devices, Multi-Wire Orbital Atherectomy Devices
3) By Photo-Ablative Atherectomy Devices: Laser-Based Photo-Ablative Devices, Other Photo-Ablative Atherectomy Devices
4) By Rotational Atherectomy Devices: Manual Rotational Atherectomy Devices, Motorized Rotational Atherectomy Devices
5) By Other Products: Combination Atherectomy Devices, Custom Atherectomy Solutions, Other Coronary Atherectomy Devices
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What Emerging Trends Are Influencing The Growth Of The Coronary Atherectomy Devices Market?
The key players in the coronary atherectomy equipment market are geared towards inventing novel solutions like radial access catheters which enhance patient results by facilitating safer and less invasive treatments for coronary artery disease. These radial access catheters are specialized healthcare tools used in the sphere of interventional cardiology to reach the coronary arteries via the radial artery in the wrist, as opposed to the conventional femoral artery in the groin. For instance, AngioDynamics, an American healthcare product solutions provider, attained FDA 510(k) clearance for its Auryon XL Radial Access Catheter in January 2024. This device, intended for treating peripheral arterial disease (PAD), is a 225-cm catheter that’s compatible with the Auryon Atherectomy System, and offers two diameter choices (0.9 mm and 1.5 mm) while employing cutting-edge laser technology to efficiently treat arterial blockages. Notably, this radial approach substantially diminishes major bleeding risks compared to conventional femoral access and enables dual disease treatment in one session, hence accelerating recovery.
Who Are the Key Players In The Coronary Atherectomy Devices Market?
Major companies operating in the coronary atherectomy devices market include:
• Boston Scientific Corporation
• Koninklijke Philips N.V.
• Cardiovascular Systems Inc.
• The Spectranetics Corporation
• Medtronic Inc.
• Avinger Inc.
• Biotronik SE & Co KG
• Arterial Remodeling Technologies
• Atrium Medical Corporation
• B. Braun Melsungen AG
• Balton Sp. z o.o.
• Biosensors International Group Ltd.
• Straub Medical AG
• C.R. Bard Inc.
• RA Medical Systems Inc.
• Shockwave Medical Inc.
• Terumo Corporation
• Abbott Laboratories Inc.
• Asahi Intecc Co. Ltd.
• Baylis Medical Company Inc.
• Cook Medical LLC
• Cordis Corporation
• Edwards Lifesciences Corporation
• Endologix Inc.
• Infraredx Inc.
• Intact Vascular Inc.
• Lutonix Inc.
• Mercator MedSystems Inc.
• Miracor Medical Systems GmbH
• OrbusNeich Medical Company Limited
• QT Vascular Ltd.
• TriReme Medical LLC
• Vascular Solutions Inc.
• Volcano Corporation
What Are The Regional Insights Into The Coronary Atherectomy Devices Market?
North America was the largest region in the coronary atherectomy devices market in 2023. Western Europe was the second-largest region in the global coronary atherectomy devices market share. Africa, was the smallest region in the coronary atherectomy devices industry. The regions covered in the coronary atherectomy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
