Thrombectomy Devices Market - By Product Type (Ultrasound-assisted Thrombectomy Devices, Rotational Thrombectomy Devices, Aspiration Thrombectomy Devices, Mechanical/Fragmentation Thrombectomy Devices, Clot Extraction Catheter, Stent Retrievers, Microcatheters), By Application, By End-use – Global Forecast, 2023-2032

 Thrombectomy Devices Market Size

Thrombectomy Devices Market size was worth USD 1.4 billion in 2022 and is estimated to expand significantly at 7.3% CAGR from 2023 to 2032, driven by the increasing prevalence of cardiovascular disorders and the surging need for effective treatment procedures worldwide.
 

The increasing burden of sedentary lifestyles in both developed and developing countries is dramatically increasing the frequency of cardiovascular diseases, propelling the demand for thrombectomy operations. The rising instances of disease-related mortality is further driving the need for efficient treatment methods. For instance, the WHO estimates that cardiovascular disease causes more than 17 million deaths yearly, or around 31% of all fatalities worldwide. Patients with such long-term cardiac issues may have platelet aggregation or clotting, thus, raising the possibility of abrupt heart failure or heart attack, subsequently driving the industry landscape. 
 

The rising exposure to various regulations and guidelines established by regulating authorities may impede the thrombectomy devices market progress. While regulations are vital for patient safety and product quality, the presence of overly complex and stringent frameworks is leading to restrained innovation. The lengthy approval processes and rigorous compliance requirements is also making way for delays in product launches, increasing development costs, and limited market access for new entrants. However, the rising efforts towards streamlining the regulatory processes and promoting clearer communication along with the continued advancements in thrombectomy device technologies will assist in the market growth.
 

COVID-19 Impact

The COVID-19 pandemic positively impacted the market expansion despite the disruption to various healthcare operations driven by the rising need for operations to match the greater risk of thromboembolism among the infected patients. Furthermore, the substantial death rate was brought on by the rising proportion of COVID-19 patients who suffered acute ischemic strokes. The American Heart Association reported that acute ischemic strokes (AIS) occurred in about 1.3% of COVID-19-infected people. Thus, the increased requirement for efficient treatment procedures boosted the product demand in the pandemic.
 

Thrombectomy Devices Market Trends

Surging technological advancements in thrombectomy devices will strengthen the industry growth potential during 2023-2032. The introduction of innovative devices is offering higher efficiency and ease in the clinical workflow to physicians performing thrombectomy procedures. Furthermore, growing advancements in thrombectomy devices to provide maximum precision in minimally invasive procedures will add to the product adoption rate. In September 2021, Abbott announced the acquisition of Walk Vascular, LLC, a mechanical aspiration thrombectomy system developer for the removal of peripheral blood clots. The acquisition extended Abbott's vascular device portfolio and its capacity to provide unique endovascular treatment options to improve patient care.
 

Thrombectomy Devices Market Analysis

Thrombectomy devices market from mechanical/fragmentation segment size is estimated to record USD 840 million by 2032 owing to expanding usage to offer improved efficacy in the treatment of diseases. Moreover, the rise in R&D investments by industry players for introducing highly advanced mechanical thrombectomy devices integrated with advanced computer-aided components will add to the segment progress. To cite an instance, in January 2023, Penumbra, Inc. announced the approval and launch of Lightning FlashTM, the most advanced and powerful mechanical thrombectomy system featuring an advanced microprocessor algorithm. 
 

Thrombectomy devices market from the cardiovascular thrombectomy application segment is likely to witness around 7.3% CAGR from 2023 to 2032. The growth is attributed to the surge in the number of patients suffering from severe heart conditions. According to research published in the Journal of the American College of Cardiology in August 2022, the estimated rate of cardiovascular risk factors and disease in the U.S. would rise considerably by 2060. Significant increases in cardiovascular trends may add to the burden on the American healthcare system and highlight the need for fair access to early disease preventive education and treatment options, subsequently surging the need for cardiovascular thrombectomy.
 

North America thrombectomy devices market size is expected to expand at 7.4% CAGR from 2023-2032 driven by the growing awareness regarding vascular diseases, increasing healthcare expenditure, favorable reimbursement scenarios, and government initiatives. The rapidly expanding geriatric population base highly prone to several chronic disorders along with the increasing preference for non-surgical treatments has pushed several manufacturers to introduce medically advanced devices, leading to enhanced regional industry growth. For instance, in June 2023, Surmodics, Inc., announced that it had received the U.S. FDA 510(k) clearance for its Pounce™ LP Thrombectomy System designed for the non-surgical removal of thrombi and emboli from the peripheral arterial vasculature.
 

Thrombectomy Devices Market Share

The competitive landscape of the thrombectomy devices market includes prominent companies, such as

• Weigao Group (Argon Medical)
• Lemaitre Vascular Inc.
• Boston Scientific Corporation
• Medtronic Plc.
• Penumbra, Inc.
• Edwards Lifesciences Corporation
• Teleflex Incorporated
• Stryker Corporation
• Johnson & Johnson Services Inc.
• Terumo Corporation
   

Thrombectomy Devices Market News

• In March 2022, India Medtronic Private Limited, a part of Medtronic plc, launched PRAAN, the country's first dedicated post-market registry for gathering real-time information for the assessment of acute ischemic stroke patients treated with revascularization devices.
   

Thrombectomy devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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By Product Type (USD Million)

• Ultrasound-assisted thrombectomy devices
• Rotational thrombectomy devices
• Aspiration thrombectomy devices
• Mechanical/fragmentation thrombectomy devices
• Clot extraction catheter
• Stent retrievers
• Microcatheters
• Others

By Application (USD Million)

• Peripheral thrombectomy
• Neurovascular thrombectomy
• Cardiovascular thrombectomy

By End-use (USD Million)

• Hospitals
• Ambulatory surgical centers
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Switzerland
  • The Netherlands
  • Denmark
  • Poland
  • Sweden
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • New Zealand
  • Thailand
  • Vietnam
  • Indonesia
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Turkey