Atherectomy Device Market
Atherectomy Device Market Analysis by Rotational Atherectomy Devices, Directional Atherectomy Devices, Orbital Atherectomy Devices, and Laser Atherectomy Devices from 2024 to 2034
Analysis of Atherectomy Device Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Atherectomy Device Market Outlook (2024 to 2034)
The global atherectomy device market size is pegged at a valuation of US$ 1.23 billion in 2024 and is projected to reach US$ 3.71 billion by the end of 2034. Global demand for atherectomy devices is forecasted to rise at an impressive 11.6% CAGR over the next ten years.
Atherectomy is a minimally invasive technique used to clear atherosclerosis in arteries using a rotating device or a narrow tube with a blade at its end. The treatment is gaining popularity as a minimally invasive alternative angioplasty however, it is not yet proven to be superiorly effective to angioplasty as of yet.
Global issue of poor eating habits, an increasing number of people living a sedentary lifestyle, and more people suffering from peripheral artery diseases and coronary artery diseases are prime atherectomy device market trends that will favor market growth in the future. Increasing prevalence of obesity and diabetes is also estimated to contribute to the surging demand for atherectomy devices on a global level over the coming years.
- In January 2023, Avinger Inc., a commercial-stage medical device provider focusing on the treatment of Peripheral Artery Disease, announced that it had submitted a 510(k) application to the United States FDA for its novel image-guided atherectomy system. The next-generation atherectomy device specifically focuses on the treatment of larger vessels.
Technological advancements have resulted in the development of laser atherectomy devices, which are projected to further bolster market development in the long run. Rising preference for minimally invasive surgeries among patients around the world is also set to catalyze atherectomy device demand across the study period.
On the flip side, lack of awareness regarding atherectomy and high costs of atherectomy devices are predicted to be key restraints that could inhibit atherectomy device shipments on a global level through 2034.
| Report Attributes | Details |
|---|---|
| Atherectomy Device Market Size (2024E) | US$ 1.23 Billion |
| Projected Market Value (2034F) | US$ 3.71 Billion |
| Global Market Growth Rate (2024 to 2034) | 11.6% CAGR |
| United States Market Share in North America (2024E) | 97.1% |
| South Korea Market Value (2034F) | US$ 115 Million |
| China Market Growth Rate (2024 to 2034) | 12.3% CAGR |
| Canada Market Value (2024E) | US$ 26 Million |
| Key Companies Profiled |
|
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Why are Atherectomy Device Companies Thriving in North America?
“Surging Prevalence of Cardiovascular Disorders in the Region”
| Attribute | North America |
|---|---|
| Market Value (2024E) | US$ 993 Million |
| Growth Rate (2024 to 2034) | 11.8% CAGR |
| Projected Value (2034F) | US$ 3.01 Billion |
The number of people suffering from cardiovascular disease is high in the North American region, which is projected to primarily bolster demand for atherectomy devices going forward. Expanding geriatric population, adoption of sedentary lifestyles, poor eating habits, and high incidence of obesity are key factors that are responsible for surging cases of cardiovascular disorders in this region.
The United States is forecasted to emerge as the most opportune space for atherectomy device manufacturers in this region across the study period and beyond. The presence of developed healthcare infrastructure and the high availability of advanced atherectomy products are estimated to bolster atherectomy device market growth in this country through 2034.
- Rising at a phenomenal CAGR of 11.7% from 2024 to 2034, atherectomy device sales are projected to reach US$ 2.92 billion in North America by the end of 2034.
Rising availability of suitable reimbursement policies for atherectomy procedures and the surging adoption of advanced FDA-approved atherectomy devices are also predicted to favor the expansion of the atherectomy device market size in the United States. High investments in atherectomy R&D and rising preference for minimally invasive surgeries in North America are also projected to open up new avenues of opportunities for atherectomy device suppliers in the future.
A detailed yet comprehensive analysis of all regions along with aspects such as pricing trends, product standards, local supply, safety regulations, and new developments have been mentioned in this atherectomy device market research analysis by skilled analysts at Fact.MR, a market research and competitive intelligence provider.
Country-wise Insights
Atherectomy device distributors should not miss out on investing in North America but also focus on other countries such as Japan, Germany, China, India, and Italy to boost their global atherectomy device market share in the future.
Will Atherectomy Device Companies Be Profitable in Japan?
“Rapidly Expanding Geriatric Population to Boost Demand Outlook”
| Attribute | Japan |
|---|---|
| Market Value (2024E) | US$ 67 Million |
| Growth Rate (2024 to 2034) | 7.8% CAGR |
| Projected Value (2034F) | US$ 143 Million |
The issue of a rapidly aging population in Japan is not new to the world and this is projected to be the key prospect attracting atherectomy device companies to invest in this country. Aged people are more at risk of suffering from cardiovascular and other types of diseases, wherein atherectomy could help alleviate and treat them. The increasing availability of novel atherectomy devices and rising preference for minimally invasive surgeries in the country are forecasted to help Japan acquire a substantial atherectomy device market share in the East Asian region going forward.
Which European Countries Could Atherectomy Device Producers Go After?
“Germany, Italy, and United Kingdom Will Offer Good Growth Scope”
Rising incidence of cardiovascular disorders in European countries such as Italy, Germany, and the United Kingdom is projected to create new opportunities for atherectomy device suppliers over the coming years. Growing awareness regarding atherectomy procedures and increasing approvals of new atherectomy devices in the European region are also estimated to bolster shipments of atherectomy devices in the long run.
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Category-wise Insights
Atherectomy device manufacturers are focusing on supplying orbital atherectomy systems to hospitals to maximize their revenue generation potential in the future.
Where Will Most Atherectomy Devices Be Utilized?
“Hospitals to Continue to Lead Global Revenue Generation”
| Attribute | Hospitals |
|---|---|
| Segment Value (2024E) | US$ 584.2 Million |
| Growth Rate (2024 to 2034) | 6.6% CAGR |
| Projected Value (2034F) | US$ 1.93 Billion |
A majority of cardiovascular diagnostic and treatment procedures are performed in hospitals and this is why the demand for atherectomy devices is estimated to soar high in hospitals going forward. Hospitals are also equipped with medical professionals and medical facilities to improve the overall patient outcome. Moreover, the easy reimbursement structure for surgeries performed in hospitals is also projected to uplift shipments of atherectomy devices in hospitals over the next ten years.
Which Type of Atherectomy Equipment is Highly Demanded?
“High Success Rate of Orbital Atherectomy Devices”
| Attribute | Orbital Atherectomy Devices |
|---|---|
| Segment Value (2024E) | US$ 505.1 Million |
| Growth Rate (2024 to 2034) | 12.7% CAGR |
| Projected Value (2034F) | US$ 1.67 Billion |
Orbital atherectomy is used for the lesion preparation of calcified plaque to avoid percutaneous coronary and endovascular interventions. The success rate of orbital atherectomy devices is higher as compared to other atherectomy device types, which also allows this segment to hold a dominant atherectomy device market share. The ability of orbital atherectomy devices to treat plaque in wider arteries is also what could drive its demand in the long run.
Competitive Landscape
Leading atherectomy system providers are focusing on getting their products approved by regulatory authorities to fast-track their commercialization process.
- In October 2023, Cardio Flow, a medical device company based in the United States, announced that it had received a 510(k) clearance from the United States Food and Drug Administration (FDA) for its orbital atherectomy peripheral platform. FreedomFlow uses a catheter-based design and modern mechanism to clear plaque blockages in arteries.
- In January 2021, Cardiovascular Systems Inc. (CSI), a renowned organization focusing on developing and commercializing innovative solutions for cardiovascular diseases, announced that it had received a CE mark for its innovative Diamondback 360® Coronary Orbital Atherectomy System. This allowed CSI to enter the European marketplace and expand its business potential.
Prime atherectomy device companies are also focusing on mergers, acquisitions, and partnerships to expand their product portfolio and increase their market share in the global competitive landscape.
- In February 2023, Abbott, a leading multinational medical device supplier based in the United States, announced that it had entered into a definitive agreement to acquire Cardiovascular Systems Inc. (CSI). CSI’s portfolio consists of an innovative atherectomy system that is widely used in the treatment of coronary artery disease and peripheral artery disease. This acquisition strengthened Abbott’s stance in the atherectomy device marketplace.
- In October 2019, AngioDynamics Inc., a top company supplying minimally invasive vascular access medical devices, announced that it had acquired an early-stage medical device company called Eximo Medical Ltd. AngioDynamics also acquired the novel 355nm laser atherectomy technology with a US$ 46 million up-front consideration.
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Key Segments of Atherectomy Device Market Research
-
By Device Type :
- Rotational Atherectomy Devices
- Directional Atherectomy Devices
- Orbital Atherectomy Devices
- Laser Atherectomy Devices
-
By Indication :
- Coronary Artery Diseases
- Peripheral Artery Diseases
-
By End User :
- Hospitals
- Ambulatory Surgical Centers
- Office-Based Labs (OBL)
-
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
- FAQs -
How big is the atherectomy device market set to be in 2024?
The global atherectomy device market is estimated to reach US$ 1.23 billion in 2024.
What is the projected market size for atherectomy devices by 2034?
Sales of atherectomy devices are predicted to reach US$ 3.71 billion by 2034-end.
At what CAGR will the demand for atherectomy devices rise?
The global market is forecasted to increase at 11.6% CAGR from 2024 to 2034.
Where will atherectomy device sales soar high?
Atherectomy device demand in North America is forecasted to rise at a stellar 11.8% CAGR over the next ten years.
Which device is preferably used for atherectomy?
Orbital atherectomy devices are extensively used for atherectomy procedures on a global level.
Who are the top atherectomy device suppliers?
Avinger Inc., Medtronic plc., Abbott Laboratories, and Boston Scientific Corporation are leading atherectomy device manufacturers.
Atherectomy Device Market