Atherectomy Device Market Accelerates at 11.6% CAGR to Reach US$ 3.71 Billion by 2033: Fact.MR Study
Investing in North America Will Be No Brainer for Atherectomy Device Manufacturing Companies
Rockville , Dec. 04, 2023 (GLOBE NEWSWIRE) — The global Atherectomy Device Market is forecast to account for a value of US$ 1.23 billion in 2024 and is projected to reach US$ 3.71 billion by the end of 2034. This study by Fact.MR, a market research and competitive intelligence provider, says that most atherectomy device sales revenue will continue to come from hospitals over the next ten years.
Rapidly rising incidence of cardiovascular disorders on a global level is projected to primarily bolster sales of atherectomy devices in the long run. The expanding senescent population and rising popularity of minimally invasive surgeries are also projected to favor atherectomy device demand across the study period and beyond. Rising healthcare expenditure and the high availability of advanced atherectomy devices are also estimated to promote market growth through 2034.
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Key Segments of Atherectomy Device Industry Research Report
|By Device Type
|By End User
Atherectomy device manufacturers are focusing on fast-tracking the development of novel atherectomy systems to improve their sales potential on a global level.
- In 2020, Ra Medical Systems Inc., a renowned supplier of excimer lasers, announced that it had received an IDE (investigational device exemption) approval from the United States Food and Drug Association (FDA) to study the use of its DABRA excimer laser as an atherectomy device.
Key Takeaways from Market Study
- The global atherectomy device market is estimated at US$ 1.23 billion in 2024.
- Demand for atherectomy devices is projected to rise at a phenomenal CAGR of 11.6% over the next ten years.
- Increasing healthcare expenditure, rising preference for minimally invasive surgeries, high incidence of cardiovascular diseases, and growing prevalence of obesity and diabetes are key market drivers.
- Lack of awareness regarding atherectomy procedures is expected to be the major constraint for market growth over the coming years.
- Orbital atherectomy device sales are forecasted to increase at a stellar 12.7% CAGR from 2024 to 2034.
- Demand for atherectomy devices in North America is set to rise at 11.8% CAGR and account for 81.3% of global sales revenue by 2034.
- Sales of atherectomy devices in Japan are projected to reach US$ 143 million by the end of 2034.
“Laser atherectomy devices are projected to gain massive popularity around the world and atherectomy device companies should invest in their product innovation to futureproof their business,” says a Fact.MR analyst
New as well as incoming atherectomy device suppliers are projected to focus on mergers and acquisitions to amplify their business reach and bolster their global market presence. Atherectomy device companies are also estimated to invest heavily in pushing their products for approval from regulatory bodies to improve their scope of commercialization.
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|Value Projection (2034)
|USD 3.71 Billion
|Growth Rate (2024-2034)
|No. of pages
|No. of Tables
|No. of Figures
Prominent providers of atherectomy systems are strategically prioritizing regulatory approvals to expedite the commercialization of their products.
- In October 2023, Cardio Flow, a U.S.-based medical device company, announced the receipt of 510(k) clearance from the United States Food and Drug Administration (FDA) for its groundbreaking orbital atherectomy peripheral platform, FreedomFlow. Utilizing a catheter-based design and modern mechanism, FreedomFlow effectively clears plaque blockages in arteries.
- Similarly, in January 2021, Cardiovascular Systems Inc. (CSI), a renowned organization dedicated to developing and commercializing innovative solutions for cardiovascular diseases, received a CE mark for its revolutionary Diamondback 360® Coronary Orbital Atherectomy System. This milestone facilitated CSI’s entry into the European market, expanding its global business potential.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global atherectomy device market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights on the market based on device type (rotational atherectomy devices, directional atherectomy devices, orbital atherectomy devices, laser atherectomy devices), indication (coronary artery diseases, peripheral artery diseases), and end user (hospitals, ambulatory surgical centers, office-based labs (OBL)), across six major regions of the world (North America, Europe, Latin America, East Asia, South Asia & Oceania, and Middle East & Africa).
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Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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