The Thrombectomy Devices Market: Growth, Trends, and Outlook

This Thrombectomy Devices Market for thrombectomy devices has witnessed tremendous growth over the last few years due to an increased incidence of disorders like stroke and deep vein thrombosis (DVT) along with solid investments in healthcare, technological advancements, and increased preference for minimally invasive procedures. Thrombectomy devices are applied in any procedure that intends to remove clots from blood vessels, but most importantly, it has been utilized in treating ischemic strokes as well as other kinds of thrombotic conditions. These are especially important for restoring blood flow while warding off the likelihood of long-term complications or even death due to a disease that has blood clots, especially in cases of neurovascular disorders where prompt intervention is imperative to minimize neurological impairment.

The thrombectomy devices market was valued at nearly US$ 1,409.82 million in 2021 and is expected to reach nearly US$ 2,708.48 million by 2031, registering a compound annual growth rate of 6.8%. Drivers of the market report studies drivers where growth in segmentation trends, key applications, and regional insights into the competitive landscape all contribute going forward.

Key Thrombectomy Devices Market Drivers

• Increasing stroke and Thrombosis: The increasing rate of stroke and other thrombotic diseases, like DVT and pulmonary embolism, has led to the demand for thrombectomy devices. According to WHO statistics, stroke is the second most common cause of death globally. 

• Advancements in Thrombectomy Devices Technology: Some of the innovations refer to the developments made in thrombectomy devices, specifically on mechanical thrombectomy tools and aspiration catheters. These have improved clot removal procedures profoundly in terms of effectiveness 

• Growing Demand for Minimally Invasive Procedures: The surgery has been popularized due to minimal recovery time, smaller incisions, and fewer chances of complications as compared to traditional surgical procedures. In this shift, thrombectomy devices are used to remove clots and are safer and faster substitutes for open surgery.

• Increasing Awareness and Enhanced Diagnosis: Better awareness of stroke and thrombotic disorders is now there. Diagnostic technology also improved to detection of thrombotic conditions at an earlier stage than before, which makes it easier for easy intervention with thrombectomy devices, and chances of a positive patient outcome are much increased.

Thrombectomy Devices Market Segmentation

Product Type

• Mechanical Thrombectomy Devices: They are designed to physically remove the blood clots from the body using some mechanical force like suction, stent retrievers, or clot-removal coils. Market dominance is derived from the reason that they are very effective in stroke treatment, especially ischemic strokes.

• Aspiration Thrombectomy Devices: It makes use of the pressure exerted by suction to take out clots from the vessels. It remains an effective and minimally invasive procedure to address this condition.

• Other Devices: category includes all other thrombectomy devices: balloon catheters, used alongside other therapies.

By Application

• Ischemic Stroke: The highest number of device applications applies to ischemic stroke, where a clot in the blood flow causes a stroke because of the obstruction of blood supply reaching the brain. Thrombectomy is commonly done to remove the clot and thus re-establish the circulation.

• Deep Vein Thrombosis (DVT): The other significant use of thrombectomy devices is in the treatment of deep vein thrombosis, an illness where clots form in the deep veins, most commonly in the legs.

• Pulmonary Embolism: Another application is pulmonary embolism, a life-threatening condition caused when one clot blocks the arteries leading to the lungs.

By End-User

• Hospitals: They are the most demanding end-users of thrombectomy devices as they perform the majority of stroke and thrombotic disorder interventions.

• Ambulatory Surgical Centers (ASCs): As the trend towards outpatient procedures continues, ASCs more and more depend on thrombectomy devices for procedures that do not require hospitalized stay for a considerable period.

Thrombectomy Devices Market Regional Insight

• North America: likely to dominate the market for thrombectomy devices because of the relatively more advanced healthcare infrastructures, higher prevalence of stroke and other thrombotic disorders, 

• Europe:  ranked second to North America. Germany, the UK, and France have been investing in innovative medical devices and technology.

• Asia-Pacific: likely grow the fastest. Countries such as China and India have been witnessing an upsurge in healthcare investments, improvement in medical infrastructure, and a growing elderly population resulting in the risk of stroke and DVT.

Competitive Landscape

The thrombectomy devices market is one of the most competitive due to the immense amounts of investment from major players in the development and commercialization of advanced devices. Based on the analysis, key players in the market include Medtronic, Stryker Corporation, Johnson & Johnson, Terumo Corporation, and Penumbra, Inc., which will look forward to innovation, strategic partnerships, and mergers and acquisitions to ensure great market positioning.

Conclusion

The outlook for the market of thrombectomy devices seems to be steady growth due to an increased incidence rate of stroke and other thrombotic disorders, improvement in technology, and more demand for minimally invasive procedures. With a CAGR of 6.8%, the market is expected to reach US$ 2,708.48 million by 2031. The country-wise trends will be North America, Europe, and the Asia-Pacific region, and companies will innovate to meet the growing demand for effective and efficient thrombectomy treatments.

FAQ 

What is the thrombectomy devices market?
The market for medical devices removing blood clots from vessels.

Market size in 2021?
The market was US$ 1,409.82 million in 2021.

What is the market size expected by 2031?
The market is expected to grow up to US$ 2,708.48 million by 2031.

What is the CAGR of the market?
The market will grow at a CAGR of 6.8%.

What are the major growth promoters of the market?
The principal growth boosters are high stroke incidence, technological advancement, and an increasing trend for minimally invasive procedures.

What are the types of thrombectomy devices?
The major types include Mechanical and aspiration thrombectomy devices.

Which are the application areas of the thrombectomy devices?
They are primarily used in ischemic stroke, DVT, and pulmonary embolism.

Who are the major players in the market for thrombectomy devices?
The major players in the thrombectomy devices market are Medtronic, Stryker Corporation, and Penumbra, Inc.