Market Trends of Clot Management Devices Industry
This section covers the major market trends shaping the Clot Management Devices Market according to our research experts:
Embolectomy Balloon Catheter Segment is Expected to Register Significant Growth
- During a surgical thrombectomy, a surgeon makes an incision into a blood vessel to remove the clot and repair the blood vessel to restore blood flow. Sometimes, a balloon or other device may be put in the blood vessel to help keep it open. A balloon embolectomy catheter is then used to retrieve any proximal or distal thrombus (blood clot). Thus, with the increasing number of coronary artery diseases and other cardiovascular diseases (CVDs), the demand for such devices is increasing. This is expected to fuel the segment's growth over the forecast period.
- Several embolectomy balloon catheters are available commercially, which help in removing fresh, soft emboli and thrombi from vessels in the arteries of the non-central circulatory system. For instance, the Fogarty arterial embolectomy catheter available on the market is hand-tied using a recessed winding technique to secure the balloon to the catheter. The balloon exhibits a symmetry that exerts uniform contact with vessel walls for even pressure and precise traction. It has a rounded tip that promotes easy insertion for reduced trauma. Thus, such availability of products and innovation of products by the major players is anticipated to fuel the segment's growth.
- Furthermore, various product launches are fuelling the segment's growth. For instance, in February 2022, Vena Medical received the first Health Canada medical device license for its new product, the Vena balloon distal access catheter. It combines the balloon guide catheters and distal access catheters currently used in thrombectomy to remove clots from the brains of stroke patients. Such developments are expected to fuel segment growth.
- Therefore, owing to the factors mentioned above, the embolectomy balloon catheter segment is poised to witness growth over the forecast period.
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North America is Expected to have Significant Market Share
- North America is anticipated to witness growth over the forecast period and dominate the market. Among other countries in the region, the United States is leading the market due to increased healthcare expenditure, product innovation, and a rising prevalence of cardiovascular diseases. Additionally, the increasing geriatric population across the United States is the primary driver for the US clot management devices market.
- Several research papers and sources mentioned that people who have coronary artery disease (CAD) are predisposed to blood clots that can result in a heart attack or stroke. This is because some plaques (fatty deposits), in addition to reducing blood flow through the arteries, can rupture. Thus, the management of blood clots in CAD patients is necessary. Hence, the burden of CAD in the United States is anticipated to drive demand for blot clot management devices, thereby driving market growth in the region.
- Furthermore, blood clots are generally seen in patients 65 years old or older. As people age, mobility decreases, and the chances of surgery and hospice care increase. This is because blood clots can form in the legs due to immobility and older people are more prone to getting blood clots in the legs. The data updated in February 2022 by the United States Department of Health and Human Services (USHHS) shows that the population in the United States is aging unprecedently, and the population aged 65 or older is projected to reach 23.5% (98 million) by 2060 in the country. Hence, the prevalence of blood clots in the country is increasing and is predicted to continue due to the increasing geriatric population. Thus, it is predicted to create demand for blood clot management devices. Hence, the studied market is anticipated to grow over the forecast period in the United States.
- Moreover, the increasing product launches and approvals for innovations in countries across North America are fuelling the studied market growth during the forecast period. For instance, in February 2022, Imperative Care, Inc. launched its Zoom POD Aspiration Tubing, the company's latest innovation in stroke treatment and the first and only filter to capture clots in the sterile field. The Zoom POD is the newest addition to Imperative Care's Zoom Stroke Solution, the company's ischemic stroke product portfolio that includes the Zoom 88 Large Distal Platform for neurovascular access, four Zoom Aspiration Catheters in various sizes, and the Zoom Pump with accessories. Such developments are fuelling the overall market growth in the region.
- Therefore, owing to the factors mentioned above, North America is predicted to witness growth over the forecast period.
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