Market Size of Global Thrombectomy Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 7.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Thrombectomy Devices Market Analysis
The thrombectomy devices market is expected to register a CAGR of 5% over the forecast period (2022-2027).
The COVID-19 outbreak severely impacted the thrombectomy market device market growth. The strict lockdowns and government restrictions have stopped the spread of the virus but slowed down the supply of these devices. Also, the government has applied the guidelines to delay non-essential surgeries, as a result, many surgical procedures were delayed globally and people had suffered a lot due to this. Also, these government restrictions slowed down the neurological procedures and the number of neuro thrombectomy procedures globally. For instance, in 2021 according to the data published by the International Journal of Stroke reported that the number of mechanical thrombectomy procedures got decreased by 12.7% during the initial three months of the pandemic. The onset of the COVID-19 pandemic has led to a rise in patients suffering from chronic diseases. The effects of coronavirus on the health of patients have increased cases of respiratory failures resulting in deaths. At the beginning of the pandemic, a significant decline in the use of mechanical thrombectomy was observed worldwide. Besides, postponement in treatments using mechanical thrombectomy due to infection control measures has as well negatively impacted the market prospects. Although COVID-19 has disrupted several healthcare activities, the thrombectomy devices market continued to witness robust growth. The higher risk of thromboembolism among COVID-19 patients led to increased demand for thrombectomy procedures thereby boosting market revenue.
The main driving features for this market are the growing geriatric population leading to an increase in cardiovascular diseases (CVDs) related to patients, technological advancements in medical devices used for capturing blood clots, and increased awareness regarding the early diagnosis of diseases. The growing geriatric population is leading in driving this market. The world is expected to witness a demographic shift over a few decades and the geriatric population is expected to dominate. Since, the geriatric population and increasing chronic diseases are rising globally and ultimately propelling the demand for thrombectomy devices, thereby contributing to the market growth.
The increasing incidence of ischaemic stroke has introduced the need to launch advanced products on market. The advancement and launch of new devices like suction devices, clot retrievers, and aspiration catheters based on advanced technology for ischaemic stroke are driving the market. For instance, in 2021 Phenox GmbH launched pRESET 6-50 mechanically thrombectomy devices globally to increase its technology for acute ischemic stroke. This product has the longest stent retriever in the phenoxy product portfolio.
The abovementioned aforesaid reasons the market is expected to show significant growth over the forecast period, however shortage of trained professionals, and high cost and difficultly use of devices for complex morphologies, maybe the restrain for this market.
