Global Mechanical Thrombectomy Devices Market Valued US$ 760 Mn Will Expand At 6% CAGR By 2026
The Global Mechanical Thrombectomy Devices Market was valued at US$ 760 million in 2021 and is set to witness a healthy growth rate of 6% in the next 5 years. The rising cases of stroke, venous thromboembolism (deep vein thrombosis & pulmonary embolism), approval/launch of the novel mechanical thrombectomy device, favorable clinical trial outcomes with mechanical thrombectomy, and acquisitions by leading players to fortify their vascular portfolio, and treat patients with blood clots are some of the important factors driving the global mechanical thrombectomy devices market.
However, some of the crucial factors that are likely to hamper its development are inadequate specialists and limited awareness and education of both the physicians and the patients.
Technological Advancements Driving The Mechanical Thrombectomy Devices Market
Technological advancements are expected to boost the mechanical thrombectomy devices market.
- In April 2022, Penumbra announced that its Indigo Aspiration System with Lightning 7 and Lightning 12 has secured CE Mark and are now commercially available in Europe. Both technologies are part of Penumbra’s Indigo Aspiration System – now with Intelligent Aspiration for mechanical thrombectomy -and are designed for single-session arterial and venous thrombus removal, including the treatment of pulmonary embolisms
“Existing mechanical thrombectomy treatment options do not adequately treat VTE for several reasons. Most current mechanical thrombectomy device is designed to aspirate fresher arterial clot, which is small and soft. As a result, these devices can be inadequate and ineffective for removing the larger, older clots associated with VTE.” – General Manager, Commercial-stage Medical Device Company, APAC
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In 2020, the number of elective procedures reduced significantly due to Covid-19 which resulted in a decline in the market. There are various plausible reasons for the apparent reduction in mechanical thrombectomy performance between 2020-2021:
- Delays in accessing specialized care, result in patients presenting outside of the therapeutic window
- The reluctance of acute ischemic stroke patients to present at emergency departments
- Reduction in stroke occurrence during the COVID-19 pandemic as a result of mandated social distancing
However, towards the end of the 2021 fourth quarter, companies witnessed the pressure from COVID-19 gradually alleviated and businesses are now trending close to normalized run rates.
Organic And Inorganic Growth Strategies Adopted By Players
The players operating in the mechanical thrombectomy devices market adopted both organic and inorganic growth strategies. Such as acquisitions and new product launches to garner market share.
- In April 2022, Wallaby Medical acquired phenox GmbH. phenox has a broad product portfolio covering both ischemic and hemorrhagic stroke as well as Access & Support. The key product lines of phenox include the p64/p48 range of flow diverters for the treatment of intracranial aneurysms and the pRESET range of stent retrievers for the mechanical thrombectomy of ischemic strokes
The outlook for the mechanical thrombectomy device market looks promising due to the increasing geriatric population and cases of stroke, venous thromboembolism, technological developments in mechanical thrombectomy devices, strong product pipeline, established coding & payments for mechanical thrombectomy in key markets such as the U.S. and growing awareness about mechanical thrombectomy due to patient advocacy groups and clinical society support.
Competitive Landscape Analysis
The global mechanical thrombectomy devices market is marked by the presence of players. Such as Medtronic, Stryker, Penumbra, Boston Scientific, AngioDynamics, Control Medical, Inari Medical, among others.
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