2014-02-26 05:01:01 - Global Atherectomy and Thrombectomy Devices Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Atherectomy Devices market is to grow at a CAGR of 11.48 percent and the Global Thrombectomy Devices market to grow at a CAGR of 8.14 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing incidence of Abdominal Aortic Aneurysm and Peripheral Arterial Disease worldwide. The Global Atherectomy and Thrombectomy Devices market has also been witnessing an increase in patent grants and US FDA approvals. However, the adverse effects of atherectomy and thrombectomy devices could pose a challenge to the growth of this market.
There has been a rapid increase in the number of new products in the Global Atherectomy and Thrombectomy Devices market in the recent years because of
the significant increase in the number of reputed vendors in this market. Moreover, many of these devices have received FDA approval, which has increased accessibility to new peripheral vascular devices for patients worldwide. In addition, patent grants for many reputed vendors are increasing. For instance, Sorin Group received FDA approval for its implantable cardioverter defibrillator. Similarly, LifeStent and LifeStent XL Vascular Stent Systems, manufactured by Bard Peripheral Vascular Inc., received FDA approval in December 2010. Furthermore, Cordis Corp. announced the approval of the EXOSEAL Vascular Closure Device in May 2011. Cordis Corp. also received the FDA approval for its 2.25 mm CYPHER in 2009. In addition, Biosense Webster Inc. received FDA clearance for its CARTO 3 System in 2009. Thus, the increasing number of patent grants and FDA approvals is an emerging trend that is expected to have a positive impact on the market during the forecast period.
One of the key drivers in this market is the significant increase in the prevalence of diseases such as AAAs and PADs. Moreover, the increase in the aging population, lifestyle changes and unhealthy habits, as well as the presence of genetic and co-morbid influences among patients has resulted in high incidence of acute PVD across the globe.
One of the major challenges in the market is the lack of awareness about PVDs among patients. This is mainly due to the asymptomatic nature of vascular diseases, where patients do not realize their immediate symptoms.
The key vendors dominating the Global Atherectomy Devices market are Bayer AG, Boston Scientific Corp., Cardiovascular Systems Inc., Covidien plc, and Spectranetics Corp.
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