Enhanced Efficiency of Atherectomy Devices Propels Market Growth

29 October 2020: The atherectomy devices market is expected to witness considerable growth due to increasing demand for minimally invasive procedures/surgeries (MIS). These procedures cause fewer traumas to patient and promote quick recovery than other invasive procedures. A key driver of the market is the increasing cases of target diseases such as peripheral artery disease (PAD). Atherectomy devices are designed differently to either cut or shave and are used to remove atherosclerotic plaque from diseased arteries. Such devices are mainly used in hospitals, clinics, and ambulatory surgical centers (ASCs), leading to high demand for the product in hospitals globally. 

Success Rate of the Product Fuels Segment Growth

Based on types, the market is segmented into directional, rotational, orbital, and laser atherectomy devices. Directional atherectomy devices had the largest share of the market in 2016 due to its early inception in the market. In addition, its ability of plaque debulking and its availability in the market in various sizes are some of major advantages of the product. 

Another factor contributing to the high demand for the product is various clinical trials, which establish the efficiency of the devices. Trials such as EASE (Endovascular Atherectomy Safety and Effectiveness) and DEFINITIVE LE (determination of effectiveness of the SilverHawk peripheral plaque excision system for infrainguinal vessels/lower extremities treatment) have a success rate of more than 90%. This promotes the effectiveness of the devices, propelling the growth of the market.

Rotational atherectomy devices witnessed a considerable market share due to its wide usage in procedures. In almost 96% cases, there is no need of clinical assistance up to 9 months, which is expected to drive the demand for rotational devices, thus fueling the market growth over the next few years. The reimbursement scenario is also favorable for atherectomy devices, which is contributing to the growth of the market. In October 2014, the Centers for Medicare and Medicaid Services made some changes in the outpatient reimbursement scenario and increased the reimbursements rates by an average of 9%.

Market Insights

Atherectomy devices industry is mainly driven by continuous product development, growing target patient population, commercialization, favorable medical reimbursements, rising demand for minimally invasive atherectomy procedures, and strengthening distribution channels of major product manufacturers. 

Partnerships & mergers are among the key trends witnessed in the atherectomy device market in the recent years. For instance, in November 2018, the company acquired BTG plc and its key business including several peripheral interventional product lines. This acquisition is expected to help the company expand its interventional portfolio. 

Some of the leading companies in the atherectomy devices market are Cardiovascular Systems Inc.; Boston Scientific Corporation; Medtronic (Covidien), Spectranetics; Avinger Inc.; VOLCANO CORPORATION; Bayer AG; ST. JUDE MEDICAL; Straub Medical AG; BARD Peripheral Vascular; Terumo IS; and Cardinal Health (Cordis).