Overview of the global atherectomy devices market
Atherectomy is a minimally invasive surgical procedure for the plaque that blocks vein grafts or coronary arteries. The recent rise in the incidence of peripheral artery disease across the globe, especially among the aging population, has boosted the demand for atherectomy procedures during the forecast period. Since many medical facilities are using atherectomy procedures to treat the peripheral artery disease, it will increase the demand and sales of atherectomy devices in the next few years. Technavio’s market research analyst predicts that the global atherectomy devices market will grow at a CAGR of more than 5% by 2020.
Owing to technological advancements and product innovations, vendors have been compelled to replace traditional atherectomy devices with new technologies like laser-based atherectomy devices. These advanced devices are more efficient and have minimal complications. Vendors have also come up with devices that offer advanced features such as improved physician controls, ergonomics, and manufacturability. For instance, Avinger’s advanced version of Pantheris lumivascular atherectomy system is the first image-guided atherectomy device. The increase in demand for such innovative devices among physicians will augment this market’s growth potential during the forecast period.
Segmentation by technology and analysis of the atherectomy devices market
- Directional atherectomy
- Rotational atherectomy
- Orbital atherectomy
- Laser atherectomy
Orbital atherectomy is an advanced technology that helps remove plaque in difficult-to-treat patient population. The high revolving speed of orbital atherectomy devices makes the tissue remains small for their harmless excretion through the circulatory system and restricts any possibility for distal embolic complications. These
Outlook of the transcatheter mitral valve replacement market
In this market research report, Technavio’s analyst have estimated that the global transcatheter mitral valve replacement market will grow stupendously at a CAGR of approximately 22% over the forecast period. With the increasing prevalence of mitral regurgitation, the market for transcatheter mitral valve replacement will have a positive outlook until the end of 2020. In 2009, research studies estimated that over 176 million people worldwide were suffering from mitral regurgitation. With age, the heart muscles lose their elasticity and their ability to respond to different pressure rates. This makes most individuals aged 60 or above susceptible to heart disorders such as mitral regurgitation. Furthermore, the rapidly increasing older population is driving the market because aging increases the chances of developing cardiovascular disorders including mitral regurgitation.
Factors like the recent advancements in technology, material, and design of prosthetic valves and delivery devices will aid the prospects for market growth until the end of the forecast period. The growing focus on compatibility and durability of implants in the human body has increased the preference for transcatheter mitral valves when compared to mechanical prosthetic valves. This shift from open-heart procedures to minimally invasive surgical methods for the implantation of devices like transcatheter mitral valves is expected to drive the market growth for transcatheter mitral valve replacements during the forecast period.
Product segmentation and analysis of the transcatheter mitral valve replacement market
- Transfemoral implantation
- Transapical implantation
Transfemoral implantation involves the use of a catheter to implant the transcatheter mitral valve through the femoral
Market outlook for embolic protection devices
The global market for embolic protection devices will exhibit impressive growth during the estimated period and will be positively affected by the preference for minimally invasive procedures with improved medical imaging. At present, medical facilities from across the globe have started shifting toward minimally invasive procedures that involve the use of radiotherapy and imaging technologies; thus, expanding the treatment options for peripheral vascular diseases (PVDs), such as deep vein thrombosis. If left untreated, PVD can cause heart attacks and strokes. To treat the disease, physicians perform angioplasty or insert stents in the blood vessels through small incisions during minimally invasive surgeries. Such methods help minimize trauma and pain and reduce the risks of infection in the blood vessels. According to Technavio’s market research analyst, the global embolic protection devices market will grow at a CAGR of almost 10% by 2020.
In terms of geography, it is estimated that the Americas will continue its market dominance until the end of 2020 and will account for almost 49% of the overall market share by the end of the forecast period. Much of this region’s growth can be attributed to the extensive use of embolic protection devices through distal or proximal insertion with subsequent aspiration for angiographic procedures. The volume of angiography is increasing due to the adoption of these devices for minimally invasive procedures, with most people preferring cath-labs for such techniques.
Competitive landscape and key vendors
At present, this market is growing steadily and is envisaged to exhibit rapid growth over the next few years due to the presence of many global and regional vendors that offer a wide range of embolic protection devices. In 2015, Medtronic, Abbott Laboratories, Boston Scientific, and Cardinal
Market overview of cardiac resynchronization therapy pacemakers (CRT-P)
Technavio’s market research analyst predicts the global cardiac resynchronization therapy pacemaker (CRT-P) market to grow at a CAGR of more than 8% by 2020. The incidence of cardiovascular diseases such as bradycardia, sick sinus syndrome, and cardiac arrest is on the rise across the globe. To decrease the mortality rate of cardiovascular diseases, several medical hospitals have started using CRT-Ps for managing heart failures. Also, physicians are increasingly using minimally invasive (MI) surgeries for CRT-Ps implantation as these procedures are safe, reduce the need for blood transfusions, the risk of infections, and hospital stays, which leads to rapid healing and recovery with better clinical outcome. This shift towards MI methods for the implantation of CRT-Ps will boost the sales of these devices in the coming years.
To overcome the challenges posed due to the use of conventional and lead-based pacemakers, vendors are developing leadless pacemakers which offer several benefits such as safety and helps in maintaining a steady heartbeat. For instance, Medtronic and St. Jude Medical offer leadless pacemakers for implantation in the right ventricle. The surge in the launches and approvals of leadless pacemakers will boost their usage for cardiac resynchronization therapy, thereby propelling the market’s growth.
Geographical segmentation and analysis of the CRT-P market
The Americas will be the largest region in the CRT-P market and will account for around 54% of the total market share by 2020. The rise in the incidences of hypertension, high cholesterol, and diabetes has resulted in the increase of cardiovascular diseases in the region. Factors such as growing investments in R&D and reduction in the selling prices of cardiac devices
Outlook of the vascular closure devices market
Vascular closure devices are used for diagnostic and therapeutic interventions and help in endovascular imaging to detect coronary artery diseases. The rising preference for minimally invasive procedures with improved medical imaging is a major factor spurring the growth this market. At present, many medical facilities have started opting for procedures that involve the use of radiotherapy and imaging technologies. This shift towards imaging technologies helps healthcare facilities to expand their treatment options for peripheral vascular diseases (PVD). If left untreated, PVD can cause heart attacks and stroke and may even lead to death. Consequently, to treat this condition, physicians have started performing angioplasty or insert stents in the blood vessels through small incisions by minimally invasive surgeries. Due to the widespread applicability of vascular closure devices, Technavio’s market research analysts have predicted that this market will grow at a steady CAGR of nearly 9% during the forecast period.
The global vascular closure devices market is dominated by the Americas, which accounted for approximately 45% of the total market share in 2015. The US was the key revenue generator for the market in this region. An increasing number of angiography procedures, patient's preference to visit cath-labs, and rising adoption of vascular closure devices for minimally invasive procedures are the key elements that contributed to the growth of this market. Additionally, factors such as recent advances in technology, in terms of product design and usage, and the availability of reimbursements for catheterization have also bolstered the prospects for market growth in the US.
Product segmentation and analysis of the vascular closure devices market
- Active approximators
Outlook of the global heart-lung machines market
According to the analysts at Technavio, the global market for heart-lung machines will grow at a slow but moderate CAGR of almost 4% by 2020. The recent increase in medical tourism, especially in APAC, is a noteworthy factor that will spur the prospects for growth in this market over the next few years. In recent times, it has been observed that the prevalence of cardiovascular diseases has increased significantly owing to the changing lifestyle in emerging economies like China and India. As these markets are currently experiencing a growing need for improved healthcare facilities, patients can access affordable healthcare services easily. Healthcare organizations in APAC offer affordable treatment, which attracts patients from developed countries such as the UK, Canada, and the US. Consequently, vendors like LivaNova have started to penetrate the market in APAC to increase their market shares.
Another factor impelling the growth prospects for this market is the advent of portable heart-lung machines. Portable heart-lung machines weigh less than conventional heart-lung machines and occupy less space in the operating room when compared to conventional heart-lung devices. These devices will be extensively used by end users from the healthcare sector as they help to reduce the economic burden on hospitals. Additionally, as these devices have the capability to operate through a rechargeable battery, they can be transported to any part of the hospital. The portability of such devices helps the physicians to provide extracorporeal circulation to patients who are in critical stage or condition.
End-user segmentation and analysis of the heart-lung machines market
- Ambulatory service center (ASCs)
During 2015, the ASCs segment dominated this market by accounting for an impressive market share of
The market for cardiovascular devices is expanding with the rising burden of cardiovascular disease. Developed countries currently dominate the market. However, the market is expected to grow significantly in developing countries due to an increased number of patients affected by cardiovascular diseases. Changing lifestyles and chronic conditions such as obesity are contributing to the growth of this market.
Vendors in the cardiovascular medical device market are focusing on developing new and improved products and technologies to address the changing market dynamics.