Global Blood Clot Retrieval Devices Market 2017-2021

Blood clot retrieval devices market forecast

According to the blood clot retrieval devices industry analysis, the global blood clot retrieval devices market will grow at a CAGR of close to 7% during the forecast period. The availability of favorable reimbursement policies will drive the growth prospects for the market until the end of 2021.

The favorable reimbursement policies encourage people to adopt blood clot retrieval devices on a large scale. For instance, Medtronic offers a reimbursement policy that provides security and coverage for the payment of comprehensive professional services. However, Medtronic does not promote the use of its products outside FDA-approved labeling. Reimbursements are available for procedures such as acute ischemic stroke using a thrombolytic agent with major complication and comorbidity (MCC) and complication and comorbidity (CC) and acute ischemic stroke using thrombolytic agent without CC or MCC. Similarly, the coverage for Medicare MS-DRGs (Medicare Severity Diagnosis Related Groups) includes ICD-10 diagnosis & ICD-10 procedural codes.

Blood clot retrieval devices market growth based on geography

In terms of geographic regions, the Americas accounted for the majority market share during 2016 and will continue its market dominance during the next four years as well. The US is the major revenue generator in the region. The rise in prevalence of ischemic stroke that blocks the blood flow to the brain will drive the adoption of blood clot retrieval devices in this region.

Blood clot retrieval devices market capacity: Competitive landscape and key vendors

The blood clot retrieval devices market is characterized by the presence of established players. Tier-1 companies in the market are focusing on research and developmental activities. This helps them to develop products with emerging technologies to carry out procedures that involve accurate and perfect treatment. Companies are taking efforts to increase their market shares by creating a strong product portfolio. Vendors are increasingly competing against each other based on factors such as distribution and partnerships, market penetration in new geographic regions, and product precision.

Key vendors in the blood clot retrieval devices market

• Argon Medical Devices
• Boston Scientific
• Medtronic

Blood clot retrieval devices market segmentation by product

• Mechanical embolus removal devices
• Stent retrievers
• Ultrasound-assisted devices

Mechanical embolus removal devices are highly preferred over other products because they offer a bridging strategy between intravenous and intra-arterial thrombolytic therapy. These devices benefit patients by directly reaching the affected regions and dissolving the clot. During 2016, this segment contributed the majority of the shares of the blood clot retrieval devices market since these devices are highly cost-effective. The mechanical thrombectomy device used for the treatment of acute ischemic stroke increases the survival time in comparison to standard medical therapy. This will increase the adoption of mechanical thrombectomy device and will boost the blood clot retrieval devices market size in the forthcoming years. 

Blood clot retrieval devices market status based on end-user

• Hospitals and specialty clinics
• ASCs

A large number of individuals prefer hospitals over other healthcare units because they procure medical products and consumables on bulk and engage closely with many suppliers, reimbursement authorities, and government organizations. The advanced medical infrastructure and the availability of high-quality blood clot retrieval facilities will drive the preference of patients towards hospitals in the coming years.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global blood clot retrieval devices market?
• What are the key market trends impacting the growth of the global blood clot retrieval devices market?
• What are the challenges to market growth?
• Who are the key vendors in the global blood clot retrieval devices market?
• What are the market opportunities and threats faced by the vendors in the global blood clot retrieval devices market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global blood clot retrieval devices market?

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