According to Custom Market Insights (CMI), The Global Blood Clot Retrieval Devices Market presented a growth of USD 1.6 billion and is expected to reach USD 4.5 billion and grow at a compound annual growth rate of 15.9 % during the forecast period till the year 2030.
The rise in the health conditions such as transient ischemic attacks, hemorrhagic stroke, and ischemia due to sedentary lifestyle practices has given rise to the blood clot retrieval devices market. It is mainly a surgical process that includes the retrieval of blood clots from the individual’s brain to reduce the risk of stroke, paralysis, and speech disorders.
The unhealthy lifestyle practiced by the younger generation and the geriatric age group has increased the prevalence of such grave diseases. The demand for the least invasive procedures and reimbursement facilities provided by insurance companies will help boost the market during the forecast period.
Browse the full “Blood Clot Retrieval Devices Market Size, Trends and Insights By Stroke Type (Ischemic Stroke (blood clot), Hemorrhagic Stroke (rupturing of arteries), Transient Ischemic Attack), By Device Type (Mechanical Embolus Removal Devices, Penumbra Blood Clot Retrieval Devices, Stent Retrievers, Ultrasound Assisted Devices), By End Use (Hospitals, Diagnostic Centers, Clinics, Ambulatory Surgical Centers), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/blood-clot-retrieval-devices/
Market Dynamics
Drivers
This helps reduce the number of side effects patients suffer during the postoperative period. The life expectancy of people in the geriatric age group has also seen steady growth due to using such medical devices. These multiple factors provide better healthcare facilities to the population and help the market to record significant growth. The high number of people belonging to the geriatric age group has propelled the number of people suffering from chronic and complex cardiovascular diseases, neurological disorders and vascular impairments. Hence, the use of blood clot retrieval equipment has recently increased.
Restraints
The use of blood clot retrieval equipment includes highly advanced technologies that help complete clot removal with the help of surgical procedures. To perform surgical procedures with the help of this advanced equipment, highly skilled and experienced individuals are required.
The lack of skilled and trained employees for the operation of this advanced equipment proves to be a restraining factor for the market’s growth during the forecast period. A few surgical procedures which fail due to mechanical faults or conditional errors hamper the confidence that the population might show in this equipment. Hence it hampers the growth of the market worldwide. The malfunctioning of the equipment after installation of the same in the human body increases the patients’ total suffering by reopening the treated areas and thus doubling the expenses.
Opportunities
The developed medical products used for inserting urine catheters have made the process easier and quicker. The geriatric population has increased the number of people suffering from cardiac and neurological disorders, mostly clots and blockages. These disorders are treatable with the minimum invasive procedures, which are done with the help of clot retrieval equipment. The pandemic has made people aware of healthcare facilities and health practices that benefit the body. Hence, people have shown a drastic shift to minimally invasive surgical techniques rather than big and long procedures that have greater side effects and take longer to heal.
Challenges
The high cost that needs to be paid for these advanced technologies to remove blood clots from clogged vascular systems challenges the market’s growth during the forecast period. Countries with lower socioeconomic backgrounds that have not yet developed cannot afford these equipment and surgical procedures. Malfunctioning the blood-driving machinery during a procedure is still a challenge in front of the market, which needs a solution at the earliest to maintain trust in this new technology. In the event of a failure of the procedure, a second surgery needs to be performed to make things perfect.
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Report Highlights
Based on the stroke type, the Ischemic segment will dominate the global blood clot retrieval devices market during the forecast. Due to an increase in the number of ischemic strokes globally, the demand for blood clot retrieval devices is expected to grow. Of all the cases of strokes repeated globally, 80% are ischemic strokes.
Based on the end user, the hospital segment dominated the global blood clot retrieval devices market as most patients prefer hospitals. The hospital segment is expected to grow during the forecast as the hospital’s interventional processes are carried out. Due to the large infrastructure of the hospitals with the availability of all the facilities under one roof, the segment is expected to grow during the forecast period.
The Asia Pacific region is expected to dominate the blood clot retrieval devices market in the coming years. Due to an investment in developing healthcare infrastructure across many countries in the Asia Pacific region, the market is expected to grow in this region. The availability of the devices at a lower cost compared to other countries or regions will provide an opportunity for market growth.
Regional Snapshots
As a result of the rapid development and the use of advanced technology in leading Nations such as North America, the prevalence of numerous heart and brain disorders has increased owing to the sedentary and unhealthy lifestyles in these regions. The Asia Pacific countries such as China and India have also adopted several advanced technologies, which have increased the sedentary lifestyle practices by the population and increased the chances of strokes and ischemic attacks among individuals.
Key Player
- AngioDynamics
- Terumo Co.
- Johnson and Johnson
- ECKOS Co.
- Bayer HealthCare LLC
- Boston Scientific Co.
- Argon Medical Devices
- Medtronic Plc
- Teleflex Incorporated
- Penumbra
Recent Developments
A) A recently developed stent retrieval machine is developed by the Cerenovus Co., a global medical equipment manufacturer. It is known as Embotrap 2, which removes the life-threatening blood clots from the brain resulting in ischemic stroke. It has received clearance from the FDA (US), which will help the company develop its product value and sales. This took place in 2018.
B) In 2021, TigerRetriever was launched by Rapid Medical. It is a huge manufacturer of responsive, adjustable devices relating to the neurovascular system. The main role of the device is to revascularize the channels during the procedures for ischemic stroke.
Table of Contents: https://www.custommarketinsights.com/report/blood-clot-retrieval-devices/#table-of-contents
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