Atherectomy Devices Market will Going to be Worth US$735 mn by the End of 2022

Global Atherectomy Devices Market: Snapshot

The global atherectomy devices market is growing at a high rate with the development of the medical infrastructure. The participation of new players and the advent of new and effective products are projected to ensure the growth of the market in the coming years. In addition to this, the commercialization of atherectomy devices is projected to generate growth prospects for the players worldwide. The leading players are making efforts to create an awareness among people concerning the availability of devices and therapeutics. This is expected to support the overall development of the atherectomy devices market in the coming few years.

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As per the study by TMR, the global atherectomy devices market stood at US$558.9 mn in the year 2017. The market is projected to reach US$735 mn by 2022. Furthermore, the market is likely to register a 5.60% CAGR from 2017 to 2022.

Technological Advancements to Propel Atherectomy Devices Market

The growing demand from people for minimally invasive procedures and the rising pool of patients are the key factors that are anticipated to encourage the development of the global atherectomy devices market in the coming years. The growing focus on technological developments and the introduction of new products are estimated to encourage the development of the market in the near future. In addition to this, the increasing research activities and the rapid development of the medical infrastructure are further estimated to ensure the market growth in the coming years.

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On the other hand, in developing nations, there is low awareness among people concerning the easy availability of disease diagnosis and therapeutics, which is predicted to hamper the market growth in the coming years. Also, the lack of well-trained surgeons are estimated to further restrict the market growth in the near future. Nonetheless, the increasing government initiatives and expenditure is estimated to support the development of the overall market in the next few years. Also, the key players are targeting on emerging economies, which offers potential growth opportunities in the near future.

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North America Market to Lead with Favorable Government Initiatives

From a geographical stance, the North America market is predicted to claim for a massive share of the atherectomy devices market in the coming few years. The favorable reimbursement environment and the growing demand for minimally invasive procedures are the main factors that are estimated to accelerate the market growth in the next few years. Europe is projected to retain its second-leading position and register a promising growth rate in the coming years. Furthermore, the rising geriatric population and the increasing contribution from India, China, and Japan are projected to ensure a healthy growth of the market in the next few years.

The global market for atherectomy devices is considered to have a high level of competition among the players in the coming few years. The key players in the market are making ardent efforts to maintain their position by focusing on the development of new products and technological developments. In addition, the rising number of collaborations and partnerships is projected to create potential growth opportunities for the players in the coming few years. The leading players in the atherectomy devices market are Boston Scientific Corp., Avinger Inc., Royal Philips NV, Spectranetics Corp., Terumo Corp., Medtronic Plc, and Cardiovascular Systems Inc.

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My name is Pragya Tripathi and I work with the Digital Marketing and Editorial team of Transparency Market Research, a market intelligence firms based in India & Usa.