Blood Clot Retrieval Devices Market: Overview with Detailed Analysis, Competitive landscape Forecast

Blood clot retrieval devices are also known as thrombectomy devices. Thrombectomy is an interventional procedure, performed primarily on coronary arteries, peripheral arteries, and cerebral arteries. Stroke is a medical condition that causes brain cell death due to poor blood flow. The two types of stroke are ischemic and hemorrhagic. Ischemic stroke is caused due to lack of blood flow to the brain, while hemorrhagic stroke is caused due to internal bleeding. In case of ischemic stroke, a blood clot blocks an artery supplying the brain because of which brain cells in the affected area are starved of oxygen and are damaged or die. According to the American Heart Association, on average, 800,000 new strokes are reported each year, of these 80% are ischemic and the remaining are hemorrhagic.

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Rise in prevalence of stroke, advancement in technology, government initiatives & funding for research & development of upgraded thrombectomy devices, sedentary & unhealthy lifestyle of people, favorable reimbursement policies, and increase in the geriatric population are projected to fuel the growth of the global blood clot retrieval devices market during the forecast period. However, cost ineffectiveness of surgical procedures & devices and failure of devices during blood clot retrieval procedures because of lack of skilled personnel are factors anticipated to restrain the global market during the forecast period.

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The global blood clot retrieval devices market can be segmented based on stroke type, device type, end-user, and region. In terms of device type, the global blood clot retrieval devices market can be classified into coil retrievers, aspiration devices, stent retrievers, and ultrasound assisted devices. The stent retrievers segment dominated the global blood clot retrieval devices market in 2017, as successful and better recanalization results were observed among patients where stent retrievers were used to retrieve blood clot. Moreover, rapid and wide adoption of stent retrievers fuel the growth of the stent retrievers segment. Coil retrievers, also known as MERCI retriever, i.e. Mechanical Embolus Removal in Cerebral Ischemia, are projected to contribute to the growth of the global blood clot retrieval devices market during the forecast period, as these are highly cost-effective compared to other clot retrieval devices. Furthermore, adoption of mechanical thrombectomy devices in the treatment of acute ischemic stroke is anticipated to increase in the near future because of rise in survival time compared to standard medical therapy.

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Based on stroke type, the global blood clot retrieval devices market can be categorized into ischemic, hemorrhagic, and others. The others segment consists of transient ischemic attack. The ischemic segment dominated the global blood clot retrieval devices market in 2017. According to the American Heart Association, on average, 800,000 new strokes are reported globally each year, of these 80% are ischemic and the rest are hemorrhagic.

In terms of end-user, the global blood clot retrieval devices market can be divided into hospitals, ambulatory surgical centers, specialty clinics, and others. The others segment consists of academic institutes. The hospitals segment dominated the global blood clot retrieval devices market in 2017, as maximum interventional procedures are performed in hospitals. Moreover, hospitals are more preferred option by patients.

Based on region, the global blood clot retrieval devices segment can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America was the leading market for blood clot retrieval devices in 2017 because of better reimbursement policies. Europe was the second leading market for blood clot retrieval devices in 2017, due to large number of deaths because of stroke each year. The blood clot retrieval devices market in Asia Pacific is expected to grow at a rapid pace during the forecast period owing to evolving health care infrastructure. Moreover, multinational players offer blood clot retrieval devices at lower prices to tap the opportunities available in the region.

Key players operating in the global blood clot retrieval devices market include Medtronic, Penumbra, Inc., Boston Scientific Corporation, Concentric Medical, Inc. (Stryker), Argon Medical Devices, Teleflex Incorporated, and Terumo Corporation.

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