2020 was an unusual year mainly because of the global COVID-19 pandemic, which caused a decrease in the Global Atherectomy Market from 2019 to 2020. While the value of the total atherectomy device market decreased in 2020, due primarily to COVID-19, iData forecasts that the market is expected to grow over the forecast period following a quick recovery, moderated by ASP depreciation. To learn even more about the global atherectomy market, specifically the coronary and peripheral atherectomy markets, continue reading below.
CORONARY ATHERECTOMY MARKET INSIGHTS
The largest market for coronary atherectomy devices was the North American region. Within this region, many use the mechanical atherectomy devices for the majority of atherectomy procedures. As a result, the mechanical atherectomy devices account for the majority of the total units sold. Despite this, competitive pricing pressure and bundling of interventional cardiology devices has led to ASP depreciation. The depreciation in ASPs limits the market value growth in the mechanical atherectomy segment.
Overall, the global market size for coronary atherectomy devices slightly decreased in 2020, due primarily to the COVID-19 pandemic. However, the market is expected to grow over the forecast period following a quick recovery in early 2021, moderated by ASP depreciation.
PERIPHERAL ATHERECTOMY MARKET INSIGHTS
Similar to the coronary atherectomy market, the largest market for peripheral atherectomy devices was the North American region. Both the peripheral and coronary atherectomy devices operate on the same principles. Because of this, the mechanical atherectomy segment also accounted for the vast majority of the total market within this region. However, new competitors are seeking to enter the laser atherectomy market in North America. An increase in the amount of new competitors may shift the ratio slightly in favor of laser atherectomy usage.
All in all, many global regions show a trend amongst physicians of minimizing the number of permanent devices placed inside patients. The trend is a result of the need for frequent follow-up treatments removing thrombi from stents. Additionally the trend encourages the reduction of future treatment options. This has resulted in an increasing number of atherectomy procedures performed within regions, boosting the global peripheral atherectomy device market growth.
SIMILARITIES/DIFFERENCES BETWEEN PERIPHERAL AND CORONARY ATHERECTOMY DEVICES
Coronary atherectomy devices operate on the same principles as peripheral atherectomy devices. However, due to the coronary arteries being much smaller in diameter, the technical specifications required are different. As a result, manufacturers created far fewer atherectomy products for the coronary market. Ironically, many companies and manufacturers have chosen not to apply some of the latest advances in atherectomy device design to the coronary market. In addition, the widespread use of drug-eluting stents (DES) in the coronary market, which are effective at treating calcified lesions, limits the demand for coronary atherectomy.
WHICH COMPANIES COMPETE IN THIS MARKET?
The top competitors are Medtronic and Boston Scientific.
Medtronic was the market share leader in the global peripheral atherectomy market in 2020. In 2015, the company acquired a well-established atherectomy market player, Covidien. The acquisition of Covidien earned Medtronic a top position in the global market. Within the hospital market segment, the company generated the majority of its peripheral atherectomy device revenue with its HawkOne™ product line, with TurboHawk™ being the next largest contributor.
In 2020, Boston Scientific was the market share leader in the global coronary atherectomy market. The company’s position is primarily attributable to its stronghold of the mechanical atherectomy market segment. Boston Scientific’s top-selling product, Rotablator™, is a mechanical atherectomy device that is used in calcified lesions
GLOBAL ATHERECTOMY MARKET RECAP AND FURTHER INSIGHTS
For more information on unit sales, average selling prices (ASPs), procedural volume, competitive analyses, and more, follow the link below to receive a free market synopsis for the Global Atherectomy Market Report, which is a part of our Global Interventional Cardiology Market Report series.