Rising number of cases of stroke and venous thromboembolism (deep vein thrombosis and pulmonary embolism), as well as the approval/launch of novel mechanical thrombectomy devices, favorable clinical trial outcomes with mechanical thrombectomy, and acquisitions by leading players to strengthen their vascular portfolio and treat patients with blood clots, are driving the growth of the mechanical thrombectomy devices market.
Blood clots are a prevalent medical problem that need rapid medical intervention. Mechanical thrombectomy devices are utilized in operations to treat blood clot-caused arterial blockages. Mechanical thrombectomy can be used to treat ischemic stroke, pulmonary embolism (PE), and deep vein thrombosis (DVT).
Technological Advances in Mechanical Thrombectomy Drive Market Growth for Mechanical Thrombectomy Devices
Constant technical advances and innovations are projected to drive the global mechanical thrombectomy devices market. As an example,
- In April 2022, Penumbra announced that its Indigo Aspiration System with Lightning 7 and Lightning 12 has secured CE Mark and are now commercially available in Europe. Both technologies are part of Penumbra’s Indigo Aspiration System – now with Intelligent Aspiration for mechanical thrombectomy -and are designed for single-session arterial and venous thrombus removal, including the treatment of pulmonary embolisms.
“Existing mechanical thrombectomy treatment options do not adequately treat VTE for several reasons. Most current mechanical thrombectomy devices are designed to aspirate fresher arterial clot, which is small and soft. As a result, these devices can be inadequate and ineffective for removing the larger, older clots associated with VTE.”–General Manager, Commercial-stage Medical Device Company, APAC
The Impact of Covid-19 on the Global Mechanical Thrombectomy Devices Market
Due to Covid-19, the number of elective surgeries decreased dramatically in 2020, resulting in a market reduction. The following are possible explanations for the apparent decrease in mechanical thrombectomy performance throughout 2020-2021:
- Delays in accessing specialized care, resulting in patients presenting outside of the therapeutic window.
- Reluctance of acute ischemic stroke patients to present at emergency departments.
- Reduction in stroke occurrence during the COVID-19 pandemic as a result of mandated social distancing.
However, towards the end of 2021 fourth quarter, companies witnessed the pressure from COVID-19 gradually alleviated and businesses are now trending close to normalized run rates.
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Competitive Landscape Analysis: Mechanical Thrombectomy Devices Market
The global mechanical thrombectomy devices market is marked by the presence of established industry players such as Medtronic, Stryker, Penumbra, Boston Scientific, AngioDynamics, Control Medical, Inari Medical, among others.
Key Market Players Use Organic and Inorganic Growth Strategies to Establish a Foothold in the Mechanical Thrombectomy Devices Market
To get a bigger market share, the main companies in the mechanical thrombectomy devices market have used both organic and inorganic growth tactics such as acquisitions and new product releases. For instance,
- In April 2022, Wallaby Medical acquired phenox GmbH. phenox has a broad product portfolio covering both ischemic and hemorrhagic stroke as well as Access & Support. The key product lines of phenox include the p64/p48 range of flow diverters for the treatment of intracranial aneurysms and the pRESET range of stent retrievers for the mechanical thrombectomy of ischemic strokes.
The rising geriatric population and cases of stroke, venous thromboembolism, technological advancements in mechanical thrombectomy devices, strong product pipeline, established coding & payments for mechanical thrombectomy in key markets such as the United States, and growing awareness about mechanical thrombectomy due to patient advocacy groups and clinical society support all bode well for the mechanical thrombectomy devices market.
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Ruta Halde
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