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Blood Clot Retrieval Devices Market

Blood Clot Retrieval Devices Market Size, Share, & Growth Report 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 and Regional Industry Overview, Market Intelligence, Premium Insights, Complete Analysis, Historical Data, and Forecasts 2022 – 2030

Blood Clot Retrieval Devices Market: Overview

The global blood clot retrieval devices market size was worth USD 1.4 billion in 2021 and is estimated to grow to USD 5.12 billion by 2030, with a CAGR of approximately 15.50 percent over the forecast period.

Devices for surgical excision are another name for blood clot retrieval devices. Surgical excision is an interventional procedure frequently used on the cerebral, periphery, and arterial lumen. Stroke is a medical condition that results in inadequate blood flow, which kills brain cells.  The market is estimated to be driven by an increasing number of aging people across all developed and emerging nations. The market is anticipated to be driven by advances in technology, financed by numerous governmental and private entities. Rapid development and urbanization are also anticipated to fuel the market’s expansion. Throughout the forecast period, the market is anticipated to be driven by ongoing research into developing enhanced blood clot retrieval devices that would enhance the quality of performance of these devices. A rise in money spent on medical facilities results from rising disposable income. The market is anticipated to expand strongly throughout the projection because surgeons increasingly favor image-guided procedures. The market will grow due to increased interest in novel clot management approaches and rising thrombectomy/embolectomy device demand. Another significant element is the growing awareness among patients and medical professionals of the benefits of percutaneous thrombectomy devices over the traditional technique of eliminating clots through open surgery. Lack of qualified specialists, fruitless recanalization treatments resulting from negative results, and device malfunction during blood clot retrieval are the factors limiting the market for blood clot retrieval devices.

Blood Clot Retrieval Devices Market Drivers:

The market is predicted to rise as more people lead unhealthy lifestyles due to long workdays that don’t allow for much mobility. The market for blood clot retrieval devices is expanding due to the aging population, which also increases the prevalence of stroke in elderly patients. When patients receive medications that are ineffective for treating blood clots, blood clot retrieval devices are quite useful. The market is anticipated to expand due to increased technological breakthroughs and the introduction of new products. Increasing regulatory approval for these devices that comply with all norms and regulations will further fuel market expansion.

Blood Clot Retrieval Devices Market: Restraints

Lack of fruitless recanalization treatments resulting from negative results, and device malfunction during blood clot retrieval are the factors limiting the market for blood clot retrieval devices. Advanced technologies used in blood clot retrieval devices assist in completing clot removal with the aid of surgical procedures. With the aid of this cutting-edge equipment, surgical procedures must be performed by highly qualified and experienced personnel. During the projection period, the market’s expansion would be constrained by a lack of experienced and trained workers to operate this sophisticated machinery.

Blood Clot Retrieval Devices Market: Segmentation

The global blood clot retrieval devices market has been segmented into a stroke, devices, applications, and end users.

Based on devices, the market is classified into mechanical embolus removal devices, penumbra blood clot retrieval devices, stent retrievers, aspiration devices, and ultrasound-assisted devices. In 2021, the mechanical embolus removal devices category dominated the global market. Comparing this equipment to all the other blood clot retrieval tools on the market, it is quite affordable. The lifespan of a patient after surgery is anticipated to rise with the introduction of blood clot retrieval devices. These gadgets are anticipated to have a bigger market share and to be in high demand over the projection period due to the increase in survival time caused by their use compared to previously used medical care. Additionally, the ultrasound-assisted devices segment is anticipated to grow at a significant rate. The blood clot retrieval devices market is starting to pay more attention to the ultrasound-assisted devices market. The market has very little of this product available. The primary motivator for this device is its accuracy and precision in quickly identifying blood clots and treating patients in less invasive ways that do not involve major procedures. The average time of the patient’s stay will be cut in half.

Based on end users, the market is classified into hospitals, diagnostic centers, clinics, and ambulatory surgical centers. In 2021, the hospital’s segment dominated the global market owing to the availability of cutting-edge technologies and top-notch infrastructure. Additionally, hospitals execute most interventional operations in comparison to other settings. The market will develop due to having all the amenities under one roof. Hospitals are the most practical setting for surgical procedures, including clot retrieval tools. This segment is anticipated to compete for more than all other accessible segments in every country. Besides, the ambulatory surgical center’s category is anticipated to grow at a significant rate. Most simple or non-invasive treatments can be performed in ambulatory surgical centers. The important element driving the market for ambulatory surgery centers is favorable reimbursement possibilities for the services offered by these facilities. Ambulatory surgical centers are popular for surgical operations, especially minor ones, in industrialized countries because of medical coverage provided by both state-run and commercial healthcare insurance. Most surgeries performed at ambulatory surgery centers don’t require a hospital stay, and they’re typically less expensive than procedures done in hospitals.

Blood Clot Retrieval Devices Market: Regional Landscape

Asia Pacific region dominated the market for blood clot retrieval devices in 2021. The Asia Pacific region’s blood clot retrieval devices market is expected to expand significantly over the forecast period due to these expanding partnerships between global firms and regional players. Two key factors fueling the market’s expansion are the rise in medical industry mergers and shifting governmental regulations. In these underdeveloped countries, labor is inexpensive, and raw materials can be found simply and for less money. These two elements encourage the expansion of developing economies. Due to the government’s ongoing efforts to provide citizens with better facilities, the Asia Pacific area will experience healthy growth. More people are becoming aware of attractive reimbursement policies.

Blood Clot Retrieval Devices Market: Competitive Landscape

Some of the main competitors dominating the global blood clot retrieval devices market include – Angio Dynamics, Terumo Co., Johnson and Johnson, ECKOS Co., Bayer HealthCare LLC, Boston Scientific Co., Argon Medical Devices, Medtronic Plc, Teleflex Incorporated, Penumbra.

Recent Developments

  • In 2021- the first patient will receive treatment from Neuromas Technologies, Inc.’s “ENVITM-SR Mechanical Thrombectomy System,” a stent-retriever created by the business. Patients with strokes can have blood clots removed using the device.
  • In 2019-Johnson & Johnson Medical Devices established A Registry to Study Stroke-Inducing Blood Clots Removed by Thrombectomy. This project is beneficial since it provides a variety of equipment suitable for the endovascular treatment of hemorrhagic and ischemic stroke.

COVID-19 Impact on Blood Clot Retrieval Devices Market:

The COVID-19 epidemic had an impact on almost all sectors negatively. The practice of performing elective surgeries by the healthcare system had slowed the market for surgical procedures that were not necessary. They were lined as necessary to reduce the potential of cross-infection between patients and medical personnel. It is anticipated that significant government involvement in wealthy and developing countries will alter the demand and supply chains. There was a shortage of raw materials due to the strict lockdown imposed by the governments of many countries, which hindered local transportation infrastructure. The disrupted production channel had a significant impact on the demand and supply chain.

Global Blood Clot Retrieval Devices Market is segmented as follows:

Blood Clot Retrieval Devices Market by Stroke

  1. Ischemic Stroke (Blood Clot)
  2. Hemorrhagic Stroke (Rupturing of Arteries)
  3. Transient Ischemic Attack

Blood Clot Retrieval Devices Market by Device

  1. Mechanical Embolus Removal Devices
  2. Penumbra Blood Clot Retrieval Devices
  3. Stent Retrievers
  4. Aspiration Device
  5. Ultrasound Assisted Devices

Blood Clot Retrieval Devices Market by Application

  1. Coronary Arteries
  2. Peripheral Arteries
  3. Cerebral Arteries

Blood Clot Retrieval Devices Market by End User

  1. Hospitals
  2. Diagnostic Centers
  3. Clinics
  4. Ambulatory Surgical Centers

Blood Clot Retrieval Devices Market by Region

  1. North America
    • The U.S.
    • Canada
    • Mexico
  2. Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  3. Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
    • Rest of Southeast Asia
  4. The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of the Middle East & Africa
  5. Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
Blood Clot Retrieval Devices Market Report Scope
Report AttributeDetails
Market Size Value in 2022USD 1.61 billion
Revenue Forecast in 2030USD 5.12 billion
Growth RateCAGR of 15.5 % from 2022 to 2030
Base Year for Estimation2021
Historical Data2017 – 2021
Forecast Years2022 – 2030
Quantitative UnitsRevenue in USD million and CAGR from 2022 to 2030
Report CoverageRevenue forecast, company ranking, Trends
competitive landscape, and growth factors
Segments CoveredStroke, Device, Application, End User, and Region
Regional ScopeNorth America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country ScopeU.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others
Key Companies ProfiledAngio Dynamics, Terumo Co., Johnson and Johnson, ECKOS Co., Bayer HealthCare LLC, Boston Scientific Co., Argon Medical Devices, Medtronic Plc, Teleflex Incorporated, Penumbra.

Frequently Asked Questions

The main reasons anticipated to propel the blood clot retrieval devices market during the forecast period due to the desire for minimally invasive techniques and the reimbursement options offered by insurance companies.
According to the report, the global blood clot retrieval devices market size was worth USD 1.4 billion in 2021 and is estimated to grow to USD 5.12 billion by 2030, with a compound annual growth rate (CAGR) of approximately 15.50 percent over the forecast period.
The Asia Pacific region dominated the market for blood clot retrieval devices in 2021 due to these expanding partnerships between global firms and regional players.
Some of the main competitors dominating the global blood clot retrieval devices market include – Angio Dynamics, Terumo Co., Johnson and Johnson, ECKOS Co., Bayer HealthCare LLC, Boston Scientific Co., Argon Medical Devices, Medtronic Plc, Teleflex Incorporated, Penumbra.

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