Plaque Modification Devices Market to Reach US$ 2.1 Bn by 2027: TMR

- The global plaque modification devices market is driven by rise in prevalence of atherosclerosis, coronary & peripheral artery diseases, and hypertension

- Development of advanced technical devices, and initiatives taken by governments to increase awareness about plaque deposition and its associated risks

News provided by

Transparency Market Research

Mar 05, 2020, 10:30 ET

ALBANY, New York, March 5, 2020 /PRNewswire/ -- According to the report, the global plaque modification devices market was valued at ~US$ 1.1 Bn in 2018 and is projected to expand at a high CAGR during the forecast period. Plaque modification devices are utilized for the removal of plaque and other debris from the arteries, which carry the blood to the heart and brain. Aggressive technologies such as rotational atherectomy, directional atherectomy, laser atherectomy, and orbital atherectomy are recommended for removal of plaque and other deposits. Thrombectomy, chronic total occlusion, and embolic protection are the other plaque removal procedures adopted globally. Innovative technology such as image-guided atherectomy is likely to offer significant opportunities in the global market.

Favorable reimbursement policies and increase in trend of adoption of minimal invasive surgeries are expected to fuel the growth of the global plaque modification devices market. Rise in investments by companies to develop and launch novel devices is likely to boost the growth of the global plaque modification devices market.

Read Detailed TOC of the Report - https://www.transparencymarketresearch.com/report-toc/76221

North America dominated the global plaque modification devices market in 2018 and the trend is anticipated to continue during the forecast period. The region's dominance can be ascribed to the presence of key players, increase in incidence of atherosclerosis, rise in prevalence of coronary & peripheral artery diseases, increase in incidence of hypertension, and surge in awareness about heart diseases. However, higher cost of advanced plaque modification surgeries are likely to restrain the global plaque modification devices market during the forecast period.

Rise in Prevalence of Atherosclerosis to Propel Global Market

Atherosclerosis is characterized by deposition of plaque inside the arteries, which in turn reduces the blood flow to the heart or other parts of the body. Plaque is caused by excess deposition of fat, cholesterol, calcium, and other substances in the arteries. A journal published on Omics International stated that atherosclerosis accounts for 32% deaths and has a prevalence of 13.8% among adults.

According to research published on NCBI, atherosclerosis accounted for 50% deaths in the West in 2019. In the U.S., heart disease accounts for 610,000 deaths every year and coronary heart disease caused by plaque deposition accounts for around 370,000 deaths in the West each year. Moreover, 75% of the acute myocardial infarctions is caused by plaque rupture, which is highly prevalent in men aged over 45.

Download A PDF Brochure of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=76221

Rapid Adoption of Minimal Invasive Surgeries to Drive Global Market

Minimal invasive surgeries recommended for the removal of plaque or the treatment of atherosclerosis include atherectomy, thrombectomy, and chronic total occlusion. These are advanced procedures utilized to remove clots and blockages from the arteries. Rise in awareness and expertise boosts adoption of minimal invasive surgeries across the globe. The minimal invasive surgery is safer than open surgery and hence, higher adoption rate of advanced instruments and procedures is likely to drive the global market.

Coronary Artery Diseases to Drive Global Market

In terms of application, the coronary artery diseases segment is likely to grow at a faster pace during the forecast period. Coronary artery disease is the most common heart condition caused by plaque deposition. Rise in prevalence of coronary artery disease across the globe is projected to propel the adoption of plaque modification devices. Rise in prevalence of coronary artery disease enables companies to launch their products and strengthen their geographic presence. This factor is likely to boost the growth of the global plaque modification devices market.

According to a research, coronary artery disease accounts for deaths of 3.8 million men and 3.4 million women across the globe each year. Coronary artery disease accounts for 1.95 million deaths in Europe every year. Rise in prevalence of hypertension, smoking, and other lifestyle diseases leads to increase in the deposition of plaque in the arteries, which in turn drives demand for plaque modification devices.

Inquire for a Sample Copy of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=76221

Plaque Modification Devices Market: Prominent Regions

In terms of region, the global plaque modification devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global plaque modification devices market in 2018, followed by Europe. North America accounted for major share of the global plaque modification devices market in 2018.

This can be attributed to the large patient pool suffering from atherosclerosis, peripheral, and coronary artery disease, rise in trend of minimal invasive surgery, prevailing hypertension, and adoption of innovative plaque modification devices, favorable reimbursement policies, and presence of key players in the region. Technological advancements leading to development of innovative atherectomy procedures is another major factor expected to augment the market in North America. The plaque modification devices market in Asia Pacific is likely to expand at a higher CAGR from 2019 to 2027.

This can be attributed to rise in prevalence of cardiovascular diseases, increase in healthcare expenditure, and large patient population including geriatric population in countries such as Japan and China. Initiatives taken by the governments of countries in the region and presence of key players offering innovative plaque modification devices are projected to boost the growth of the plaque modification devices market in Asia Pacific.

Purchase this Report - https://www.transparencymarketresearch.com/checkout.php?rep_id=76221&ltype=S

Expansion of Product Portfolio through Launch of Innovative Devices and Partnerships by Key Players to Drive Global Market

The global plaque modification devices market is consolidated in terms of number of players. The market is dominated by small number of key players with strong distribution network. Leading players operating in the global plaque modification devices market include Boston Scientific Corporation, B. Braun Melsungen, Becton, Dickinson and Company, Cardinal Health, Medtronic, Cardiovascular Systems, Inc., Microvention, Inc. (Terumo), Penumbra, Inc., Biotronik, Stryker, and Codman Neuro (Johnson & Johnson).

Global Plaque Modification Devices Market: Segmentation

Plaque Modification Devices Market, by Product Type

Atherectomy Devices
Thrombectomy Devices
Chronic Total Occlusion (CTO) Devices
Embolic Protection Devices (EPD)

Plaque Modification Devices Market, by Application

Coronary Artery Disease
Peripheral Artery Disease
Neurovascular Disease
Others

Plaque Modification Devices Market, by End User

Hospitals
Specialty Clinics
Ambulatory Surgical Centers

Plaque Modification Devices Market, by Region

North America

U.S.
Canada

Europe

U.K.
Germany
France
Italy
Spain
Rest of Europe

Asia Pacific

China
India
Japan
Australia
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

GCC Countries
South Africa
Rest of Middle East & Africa

Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:

Atherectomy Devices Market - 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.

Thrombectomy Devices Market - The global thrombectomy devices market is anticipated to rise at a steady 6.1% CAGR throughout the forecast tenure from 2017 to 2022. In 2017, the valuation of the thrombectomy devices market was US$1.47 bn and is expected to reach US$ 1.94 bn by the end of 2022.

Minimally Invasive Surgery (MIS) Market - The global minimally invasive surgery (MIS) market (laparoscopic surgery, robotic surgery, EMR, ESD) was valued at US$ 1.1 Bn in 2017 and is projected to expand at a CAGR of 9.2% from 2018 to 2026. The endoscopic mucosal resection segment dominated the global M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) market in 2017.

Gain access to Market Ngage, an AI-powered, real-time business intelligence that goes beyond the archaic research solutions to solve the complex strategy challenges that organizations face today. With over 15,000+ global and country-wise reports across 50,000+ application areas, Market Ngage is your tool for research on-the-go. From tracking new investment avenues to keeping a track of your competitor's moves, Market Ngage provides you with all the essential information to up your strategic game. Power your business with Market Ngage's actionable insights and remove the guesswork in making colossal decisions.

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision."

Contact:
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Website: http://www.transparencymarketresearch.com

SOURCE Transparency Market Research