Microvascular blood clot retrieval devices are widely used for the removal of blood clots from small blood vessels to restore normal circulation in patients undergoing surgeries for aneurysms, trauma, lower extremity bypass, and other conditions. These devices are commonly used in neuro, peripheral, and cardiovascular surgeries. The need for microvascular clot removal arises due to the complications of various surgeries and vascular disorders.
The Global Blood Clot Retrieval Devices Market is estimated to be valued at USD 1.62 Bn in 2024 and is expected to exhibit a CAGR of 15.3% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the microvascular blood clot retrieval devices are Stryker Corporation, Medtronic plc, Johnson & Johnson, Boston Scientific Corporation, Edwards Lifesciences Corporation. Stryker Corporation leads the market with over 30% market share owing to its diverse product portfolio in clot removal devices.
The key opportunities in the microvascular Blood Clot Retrieval Devices Market Growth comprise increasing adoption of minimally invasive surgeries and growing number of endovascular procedures worldwide. The rising prevalence of vascular diseases attributed to changing lifestyles will further drive the adoption of microvascular clot retrieval technologies.
Major players are focusing on expanding their geographical presence in emerging markets through partnerships and acquisitions. Boston Scientific has expanded in Latin America and Asia Pacific regions in the last two years. Edwards Lifesciences acquired CAS Medical Systems focusing on peripheral vascular diseases in 2018.
Market Drivers
Growing geriatric population globally is leading to rising incidence of vascular diseases such as deep vein thrombosis, pulmonary embolism and peripheral artery disease. This is expected to generate more surgical procedures and drive the need for microvascular clot retrieval devices.
Market Restrains
High cost of advanced microvascular clot retrieval devices is a major barrier for widespread adoption, especially in low and middle-income countries. Reimbursement issues associated with new technologies may also limit market growth.
Segment Analysis
This market can be segmented based on product type into mechanical embolus removal devices and stent retrievers. Stent retrievers hold the largest market share currently as they are effective for moderate to severe ischemic strokes and result in better revascularization as compared to other devices.
Global Analysis
Regionally, North America dominates the global market for blood clot retrieval devices currently. Growth in the region can be attributed to factors such as increasing incidence of ischemic strokes, rising availability of advance stroke treatment options and growing awareness regarding importance of mechanical thrombectomy. Asia Pacific is poised to witness the highest CAGR during the forecast period owing to rapidly increasing geriatric population, growing healthcare spending, rising awareness about treatment of strokes and improving healthcare infrastructure.
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