Comprehensive Analysis of the Clot Management Devices Market Until 2027
A thrombus or also referred as blood clot is a response to the injury so as to prevent infection and minimize the blood flow. Embolus is a part of blood-clotting, which separates from the site of thrombus and circulate through bloodstream into the body. It can hinder the function of blood vessels, leading to harmful effects in the body. There are various reasons for blood clotting such as high cholesterol, heavy weight of body, diabetes, cancer, and sedentary lifestyle. Medications such as anti-coagulants, compression stockings, surgery, stents, and vena cava filter are used for the treatment of blood clotting. These treatments prevent from formation of more blood clots in the body.
Market Dynamics- Drivers
Frequent approvals and launch of the novel clot management devices are expected to drive growth of the global clot management devices market during the forecast period. For instance, in May 2019, the U.S. Food and Drug Administration (FDA) approved Bashir Endovascular Catheter (BEC) and Bashir N-X endovascular catheter (BEC N-X) developed by a scientist from Temple University Hospital in Philadelphia, Pennsylvania and is being commercialized by Thrombolex, Inc. Furthermore, BEC received approval for its controlled infusion of fluids (thrombolytics) in peripheral vasculature and BEC N-X is being used for controlled infusion of fluids into pulmonary and peripheral vasculature.
Furthermore, key players are also trying to expand the indications of its already approved products. For instance, in February 2018, the U.S. FDA expanded indications for Trevo clot retriever, a device designed by Stryker Corporations. Trevo Retriever is the first thrombectomy device to receive approval for expansion by 18 hours of treatment time for acute ischemic stroke. Originally Trevo clot retriever had been approved in 2012.
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Moreover, inorganic growth strategies such as collaborations, partnerships, mergers, and acquisitions among key manufacturers are expected to propel the global clot management devices market growth over the forecast period. For instance, in September 2018, LeMaitre Vascular Corporation acquired vascular clot management business of Applied Medical Resources Corporation. The parties had undergone an agreement of transitional services, where Applied Medical Resources Corporation was supposed to manufacture its clot management product line for LeMaitre Vascular Corporation.
Market Restraints
High cost associated with clot management devices is expected to restrain the global clot management devices market growth over the forecast period. For instance, according to the data published by National Center for Biotechnology Information (NCBI) in 2016, the cost of 5MAX ACE catheter, used for the extraction of clots in ischemic stroke was around US$ 4,916. Hence, high cost may lead to lesser adoption of devices and thereby, hindering the global clot management devices market growth.
Regional Segmentation
Among regions, North America is expected to hold a dominant position in the global clot management devices market over the forecast period. This is owing to frequent research and development activities in the region.
For instance, in April 2019, Tufts Medical Center in Boston and Eskenazi Health, a partner with the Indiana University School of Medicine, are developing a Mobile Active Compression (MAC) calf device for prevention of deep vein thrombosis. MAC is light-weight and portable device, which can be worn around limbs, as limbs have higher risk of deep vein thrombosis. Such innovations associated with clot management devices are expected to accelerate the global clot management devices market growth.
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Current and future of global Clot Management Devices Market outlook in the developed and emerging markets
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The latest developments, market shares, and strategies that are employed by the major market players.
Competitive Landscape
Key players operating in the global clot management devices market are Edward Lifesciences Corporation, Straub Medical AG, Boston Scientific Corporation, Medtronic, Inc., Volcano Corporation, LeMaitre Vascular, Inc., Teleflex Inc., Argon Medical, Stryker Corporation, and Angiodynamics.
Global Clot Management Devices Market Taxonomy
The global clot management devices market is segmented on the basis of device type, end-users, and regions.
By Device Type
- Percutaneous Thrombectomy Devices
- Mechanical Thrombectomy
- Aspiration Thrombectomy
- Percutaneous Mechanical Thrombectomy (PMT)
- Embolectomy Balloon Catheters
- Catheter-directed Thrombolysis (CDT) Devices
- Inferior Vena Cava Filters (IVCFs)
- Permanent
- Retrievable
- Neurovascular Embolectomy Devices
By End User
- Hospitals
- Surgical Centre
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
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