Medi-Tech Insights: The growing cases of stroke, venous thromboembolism (deep vein thrombosis & pulmonary embolism), approval/launch of novel mechanical thrombectomy devices, favorable clinical trial outcomes with mechanical thrombectomy and acquisitions by leading players to fortify their vascular portfolio, and treat patients with blood clots are driving the growth of the mechanical thrombectomy devices market.
BRUSSELS, BELGIUM, Nov. 16, 2022 (GLOBE NEWSWIRE) --
Blood clots are a common health concern that requires immediate medical attention. Mechanical thrombectomy devices are used in procedures used to treat arterial blockages caused by blood clots. The conditions that are treatable by a mechanical thrombectomy are ischemic stroke, pulmonary embolism (PE), and deep vein thrombosis (DVT).
Technological Advancements in Mechanical Thrombectomy Fuels the Growth of the Mechanical Thrombectomy Devices Market
The global mechanical thrombectomy devices market is expected to be bolstered by constant technological advancements and innovations. For instance,
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
Covid-19 Impact on the Global Mechanical Thrombectomy Devices Market
In 2020, the number of elective procedures reduced significantly due to Covid-19 which resulted in a decline in the market. Plausible reasons for the apparent reduction in the performance of mechanical thrombectomy during 2020- 2021 are as follows:
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.
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.
Organic and Inorganic Growth Strategies Adopted by Key Market Players to Establish Their Foothold in Mechanical Thrombectomy Devices Market
The leading players operating in the mechanical thrombectomy devices market have adopted both organic and inorganic growth strategies such as acquisitions and new product launches to garner a larger market share. 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 outlook for the mechanical thrombectomy devices market looks quite promising due to 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 USA and growing awareness about mechanical thrombectomy due to patient advocacy groups and clinical society support.
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