The Chronic Total Occlusion (CTO) Market size is projected to reach US$ 801.16 million by 2031 from US$ 395.66 million in 2022. The market is expected to register a CAGR of 8.23% in 2023–2031. The market growth can be attributed to rising minimally invasive devices, increasing prevalence of cardiovascular diseases, demand for chronic total occlusion devices, and innovation in occlusion devices by market manufacturers.
CTO is common in patients suffering from coronary artery diseases especially those with a history of coronary artery disorder. It is a severe form of cardiac disease, where blood vessels get blocked. The rising prevalence of CTO globally and demand for minimally invasive surgery is a major factor driving the market growth.
North America is the largest market for Chronic Total Occlusion market growth with the US holding the largest market share followed by Canada. The North American chronic Total Occlusions Market is driven by the increasing prevalence of Coronary artery disease (CAD) is one of the major concerns globally, which further demands medical device such as CTO. CTO is a type of coronary disease where the coronary artery is almost completely blocked for three months. Additionally, advancements in cardiovascular devices along with a focus on the emergence of interventional technique that uses CTO devices are anticipated to boost the overall market growth.
According to the article published in the AHA Journal in July 2024, Coronary disease-related chronic total occlusions were identified in 18.4% to 20% of coronary artery patients with coronary artery disease with an incidence that increases with age. Additionally, the article also states that less than 10% of all CTOs are treated with percutaneous techniques. Another article published in NCBI in January 2021, states that CTO was present in approximately 20% of patients undergoing coronary angiography. Hence, the rising prevalence of CTO is anticipated to drive the overall market.
During the past several decades, significant advancements have been observed in dedicated materials and techniques of CTO has led to a dramatic increment in the success rate of CTOs. The market has witnessed dramatic technological developments with the increasing prevalence of coronary diseases. Hence, these advancements have provided lucrative opportunities for market players in the CTO market. Moreover, CTO devices have gained popularity due to advantages such as efficiency in improving patient outcomes through minimally invasive surgeries.
Key segments that contributed to the derivation of the Chronic Total Occlusion market analysis are equipment and end users.
The geographic scope of the Chronic Total Occlusion Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America. North America dominated the Chronic Total Occlusion Market. The market growth can be attributed to increasing research and development activities related to medical device and the presence of major manufacturers in the market focusing on product offerings. Additionally, strong foothold of companies such as Teleflex in the US is also likely to fuel the regional market growth. For instance, in February 2022, Teleflex Incorporated, a prominent worldwide supplier of medical technologies, received clearance from the U.S. Food & Drug Administration (FDA) to expand the use of its specialty catheters and coronary guidewires for crossing chronic total occlusion percutaneous coronary interventions (CTO PCI). CTOs refer to chronic total occlusions in coronary arteries, which are severe obstructions that completely obstruct the blood flow and cause a significant reduction in blood supply to the heart (ischemia).
The regional trends and factors influencing the Chronic Total Occlusion Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Chronic Total Occlusion Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
Report Attribute | Details |
---|---|
Market size in 2022 | US$ 395.66 Million |
Market Size by 2031 | US$ 801.16 Million |
Global CAGR (2023 - 2031) | 8.23% |
Historical Data | 2021-2022 |
Forecast period | 2023-2031 |
Segments Covered |
By Equipment
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
The Chronic Total Occlusion Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Chronic Total Occlusion Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Chronic Total Occlusion Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for Chronic Total Occlusion:
The “Chronic Total Occlusion Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: