[Research Report] The mechanical thrombectomy devices market size is projected to grow from US$ 696.24 million in 2022 to US$ 1,157.24 million by 2030; the market is estimated to record a CAGR of 6.5% during 2022-2030.

Market Insights and Analyst View:

Mechanical thrombectomy devices comprise a wide array of endovascular tools cleared for removing thrombi from the neurovasculature in acute ischemic stroke patients. The quicker and more completely a clot can be removed to restore blood flow to the brain, the better it is for the patient. The most significant benefit to a patient is when mechanical thrombectomy retrieves (or catches) the stroke-causing clot entirely at the first pass or attempt. When the first pass is successful, it avoids repeated clot retrieval attempts, therefore reducing the risk of complications and procedure time.

Companies operating in the mechanical thrombectomy devices market are focusing on strategic developments such as collaborations, expansions, agreements, partnerships, and new product launches, which is helping them to improve their sales, expand their geographic reach, and enhance their capacities to cater to a larger than existing customer base. For instance, in January 2023, Penumbra, Inc. announced the U.S. FDA) clearance and launch of Lightning Flash, a mechanical thrombectomy system on the market. Lightning Flash features Penumbra's novel Lightning Intelligent Aspiration technology, and it comes with dual clot detection algorithms. Together with innovative catheter engineering, Lightning Flash is developed to quickly remove large blood clots in the body, including venous thrombus and pulmonary emboli (PE).

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Mechanical Thrombectomy Devices Market: Strategic Insights

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Growth Drivers: 

Elevating Incidences of CVDs and Neurological Diseases

Neurological diseases are disorders of the brain, spine, and the nerves connecting the brain and spine supplying oxygenated blood. The neurovascular systems are heavily dependent on the continuous oxygen and nutrients supplied by the arteries and veins. Thus, a defect in the system can hamper the function, and it may rapidly become a serious issue. Thrombosis has been increasing in diseases such as peripheral vascular, neurovascular, and other diseases. Thrombosis is a biological response that is closely related to cerebral aneurysms, which are balloon-like dilations of blood vessel walls caused by the weakening of the wall layers.

The prevalence of cerebral aneurysms has increased extremely across the globe. As per the Brain Aneurysm Foundation, an estimated 6.7 million people in the US have an unruptured brain aneurysm, or 1 in 50 people. There are almost 5,00,000 mortalities worldwide each year caused by brain aneurysms, and half the fatalities are younger than 50.

As per the American Heart Association, globally, stroke is the second leading cause of mortality, accounting for 11.6% of all deaths in 2019. Ischemic stroke is the most recurrent type, accounting for 62.4% of all stroke cases worldwide in 2019. This type of stroke results in neurological death and long-term adult disability and thus imposes massive health and economic burdens. Globally, 77.19 million individuals experienced an ischemic stroke in 2019, and 63.48 million disability-adjusted life years (DALYs) and 3.29 million deaths were attributable to ischemic stroke. The age-standardized incidence, death, and DALY rates associated with ischemic stroke decreased in both sexes from 1990 to 2019. Thus, the growing incidences of the abovementioned diseases and the severity of these conditions are expected to propel the growth of the thrombectomy devices market during the estimated period.

Report Segmentation and Scope:

The "Mechanical Thrombectomy Devices Market" is segmented on the basis of type, application, and end users. Based on type, the market is aspiration catheters, stent retrievers, and others. Based on application, the market is segmented into cardiovascular, peripheral vascular, neurovascular, and others. Based on end-user, the market is segmented into academic & research institutes, hospitals & clinics, and ambulatory surgical centers.

Segmental Analysis:

Based on product, the mechanical thrombectomy devices market is divided into aspiration catheters, stent retrievers, and others. Aspiration catheters are flexible with a large inner distal diameter. A guide wire is inserted into the patient, followed by a small access catheter. The access catheter is then used to guide the aspiration catheter to the right place. When the clot is reached, it is broken into smaller pieces that can be aspirated through the catheter using a pump or manual suction.

Stent retrievers have an expanding wire mesh tube and are intended to remove the clot in 1 piece. The retriever is placed using a delivery catheter, and once in place, the mesh expands. The clot is trapped in the expanding mesh and is then withdrawn into the catheter.

Based on application, the mechanical thrombectomy devices market is segmented into biopharmaceutical production, cell and gene therapy, tissue engineering, regenerative medicine, and others. In 2022, the cardiovascular segment held the largest share of the market. However, a peripheral vascular segment is expected to grow at the fastest rate during the coming year. Peripheral vascular disease (PVD) is a blood flow disorder that causes the brain to block, narrow, or spasm. The procedure is employed to eliminate emboli and thrombi from vessels of the venous systems and peripheral arterial. These minimally invasive devices are used to enable the fast restoration of blood flow in such cases as acute limb ischemia and deep vein thrombosis.

Additionally, acute embolism and thrombosis are the most common cause of peripheral vascular occlusion. The disease can be treated by surgeries that include peripheral vascular devices such as catheters, stents, guidewires, and others. These devices differ in the method of fluid delivery to achieve rapid flow rates.

Based on end user, the mechanical thrombectomy devices market is segmented into pharmaceutical and biotechnology companies, contract research organizations and contract manufacturing organizations, and academic and research institutes. The hospitals segment held the largest share of the market in 2022. Moreover, the same is expected to register the highest CAGR in the market during the forecast period. Pharmaceutical companies hold a major share of the total medicine production. Owing to the development in healthcare facilities, hospitals are advanced with modernized equipment and are installed with digital pathology and artificial intelligence. These technologies assist in communicating in the inter-departments and also allow the sharing of data across the domain. The clinics offer diagnosis and the treatment of neurologic conditions such as cerebrovascular diseases and strokes, multiple sclerosis, neuro-oncology, and others. Besides, the rise in the prevalence of neurologic cardiovascular disorders such as stroke and brain aneurysms is driving the growth of hospitals.

Regional Analysis:

Based on geography, the global mechanical thrombectomy devices market is segmented into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. In 2022, North America contributed the largest share of the global mechanical thrombectomy devices market size. Asia Pacific is expected to register the highest CAGR during 2022-2030.

North America holds the largest share of the mechanical thrombectomy devices market. The market in this region is split into the US, Canada, and Mexico. The growth of the market in the region is attributed to factors such as the growth of the market, which is attributed to growing advancements in thrombectomy devices and rising cardiovascular diseases in the region.

The US is the largest contributor to the mechanical thrombectomy devices market in North America and the world. Market growth in the US is mainly attributed to the rising prevalence of cardiovascular diseases. As per the American Heart Association, one of every three deaths is caused by cardiovascular diseases in the US. Moreover, every year, ~2,300 Americans die because of cardiovascular disease, and an average of one death is recorded every 38 seconds. As per the CDC, about 695,000 people in the US died from heart disease in 2021; that’s 1 in every five deaths. As per the same source, in 2020, there were 7.08 million deaths attributable to cerebrovascular disease worldwide (3.48 million deaths from ischemic stroke, 3.25 million deaths from intracerebral hemorrhage (ICH), and 0.35 million from subarachnoid hemorrhage). Growing cerebrovascular diseases will propel the neurovascular thrombectomy devices market.

Furthermore, in 2020, Royal Philips launched its innovative QuickClear mechanical thrombectomy system. The compact, single-use system offers an all-in-one aspiration pump and catheter for the elimination of blood clots from the peripheral arterial and venous vessels. The system’s innovative all-in-one design is simple to use while removing the necessity for capital equipment or costly accessories, with easy arrangement supporting faster procedure times. This QuickClear Mechanical Thrombectomy System has received U.S. FDA 510(k) approval and is available for sale in the U.S.

Thus, growing advancements in thrombectomy devices and rising cardiovascular and cerebrovascular diseases in the region are expected to drive the mechanical thrombectomy market.

Industry Developments and Future Opportunities:

Various initiatives taken by leading players operating in the mechanical thrombectomy devices market are listed below:

1. In February 2022, Imperative Care, Inc. launched Zoom POD Aspiration Tubing, the company's latest innovation in elevating stroke care. This newest addition to the company's Zoom Stroke Solution allows quick confirmation of successful clot retrieval during mechanical thrombectomy for ischemic stroke.
2. In October 2021, phenox introduced the pRESET 6-50 mechanical thrombectomy device to treat acute large vessel occlusive (LVO) stroke.
3. In September 2021, Boston Scientific Corporation acquired Devoro Medical, Inc., the WOLF Thrombectomy Platform developer, to add a mechanical thrombectomy platform to the peripheral interventions portfolio. The innovative non-console and lytic-free WOLF technology targets and captures blood clots using finger-like prongs that retrieve and remove thrombi in the arterial and venous systems.
4. In December 2019, Vascular Medcure, Inc. received FDA clearance for its latest CAPERE Thrombectomy System, a mechanical device for treating peripheral vascular deep vein thrombosis (DVT).
5. In April 2019, Medtronic launched Solitaire X revascularization device for treating acute ischemic stroke in the U.S. Solitaire stent retriever uses a micro-sized catheter to access arteries in the brain, restoring blood flow and removing blood clots that cause acute ischemic stroke.

Competitive Landscape and Key Companies:

Stryker, Boston Scientific, Medtronic, Terumo, Johnson & Johnson, Penumbra, Spectranetics, Teleflex, Argon Medical Devices, and Edwards Lifesciences are the prominent mechanical thrombectomy devices market companies. These companies focus on new technologies, existing product advancements, and geographic expansions to meet the growing consumer demand worldwide.