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.
Chronic Total Occlusion Market Analysis
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.
Chronic Total Occlusion Market Overview
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.
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Chronic Total Occlusion Market: Strategic Insights
Market Size Value in US$ 280.7 Million in 2017 Market Size Value by US$ 516.1 Million by 2025 Growth rate CAGR of 8.1% from 2018-2025 Forecast Period 2018-2025 Base Year 2018
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Chronic Total Occlusion Market: Strategic Insights
| Market Size Value in | US$ 280.7 Million in 2017 |
| Market Size Value by | US$ 516.1 Million by 2025 |
| Growth rate | CAGR of 8.1% from 2018-2025 |
| Forecast Period | 2018-2025 |
| Base Year | 2018 |
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Chronic Total Occlusion Market Drivers and Opportunities
Increasing Prevalence of Chronic Total Occlusion Favors the Market
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.
Rapid Innovation and Technological Upgradation in Chronic Total Occlusion Devices– An Opportunity in the Chronic Total Occlusion 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.
Chronic Total Occlusion Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Chronic Total Occlusion market analysis are equipment and end users.
- Based on the equipment, the Chronic Total Occlusion market is segmented into Guide Wires, Micro Catheters, Crossing Devices, and Re-Entry Devices. The Guidewires held a larger market share in 2023.
- By end user, the market is segmented into Hospitals, Ambulatory Care Centers, and others. The hospitals segment held the largest share of the market in 2023.
Chronic Total Occlusion Market Share Analysis by Geography
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).
Chronic Total Occlusion Market Report Scope
Chronic Total Occlusion Market News and Recent Developments
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:
- Reflow Medical, Inc. made an official declaration regarding the FDA commercial authorization it has obtained for its coraCatheters, an extensive collection of cutting-edge microcatheters specifically designed for percutaneous coronary interventions to access and traverse intricate and demanding lesions. The most recent addition to Reflow's portfolio of innovative devices is the coraCatheters family, which also comprises the Wingman and Spex Catheters. As the company establishes itself as an industry leader in coronary care, it is augmenting its sales force to assist present and forthcoming advancements. (Source: Reflow Medical., Press Release/Company Website/Newsletter, May 2023)
- Nitiloop Ltd. to received a 510(k) clearance from the U.S. Food & Drug Administration for its NovaCross CTO Microcatheter. The NovaCross CTO Microcatheter device is intended to facilitate the intraluminal placement of conventional and steerable guidewires beyond stenotic lesions, including chronic total occlusions (CTO), before PTCA or stent intervention. It is also intended to be used in conjunction with a steerable guidewire to access discrete regions of the coronary and peripheral vasculature and for guidewire exchange. (Source: Nitiloop Incorporated., Press Release/Company Website/Newsletter, April 2020)
Chronic Total Occlusion Market Report Coverage and Deliverables
The “Chronic Total Occlusion Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Equipment ; End User and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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