Plaque Modification And Removal Devices Products: Analyzing Current Size, Share, and Growth Trends
The global plaque modification and removal devices market size is expected to reach USD 3.26 billion by 2030, exhibiting a CAGR of 8.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The global market for plaque modification and removal devices is experiencing robust growth, fueled by technological innovations, increasing prevalence of cardiovascular diseases, and favorable reimbursement policies. Moreover, the rising incidence of cardiovascular diseases, particularly among the aging population, underscores the critical need for effective plaque modification and removal devices. With greater awareness of cardiovascular health and improved diagnostic techniques, there is an increasing emphasis on early detection and intervention, further driving market demand.
Plaque Modification & Removal Devices Market Report Highlights
Based on the product, the atherectomy devices segment accounted for the largest market share of 32.48% in 2023. These devices address the limitations of balloon angioplasty which is driving the segment growth.
Based on the application, the coronary artery disease segment accounted for the largest market share of 59.83% in 2023 driven by the increasing cases of atherosclerosis, and diabetes.
Based on the end use, the hospitals segment accounted for the largest market share of 74.23% in 2023 attributed to patient care and safety.
In 2023, North America dominated with a share of 43.69% due to the rising prevalence of chronic diseases, rapid adoption of technological advancements, and rising elderly population.
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Moreover, supportive government policies and increased healthcare expenditure in emerging economies provide a conducive environment for market expansion. Governments in these regions are investing heavily in healthcare infrastructure and making concerted efforts to improve access to advanced medical treatments. This financial backing not only aids in the procurement of sophisticated medical devices but also supports training programs for healthcare providers, ensuring the effective utilization of these technologies. Moreover, the growing trend of minimally invasive surgeries, which offer reduced recovery times and lower risk of complications, is driving the preference for advanced plaque modification and removal technologies. These surgeries are less traumatic for patients and allow for a quicker return to normal activities, making them highly attractive options. Collectively, these factors contribute to a robust growth trajectory for the plaque modification and removal devices market.
List of Major Companies in the Plaque Modification And Removal Devices Market
Boston Scientific Corporation
Abbott
Medtronic
Becton, Dickinson, and Company
Koninklijke Phillips N.V.
Stryker
AngioDynamics
Microvention, Inc. (Terumo Corporation)
Penumbra, Inc.
REX MEDICAL
