Plaque Modification Devices Market Growth Forecast: Exploring Trends and Opportunities for the Next Decade
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What Growth Opportunities are Expected to Drive the Plaque Modification Devices Market’s CAGR Through 2034?
In recent times, there has been robust growth in the market for plaque modification devices. The market, which was worth $1.38 billion in 2024, is forecasted to increase to $1.50 billion in 2025, showing a compound annual growth rate (CAGR) of 8.7%. Key factors driving this growth during the historic period include an increase in cardiovascular and similar diseases, a higher demand for minimally invasive surgical procedures, an expanding aging population, a rise in atherosclerosis cases, and a growing obesity issue among the general populace.
Expectations are high for the plaque modification devices market, with substantial growth projected in the coming years. The market is anticipated to expand to $2.07 billion in 2029, with a compound annual growth rate (CAGR) of 8.4%. Factors like the surge in minimally invasive procedures, a higher count of patients with coronary problems, increasing aging population, beneficial reimbursement policies, and the rise in sedentary lifestyle and related diseases, contribute to the market’s growth in the forecasted period. Key trends during this period will likely include the increased use of minimally invasive surgeries, the formulation and introduction of atherectomy devices, advances in technology, investments towards the creation of precise innovative plaque modification devices, and the integration of new technologies.
Which Primary Drivers Are Supporting the Continued Expansion of the Plaque Modification Devices Market?
The plaque modification devices market is poised for growth, bolstered by an upsurge in minimally invasive procedures. These procedures involve minor incisions, reduce disturbance to tissues, and cause lesser physical trauma compared to standard open surgery. Technological advancements like high-definition imaging and robotic systems are driving the surge in these procedures. These advancements improve precision, meeting the increasing patient demand for a quicker recovery process and lesser scarring. Plaque modification devices contribute to the safety and efficacy of minimally invasive procedures by facilitating the precise removal of arterial blockages, widening treatment options for patients with complicated vascular conditions. As an illustration, in January 2024, Intuitive Surgical Inc., a US-based firm manufacturing robotic products, had distributed 415 da Vinci surgical systems in the fourth quarter of 2023. These are robotic surgical systems that rely on a minimally invasive surgical methodology, marking a 12% increase from 2022. Consequently, the growing use of minimally invasive procedures is fueling the growth of the plaque modification devices market.
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What Are the Leading Industry Players Dominating the Plaque Modification Devices Market?
Major companies operating in the plaque modification devices market are:
• Cardinal Health_x000D_
• Johnson & Johnson_x000D_
• Abbott Laboratories_x000D_
• Siemens Healthineers_x000D_
• Philips Healthcare_x000D_
What Are the Latest Trends Leading to Disruption in the Plaque Modification Devices Market?
Leading enterprises in the plaque modification devices market are concentrating on introducing innovative solutions like intravascular image-guided, catheter-based systems, in an attempt to gain an upper hand in the market. Intravascular image-guided relates to medical procedures or initiatives employing imaging technology to steer instruments or gadgets within blood vessels. For example, in August 2024, Avinger, an American medical device firm, rolled out the Pantheris LV image-guided directional atherectomy system, which is purposefully created to treat peripheral artery disease (PAD) in larger blood vessels like the superficial femoral and popliteal arteries. This comes with distinctive attributes such as high-speed plaque excision for effective removal of problematic occlusive tissue, a specialized jog mechanism for superior plaque adherence, and an upgraded guidewire management system for simplified user handling.
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What Are the Strategic Segments Comprising the Plaque Modification Devices Market and Their Growth Contributions?
The plaque modification devices market covered in this report is segmented –
1) By Type: Atherectomy Devices, Thrombectomy Devices, Chronic Total Occlusion Devices, Embolic Protection Devices
2) By Application: Coronary Artery Disease, Peripheral Artery Disease, Neurovascular Diseases
3) By End User: Hospitals, Ambulatory Surgical Centers, Other End Users
Subsegments:
1) By Atherectomy Devices: Rotational Atherectomy Devices, Directional Atherectomy Devices, Laser Atherectomy Devices, Orbital Atherectomy Devices
2) By Thrombectomy Devices: Mechanical Thrombectomy Devices, Aspiration Thrombectomy Devices, Manual Thrombectomy Devices, Hybrid Thrombectomy Devices
3) By Chronic Total Occlusion (CTO) Devices: CTO Crossing Guidewires, CTO Balloons, CTO Catheters, CTO Support Systems
4) By Embolic Protection Devices: Distal Protection Devices, Proximal Protection Devices, Filter-Based Embolic Protection Devices, Balloon-Based Embolic Protection Devices
Which Regions Are Significant to the Growth of the Plaque Modification Devices Market?
North America was the largest region in the plaque modification devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plaque modification devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Can We Define the Plaque Modification Devices Market and Its Key Components?
Plaque modification devices refer to medical tools and technologies designed to treat atherosclerotic plaque buildup in blood vessels. These devices are used in minimally invasive procedures to restore blood flow by removing, modifying, or managing plaque within the arteries, particularly in cases of cardiovascular or peripheral artery diseases.
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