How is the Plaque Modification Devices Market Poised for Growth: Trends and Opportunities Through 2034
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What fueled the previous growth in the plaque modification devices market?
In recent times, the market for plaque modification devices has seen a robust growth. It is projected to rise from $1.38 billion in 2024 to $1.50 billion in 2025, at a compound annual growth rate (CAGR) of 8.7%. Factors contributing to this growth during the historic period include a surge in the number of individuals suffering from cardiovascular and associated ailments, a mounting demand for minimally invasive surgeries, a growing elderly population, an increase in cases of atherosclerosis, and escalating obesity levels among the populace.
What will be the plaque modification devices market size in the future?
In the forthcoming years, the market for plaque modification devices is predicted to witness robust growth, expanding to $2.07 billion by 2029 with a compound annual growth rate (CAGR) of 8.4%. The significant expansion during the forecast period can be accredited to factors such as the increasing prevalence of minimally invasive surgeries, growth in the demographic afflicted by heart conditions, an aging population, supportive reimbursement policies, and escalating sedentary lifestyle-related ailments. Predominant trends anticipated for the forecast period encompass the uptake of minimally invasive procedures, the advancement and introduction of atherectomy devices, technological enhancements, investment in the manufacturing of precise innovative plaque modification gadgets, and the adoption of new technological methods.
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What main drivers are fueling expansion in the plaque modification devices market?
The plaque modification devices market is projected to experience growth as the number of minimally invasive procedures increases. These procedures, which consist of smaller incisions, fewer tissue disruptions, and lower trauma compared to conventional open surgery, are rapidly gaining traction. This surge in minimally invasive procedures is due to advancements in technology such as high-definition imaging and robotic systems, enhancing precision, as well as an increasing demand from patients for quicker recovery times and less scarring. By enabling accurate removal of arterial blockages, plaque modification devices boost the safety and effectiveness of these less intrusive procedures and broaden the treatment options for patients with intricate vascular conditions. For example, in the fourth quarter of 2023, a 12% increase from 2022 was reported by Intuitive Surgical Inc., a US-based producer of robotic devices, as they placed 415 of their da Vinci surgical systems, which operate with a minimally invasive surgical approach. Consequently, the proliferation of minimally invasive surgeries is contributing to the expansion of the plaque modification devices market.
What key areas define the segmentation of the global plaque modification devices market?
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
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Who are the dominant players expanding their reach in the plaque modification devices market?
Major companies operating in the plaque modification devices market are Cardinal Health, Johnson & Johnson, Abbott Laboratories, Siemens Healthineers, Philips Healthcare, Becton Dickinson, Stryker Corporation, Boston Scientific, Terumo Corporation, Edward Lifesciences Corporation, Teleflex Incorporated, Merit Medical Systems Inc., MicroPort Scientific Corporation, Asahi Intecc Co. Ltd., AngioDynamics, Cardiovascular Systems Inc. (CSI), ACIST Medical Systems Inc., Endologix Inc., Avinger Inc., SoundBite Medical Solutions Inc.
What emerging trends are influencing the growth of the plaque modification devices market?
Major companies operating in the plaque modification devices market are focusing on developing advanced solutions, such as intravascular image-guided, catheter-based systems, to gain a competitive edge in the market. Intravascular image-guided refers to medical procedures or interventions that use imaging technology to guide instruments or devices inside blood vessels. For instance, in August 2024, Avinger, a US-based medical device company, launched the Pantheris LV image-guided directional atherectomy system, designed specifically for treating peripheral artery disease (PAD) in larger blood vessels such as the superficial femoral and popliteal arteries. It offers unique features such as higher-speed plaque excision for efficient removal of challenging occlusive tissue, a proprietary jog mechanism for enhanced plaque apposition, and an advanced guidewire management system to streamline user operation.
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Which regions are emerging as leaders in 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.
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