Blood clot retrieval devices are medical devices used to remove blood clots from arteries and veins. These devices are inserted through small incisions in the groin or arm and guided through blood vessels to the site of the clot using X-ray guidance. Once at the site, the device captures and retrieves the clot to restore normal blood flow. This minimally invasive procedure is an effective treatment for patients suffering from life-threatening blood clots or embolisms. The growing geriatric population is more susceptible to suffer from heart diseases, strokes and other cardiovascular conditions which can lead to blood clots. This has increased the demand for efficient blood clot retrieval devices for treatment.
The Global Blood Clot Retrieval Devices Market is estimated to be valued at USD 1.62 Bn in 2024 and is expected to exhibit a CAGR of 15.3% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Blood Clot Retrieval Devices are Stryker Corporation, Medtronic plc, Johnson & Johnson, Boston Scientific Corporation and Penumbra Inc.
The increasing prevalence of strokes and heart attacks globally has opened lucrative opportunities for players in the Blood Clot Retrieval Devices Market Growth. Ongoing research to develop more advanced devices has potential to capture a wider patient pool.
Major players are focusing on expanding their geographic footprint in emerging Asian countries witnessing a rise in target diseases. Partnerships with local distributors are helping companies strengthen market position internationally.
Market drivers
The steadily aging global population prone to developing cardiovascular conditions is a key factor driving the blood clot retrieval devices market. As per WHO, the number of people aged 65 years and above is projected to increase from 524 million in 2010 to 1.5 billion by 2050. This will significantly rise the incidence of blood clots and boost device adoption.
Political: Regulations around quality standards and approval process for new medical devices. Government policies and reimbursement programmes affecting affordability of these devices.
Economic: Rising healthcare expenditures and demand for minimally invasive procedures driving market growth. Though high costs of advanced devices may hinder widespread adoption in price sensitive regions.
Social: Growing prevalence of cardiac diseases and accidents globally. Increasing awareness about effective treatment options. Ageing population further supporting market expansion.
Technological: Advancements in thrombectomy catheter designs for improved retrieval success rates. Integration of MRI compatible materials. Development of automated retractable stentriever technologies for simplified procedures.
The market is currently concentrated in developed economies like North America and Western Europe owing to their advanced healthcare infrastructures and high acceptance of new medical technologies. The United States alone accounts for over 35% share in the global market due to the large patient population and favorable reimbursement policies.
Asia Pacific is expected to be the fastest growing regional market during the forecast period attributed to rising healthcare investments, growing medical tourism industry and expanding patient population and base of cardiac illnesses. Rising incomes are also supporting upgrades of hospital infrastructure and availability of superior treatment options in major Asian countries.
Get this Report in Japanese Language- 血栓回収装置市場
Get this Report in Korean Language- 혈전 검색 장치 시장
About Author-
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Known for her strong SEO background, she skillfully blends SEO strategies with insightful content. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
