Blood Clot Retrieval Devices Market, By Stroke (Ischemic Stroke , Hemorrhagic Stroke, Pulmonary Embolism, Deep Vein Thrombosis, Transient Ischemic Attack, and Others), By Device (Mechanical Embolus Removal Devices, Penumbra Blood Clot Retrieval Devices, Stent Retrievers, Aspiration Device, and Ultrasound Assisted Devices), By Application (Coronary Arteries, Peripheral Arteries, and Cerebral Arteries), By End User (Hospitals , Diagnostic Centers, Specialty Clinics, Ambulatory Surgical Centers, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jul 2024

Code : CMI7195

Pages :145

Formats :

Excel and PDF

Industry : Medical Devices

Market Challenges: Risk of complications associated with the procedure

The risk of complications arising from blood clot retrieval procedures is a major concern restraining the growth of the global blood clot retrieval devices market. Blood clot removal is an intricate procedure involving advancement of wires and catheters through delicate blood vessels to the location of the clot. During this process, there is always a chance of damaging the vessels or dislodging secondary clots. Complications arising from the procedure such as vessel perforation, dissection or rupture can be life-threatening. This makes both physicians and patients apprehensive about using such devices. The risks are considerably higher in certain groups of patients such as the elderly who usually have fragile vessels and those with comorbid conditions like diabetes which weaken the vessel walls. Procedural complications often lead to severe disabilities or mortality. As per World Health Organization data from 2021, complications arising from catheter-based cardiovascular procedures caused approximately 250,000 deaths globally. Such troubling statistics have created a risk-averse mindset among the patient population regarding intravascular treatments. This subsequently restrains the growth potential for blood clot retrieval device manufacturers.

Market Opportunities: Emerging economies with large patient pool

Emerging economies with large patient populations present significant growth opportunities for the global blood clot retrieval devices market. Countries like India, China, Brazil, and other developing nations in Asia Pacific and Latin America are experiencing rapid urbanization and rising incomes. This has led to lifestyle changes like increased stress levels, sedentary jobs and unhealthy diets which are fueling the incidents of cardiovascular diseases and strokes in these regions. As per the World Health Organization's data, cardiovascular diseases accounted for over 15 million premature deaths globally in 2019 alone. Nearly 85% of these deaths occurred in low and middle-income countries. Strokes and other cerebrovascular diseases also claimed 6.2 million lives in the same year. The burden of such illnesses will continue to rise enormously in developing economies over the next decade due to their aging populations and risk factors like smoking, diabetes and obesity becoming more prevalent. This massive patient base needing procedures like mechanical thrombectomy to remove deadly blood clots from brain arteries creates a huge demand driver for specialized medical devices. For companies operating in the blood clot retrieval devices sector, these emerging territories offer tremendous scope for volumes growth. International players are increasingly focusing on expanding their reach into quicker adopting Asian and Latin American healthcare systems through distributor partnerships and setting up local manufacturing sites. This allows addressing unique needs of these markets in a cost effective manner while also catering to rising demand.