CLOT MANAGEMENT DEVICES MARKET ANALYSIS

Market Challenges And Opportunities

Global Clot Management Devices Market Restraints

High cost of clot management devices is expected to hamper the global clot management devices market growth over the forecast period. For instance, according to the data published by National Center for Biotechnology Information (NCBI) in 2016, the cost of 5MAX ACE catheter, used for the extraction of clots in ischemic stroke was around US$ 4,916. Hence, high cost may lead to lesser adoption of devices and thereby, hindering the global clot management devices market growth.

Global Clot Management Devices Market Drivers

Approval and launch of the novel clot management devices are expected to boost the global clot management devices market. For instance, in May 2019, the U.S. Food and Drug Administration (FDA) approved Bashir Endovascular Catheter (BEC) and Bashir N-X endovascular catheter (BEC N-X) developed by a scientist from Temple University Hospital in Philadelphia, Pennsylvania and is being commercialized by Thrombolex, Inc. BEC received approval for its controlled infusion of fluids (thrombolytics) in peripheral vasculature and BEC N-X is being used for controlled infusion of fluids into pulmonary and peripheral vasculature.

Furthermore, key players are also trying to expand the indications of its already approved products. For instance, in February 2018, the U.S. FDA expanded indications for Trevo clot retriever, a device designed by Stryker Corporations. Trevo Retriever is the first thrombectomy device to receive approval for expansion by 18 hours of treatment time for acute ischemic stroke. Originally Trevo clot retriever had been approved in 2012. Such frequent approvals by the U.S. FDA is expected to drive the global clot management device market growth.

Furthermore, activities such as collaborations, partnerships, merger, and acquisitions of the manufacturers are expected to drive the global clot management devices market growth. For instance, in September 2018, LeMaitre Vascular Corporation acquired vascular clot management business of Applied Medical Resources Corporation. The parties had undergone an agreement of transitional services, where Applied Medical Resources Corporation was supposed to manufacture its clot management product line for LeMaitre Vascular Corporation. This factor is expected to have a positive influence on the global clot management devices market growth over the forecast period.