Market Challenges And Opportunities

Global Thrombectomy Devices Market– Drivers

Increasing product approval by regulatory authorities: Increasing product approval by regulatory authorities such as China’s National Medical Product Administration is expected to drive the global thrombectomy devices market growth over the forecast period. For instance, on August 31, 2023, Rapid Medical, a Israel-based developer of neurovascular devices, announced that its Tigertriever revascularization device had received approval from China’s National Medical Product Administration. Tigertriever provides patient-specific solutions for removing blood clots from the brain in the treatment of ischemic stroke.Moreover, Increasing product approvals by regulatory authority such as U.S. Food and Drug Administration is also expected to boost the global thrombectomy devices market in North America region . For instance, on June 14, 2023, Surmodics Inc., announced that the U.S. Food and Drug Administration had received approval for Pounce LP Thrombectomy System that is intended for the non-surgical removal of thrombi and emboli from the peripheral arterial vasculature in vessels 3.5 mm to 6 mm in diameter. The Pounce LP Thrombectomy System, a new addition to the Pounce platform, is indicated for use in vessels, ranging from 2 mm to 4 mm in diameter, sizes typical of vessels found below the knee.

Global Thrombectomy Devices Market: Restraint

Increasing product recall by regulatory authorities: Increasing product recall by regulatory authorities such as U.S. Food and Drug Administration is expected to hinder the market growth over the forecast period. For instance, in February 2022, the U.S. Food and Drug Administration recalled Arrow-Trerotola Percutaneous Thrombolytic Device, manufactured by Arrow-International, LLC a subsidiary of Teleflex Incorporated. The device was recalled due to risk of tip damage during use that canresult in tip detachment from the basket. This could potentially lead to vascular injuries including obstruction (blockage) of the vessel, additional thrombosis (blood clot), ischemia (inadequate blood supply), infarction (heart attack), infection or death.
Counterbalance: Recall means when a firm removes or corrects a marketed product that the Food and Drug Administration considers to be in violation of the laws, that it administers and against which the agency would initiate legal action. The customers need to be first informed about the recall procedure and safety of the customers must be ensured at first, so that any damage can be prevented regarding the perception of the brand and the business.

Global Thrombectomy Devices Market- Restraints