by The blood clot retrieval devices market involves medical devices that help remove life-threatening blood clots from arteries and veins. These devices are inserted via small incisions or entry points in the body and help remove clots minimally invasively. They play a vital role in the treatment of strokes, deep vein thrombosis, and pulmonary embolism. The growing adoption of minimally invasive surgeries and rising cases of cardiovascular diseases are fueling the demand for blood clot retrieval devices.
The global blood clot retrieval devices market is estimated to be valued at USD 1.62 Bn in 2024 and is expected to reach USD 4.40 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 15.3% from 2024 to 2031.
Key Takeaways
Key players operating in the blood clot retrieval devices are Stryker Corporation, Medtronic plc, Johnson & Johnson, Boston Scientific Corporation, Penumbra, Inc., Terumo Corporation, Edwards Lifesciences Corporation, Argon Medical Devices, Inc., Cook Medical Inc., Control Medical Technology, Acandis GmbH, Phenox GmbH, B. Braun Melsungen AG, Teleflex Incorporated, MicroVention, Inc., Merit Medical Systems, W. L. Gore & Associates, Inc., and Inari Medical, Inc. Growing demand for minimally invasive procedures along with rising incidences of cardiovascular diseases is fueling the demand for Blood Clot Retrieval Devices Market Growth globally. Major manufacturers are focusing on new product launches, mergers, and geographical expansion to meet the growing market demand.
Market key trends
The trend towards adoption of minimally invasive techniques in the treatment of life-threatening blood clots is a major factor driving the Blood Clot Retrieval Devices Market Size . These minimally invasive devices provide faster recovery, less pain and trauma to patients compared to conventional open surgeries. Manufacturers are extensively focusing on developing advanced clot retrieval technologies such as flow restoration devices and vacuum-assisted technology to improve efficacy and success rates. Growing demand for effective technologies along with increasing healthcare expenditure in developing nations are expected to boost the growth of the blood clot retrieval devices market over the forecast period.
Porter’s Analysis
Threat of new entrants: Low set up & capital costs aid new players entry however established brands dominate the market.
Bargaining power of buyers: Large hospital networks have high bargaining power due to volume purchases.
Bargaining power of suppliers: Specialized production process increase suppliers power; technology and quality dependencies on suppliers.
Threat of new substitutes: Slight threat from other thrombus removal devices but overall limited substitute threat for clot retrieval.
Competitive rivalry: Market dominated by few multi product companies; pricing pressure, acquisitions and differentiations define rivalry.
Geographical Regions
North America holds the major share in the blood clot retrieval devices market in terms of value owing to the presence of developed healthcare infrastructure and key players.
Asia Pacific registers the fastest growth rate owing to growing healthcare expenditure, increasing disposable income, growing incidence of cardiovascular disorders and rising medical tourism. Surging private hospitals drive the Asian market growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
