Neurovascular thrombectomy devices market to grow 6% through 2025 in APAC region: GlobalData

October 15, 2020 0 By FM

The neurovascular thrombectomy devices market in the Asia-Pacific (APAC) region is expected to grow at a compound annual growth rate (CAGR) of about 6% between 2020 and 2025, says GlobalData.

According to the company’s ‘Neurovascular Thrombectomy Devices (Neurology Devices) – Global Market Analysis and Forecast Model (COVID-19 market impact)’, the adoption of thrombectomy devices varies from country to country in the APAC region. The growth is significant in developed countries such as Japan, South Korea, and Australia due to their better and advanced healthcare infrastructure.

However, in developing countries such as India, the growth is currently less due to fewer centres performing these procedures and less number of specialists available.

The report reveals that advancements in the neurovascular thrombectomy devices have played an important role in improving the success and safety of thrombectomy procedures in the APAC region.

In 2019, Japan accounted for about 65% of the APAC neurovascular thrombectomy devices market, followed by South Korea and China, which together contributed about 27%. Medtronic has been the leading player in the region, followed by Stryker and Penumbra, revealed the company.

“Medical device manufacturers have focused on reducing procedural complications related to these devices, thereby increasing the number of procedures performed,” said Minith Kumar, Medical Devices Analyst at GlobalData, in a statement.

“The innovative stent retrievers and aspiration catheters represent the next generation of technology designed to improve neurovascular thrombectomy procedures’ success rates. These technologies can reduce procedure times, improve revascularization rates and translate to better functional outcomes for patients. This is expected to translate into more number of thrombectomy procedures performed in the region going forward.” he added.