Thrombectomy Devices Market is Anticipated to Gain Moderate CAGR by 2027

The global Thrombectomy Devices market is anticipated to reach US$ 2,101.29 Mn in 2027 from US$ 1,282.07 Mn in 2018. The market is anticipated to grow with a CAGR of 5.9% from 2019-2027.

The report provides trends prevailing in the global thrombectomy devices market and the factors driving the market along with those that act as hindrances. The market for thrombectomy devices is expected to grow, owing to factors such as elevating incidences of CVDs and neurological diseases, ongoing technological advancements, and favorable medical reimbursement scenario. Moreover, growing healthcare expenditure and increasing research and studies in field of thrombectomy are likely to have a positive impact on the growth of the market in the coming years.

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In January 2018, European Tech Reimbursement Consulting (MTRC) released a 62-page reimbursement report for mechanical thrombectomy for stroke. The report covers procedure coding, payment mechanism, reimbursement tariffs, and policy restrictions in 11 EU countries, including Austria, Belgium, Denmark, England, France, Germany, Italy, the Netherlands, Norway, Sweden, and Switzerland. The report also covers essential information about reimbursement and national funding, including a brief overview of reimbursement system for medical devices, procedure coding for technology, diagnosis coding, payment mechanism for technology, reimbursement tariffs for technology, restrictions in indications or scenarios for use of technology, and technology-related policy considerations by payers and policymakers.

As per OECD, the US GDP was highest at 17.1% in 2017, followed by Switzerland (12.3%) and France (11.3%) to be the second- and third-highest spenders. However, Turkey (4.2%), Luxembourg (5.4%), and Mexico (5.4%) were among the lowest health care spenders, in terms of share of GDP. Moreover, from Asia Pacific region, India’s expenditure on the health sector has increased from 1.2% of the GDP in 2013–2014 to 1.4% in 2017–2018. The National Health Protection Scheme (Ayushman Bharat National Health Protection Mission) presents the financial protection of up to INR 5 lakh per family per year to 10.74 crore families for secondary and tertiary hospitalization. The cost by the government (central and state) has increased the total public health expenditure from INR 1.49 lakh crore in 2014–2015 to Rs 2.25 lakh crore in 2017–2018. Thus, such rise in the healthcare expenditure of countries is providing growth opportunities for the thrombectomy devices market players.

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The global thrombectomy devices market, based on type, has been segmented into mechanical thrombectomy devices, aspiration thrombectomy, devices, rheolytic thrombectomy devices and ultrasonic thrombectomy. The mechanical thrombectomy devices segment held the largest share of the market in 2018. Moreover, the reagent segment is anticipated to register the highest CAGR in the market during the forecast period.

Global Thrombectomy Devices Market – By Type