Catheter-Directed Thrombolysis Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Catheter-Directed Thrombolysis Market Analysis
The catheter-directed thrombolysis market is expected to grow at a CAGR of 4.2% over the forecast period.
Due to the high infection rate and lockdown regulations brought on by the COVID-19 pandemic, surgical procedures were affected tremendously. For instance, according to a March 2022 research study published in the National Library of Medicine, there was a 52.7% reduction in adult cardiac surgery volume and a 65.5% reduction in elective cases between February 2020 to January 2021, which indicated an adverse impact of COVID-19 on the cardiac surgical procedures in its initial phase. However, as the COVID-19 cases subsided in the latter stage, the market started to recover, leading to an increase in surgeries. For instance, in December 2021, a press release published by the Albanian Daily stated that in the first eight months of 2021, the number of cases treated in cardiac surgery had increased by 11% compared to the same period in 2020, according to data from the monitoring report of the Ministry of Health. Thus, receding COVID-19 cases led to an increasing number of heart surgeries, which increased the adoption of minimally invasive treatments such as catheter directed thrombolysis. Similarly, various companies were engaged in new product development, contributing to market growth. For instance, in February 2022, CERENOVUS, part of Johnson & Johnson Medical Devices Companies, launched EMBOGUARD, a next-generation balloon guide catheter to be used in endovascular procedures, including those for patients with acute ischemic stroke. Thus, as per the analysis, the pandemic affected the market's growth adversely in its preliminary phase; however, the market gained significant traction due to the surge in the number of cardiac procedures with respect to thrombolysis and growing product launches.
The catheter directed thrombolytic market is expected to witness significant growth over the forecast period. The primary driving factors for the growth of the market include an increase in the prevalence of peripheral artery disease (PAD), deep vein thrombosis, and pulmonary embolism, among others. For instance, according to a research study published by Aaron W. Aday and Kunihiro Matsushita in June 2021, atherosclerotic lower extremity peripheral artery disease (PAD) is one of the major factors responsible for cardiovascular morbidity and mortality, and it affects about 8.5 million adults in the United States, with a prevalence rate of 7%. This high prevalence of PAD is expected to increase the number of atherectomy procedures, which is anticipated to fuel the growth of the studied market. Similarly, according to the September 2021 update by the CDC, the major risk factors for PAD are smoking, high blood pressure, atherosclerosis, diabetes, high cholesterol, and age above 60 years. Further, as per the same source, approximately 6.5 million people aged 40 years and older in the United States have PAD. Thus, with the growing prevalence of risk factors and an aging population in the country, the burden of PAD is further expected to increase, which is expected to have a significant positive impact on the growth of the catheter-directed thrombolysis market.
Furthermore, product approvals for the use of catheters in thrombolytic procedures are expected to propel the market's growth as they increase the presence of innovative products in the market space, which, in turn, bolsters the success rate of the surgeries. For instance, in May 2022, Genesis MedTech Group and Shockwave Medical successfully obtained approval from China's National Medical Products Administration (NMPA) to market and sell the Shockwave intravascular lithotripsy (IVL) system with the Shockwave C2 coronary IVL catheters and the Shockwave M5 and S4 peripheral IVL catheters in China. Thus, increased heart disease and product approvals are expected to boost market growth over the forecast period.
However, stringent regulatory procedures and the high cost of product development are likely to hinder the market growth.
Catheter-Directed Thrombolysis Market Trends
This section covers the major market trends shaping the Catheter-Directed Thrombolysis Market according to our research experts:
Stroke Segment is Expected to Hold a Significant Market Share Over the Forecast Period
The stroke segment is anticipated to garner a substantial market share over the forecast period.
Factors such as the increasing prevalence of strokes and product developments are expected to boost the segment's growth. Moreover, the increasing prevalence of heart disease that might lead to stroke is one of the key factors in the segmental growth. For instance, the BHF report released in July 2021 estimated that over 7.6 million people in the United Kingdom are affected by heart and circulation disorders. Additionally, according to Blood Pressure Association research from June 2021, around 6 million people in the United Kingdom have high blood pressure and are unaware of it. As a result, rising cases of underlying causes are expected to drive segment growth, as these patients are at a higher risk of stroke and surgery.
Similarly, according to the September 2021 update from the CDC, hypertension significantly increases the risk for heart disease and stroke, and about 116 million adults in the United States have hypertension, of which about 37 million have uncontrolled hypertension. This factor signifies the high prevalence of associated risk factors, which is expected to impact the growth of the segment studied positively.
Product development is another factor impacting the segment's growth. For instance, in July 2022, ETH spin-off Nanoflex developed a magnetically steerable catheter for quick and safe stroke treatment that no longer requires surgeons to be on site. The catheter tip is bent in any direction due to a magnetic head and is also smaller, more maneuverable, and safer due to the softness of the material.
Thus, these factors mentioned above, such as product developments and an upsurge in the underlying causes of stroke, are expected to provide segmental growth over the forecast period.
North America Dominates the Market and Expected to continue in the Forecast Period
North America is projected to have a significant market share over the forecast period owing to favorable reimbursement policies and the availability of well-established healthcare infrastructure. In addition, the burden of cardiac patients and technological advancements in devices to produce better clinical outcomes are driving market growth in the region.
For instance, according to the April 2022 update of the CDC, about 795,000 cases of stroke are reported in the United States every year, of which 610,000 are first or new strokes. Further, of all reported stroke cases, approximately 87% are ischemic strokes, in which blood flow to the brain is blocked. According to the January 2022 update from the CDC, stroke or cerebrovascular disease is one of the major health concerns in the United States, with about 2.2 million visits to physicians' offices with stroke as a primary diagnosis and about 7.8 million adults who have ever had a stroke in the country. Additionally, as per the February 2022 report from the Heart and Stroke Foundation of Canada, 750,000 people were living with heart failure, and 100,000 people were diagnosed with this incurable condition each year in the country. It is projected that by 2030, the healthcare costs associated with heart failure in Canada will reach up to USD 2.8 billion per year.
Increasing clinical trials is another factor driving the market's growth. For instance, in April 2022, Microvention-Terumo, Inc. initiated a clinical trial to evaluate the safety and performance of the BOBBY Balloon Guide Catheter (BGC) in patients with an acute ischemic stroke, a sudden reduction or termination of the blood circulation of the brain caused by a clot. Such clinical trials are expected to provide suitable proof for the advantages of the catheter in stroke patients, which is expected to increase regional growth over the forecast period.
Catheter-Directed Thrombolysis Industry Overview
The catheter-directed thrombolysis market is moderately competitive with a limited number of players. The key companies and the new ones are focused on new developments and technological advancements, which are expected to increase competition in the area further. The key market players include Boston Scientific Corporation, Medtronic Plc, AngioDynamics, Inc., Thrombolex, and Edward Lifesciences Corporation, among others.
Catheter-Directed Thrombolysis Market Leaders
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Boston Scientific Corporation
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AngioDynamics, Inc.
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Thrombolex
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Medtronic Plc
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Edwards Lifesciences Corporation
*Disclaimer: Major Players sorted in no particular order
Catheter-Directed Thrombolysis Market News
- In November 2022, the FDA approved Genesis MedTech's Chocolate Touch drug-coated balloon catheter, an alternative to traditional drug-coated balloon angioplasty for peripheral artery disease.
- In April 2022, Shockwave Medical launched the Shockwave M5+ peripheral intravascular lithotripsy (IVL) catheter after receiving both a CE mark and FDA clearance.
Catheter-Directed Thrombolysis Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Prevalence of Peripheral Artery Diseases, Venous Thromboembolism, and Coronary Diseases
- 4.2.2 Growing Demand for Minimally Invasive Surgeries and Advancements in Technologies
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4.3 Market Restraints
- 4.3.1 Availability of Alternative Treatments
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Application
- 5.1.1 Deep Vein Thrombosis
- 5.1.2 Pulmonary Embolism
- 5.1.3 Stroke
- 5.1.4 Other Applications
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5.2 By End-User
- 5.2.1 Hospitals
- 5.2.2 Ambulatory Surgical Centers
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5.3 By Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 AngioDynamics, Inc.
- 6.1.2 BD
- 6.1.3 Boston Scientific Corporation
- 6.1.4 Edwards Lifesciences Corporation
- 6.1.5 Euphrates Vascula
- 6.1.6 Inari Medical, Inc.
- 6.1.7 iVascular SLU
- 6.1.8 Medtronic Plc
- 6.1.9 Penumbra, Inc.
- 6.1.10 Teleflex Incorporated
- 6.1.11 Thrombolex Inc
- 6.1.12 UN&UP LLC
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityCatheter-Directed Thrombolysis Industry Segmentation
Catheter-directed thrombolysis is a minimally invasive treatment that removes clots in blood vessels through the introduction of lytic solutions using catheters.
The Catheter-Directed Thrombolysis Market is Segmented by Application (Deep Vein Thrombosis, Pulmonary Embolism, Stroke, and Other Applications), End User (Hospitals and Ambulatory Surgical Centers), and Geography ((North America (United States, Canada, and Mexico), Europe ) Germany, United Kingdom, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), Middle East and Africa (GCC, South Africa, and the Rest of Middle East and Africa), and South America Brazil, Argentina, and Rest of South America)). The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers value (in USD million) for the above segments.
| By Application | Deep Vein Thrombosis | |
| Pulmonary Embolism | ||
| Stroke | ||
| Other Applications | ||
| By End-User | Hospitals | |
| Ambulatory Surgical Centers | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| By Geography | Asia Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| By Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Catheter-Directed Thrombolysis Market Research FAQs
What is the current Catheter-Directed Thrombolysis Market size?
The Catheter-Directed Thrombolysis Market is projected to register a CAGR of 4.20% during the forecast period (2024-2029)
Who are the key players in Catheter-Directed Thrombolysis Market?
Boston Scientific Corporation, AngioDynamics, Inc., Thrombolex, Medtronic Plc and Edwards Lifesciences Corporation are the major companies operating in the Catheter-Directed Thrombolysis Market.
Which is the fastest growing region in Catheter-Directed Thrombolysis Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Catheter-Directed Thrombolysis Market?
In 2024, the North America accounts for the largest market share in Catheter-Directed Thrombolysis Market.
What years does this Catheter-Directed Thrombolysis Market cover?
The report covers the Catheter-Directed Thrombolysis Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Catheter-Directed Thrombolysis Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Catheter-Directed Thrombolysis Industry Report
Statistics for the 2024 Catheter-Directed Thrombolysis market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Catheter-Directed Thrombolysis analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
