23 Aug 2020
Posted in Medical Devices
RapidAI software could accelerate growth of thrombectomy procedures following FDA approval, says GlobalData
RapidAI recently received FDA clearance for its large vessel occlusion (LVO) detection software, which is claimed to identify suspected LVOs in as few as three minutes. Data and analytics company GlobalData expects that this software has the potential to rapidly increase the patient pool of LVO patients to above 15%, in turn increasing market opportunity for manufacturers in this space.
LVOs are the most disabling ischemic strokes for which thrombectomy procedures have been shown to produce effective outcomes. However, treatment is time-sensitive and only select patients are eligible for treatment. GlobalData estimates that there are over 300,000 LVO cases per year in the US but only around 10-15% of all LVOs undergo thrombectomy procedures for these reasons.
Sheryl Tang, Principal Medical Devices Analyst at GlobalData, comments: “Rapid LVO will allow physicians to screen patients at a much faster rate, potentially identifying and triaging eligible patients that were previously missed, or were identified as being eligible, but had passed the allotted time window for receiving a thrombectomy procedure due to slower decision making. RapidAI is currently the only clinically validated platform and is considered the gold standard for advanced cerebrovascular imaging.
“GlobalData estimates that while the number of thrombectomy procedures is currently growing at a compound annual growth rate (CAGR) of 10%-15% each year due to better availability of resources and education, RapidAI’s software could potentially accelerate this into a high double-digit growth, as more patients are treated.
“The rapid growth of thrombectomy procedures will open up many opportunities in thrombectomy devices, particularly in aspiration catheters. These devices are continuously improving, allowing for faster removal of the clot compared to stent retrievers, and are growing among new physicians and facilities as the first line of treatment due to their ease of use. This creates a huge opportunity for existing manufacturers dominating this space such as MicroVention and Penumbra to continue gaining a larger share of the ischemic stroke market.”
If you want to find out more, contact Rebecca Panks, PR Executive at GlobalData (firstname.lastname@example.org)