07 Apr 2021
Posted in Medical Devices
Thrombectomy market to reach $465m in 2025 driven by newly approved adjustable stent retriever, says GlobalData
The thrombectomy market was estimated to be worth approximately $265m in 2020 in the US and this is expected to grow to $465m in 2025, according to GlobalData, a leading data and analytics company.
GlobalData’s report, ‘Neurovascular Thrombectomy Devices (Neurology Devices)’, reveals that this growth will be driven by an increase in thrombectomy procedures and the newly approved adjustable stent retriever device.
The Food and Drug Administration (FDA) recently approved Rapid Medical’s TIGERTRIEVER, the first adjustable stent retriever approved in the US, following promising results from a multi-center trial. The TIGERTRIEVER’s main advantage over current stent retrievers is that the diameter of the basket, where a clot is caught and extracted, can be adjusted via a slide on the handle of the device. This allows neuro physicians greater control over the procedure, increasing patient compatibility and potentially lowering the risk of clot fragmentation.
Dominic Tong, Medical Devices Analyst at GlobalData, comments: “Mechanical thrombectomy has become increasingly popular in recent years compared to managing stroke patients using medical managements, as early clinical studies suggest that it potentially leads to improved clinical outcomes. Stent retrievers aim to trap a clot within their basket, allowing the clots to be removed from the blood vessel, while aspiration catheters rely on suction to remove the clots.
“Any innovations that further increase the efficacy and safety of mechanical thrombectomy are welcome. With continual improvements, mechanical thrombectomy may eventually overtake medical management as the preferred treatment for some cases.
“Additionally, while the thrombectomy market has been relatively resilient through the COVID-19 pandemic, it still experienced a drop in revenue that was potentially due to increased hospital load making it harder for operations to happen within eight hours of symptom onset. As vaccines rollout and hospitals return to business as usual, Rapid Medical has an opportunity to capitalize on the rebounding market and capture more market share during this period of recovery.”