According to market intelligence experts Millennium Research Group (MRG), the most significant growth in the European clot management device market through 2016 will occur in mechanical thrombectomy procedures. The overall European clot management device market will grow by eight percent annually to reach a value of nearly $200 million by 2016.
Evidence Based Market Growth
Percutaneous thrombectomy devices, particularly mechanical thrombectomy devices, will grow from a relatively small base. These devices fill a previously unmet medical need in the percutaneous management of clots in the arteriovenous (AV) access, peripheral artery, venous and coronary indications. Since physicians generally choose brands based on clinical evidence, companies seeking to enter this active market are focusing on gathering clinical data to prove the efficacy and safety of their devices. A number of randomized trials are underway, including ATTRACT and TAPAS II.
Reimbursement and Application Expansion are Key
So far, only the German health system has approved reimbursement for these devices. As a result, Germany makes up more than half the total market. If, as expected, France approves reimbursement for mechanical thrombectomy in the peripheral vessels, this will lead to further growth in the segment by 2016.
“Mechanical thrombectomy is an active market in Europe, and new competitors are being attracted by its growth potential”
The venous indication will see a 17 percent average annual growth and the peripheral artery indication a 12 percent average annual growth through 2016. The growth in these two indications will drive the overall market. Although mechanical thrombectomy procedures are only a quarter of overall thrombectomies, the high average selling price of the devices means they make up more than half of total market value.
“Mechanical thrombectomy is an active market in Europe, and new competitors are being attracted by its growth potential,” said MRG Analyst Fareed Hameed. “We’ve seen a number of new devices since 2009, including Thromcat XT from Spectranetics as well as Rotarex S and Aspirex S from Straub Medical. In granting Class III CE Mark, the indications treatable by the Straub devices were expanded to include venous use, which should have a particularly big effect in Germany.”
Straub Medical and MEDRAD Interventional are currently the largest competitors in the European mechanical thrombectomy market, with the rest split between Arrow International (a Teleflex Medical company), Spectranetics and several smaller competitors.
Millennium Research Market Report
Millennium Research Group’s European Markets for Clot Management Devices 2012 report includes procedure, unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for percutaneous thrombectomy devices, embolectomy balloon catheters, CDT devices, IVCFs and neurovascular embolectomy devices in France, Germany, Italy and the United Kingdom.
Source: Millennium Research Group