Recanalization Devices Market Size, Share, and Analysis, By Product (Catheters, Stents, Balloons, Guidewires, and Others), By Application (Fallopian Tube Recanalization, Endovascular Recanalization, and Others), By End-user (Hospitals, Specialty Clinics, and Research Institutions), and Regional Forecast till 2032

Recanalization is a process of reopening a previously blocked passageway within a bodily tube, most commonly the blood vessels or other tubular structures. A blood vessel may be blocked by an embolus or thrombus, trauma or injury, inflammation, atherosclerosis, and genetic factors. Recanalization can occur naturally inside the body via angiogenesis, inflammatory response, as well as cellular migration and proliferation. However, several times it needs medical intervention. Medical intervention for the recanalization of bodily tubes involves the usage of recanalization devices for the treatment of several blockage conditions in the fallopian tube, endovascular, and gastrointestinal.

Recanalization devices are specialized medical tools that are utilized to reopen the blocked or narrowed passages inside the body and restore blood flow. These devices play a crucial role in restoring the blood flow caused by various factors such as blood clots and atherosclerosis. Owing to this importance in the treatment of several medical conditions, the adoption of these devices is increasing, which propels the market growth.

Recanalization devices have a number of applications in the treatment of cardiovascular diseases, neurovascular diseases, peripheral vascular diseases, obstructed fallopian tubes, and endovascular surgery. The increase in the global prevalence of such cardiovascular disorders and other related conditions has increased the demand for the advancement of recanalization devices. This rising demand has significantly driven their adoption in various treatment and surgical interventions, which has propelled the growth of the global recanalization devices market.

• For instance, according to the Centers for Disease Control and Prevention, in May 2023, approximately 1 in 20 adults aged 20 and older is living with coronary artery disease (CAD) in the U.S.

Moreover, the advancements in recanalization devices have fueled their use in interventional radiology and vascular surgery, leading to safer, non-invasive, improved outcomes, and shortened recovery times, which boosts market growth.

Impact of COVID-19 on the Recanalization Devices Market

The global recanalization devices market witnessed a negative impact during the COVID-19 pandemic. During the COVID-19 outbreak, the utilization of primary percutaneous coronary intervention (PCI) ST-segment elevation myocardial infarction (STEMI) in hospitals was significantly reduced, which lowered the adoption of recanalization devices such as stents and catheters, affecting their market growth during the COVID-19 pandemic.

• For instance, according to the NCBI, in November 2021, Beijing, China, reported a 19.0% decline in total number of ST-segment elevation myocardial infarction (STEMI) patients undergoing primary PCI at the peak of the pandemic in 2020 compared to 2019.

Moreover, there was a sharp decline in cardiac surgery, as well as open and endovascular aortic surgeries, which affected the adoption of recanalization devices during the pandemic.

• For instance, according to Frontiers Media S.A., in August 2022, a study by Miranda et al., reported the highest decline in venous pathology, followed by endovascular procedures and aortic aneurysm repair.

Segmentation

Key Insights

The report covers the following key insights:

• Prevalence of Key Diseases by Key Countries/Regions, 2023


• Technological Advancements in Recanalization Devices


• New Product Launches


• Key Industry Developments (Mergers, Acquisitions, Partnerships, and Others)


• Impact of COVID-19 on the market  

Analysis by Device Type

Based on device type, the stents segment is anticipated to witness significant growth during the forecast period. The expansion can be highly attributed to the increasing use of stents in endovascular procedures, most commonly in acute ischemic stroke, peripheral artery disease, and coronary artery disease. The large number of existing and new cases of these conditions worldwide fuels the adoption of these recanalization devices and increases the endovascular surgical volume, which boosts the market growth.

• According to the Journal of Vascular Surgery, the volume of both open and endovascular procedures for peripheral artery disease (PAD) has increased from 2012 to 2022.


• According to the American College of Cardiology, in July 2023, more than 12.0 million Americans and 200.0 million individuals are currently living with peripheral artery disease (PAD).

Regional Analysis

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North America is expected to hold the largest share in the recanalization devices market and continue its dominance during the forecast period. The growth is primarily driven by the presence of established players involved in the manufacturing, development, and commercialization of the recanalization devices used for the treatment of patients with endovascular and fallopian tube conditions in this region. Moreover, the aging population significantly contributes to the higher incidence of such conditions, which boosts the adoption of recanalization devices in this region.

• According to the U.S. Census Bureau, the geriatric population in the U.S. increased by 16.8% of the total population in 2020 compared to 4.7% in 1920. (May 2023)

This surge in the geriatric population significantly contributes to the higher incidence of medical conditions that require endovascular intervention, driving the demand for adoption of recanalization devices.

The Asia Pacific market is projected to expand at a noteworthy CAGR over the forecast period. The growth can be attributed to the increasing healthcare expenditure in countries such as India and China. Moreover, initiatives from government agencies and employer-sponsored health insurance to provide advanced treatment for cardiovascular diseases, involving the use of recanalization devices, fuel the market growth in this region.

Key Players Covered

The report includes the profiles of key players such as BD, Medtronic, Boston Scientific Corporation, Stryker, Abbott, Terumo Medical Corporation, Johnson & Johnson Services, Inc., Cook, and other prominent players.

Key Industry Developments

• In June 2023, Terumo Medical Corporation’s subsidiary, MicroVention Inc., announced the commercial launch of an Eric retrieval device to treat ischemic stroke in the U.S. Moreover, the device received the U.S. FDA 510(k) clearance in March 2022.


• In February 2022, Johnson & Johnson Services, Inc.’s part, CERENOVUS, launched EMBOGUARD, a next-generation balloon guide catheter to be utilized in endovascular procedures, including for individuals with acute ischemic stroke.

In January 2022, BD launched a novel Crosser iQ chronic total occlusion (CTO) recanalization system, which was developed to help enhance the CTO crossing predictability to aid clinicians in the treatment of challenging lesions.