Blood Clot Retrieval Devices Market Size, Share and COVID-19 Impact Analysis, By Product Type (Stent Retrievers, Aspiration Devices, and Others), By Application (Neurovascular, Cardiovascular, and Peripheral), By End User (Hospitals & ASCs, Specialty Clinics, and Others) and Regional Forecast, 2025-2032

Blood clot retrieval devices are medical devices that help remove blood clots and open the blood vessels. There are procedures such as thrombectomy, and embolectomy, among others, that use various devices and mechanisms to remove the blood clots. The main aim of using these devices is to remove blood clots from arteries, and veins and restore normal blood flow. Also, the clot can move through the bloodstream and can get stuck in a narrow passageway leading to life-threatening conditions.

The growing incidence of conditions such as ischemic stroke, pulmonary embolism, and others is one of the major factors leading to a rising patient population globally. The rising awareness and diagnosis rate among the population regarding these conditions and available treatment options are some of the major factors favoring the demand for these devices in the market.

• According to 2022 statistics published by World Stroke Organization (WSO), there are around 7.6 million ischemic strokes every year, and also around 62% of all new strokes.
• Similarly, according to American Society of Hematology estimates, every year around 900,000 people in the U.S. is affected by deep vein thrombosis.

Moreover, the increasing focus of the major players operating in the market to develop and introduce products with technical advancements to cater to the rising demand among the patient population and healthcare providers is another crucial factor contributing to market growth.

• For instance, in January 2023, Imperative Care, Inc., received the U.S. FDA approval for its Zoom RDL Radial Access System. The innovation is developed with an aim to specifically treat ischemic stroke.

Impact of COVID-19 on the Blood Clot Retrieval Devices Market

The COVID-19 pandemic had a significant impact on the blood clot retrieval devices market. The market witnessed a decline during the initial phase of the pandemic owing to the disruption in the demand and supply chain and the reduction in patient visits to hospitals, and clinics for diagnosis and treatment. There was a decrease in the patient volume during the initial outbreak of COVID-19 owing to the fear of contracting infection.

• According to a 2021 article published by National Center for Biotechnology Information (NCBI), several countries reported a decline of around 50-80% in the number of acute stroke admissions during the COVID-19 pandemic.

Additionally, the major players operating in the market witnessed a decrease in revenue owing to the reduced number of procedures and patient visits during the pandemic.

• For instance, Medtronic generated a revenue of USD 10,468 million in 2020 from its cardiovascular portfolio, witnessing a decline of around 9.9% as compared to 2019.

However, with the upliftment of lockdown restrictions, patient visits to hospitals and clinics gradually increased. The increased visits led to higher diagnosis and treatment rates among the patient population globally, and augmented the demand for these devices. The major players operating in the market witnessed a slow recovery in their revenues.

• For instance, Medtronic generated a revenue of USD 10,772 million in 2021 from its cardiovascular portfolio and witnessed a growth of around 2.9% as compared to the previous year.

Key Insights

The report will cover the following key insights:

• Prevalence of Key Disorders (Ischemic Stroke, Pulmonary Embolism, etc.), Key Countries, 2022.
• Technological Advancements in Blood Clot Retrieval Devices.
• New Product Launches, Key Players.
• Key Industry Developments (Mergers, Acquisitions, and Partnerships).
• Impact of COVID-19 on the market.

Analysis by Product Type

Among the product type segment, stent retrievers accounted for a significant market share in the global blood clot retrieval devices market. The growing prevalence of cardiovascular conditions such as stroke, heart blockage, among others, and various neurovascular conditions among the population is one of the key factors increasing the adoption of these devices. Furthermore, approval and launch of stent retrievers by companies operating in the market to cater to the rising demand among patients suffering from stroke are anticipated to propel the blood clot retrieval devices market during the forecast period.

• For instance, in September 2021, Abbott acquired Walk Vascular, LLC, a medical company focused on the development of minimally invasive thrombectomy systems, with an aim to expand its peripheral vascular product portfolio.

Regional Analysis

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North America is projected to dominate the blood clot retrieval devices market and will continue to grow during the forecast period. The rising prevalence of stroke and other cardiovascular conditions, growing demand for minimally invasive procedures, rising initiatives by the key players in strengthening their foothold in the region, and availability of reimbursement for these devices are a few factors augmenting the market.

• In July 2022, Rapid Medical, one of the leading manufacturers of advanced neurovascular devices, received the FDA 510k clearance for its TIGERTRIEVER 13. This makes the world’s smallest and only adjustable thrombectomy device.

Additionally, rising initiatives to create awareness regarding these conditions, and procedures in emerging countries by various national and international organizations, key companies, and others along with improving healthcare infrastructure in these countries are fueling the market growth in the region.

• For instance, in August 2022, phenox GmbH expanded its geographical presence in Brazil with the introduction of its pRESET mechanical thrombectomy device for the treatment of acute ischemic stroke.

Hence, all the factors mentioned above are expected to support the growth of the blood clot retrieval devices market in various regions.

Key Players Covered

The report will include the profiles of key players such as Abbott, Medtronic, Boston Scientific Corporation, Penumbra, Inc., Stryker, Medtronic, Terumo Corporation, NeuroVasc Technologies, Inc., and others.

Segmentation

Key Industry Developments

• February 2022: Cardiovascular Systems, Inc., partnered with Innova Vascular, Inc., with an aim to develop and introduce novel thrombectomy devices.
• September 2021: Boston Scientific Corporation entered into a strategic agreement to acquire Devoro Medical Inc., with an aim to strengthen its product portfolio in mechanical thrombectomy devices.
• July 2021: Surmodics Inc. one of the leading providers of medical devices and IVD technologies, acquired Vetex Medical Limited, with an aim to expand its product portfolio.