Tag: laser atherectomy devices market growth

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How Rapidly is the Laser Atherectomy Devices Market Forecasted to Grow Between 2024 and 2033?

In recent times, there has been a significant expansion in the market for laser atherectomy devices. The market is projected to increase from $1.16 billion in 2023 to $1.25 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The surge in growth during the historical time frame can be associated with the uptick in cardiovascular disease cases, the treatment of intricate lesions, the rise of minimally invasive techniques, enhancements in device architecture, and proven clinical evidence of effectiveness.

Expectations are high for the laser atherectomy devices market, with considerable growth projected over the next several years. It is forecasted that the market will expand to a value of $1.68 billion in 2028, corresponding to a compound annual growth rate (CAGR) of 7.5%. Factors contributing to this anticipated growth within the forecast period include increased demand for less invasive medical procedures, a rising number of cardiovascular conditions, growth in regulatory approvals, enhancements in the safety and proficiency of devices, and physician training initiatives. The forecast period also sees trends such as an emphasis on patient-centered care, device miniaturization and portability, personalized treatment plans, incorporation of imaging technologies, and priority on safety and effectiveness.

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What Factors Are Behind the Rapid Growth of the laser atherectomy devices Market?

The proliferation of atherosclerosis is anticipated to amplify the expansion of the laser atherectomy devices market. Atherosclerosis is a condition in which fat accumulates inside the arteries, making them constrict and solidify. This compromises the circulation of blood to critical organs and tissues, potentially resulting in severe health issues such as heart disease, stroke, and peripheral artery disease. A laser atherectomy device is employed for the treatment of atherosclerosis. The device operates by utilizing a laser to eradicate the plaque, which is subsequently extracted from the body via a catheter. For example, in September 2021, Medical News Today, a UK-based online medical news provider, reported that 42 percent of adults without heart disease had atherosclerosis, with older males being more commonly affected. In addition, in August 2022, the National Library of Medicine, a U.S. biomedical library, stated that atherosclerosis was responsible for approximately 50 percent of all deaths. As such, an escalation in the incidence of atherosclerosis is stimulating the growth of the laser atherectomy devices market.

What Are the Principal Segments of the Laser Atherectomy Devices Market?

1) By Type: Computer Control, Other Types

2) By Application: Cardiovascular, Peripheral Vascular, Neurovascular

3) By End-User: Hospitals And Surgical Centers, Ambulatory Care Centers, Other End-Users

What Emerging Patterns Are Redefining the Laser Atherectomy Devices Market?

Prominent businesses functioning in the laser atherectomy devices market are focusing on introducing innovative items such as atherectomy systems for enlarging their customer reach, boosting sales, and escalating revenue. Atherectomy systems are medical apparatus specifically devised to extract atherosclerotic plaque from blood vessels. For example, in August 2022, AngioDynamics Inc., a company that specializes in medical devices based in the US, declared they obtained clearance from the United States Food and Drug Administration (FDA) for Expanded Indications for the Auryon Atherectomy System. This unique system is acknowledged for its effectiveness in dealing with all types of infrainguinal lesions, including those above-the-knee (ATK), below-the-knee (BTK), and in-stent restenosis (ISR). The Auryon Atherectomy System, which utilizes state-of-the-art technology, offers powerful treatment for arterial obstructions. Importantly, it is exceptionally recognized as the first laser atherectomy system to treat efficiently any kind of lesion, regardless of its type, length, or location, with minimal damage to vessel walls.

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Which Geographical Regions Are Shaping the Laser Atherectomy Devices Market Growth?

North America was the largest region in the laser arthectomy devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global laser atherectomy devices market report during the forecast period. The regions covered in the laser atherectomy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Laser Atherectomy Devices Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the laser atherectomy devices market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Laser Atherectomy Devices Market Include

1. Laser Atherectomy Devices Market Executive Summary

2. Laser Atherectomy Devices Market Segments

3. Laser Atherectomy Devices Market Size And Template Market Growth Rate

4. Key Laser Atherectomy Devices Market Trends

5. Major Laser Atherectomy Devices Market Drivers

……

25. Key Mergers And Acquisitions In The Laser Atherectomy Devices Market

26. Top Laser Atherectomy Devices Companies

27. Laser Atherectomy Devices Market Opportunities And Strategies

28. Laser Atherectomy Devices Market, Conclusions And Recommendations

29. Appendix

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An Overview of Market Dynamics and Trends

The Surge In Atherosclerosis Prevalence And Its Impact On The Laser Atherectomy Devices Market

• Atherosclerosis: A Growing Health Concern
• Utilization of Laser Atherectomy Devices
• Prevalence Statistics and Impact Factors
• Market Players and Key Contributors

A rise in the prevalence of atherosclerosis is expected to propel the growth of the laser atherectomy devices market. Atherosclerosis refers to a medical condition in which fat builds up inside the arteries, causing them to narrow and harden. This can restrict blood flow to vital organs and tissues and lead to serious health complications such as heart disease, stroke, and peripheral artery disease. A laser atherectomy device is used in the treatment of atherosclerosis. The device works by using a laser to vaporize the plaque, which is then removed from the body through a catheter. For instance, in September 2021, according to the reports shared by Medical News Today, a UK-based web-based medical information provider, atherosclerosis was present in 42 percent of adults without heart disease, and atherosclerosis was more prevalent among the older male participants. Furthermore, in August 2022, according to the National Library of Medicine, a US-based biomedical library, atherosclerosis was the primary factor for around 50 percent of all fatalities. Therefore, a rise in the prevalence of atherosclerosis is driving the growth of the laser atherectomy devices market.

Major companies operating in the laser atherectomy devices market report are Boston Scientific Corporation, Terumo Corporation, Medtronic PLC, Avinger Inc., Cardiovascular Systems Inc., Koninklijke Philips N.V., AngioDynamics Inc., Becton, Dickinson and Company, Eximo Medical Ltd., Cardinal Health, B. Braun SE, C. R. Bard Inc., Abbott Laboratories, Biotronik SE & Co. KG, Rex Medical, Spectranetics Corporation, Straub Medical AG, Vascular Solutions Inc., Volcano Corporation, Atrium Medical Corporation, Bayer AG, Biosensors International Group Ltd., Cook Medical LLC, Cordis Corporation, Covidien PLC, Medtronic Vascular, Shockwave Medical Inc., Acotec Scientific Holdings Ltd., Advanced Catheter Therapies Inc., ArioMedica Ltd.

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Product Innovations In The Laser Atherectomy Devices Market

• Driving Forces Behind Innovation
• Case Studies of Innovative Products
• Impact on Market Dynamics

Major companies operating in the laser atherectomy devices market are developing innovative products such as atherectomy systems to meet larger customer bases, more sales, and increase revenue. An atherectomy system is a medical device designed for the removal of atherosclerotic plaque from blood vessels. For instance, in August 2022, AngioDynamics Inc., a US-based medical device company, announced the United States Food and Drug Administration (FDA) clearance of Expanded Indications for Auryon Atherectomy System. The distinctive feature of the Auryon Atherectomy System lies in its ability to effectively address all infrainguinal lesion types, encompassing above-the-knee (ATK), below-the-knee (BTK), and in-stent restenosis (ISR). Utilizing cutting-edge technology, the Auryon Atherectomy System delivers potent treatment for arterial occlusions. Notably, it stands out as the pioneering laser atherectomy system capable of efficiently treating lesions of any type, length, and location with minimal impact on vessel walls. Abbott Laboratories Acquired Cardiovascular Systems Inc. In April 2023, Abbott Laboratories, a US-based medical device company, acquired Cardiovascular Systems, Inc. for an undisclosed amount. As a result of the acquisition, Abbott gains a complementary solution for addressing vascular disease, incorporating CSI’s leading atherectomy system designed to prepare vessels for angioplasty or stenting, thereby restoring blood flow. This strategic move, acquiring CSI, is part of Abbott’s broader investment in its vascular portfolio, strengthening their capacity to provide comprehensive care for patients dealing with peripheral and coronary artery disease. Cardiovascular Systems Inc. is a US-based manufacturer of atherectomy devices.

Market Segmentation and Regional Analysis

• Segmentation Overview
• Regional Insights and Growth Prospects

The laser atherectomy devices market covered in this report is segmented –

1. By Type: Computer Control, Other Types
2. By Application: Cardiovascular, Peripheral Vascular, Neurovascular
3. By End-User: Hospitals And Surgical Centers, Ambulatory Care Centers, Other End-Users North America was the largest region in the laser atherectomy devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global laser atherectomy devices market report during the forecast period.

In conclusion, the laser atherectomy devices market is witnessing robust growth driven by the surge in atherosclerosis prevalence, product innovations, strategic acquisitions, and market segmentation strategies. With a promising forecast ahead, stakeholders in this sector are poised for significant opportunities and advancements in patient care and treatment modalities.

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