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Laser Atherectomy Devices Market Size, Trends, Share, Key Insights And Outlook By 2033
The Business Research Company recently released a comprehensive report on the Global Laser Atherectomy Devices Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.According to The Business Research Company's, The laser atherectomy devices market size has grown strongly in recent years. It will grow from $1.16 billion in 2023 to $1.25 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to rise in cardiovascular diseases, treatment of complex lesions, minimally invasive procedures, improvements in device design, clinical evidence and efficacy.
The laser atherectomy devices market size is expected to see strong growth in the next few years. It will grow to $1.68 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to demand for minimally invasive procedures, rise in cardiovascular conditions, expansion of regulatory approvals, advancements in device safety and efficiency, physician training programs. Major trends in the forecast period include patient-centric care, miniaturization and device portability, personalized treatment approaches, integration of imaging technologies, focus on safety and efficacy.
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Market Drivers and Trends:
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 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.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
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.
Laser Atherectomy Devices Market 2024 Key Insights:
• The laser atherectomy devices market will grow to $1.68 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
• The Surge In Atherosclerosis Prevalence And Its Impact On The Laser Atherectomy Devices Market
• Product Innovations In The Laser Atherectomy Devices Market
• North America was the largest region in the laser arthectomy devices market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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