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Cardiovascular Medical Lasers Global Market Report 2021: COVID-19 Growth And Change To 2030

Cardiovascular Medical Lasers Global Market Report 2021: COVID-19 Growth And Change To 2030

  • September 2021
  • 175 pages
  • ID: 6151620
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the cardiovascular medical lasers market are Boston Scientific Corp, Cardiovascular Systems, AngioDynamics, Royal Philips NV, and RA Medical Systems.

The global cardiovascular medical lasers market is expected to grow from $0.12 billion in 2020 to $0.12 billion in 2021 at a compound annual growth rate (CAGR) of 0.8%. The slow growth is mainly due to defering treatments that led to fall in the demand comparatively for the equipment. The market is expected to reach $0.52 billion in 2025 at a CAGR of 42%.

The cardiovascular medical lasers market consists of the sale of cardiovascular medical lasers and related services by entities that manufacture them. Cardiovascular medical lasers are used in the treatment of heart-related medical conditions especially for clearing heart blockages.

The cardiovascular medical lasers market covered in this report is segmented by type into excimer laser, carbon dioxide laser; application into laser vascular anastomosis, transmyocardial laser revascularization, laser angioplasty for peripheral arterial diseases.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Alternative treatment methods for cardiovascular ailments are increasingly becoming popular globally and this is expected to have a negative impact on the revenues of the cardiovascular medical laser market.Treatments of heart diseases using medical procedures such as coronary angioplasty, stent implantation, thrombolytic therapy, coronary artery bypass graft surgery (CABG), artificial pacemaker surgery, defibrillation, and heart valve surgery are more commonly used for the treatment of heart disease compared to the treatments employing lasers.

According to a 2018 study by iData Research, around 340,000 CABG procedures are performed per year in the United States. This trend is expected to continue during the forecast period and limit the demand for cardiovascular medical lasers.

In October 2019, AngioDynamics Inc., a US-based medical device company, acquired Eximo Medical for $66million. This acquisition extends the current product line of AngioDynamics vascular treatments and therapies by incorporating the patented 355nm laser atherectomy system from Eximo, which has earned 510(k) approval for use in the treatment of peripheral artery disease. Eximo Medical is an Israeli medical device company that offers minimally invasive medical devices used for cardiovascular diseases and oncology.

The rising prevalence of cardiovascular diseases is expected to drive the cardiovascular medical laser market.The increased prevalence of cardiovascular diseases can be attributed to the increase in the use of smoking, physical inactivity, and unhealthy diet.

For instance, according to the World Health Organization, in 2019, 17.9 million people died from cardiovascular diseases worldwide. According to the British Heart Foundation, the coronary heart disease is responsible for around 64,000 deaths in the UK each year, an average of 180 people each day, or one death around every eight minutes. One in seven men and one in 12 women in the UK die from coronary heart disease. Therefore, the increasing prevalence of cardiovascular diseases is expected to drive the growth of cardiovascular medical lasers.

Cardiovascular medical laser manufacturers are constantly investing in technologies for faster diagnosis and efficient treatment of heart conditions.Areas of technological advances include new wavelengths, more rugged setups, lower-cost systems, and other advancements are being combined with minimally invasive techniques.

In May 2017, FDA cleared Ra Medical’s vascular products including cardiovascular lasers that can be used to treat peripheral arteries and veins. The laser works at 308 nanometer wavelength, which breaks chemical bonds and decomposes the blockage into its part, thereby reducing the risk for the patient.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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