Laser Atherectomy Devices Market Worth US$ 370.53 Million by 2031 – Growth Plus Reports

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Newark, New Castle, USA, July 05, 2023 (GLOBE NEWSWIRE) — In accordance with the recent analysis conducted by Growth Plus Reports, the global laser atherectomy devices market was estimated to be valued at US$ 195.21 Million in 2022. It is projected to experience a steady growth rate, with a revenue compound annual growth rate (CAGR) of 7.38% from 2023 to 2031. By the end of 2031, the market is expected to reach a noteworthy value of US$ 370.53 Million. This signifies promising opportunities for the laser atherectomy device industry in the coming years.

The global market for laser atherectomy devices was analyzed and is expected to rise significantly during the forecast period. A minimally invasive medical procedure called laser atherectomy uses laser light to remove or melt atherosclerotic plaque from arteries, which are blood vessels that have narrowed or obstructed due to the buildup of fatty deposits.

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                             Laser Atherectomy Devices Market Scope

Report Attribute Details
Market Size Value in 2022 US$ 195.21 Million
Market Size Value in 2031 US$ 370.53 Million
Growth Rate CAGR of 7.38% from 2023 to 2031
Base Year for Estimation 2022
Forecast Period 2023 to 2031
Historical Year 2021
Segments Covered Application, End User, and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Key Takeaways:

  • The prevalence of peripheral artery disease (PAD) is driving the market revenue share.
  • The increase in minimally invasive treatment options has contributed to awareness among the population.
  • Advancements in laser technology efficient and precise laser atherectomy is accelerating overall market revenue.
  • Recent Development in the Global Laser Atherectomy Devices Market:
  • In October 2020, AngioDynamics, Inc. launched the Auryon Atherectomy System. It is a novel therapeutic therapy for PAD, including critical limb ischemia (CLI) and in-stent restenosis (ISR).

Competitive Landscape

A list of the prominent players operating in the global market for laser atherectomy devices:

  • BD Interventional
  • Terumo Corp.
  • Avinger Inc.
  • AngioDynamics, Inc.
  • Boston Scientific Corp.

Market Drivers and Restraints:

The global laser atherectomy devices market revenue is driven by the inclination of the population towards minimally invasive procedures, continual commercialization, and advanced product development.

However, the high expense of laser atherectomy equipment and the scarcity of trained personnel in poor nations are expected to restrain revenue growth of the global laser atherectomy devices market.

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Market Segmentation:

Segmentation By Application

Based on applications, the global laser atherectomy devices market is segmented into cardiovascular, neurovascular, and peripheral vascular diseases. Due to the rising preference for minimally invasive techniques and the development of peripheral vascular disorders like atherosclerosis, the peripheral vascular diseases segment accounts for the largest market revenue share.

Segmentation By End User

Based on the end-user, the global laser atherectomy devices market is segmented into hospitals & surgical centers, ambulatory care centers, and others. The hospital segment, with the largest revenue share, dominates the global market due to high patient preference and advanced healthcare infrastructure.

Regional Growth Dynamics

Based on the region, the global laser atherectomy devices market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Due to the area’s established healthcare infrastructure, high prevalence of cardiovascular diseases, and the growing uptake of cutting-edge technology, North America accounts for the largest revenue share in the global market.

Report Coverage

Growth Plus Reports studied the global market for laser atherectomy devices in-depth. Basic market features, important investment sectors, analyses of regional growth, revenue projections, rival market participants, and mergers and acquisitions were all examined.

Table of Content

  1. INTRODUCTION
    1. Market Ecosystem
    2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
    3. Currency Used in the Report
  2. RESEARCH METHODOLOGY 
    1. Research Approach
    2. Data Collection Methodology
    3. Data Sources
      1. Secondary Sources 
      2. Primary Sources
    4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions
  3. PREMIUM INSIGHTS
    1. Current Market Trends (COVID-19 Perspective)
    2. Key Players & Competitive Positioning (2022) 
    3. Regulatory Landscape
  4. MARKET DYNAMICS
    1. Drivers
    2. Restraints/Challenges
    3. Opportunities
  5. GLOBAL LASER ATHERECTOMY DEVICES MARKET- ANALYSIS & FORECAST, BY APPLICATION
    1. Cardiovascular Diseases 
    2. Neurovascular Diseases 
    3. Peripheral Vascular Diseases 
    4. Others
  6. GLOBAL LASER ATHERECTOMY DEVICES MARKET- ANALYSIS & FORECAST, BY END USER
    1. Hospitals & Surgical Centers
    2. Ambulatory Care Centers 
    3. Others 

LASER ATHERECTOMY DEVICES MARKET TOC

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