Cardiovascular Medical Lasers Global Market Report 2024

“Cardiovascular Medical Lasers Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on cardiovascular medical lasers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
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• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for cardiovascular medical lasers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The cardiovascular medical lasers market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Excimer Laser; Carbon Dioxide Laser
• 2) By Application: Laser Vascular Anastomosis; Transmyocardial Laser Revascularization; Laser Angioplasty For Peripheral Arterial Diseases
• 3) By End Use: Hospitals; Specialty Clinics; Ambulatory Surgery Centers
• Companies Mentioned: Boston Scientific Corporation; Cardiovascular Systems Inc.; AngioDynamics Inc.; Koninklijke Philips N.V.; RA Medical Systems Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Cardiovascular medical lasers play a crucial role in treating heart-related medical conditions, particularly during transmyocardial laser revascularization procedures.

The market for cardiovascular medical lasers, as detailed in this report, is divided into excimer lasers and carbon dioxide lasers. Carbon dioxide lasers are instrumental in precisely removing thin skin layers with minimal impact on surrounding tissues. These lasers find applications in various procedures, including laser vascular anastomosis, transmyocardial laser revascularization, and laser angioplasty for peripheral arterial diseases. They are employed by end users like hospitals, specialized clinics, and ambulatory surgery centers.

The cardiovascular medical lasers market research report is one of a series of new reports from The Business Research Company that provides cardiovascular medical lasers market statistics, including cardiovascular medical lasers industry global market size, regional shares, competitors with a cardiovascular medical lasers market share, detailed cardiovascular medical lasers market segments, market trends and opportunities, and any further data you may need to thrive in the cardiovascular medical lasers industry. The cardiovascular medical lasers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cardiovascular medical lasers market size has grown exponentially in recent years. It will grow from $0.21 billion in 2023 to $0.31 billion in 2024 at a compound annual growth rate (CAGR) of 46.4%. The growth experienced during the historic period can be primarily attributed to several key factors. These include an increasing demand for minimally invasive cardiovascular procedures, the growing prevalence of cardiovascular diseases, rising disposable incomes among the population, and the widespread adoption of telemedicine in the field of cardiology. These factors collectively contributed to the expansion of the cardiovascular medical laser market.

The cardiovascular medical lasers market size is expected to see exponential growth in the next few years. It will grow to $1.25 billion in 2028 at a compound annual growth rate (CAGR) of 41.5%. The anticipated growth in the upcoming forecast period can be associated with several key aspects. These include the implementation of advanced robotics, ongoing cardiovascular research, an aging population, the development of personalized cardiovascular care, and the expansion of interventional cardiology. Major trends expected during this forecast period encompass advanced laser fiber technology, AI-powered telehealth applications, smart laser systems, laser-induced regeneration, sustainable laser technologies, and the integration of advanced imaging methods. These trends are poised to drive the growth of the cardiovascular medical laser market.

The anticipated growth in the cardiovascular medical laser market is attributed to the expanding prevalence of cardiovascular diseases, which can be linked to factors like increased smoking rates, sedentary lifestyles, and poor dietary habits. As reported by the Centers for Disease Control and Prevention in May 2023, coronary artery disease (CAD) led to the demise of 375,476 individuals in 2021, affecting approximately 1 in 20 adults aged 20 and above. Furthermore, nearly 2 in 10 CAD-related deaths occurred among individuals younger than 65 years old. This rising prevalence of cardiovascular diseases is poised to be a significant driver behind the growth of the cardiovascular medical laser market.

The anticipated growth in the cardiovascular medical lasers market is primarily driven by the increasing occurrences of diabetes and obesity. These medical conditions lead to higher levels of blood glucose and a higher body mass index. Cardiovascular medical lasers are essential tools in treating the vascular complications associated with both diabetes and obesity, particularly in procedures such as angioplasty and atherectomy. They're also utilized in obesity management surgeries and for treating diabetic retinopathy. As reported by the International Diabetes Federation in June 2022, the global diabetes prevalence stands at 10.5%, with approximately 44.7% of affected individuals remaining undiagnosed. Predictions suggest a steep increase in the diabetic population to 783 million by 2045, a 46% surge over the current figures. Moreover, the World Health Organization indicated in March 2022 that obesity affects a considerable number of people-650 million adults, 340 million teenagers, and 39 million children, with the prevalence continuing to rise. By 2025, an estimated 167 million more individuals will likely fall into the overweight or obese category. As a result, the growing occurrences of diabetes and obesity are pivotal drivers behind the expansion of the cardiovascular medical lasers market.

The rising popularity of alternative treatments for cardiovascular conditions on a global scale is forecasted to adversely impact the revenues of the cardiovascular medical laser market. Conventional medical procedures like coronary angioplasty, stent implantation, thrombolytic therapy, coronary artery bypass graft surgery (CABG), artificial pacemaker surgery, defibrillation, and heart valve surgery are more commonly preferred for treating heart ailments compared to laser-based treatments. For instance, as reported by iData Research, approximately 340,000 CABG procedures are conducted yearly in the United States. This inclination toward traditional treatments is expected to persist throughout the forecast period, thereby constraining the demand for cardiovascular medical lasers.

Manufacturers in the cardiovascular medical laser industry continue to invest in cutting-edge technologies aimed at expedited diagnosis and effective treatment of heart conditions. Technological enhancements encompass a range of developments such as new wavelengths, more robust setups, cost-effective systems, and other innovations integrated with minimally invasive procedures. Ra Medical obtained FDA clearance for its vascular products, inclusive of cardiovascular lasers specifically designed for treating peripheral arteries and veins. The lasers function at a 308-nanometer wavelength, breaking down chemical bonds and disintegrating blockages, ultimately reducing patient risk.

Key players in the cardiovascular medical lasers industry are intensifying their efforts to introduce non-invasive technologies, positioning themselves competitively in the market. Non-invasive technologies encompass diagnostic methods that don't require skin penetration or surgical instruments for internal examination. For instance, in February 2021, Nirtek, an Australian medical technology company, unveiled a novel laser technology focused on preempting heart attacks. This technology utilizes near-infrared laser light to detect hazardous plaques in arteries, enabling proactive treatment before the onset of a heart attack. The innovative technology is non-invasive, capable of identifying vulnerable plaques in both carotid and coronary arteries, providing critical insights to avert potential cardiovascular issues.

In October 2021, Laser MD Medspa, a US-based provider of medical spa services, completed the acquisition of Young Medical Spa for an undisclosed sum. This strategic move serves to extend the company's presence in Pennsylvania, incorporating an additional four locations. Young Medical, another US-based company, specializes in a comprehensive range of cosmetic and aesthetic solutions, including services like laser hair removal and botox treatments.

Major companies operating in the cardiovascular medical lasers market include Boston Scientific Corporation, Cardiovascular Systems Inc., AngioDynamics Inc., Koninklijke Philips N.V., RA Medical Systems Inc., Abbott Laboratories Inc., Alma Lasers Inc., B. Braun Melsungen AG, Bausch + Lomb Incorporated, Biolase Inc., Candela Medical Corporation, Cutera Inc., DEKA Research & Development Corporation, Edwards Lifesciences Corporation, EUFOTON S.P.A., Fotona d.d., Gigaa Laser Group, IRIDEX Corporation, Lumenis Ltd., Medtronic Inc., Novartis AG, PhotoMedex Inc., Quanta System S.p.A, Sciton Inc., Stryker Corporation, Terumo Corporation, TransEnterix Inc., Vascular Solutions Inc., Zimmer Biomet Holdings Inc.

North America was the largest region in the cardiovascular medical lasers market in 2023. Asia-Pacific was the second-largest region in the global cardiovascular medical lasers market report. The regions covered in the cardiovascular medical lasers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the cardiovascular medical lasers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The cardiovascular medical lasers market consists of sales of instruments such as excimer lasers and carbon dioxide lasers. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.