Dublin, Sept. 06, 2021 (GLOBE NEWSWIRE) -- The "Angioscope Device Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global angioscope device is projected to grow at a CAGR of 5.97% during the forecast period. Angioscope is a flexible endoscopic device that is used to assess and examine the interior of the blood vessel and is highly accurate in identifying and treating blood vessel obstructions. Angioscope is used to assess vascular diseases, thrombus composition, and staging of atherosclerosis.
The advantage of the angioscope is the onsite bypass process for direct visualization of valves and it also provides insight into the treatments that should be given to patients for best outcomes. An increase in the aging population coupled with the rise in prevalence of cardiovascular diseases is rapidly driving the need for angioscope devices globally, which in turn is anticipated to boost the growth of the global angioscope device market during the forecast period. Moreover, the rise in investments in research and development and the consequent innovations are further expected to propel market growth during the forecast period.
The recent outbreak of the novel coronavirus had a negative impact on the global angioscope device market. The pandemic led to the cancellation of surgeries in many parts of the world, as a measure to curb the spread of the disease, which led to a decline in the global angioscope device market in 2020. However, as the restrictions are being eased in most parts of the world, the market is anticipated to recover and continue at its normal pace from the year 2022 onwards.
Rise in innovations and research & development in angioscopy.
One of the major factors anticipated to drive the growth of the global angioscope device market during the forecast period is the research and developments being conducted in angiography and the consequent innovations, which are providing advancements in angioscopy. Cambridge Consultants, a UK firm, and OmniVision, based in California developed a high-definition miniature camera called "Leap", showcased at the Asia Pacific MedTech Forum 2018 in Singapore, for angioscopy which enables the surgeons to have a digital view inside veins and arteries which were not accessible with the previously available imaging techniques.
In February 2017, scientists at the University of Washington and University of Michigan developed an intravascular camera using multiple lasers which have led to the establishment of a new way of imaging atherosclerosis within blood vessels. The technology illuminates the plagues present inside the vessels using red, green, and blue lasers. The device aims to prevent strokes and heart attacks by providing a clear analysis of lesions in vessels. A study was published in the Journal of Cardiology in April 2020, in which non-obstructive general angioscopy was used for observing the aortic intima and for identifying unusual conditions before carrying out thoracic endovascular repair (TEVAR) of chronic type B aortic dissection. The stent-graft position was determined based on angioscopic findings. All the procedures in the study came out to be successful. These innovations are further expanding the scope of angioscopy and are anticipated to propel the growth of the global angioscope device market during the forecast period.
Rise in the prevalence of cardiovascular diseases.
The growing cases of cardiovascular diseases around the world have led to the increased use of angioscopy, which is anticipated to surge the growth of the global angioscope device market during the forecast period. A paper in the Journal of the American College of Cardiology stated in December 2020 that there were 270 million cases of cardiovascular diseases in 1990 which nearly doubled to 523 million in 2019. It also states that the number of people who died from cardiovascular disease increased from 12.1 million in 1990 to 18.6 million in 2019. The American Heart Association (AHA) predicts that 45% of the population of the United States will have at least one heart-related problem. It also estimates that the costs related to cardiovascular diseases will be increased by 100% from 2016 and 2035. According to WHO, cardiovascular disease has the highest share in the list of leading causes of death. The organization states that cardiovascular diseases caused 17.9 million deaths in 2019 around the world, and represent 32% of all deaths worldwide. Premature deaths are also increasing with the growing prevalence of heart diseases with 38% of all the 17 million premature deaths due to non-communicable diseases caused by CVDs in 2019. The increased threat due to CVDs has led to increased demand for angioscope, which is anticipated to propel the growth of the global angioscope device market during the assessment period.
North America to hold a significant market share.
Geographically, the North American region is anticipated to hold a significant market share owing to the high prevalence of cardiovascular diseases, especially in the United States, and the presence of an advanced healthcare system. The Asia Pacific region is anticipated to witness substantial growth due to rising investment in healthcare and the growing number of CVD cases.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Angioscope Device Market Analysis, by Type
5.2. Non Occlusion Angioscope
5.3. Occlusion Angioscope
6. Angioscope Device Market Analysis, by Procedure
7. Angioscope Device Market Analysis, by End-User
7.3. Ambulatory Centers
7.4. Academic & Research Institutes
8. Angioscope Device Market Analysis, by Geography
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. LeMaitre Vascular, Inc.
10.2. Fibertech Co. Ltd
10.3. Olympus Corporation
10.4. B. Braun Melsungen AG
10.5. Karl Storz SE & Co. KG
10.7. Abbott Vascular (Abbott Laboratories)
10.8. Toshiba Medical Systems Corporation
10.9. Royal Philips Electronics
10.10. Cordis Corporation
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