Luton, Bedfordshire, United Kingdom, Dec. 07, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Peripheral Vascular Devices Market.
The global peripheral vascular devices market is expected to grow at 6% CAGR from 2022 to 2029. It is expected to reach above USD 17.74 billion by 2029 from USD 10.5 billion in 2020.
Peripheral Vascular Devices Market Overview
The peripheral vascular involves damage to or blockage in the blood vessels distant from your heart—the peripheral arteries and veins. When the peripheral vascular disease affects only the arteries and not the veins, it is called peripheral arterial disease. The main forms that peripheral vascular disease may take include blood clots (for example, deep vein thrombosis or DVT), swelling (inflammation), or narrowing and blockage of the blood vessels.
Patients with PAD are at a high risk of having a heart attack. To treat blocked arteries, angioplasty procedures are performed, in which peripheral vascular devices are placed in the arteries after vascular surgery or angioplasty to prevent the artery from closing again, thereby assisting in the maintenance of blood flow by providing structural support to the artery.
Increased emphasis on the prevention and treatment of peripheral arterial disease in low and middle-income economies is expected to drive the growth of the peripheral vascular device market. The rising prevalence of peripheral arterial disease is fueling the demand for and focus on interventional cardiology. As the first line of treatment for patients with long-term cardiovascular diseases, angioplasty is performed.
The increase in the number of cases of peripheral arterial disease contributes to the expansion of the market for peripheral vascular devices.
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Growth Factors
- Diabetes and peripheral vascular disease are becoming more common.
Restraints
- Infection as a result of peripheral vascular implantations
- In institutional settings, the material cost composition of peripheral vascular devices is higher.
- The high cost of implementing these devices
Peripheral Vascular Devices Market Segmentation
By Product
- Peripheral Vascular Stents: Peripheral vascular stents are expected to present high growth at a CAGR of 6.0% by the end of the forecast period.
- Self-Expanding Stents
- Balloon Expanding Stents
- Covered Stents
- Drug-Eluting Stents
- Drug Eluting Balloons
- Peripheral Vascular Bioresorbable Scaffolds
By Indications
- Target Artery Instability (TAI)
- Access Artery Injury (AAI)
- Peripheral Arterial Disease: Peripheral arterial disease holds a revenue share of 30.3% in the global market in 2021
- Arteriovenous Fistulas
- Peripheral Aneurysms
- Others
By Artery
- Carotid Artery
- Fem-Pop Artery
- lliac Artery
- Infrapop Artery
In 2021, the lliac artery will have a global revenue share of around 48.1%. Claudication and/or critical limb ischemia are primarily caused by aortoiliac disease, which has a general population prevalence of up to 10% and a prevalence of up to 20% in people over the age of 70. Aortoiliac occlusive disease is a type of peripheral artery disease.
By End User
- Hospitals
- Ambulatory Surgical Centers/Outpatients
- Cardiac Catheterization Labs
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Hospitals will have a market share of approximately 60.4% in 2021. The rising prevalence of chronic and infectious diseases, as well as the associated increase in surgical procedures, have propelled this segment to the forefront of the peripheral vascular devices market.
Regional Insights
The United States dominates the North American region with a total market share of approximately 94.5% in 2021, and this growth is expected to continue throughout the forecast period.
China holds approximately 56.5% of the East Asia market in 2021 and is expected to grow at an 8.5% CAGR during the forecast period.
During the forecast period, Germany is expected to exhibit a CAGR of nearly 6.0% in the European peripheral vascular devices market. The large geriatric population, advanced medical device technology and research, and a high prevalence of chronic diseases all contribute to market expansion in Germany.
The Latin American Peripheral Vascular Device Market is expected to grow at a 7.93% CAGR from 2021 to 2026. The growing elderly population, which is associated with an increase in the prevalence of peripheral vascular disorders, the approval of new and improved devices, and the rising incidence of diabetes are all driving this industry forward in Latin America.
Competitive Landscape
Companies playing a promising role in the global peripheral vascular devices market profiled in the report are Abbott Laboratories, Boston Scientific Corporation, Cook Medical Inc., MicroPort Scientific Corporation (Endovastec™), Medtronic Plc., Cardinal Health, Inc., B. Braun Melsungen AG, BIOTRONIK SE & Co. KG, Becton, Dickinson and Company, W. L. Gore & Associates Inc., Getinge AB, Terumo Corp, Kyoto Medical Planning Co Ltd, iVascular S.L.U, AMG International GmbH, ENDOCOR GmbH, Meril Life Sciences Pvt. Ltd., Nano Therapeutics Pvt Ltd, Koninklijke Philips N.V., REVA Medical
- April 28, 2022 – Boston Scientific Corporation has received U.S. Food and Drug Administration (FDA) 510(k) clearance for the EMBOLD Fibered Detachable Coil, which is indicated to obstruct or reduce the rate of blood flow in the peripheral vasculature.
- Aug. 18, 2022: BD Launches First-in-Human Trial of Sirolimus Drug-Coated Balloon to Expand Treatment Options for Peripheral Arterial Disease
- September 17, 2022 – Terumo Medical Corporation, a subsidiary of Terumo Corporation, a leading global medical device manufacturer, announces late-breaking data showing the safety and efficacy of radial to Peripheral (R2P) interventions with the R2P Misago Self-Expanding Peripheral Stent in lower extremity endovascular interventions via a radial approach.
- In June 2022, Cardio Flow, Inc., a medical device company and manufacturer of minimally invasive peripheral vascular devices to treat peripheral artery disease (PAD), announced United States Food and Drug Administration (FDA) approval for the company’s FreedomFlow Peripheral Guidewire.
- June 02, 2022, Cardio Flow, Inc., a medical device company and developer of minimally invasive peripheral vascular devices to treat peripheral artery disease (PAD), announced it recently received U.S. Food and Drug Administration (FDA) clearance for the company’s FreedomFlow® Peripheral Guidewire.
Related Reports
- Interventional Radiology Products Market
- Interventional Cardiology Devices Market
- Vascular Access Device Market
- Catheters Market
- Microcatheters Market
FAQS
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