Number of pages: 100 | Report Format: PDF | Published date: 16 September, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global peripheral vascular devices market was pegged at ~US$ 9.5 billion in 2021 and is expected to witness a CAGR of ~6.3% during the forecast period.
The development of atherosclerotic plaques in the arteries that supply the body's organs, limbs, and head with blood results in peripheral vascular disorders (PVD). Peripheral artery occlusive disease (PAOD), peripheral artery disease (PAD), and peripheral obliterative arteriopathy are additional terms for it. It includes conditions that impact the body's peripheral and heart circulation and involve both peripheral veins and peripheral arteries. IVC filters, angiography catheters, EVAR stent-grafts, hemodynamic flow alteration, and plague modification devices are some of the peripheral vascular devices utilised in peripheral endovascular and coronary procedures as well as for treating peripheral arterial or coronary arterial disease.
The factors driving this market include the rising frequency of target illnesses due to the world's ageing population and the rising demand for minimally invasive endovascular procedures because of their speedier healing times, reduced scarring, and lower risk of infection following surgery. Additionally, the rising incidence of disease-causing lifestyle and eating habits, such as excessive alcohol, tobacco, and cigarette use, is anticipated to increase the need for peripheral vascular devices by increasing the rates of cardiac arrest, blood clotting, and other vascular illnesses.
The global peripheral vascular devices market has been analyzed into three perspectives by type, end user and region.
Peripheral Vascular Devices Market by Type
Based on type, the global peripheral vascular devices market has been segmented into angioplasty balloon & stent, catheters, endovascular aneurysm repair stent grafts, embolic protection devices, plaque modification devices, guidewires, vascular closure devices, and balloon inflation devices. The stents are sub segmented into balloon extendable stent, self-expandable stents, secured stents whereas angioplasty balloons are also sub segmented into ordinary, cutting, scoring, and medication. During the forecast period, the segment for embolic protection devices is anticipated to develop at the maximum CAGR. The primary drivers of this market's expansion include rising investments in the creation of new technologies, an increase in the number of regulatory approvals for these devices, and venture capital funding for the creation of advanced EPDs.
Peripheral Vascular Devices Market by End User
Based on end user, the global peripheral vascular devices market has been segmented into hospitals & clinics, ambulatory care centres, specialty clinics, and others. The hospitals & clinics dominated the segment during forecast period.
Peripheral Vascular Devices Market by Region
Based on region, the global peripheral vascular devices market has been segmented into North America, Europe, Asia Pacific, and Rest of the World. North America accounted for the largest market share for peripheral vascular devices. This market is anticipated to grow as a result of the expanding geriatric population and the prevalence of peripheral vascular disorders. The market is anticipated to grow as a consequence of rising public and private sector investments in the market for peripheral vascular devices, rising consumer awareness of the availability of therapies for a variety of diseases, and increased acceptance of technological advancements. The regulatory environment for the North American market for peripheral vascular devices has also improved due to advancements in less invasive surgery and increased awareness of peripheral vascular diseases. Furthermore, the presence of significant market participants ensures the region's high access to medical equipment.
During the projection period, the Asia Pacific area is anticipated to develop highest CAGR due to the high frequency of people with unmet medical needs, the Asia Pacific region's market for peripheral vascular devices is anticipated to be the most enticing. The industry as a whole is anticipated to benefit from the rapid development of healthcare infrastructure and rising patient disposable income levels in emerging economies like China and India.
Some of the prominent market payers in the global peripheral vascular devices market include Abbott Laboratories
The existence of a small number of enterprises that operate both internationally and regionally has led to a moderate degree of market consolidation in the peripheral vascular devices market.