Peripheral Arterial Disease Global Market Report 2024

The global peripheral arterial disease market has grown strongly in recent years. It will grow from $4 billion in 2023 to $4.36 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to innovative medical devices, gene therapy and regenerative medicine, pharmacogenomics, digital health and remote monitoring.

The global peripheral arterial disease market is expected to see strong growth in the next few years. It will grow to $6.05 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to interdisciplinary care teams, minimally invasive interventions, lifestyle and exercise prescriptions. Major trends in the forecast period include vascular tele-rehabilitation, multimodal pain management, wound care advances, public health campaigns.

The increasing incidence of cardiac diseases is expected to be a significant driver for the growth of the peripheral arterial disease market in the coming years. Cardiac disease, a common heart condition, affects the main blood vessels supplying blood to the heart muscle. Peripheral arterial disease treatment plays a crucial role in aiding cardiac patients by improving blood flow, reducing cardiovascular risks, alleviating symptoms, and ultimately enhancing their overall quality of life. For instance, in June 2023, the Center for Disease Control and Prevention, a US-based government agency, reported that the number of deaths attributed to cardiovascular diseases had reached 695,547 in 2021. Additionally, as of April 2022, the American College of Cardiology, a US-based non-profit medical association, predicted a 30.7% increase in the risk factors for ischemic heart disease, with an estimated 29 million cases by 2025. Therefore, the growing prevalence of cardiac diseases acts as a significant driving force for the peripheral arterial disease market.

The increasing prevalence of diabetes is poised to be a significant driver for the growth of the peripheral arterial disease market in the foreseeable future. Diabetes, a chronic metabolic condition characterized by elevated blood glucose levels, is on the rise globally. With the growing prevalence of diabetes, there is a parallel surge in the demand for treatments addressing this condition. This surge is particularly notable in relation to peripheral arterial disease (PAD). Individuals with diabetes face an elevated risk of developing atherosclerosis, which is the primary cause of PAD and necessitates treatment. For instance, as of July 2021, the International Diabetes Federation (IDF), a Belgium-based diabetes organization, projected that the global population with diabetes would reach 537 million in 2021, 643 million in 2030, and 783 million in 2045. Additionally, it was estimated that 541 million people would experience impaired glucose tolerance by 2021. Furthermore, it was anticipated that nearly 6.7 million individuals between the ages of 20 and 79 would succumb to complications related to diabetes in 2021. Therefore, the escalating prevalence of diabetes stands as a significant driving force for the growth of the peripheral arterial disease market.

The insufficiency of healthcare infrastructure is anticipated to impede the growth of the peripheral arterial disease market. A dearth of accessible healthcare services can pose significant challenges for patients in obtaining the necessary drugs and treatments, especially in developing economies where resources and infrastructure may be limited. For instance, as of June 2023, the National Rural Health Alliance, a non-profit organization based in Australia, reported that over 7 million individuals, which constitutes over a third of Australia's population, bear a disproportionate burden of illness and premature mortality, partly due to inadequate healthcare spending. This indicates a significant gap in healthcare infrastructure. Therefore, the deficiency in healthcare infrastructure stands as a substantial constraint on the growth of the peripheral arterial disease market.

Prominent companies in the peripheral arterial disease market are dedicated to the development of cutting-edge drugs and solutions to maintain their competitive edge. This emphasis on drug innovation holds the potential to yield more effective treatments for PAD, ultimately reducing the risk of complications and enhancing patient outcomes. For instance, in August 2021, The Janssen Pharmaceutical Companies, a Belgium-based pharmaceutical firm, obtained an expanded indication for peripheral artery disease (PAD) for the XARELTO (rivaroxaban) dose from the Food and Drug Administration (FDA), a US-based government agency. Notably, XARELTO stands as the first and only therapy approved for both coronary artery disease (CAD) and PAD, including PAD patients post-LER (lower extremity revascularization). This medication is also recommended for patients dealing with acute limb ischemia and amputation, ischemic stroke, and myocardial infarction.

In February 2023, Abbott Laboratories, a prominent US-based pharmaceutical company, successfully completed its acquisition of Cardiovascular Systems Inc. for a total of $890 million. Through this strategic acquisition, Abbott intends to fortify its cardiovascular portfolio by integrating new and complementary technologies. Cardiovascular Systems Inc., based in the US, is a leading medical device company specializing in the development and commercialization of products tailored for the treatment of peripheral and coronary vascular disease.

Major players in the peripheral arterial disease market are Cardinal Health Inc., Johnson and Johnson Limited, Abbott Laboratories, Medtronic PLC, Becton Dickinson and Company, Koninklijke Philips N.V., Boston Scientific Corporation, B. Braun SE, Terumo Corp., Cook Medical LLC, Penumbra Inc., Shockwave Medical Inc., AngioDynamics Inc., Cardiovascular Systems Inc., ACIST Medical Systems Inc., SurModics Inc., Endologix Inc., BioVentrix Inc., QT Vascular Ltd., Avinger Inc., Mercator MedSystems Inc., VentureMed Group Ltd., Eximo Medical Ltd., LimFlow SA, Contego Medical LLC.

North America was the largest region in the peripheral artery disease market in 2023. The regions covered in peripheral artery disease report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the peripheral artery disease market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary treatment modalities for Peripheral Arterial Disease encompass devices, catheters, drugs, and other interventions. Devices for PAD pertain to specialized medical tools employed in the diagnosis, treatment, and management of the condition. These treatments can be administered through various routes, including oral, parenteral, and others. They find application across a spectrum of end-users, such as hospitals, specialty clinics, and other healthcare facilities.

This report provides peripheral artery disease market statistics, including peripheral artery disease industry global market size, regional shares, competitors with a peripheral artery disease market share, detailed peripheral artery disease market segments, market trends and opportunities and any further data you may need to thrive in the peripheral artery disease industry. This peripheral artery disease 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 peripheral artery disease market consists of sales of cardiac medical devices and diagnostic tools. 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.


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