Peripheral Vascular Devices Market - Growth, Trends, and Forecasts (2020-2025)

Peripheral arterial disease (PAD) is caused by a narrowing or blocking of the blood vessels due to a plaque build-up. This condition can lead to tissue death, heart stroke, aneurysms, or kidney diseases, if left untreated. According to the National Institute of Health, one in every 20 American, who is over the age of 50, has PAD. It has been affecting 8 to 12 million people in the United States, especially those over 50 years. As the population is growing, the prevalence of the disease is also increasing, which could grow from 9.6 million to reach 19 million overall, globally by 2050. With the aging of the global population, it seems likely that PAD will be increasingly common in the future. Hence, the statistics show that the number of PAD is increasing at a faster pace, which is ultimately driving the market of peripheral arterial disease. Other factors, such as the rising demand for minimally-invasive procedures, especially for peripheral arterial disease, lifestyle changes, increase in aging population, and technological advancements have broadened the range of the peripheral vascular devices.

Key Market Trends

Atherectomy Devices are expected to dominate the overall market

• The market on the basis of device type is segmented into peripheral vascular stents, peripheral transluminal angioplasty (PTA) balloon catheters, peripheral transluminal angioplasty (PTA) guidewires, atherectomy devices, chronic total occlusion (CTO) devices, aortic stents, synthetic surgical grafts, embolic protection devices, and inferior vena cava filters.
• The atherectomy devices segment is expected to dominate the overall market, owing to the increasing prevalence of atherosclerosis, rising obesity, lifestyle related disorders, and hence, the growing adoption. According to the International Journal of Epidemiology, 2019, almost 75% myocardial infarctions occur due to plaque rupture and the incidence is bound to increase in men beyond the age of 45 years. Also, growing burden of cardiovascular diseases leading to higher morbidity and mortality is expected to influence the market positively on the peripheral vascular devices market in atherectomy devices.

North America dominates the peripheral vascular devices market

• North America dominated the peripheral vascular devices market in 2019 and is expected to grow similarly in the future due to factors, such as the rising incidence of cardiovascular diseases, growing geriatric population, and the strong presence of industry players in the region.
• According to the Internaional Jorunal of Epidemiology, 2019, around 610,000 people die due to one or the other heart diseases annually in the United States. Furthermore, approximately 735,000 people in the United States experiences heart attack each year.
• Europe holds the second largest position in the market, which is followed by the APAC region.

Competitive Landscape

The presence of the major market players, such as Abbott, Boston Scientific Corporation, Becton Dickinson and Company, Cook Group, Medtronic, and others is intensifying the market competition. The increasing innovation and rise in investment for various public and private organizations are expected to intensify the industry rivalry across the globe.

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