Peripheral Vascular Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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 Americans, who are of age 50 years or above, has PAD. It has been affecting 8-12 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 may grow from 9.6 million to reach 19 million overall, globally, by 2050. With the aging global population, it is likely that PAD may 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 for 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, and lifestyle-related disorders. According to the International Journal of Epidemiology, 2019, almost 75% of myocardial infarctions occur due to plaque rupture, and the incidence is bound to increase in men of age 45 years or above.
• Additionally, the 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 it is expected to grow similarly in the future due to factors, like the rising incidence of cardiovascular diseases, growing geriatric population, and the strong presence of industry players in the region.
• According to the International Journal of Epidemiology, in 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 experience heart attacks, annually.
• Europe holds the second-largest position in the market studied, which is followed by the APAC region.

Competitive Landscape

The presence of the major market players, such as Abbott Laboratories, Boston Scientific Corporation, Becton, Dickinson and Company, Cook Group, and Medtronic PLC, 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 world.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

This product will be delivered within 2 business days.