The critical limb ischemia treatment market studied was projected to grow with a CAGR of nearly 8.3% over the forecast period. The major factor attributing to the growth of the market is the increasing prevalence of critical limb ischemia. The key factors responsible for critical limb ischemia disease are increasing geriatric population, who are more vulnerable to the development of these conditions, and others include diabetes, obesity, sedentary lifestyle, smoking, and increased blood pressure. Untreated critical limb ischemia can lead to amputation of the specific limb. The growing incidence of critical limb ischemia is anticipated to drive the demand for its treatment, which, in line, is projected to propel the growth of the critical limb ischemia treatment market globally. Furthermore, the growing investments in research and development programs by the medical devices and pharmaceutical companies are boosting the market growth. However, drug failure and drug recalls are the major drawbacks for market growth.
Key Market Trends
Medications Segment is expected to Grow at a Faster Rate over the Forecast Period
- The medications segment of the critical limb ischemia treatment market includes antihypertensive agents, antiplatelet drugs, antithrombotic agents, lipid-lowering agents, and others.
- In critical limb ischemia patients who are not flexible for surgical or endovascular revascularization or patients with whom revascularisation attempts have been ineffective, medication is the only way to reduce the pain and treat the patients. Several studies have shown that medication reduced ischaemic rest pain, ulcer size and the need for amputation.
- As the geriatric population increases the patient pool also increases which in turn boosts the market growth.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall critical limb ischemia (CIL) treatment market, throughout the forecast period. The market growth is due to the factors such as the presence of key players, high prevalence of CIL patients in the region, established healthcare infrastructure, and availability of branded drugs are some of the key factors accountable for its large share in the market. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase market growth. The United States holds the largest share of the market. The United States has a unique healthcare system among developed countries. However, the cost of hospitals is very high in the country; the government or private insurance covers it. The rising prevalence of CIL and the increasing geriatric population in the country are the prime factors responsible for the growth of the market in the country.
The critical limb ischemia treatment market is moderately competitive and consists of several major players. Some of the companies which are currently domianting the market are Medtronic plc, Abbott Laboratories, Rexgenero Ltd., LimFlow SA, Cardiovascular Systems, Inc., and ThermoGenesis Holdings, Inc
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1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Increase in prevalence of Critical Limb Ischemia
4.2.2 Improvement in health care infrastructure
4.3 Market Restraints
4.3.1 Drug Failure and Drug Recalls
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
18.104.22.168 Embolic Protection Devices
22.214.171.124 Peripheral Dilatation Systems
126.96.36.199 Antiplatelet Drugs
5.2.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.2.4 Middle East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East and Africa
5.2.5 South America
184.108.40.206 Rest of South America
6.1.1 Medtronic plc
6.1.2 LimFlow SA
6.1.3 Cynata Therapeutics Ltd
6.1.4 Cardiovascular Systems, Inc.
6.1.5 Eli Lilly and Company
6.1.6 Abbott Laboratories
6.1.7 Rexgenero Ltd.
6.1.8 ThermoGenesis Holdings, Inc
6.1.9 Teva Pharmaceuticals
A selection of companies mentioned in this report includes:
- Medtronic plc
- LimFlow SA
- Cynata Therapeutics Ltd
- Cardiovascular Systems, Inc.
- Eli Lilly and Company
- Abbott Laboratories
- Rexgenero Ltd.
- ThermoGenesis Holdings, Inc
- Teva Pharmaceuticals