Peripheral Vascular Devices Market – Global Industry Analysis And Forecast(2022-2029)

Peripheral Vascular Devices Market was valued at USD 10.3 Billion in 2021, and it is expected to reach USD 15.69 Billion by 2029, exhibiting a CAGR of 5.4% during the forecast period (2022-2029)
Peripheral Vascular Devices Market Overview
The Global Peripheral Vascular Devices Market is segmented by product type. Based on product type, the market is segmented into Angioplasty Balloons (Old/Normal, Cutting and Scoring, and Drug-Eluting), Angioplasty Stents (Drug-eluting, Bare metal, Self-expandable, and Balloon-expandable), Catheters (Angiography, IVUS/OCT, and Guiding), Endovascular Aneurysm Repair Stent Grafts (Abdominal Aortic Aneurysm Stent Grafts and Thoracic Aortic Aneurysm Stent Grafts), Inferior Vena Cava Filters (Retrievable and Permanent), Plaque Modification Devices (Atherectomy and Thrombectomy), Hemodynamic Flow Alteration Device Market (Embolic Protection Devices and Chronic Total Occlusion Devices), Other Peripheral Vascular Devices (Guidewires, Vascular Closure Devices, Introducer Sheaths, and Balloon Information Devices). Based on region, the market is segmented into North America, Asia Pacific, Europe, Middle East & Africa, and South America.

 



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The rapid increase in the geriatric population and the subsequent rise in the prevalence of peripheral vascular diseases, the favourable reimbursement environment for peripheral vascular procedures, the rise in the number of product approvals, the prevalence of diabetes, and the rising rate of tobacco use are the main drivers of this market's growth.

The COVID-19 outbreak has had an effect on the market for peripheral vascular devices as well as other areas of the medical device sector globally. Despite emergency and outpatient department (OPD) services being offered in hospitals, the number of patient visits has decreased dramatically over the past several months. Surgeons use a number of clinical tests to determine the best course of action for patients before beginning any interventional surgery. However, the number of patients visiting hospitals has dramatically decreased as a result of the lockdown in several nations. The quantity of diagnostic testing has decreased as a result. Sales of peripheral vascular devices have decreased as a result.

The majority of nations globally have delayed elective surgery in an effort to stop the spread of COVID-19. Many of these operations have been delayed because 70–80 percent of peripheral vascular interventional procedures are elective. This is another element impeding the market for peripheral vascular devices from expanding.
Peripheral Vascular Devices Market Dynamics
High growth rate in emerging markets: Due to poor regulatory standards and little competition, emerging countries like China, India, Singapore, and Brazil are expected to have rapid expansion in the years to come. Manufacturers are deliberately focused on increasing their presence in these nations in order to take advantage of the high-growth potential in these markets. Manufacturers are further compelled to concentrate on new markets by the escalating competition in existing markets. The Asia Pacific regional headquarters of Medtronic (Ireland) were established in Singapore in 2016. The company's activities in 80 sites around the Asia Pacific area will be supported and strengthened by this development. Additionally, the Indian government gave iVascular SLU permission to commercialise its goods there in 2017.

Significant increase in peripheral vascular devices in elderly population: One of the main reasons influencing the demand for peripheral vascular devices is the significant increase in the elderly population, as this age group is more susceptible to peripheral vascular disorders such atherosclerosis and aneurysms. The Globe Health Organization (WHO) predicts that the number of individuals in the world who are 60 or older will double to 2.1 billion by 2050 and that the population of people who are 80 or older will treble to 426 million. Age, genetics, and lifestyle choices can result in the accumulation of plaque in the arteries. Peripheral vascular disorders are expected to affect more than 200 million individuals worldwide (National Center for Biotechnology Information (NCBI), 2021). Peripheral arterial disease (PAD) affects 8.5 million people in the US, and its prevalence grows with ageing and is more than 20% in the patient population over the age of 80, according to the American College of Cardiology 2020.



The primary line of therapy for peripheral vascular disorders is anticoagulant medication. With new-generation anticoagulants like Dabigatran becoming more and more effective, there are significant barriers to the wide use of peripheral vascular devices. Additionally, the usage of drugs like statins in the treatment of peripheral vascular disorders is rising. As these medications are used more often, fewer operations may be required, which would lessen the requirement for peripheral vascular devices. Additionally, medications such antiplatelet medicines, vasodilators, cholesterol-lowering medications, angiotensin-converting enzyme inhibitors, or angiotensin-receptor blockers can be used to treat PAD.
Peripheral Vascular Devices Market Segment Analysis
The inferior vena cava filters, angioplasty balloons, angioplasty stents, catheters, plaque modification devices, hemodynamic flow alteration devices, and other peripheral vascular devices are the different product categories in the peripheral vascular devices industry. The most typical application of stents is to treat coronary artery issues. Peripheral stents are more frequently used in conjunction with balloon angioplasty to unclog an aneurysm as well as to unblock veins so that blood may flow through the body's obstructed veins. The bulk of the market for peripheral vascular devices is dominated by stents and balloons. A catheter is introduced into veins in the groyne, wrist, or arm area during peripheral transluminal angioplasty, commonly known as angioplasty, to assist prevent blood clotting in those locations. A minimally invasive surgical procedure called an atherectomy is done to remove atherosclerosis from major arteries.

During the forecast period, the segment for Embolic Protection Devices is expected to expand at the greatest 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 sophisticated EPDs. Due to the growing elderly population, rising cases of hypertension leading to an increase in surgeries, and rising demand for technologically advanced products in both developed and developing economies, such as the US, Germany, the UK, France, and Japan, the peripheral vascular stents segment had the largest share in 2021. However, due to the growth in demand for minimally invasive operations, the peripheral transluminal angioplasty balloon catheters market is expected to expand at a CAGR of 7.5% over the forecast period. The market for peripheral vascular devices was dominated by abdominal aortic aneurysm stent grafts in 2021. The main factors driving this market are the increased prevalence of hypertension and the ageing population.


Peripheral Vascular Devices Market Regional Insights
North America held the greatest market share for peripheral vascular devices in 2021. Due to the rising elderly population and the increasing frequency of peripheral vascular disorders, this market is expected to increase. The market is expected to expand as a result of expanding consumer knowledge of the availability of treatments for various ailments, rising acceptance of technical improvements, and rising public and private sector investments in the market for peripheral vascular devices. Furthermore, because to developments in minimally invasive surgery and raised awareness of peripheral vascular illnesses, the regulatory environment for the North American market for peripheral vascular devices has improved. Additionally, the region's high access to medical equipment is ensured by the existence of major market participants.

On the other hand, Asia Pacific region is estimated to grow at a CAGR of 7.5% during the forecast period. The market for peripheral vascular devices in Asia Pacific region is expected to be the most alluring due to the high prevalence of individuals with unmet medical requirements. The industry as a whole is expected to benefit from the quick development of healthcare infrastructure and rising patient disposable income levels in emerging economies like China and India.
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Global Peripheral Vascular Devices Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US 10.3 Bn.


Forecast Period 2022 to 2029 CAGR:
5.4 %
Market Size in 2029:
US 15.69 Bn.


 Segments Covered:
by Product Type
• Angioplasty Balloons
o Old/Normal
o Cutting and Scoring
o Drug-Eluting
• Angioplasty Stents
o Drug-eluting
o Bare metal
 Self-expandable
 Balloon-expandable
• Catheters
o Angiography
o IVUS/OCT
o Guiding
• Endovascular Aneurysm Repair Stent Grafts
o Abdominal Aortic Aneurysm Stent Grafts
o Thoracic Aortic Aneurysm Stent Grafts
• Inferior Vena Cava Filters
o Retrievable
o Permanent
• Plaque Modification Devices
o Atherectomy
o Thrombectomy
• Hemodynamic Flow Alteration Device Market
o Embolic Protection Devices
o Chronic Total Occlusion Devices
• Other Peripheral Vascular Devices
o Guidewires
o Vascular Closure Devices
o Introducer Sheaths
o Balloon Information Devices



Peripheral Vascular Devices Market by Region:
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• South America
Peripheral Vascular Devices Market Key Players
• Edwards Lifesciences Corporation
• Abbott Laboratories
• Medtronic Inc.
• Cardinal Health Inc
• Teleflex Incorporated
• Cook Medical LLC
• Terumo Corporation
• Boston Scientific Corporation
• B. Braun Melsungen AG
• BD
• Angioscore Inc.
• St. Jude Medical
• Teleflex Medical
• Volcano Corporation
• Cook Group Inc.
• Cordis Corporation
• Covidien
• C.R.Bard
• Endologix
• B Braun Inc.
• W.L.Gore and Associates Ltd.

Frequently Asked Questions:

1] What segments are covered in the Global Peripheral Vascular Devices Market report?
Ans. The segments covered in the Peripheral Vascular Devices Market report are based on product type.

2] Which region is expected to hold the highest share in the Global Peripheral Vascular Devices Market?
Ans. The North America region is expected to hold the highest share in the Peripheral Vascular Devices Market.

3] What is the market size of the Global Peripheral Vascular Devices Market by 2029?
Ans. The market size of the Peripheral Vascular Devices Market by 2029 is expected to reach USD 15.69 Bn.

4] What is the forecast period for the Global Peripheral Vascular Devices Market?
Ans. The forecast period for the Peripheral Vascular Devices Market is 2021-2029.

5] What was the market size of the Global Peripheral Vascular Devices Market in 2021?
Ans. The market size of the Peripheral Vascular Devices Market in 2021 was valued at USD 10.3 Bn.