The Global Peripheral Vascular Devices Market was valued at US$ 11.31 billion in 2021 and is predictable to reach US$ 19.93 billion by 2030 which is projected to attain a CAGR of 6.5% during the forecast period from 2021 - 2030.
Peripheral vascular disease is a blood circulation illness in which blood flow via blood arteries outside of the heart and brain is reduced. The improper functioning of organs occurs when these veins do not give enough blood. Blood flow from arteries and veins is measured using peripheral vascular devices. Because of its minimally invasive endovascular therapy, rising prevalence of diseases such as diabetes and obesity, and the growing geriatric population peripheral vascular devices will be in high demand thereby augmenting the demand for the global peripheral vascular devices market during the forecast period.
According to the World Health Organization (WHO), the number of individuals aged 60 and older in the world will double to 2.1 billion by 2050, while the number of people aged 80 and older will treble to 426 million.
Also, the spectrum of peripheral vascular devices has expanded due to increased demand for minimally invasive procedures, particularly for peripheral arterial disease, lifestyle changes, an older population, and technical improvements. In addition, favorable reimbursement scenarios for peripheral vascular procedures, Increased number of product approvals, increased prevalence of diabetes, and rising rate of tobacco consumption are anticipated to boost the market expansion of the global peripheral vascular devices market in the upcoming years.
Anticoagulant therapy is the first line of defense against peripheral vascular disease. The rising efficacy of new-generation anticoagulants, such as Dabigatran, is leading to widespread use of these drugs, which is posing significant barriers to the adoption of peripheral vascular devices. In addition, drugs like statins are increasingly being utilized to treat peripheral vascular disorders. As these drugs become more generally available, they may reduce the need for operations and, as a result, peripheral vascular devices.
The atherectomy devices segment is likely to dominate the global market because of the rising prevalence of atherosclerosis, obesity, and lifestyle-related illnesses.
Reports published by the International Journal of Epidemiology, plaque rupture is responsible for over 75% of myocardial infarctions in 2019, and the rate is expected to rise among males aged 45 and up.
The Global Peripheral Vascular Devices Market is segmented by product and region. By product, it is bifurcated into peripheral transluminal angioplasty (PTA) balloon catheters, atherectomy devices, inferior vena cava filters, peripheral vascular stents, peripheral transluminal angioplasty (PTA) guidewires, embolic protection devices, and other devices. Based on regional insights, the global peripheral vascular devices market is categorized into North America (US, Canada, Mexico, Rest of America), Asia Pacific (India, China, Rest of Asia Pacific), Europe (UK, Germany, Russia, Rest of Europe) and Rest of the world (Latin America and the Middle East & Africa).
North America held the highest proportion of the market for peripheral vascular devices in 2021. The growing elderly population and the high frequency of peripheral vascular disorders are driving this market forward. In addition, medical devices are also extensively available due to the presence of large market participants in the region.
Prominent players inducing the Global Peripheral Vascular Devices Market are Boston Scientific Corporation, Becton Dickinson and Company, Cardinal Health, Merit Medical Systems, Koninklijke Philips N.V., Biosensors International Group Ltd., AMG International GmbH, Medtronic, Abbott, Terumo Corporation, B. Braun Melsungen AG, Penumbra Inc., iVascular S.L.U, BIOTRONIK, and ENDOCOR GmbH among others.
Segmentation and Scope of the Global Peripheral Vascular Devices Market
Global Peripheral Vascular Devices Market is segmented by product and region.
Rest of World
Middle East & Africa
Prominent players in the Global Peripheral Vascular Devices Market among other includes