According to this latest publication from Meticulous Research, the global peripheral vascular devices market is expected to grow at a CAGR of 6.9% from 2021 to reach $12.02 billion by 2028. The increasing prevalence of peripheral vascular diseases, rising incidence of diabetes, and rising demand for minimally invasive treatment procedures majorly drive the peripheral vascular devices market. Additionally, emerging economies is one of the factors expected to offer significant growth opportunities for the players operating in this market. However, product failures and recalls is expected to hinder the growth of this market.
Peripheral Vascular Devices Market: Future Outlook
The global peripheral vascular devices market study presents historical market data in terms of values (2019 and 2020), estimated current data (2021), and forecasts for 2028 by type [angioplasty balloons (old/normal balloons, drug-eluting balloons, cutting & scoring balloons); angioplasty stents (drug-eluting stents, bare-metal stents (balloon-expandable stents, self-expandable stents)); catheters (angiography catheters, guiding catheters, IVUS/OCT catheters); endovascular aneurysm repair stent grafts (abdominal aortic aneurysm stent-grafts, thoracic aortic aneurysm stent grafts); inferior vena cava filters (retrievable filters, permanent filters); plaque modification devices (atherectomy devices, thrombectomy devices); hemodynamic flow alteration devices (embolic protection devices, chronic total occlusion devices); and other devices] and geography. The study also evaluates industry competitors and analyses the market at the regional and country level.
Based on type, the peripheral vascular devices market is segmented into angioplasty stents, angioplasty balloons, catheters, endovascular aneurysm repair stent grafts, inferior vena cava filters, plaque modification devices, hemodynamic flow alteration devices, and other types. In 2021, the angioplasty stents segment is estimated to account for the largest share of the peripheral vascular devices market. Factors driving the growth of this segment include reduced restenosis rate associated with these products and their benefits, such as smaller incisions, faster recovery time, and lower risk of complications.
Based on geography, this research report analyzes and provides comprehensive analysis for North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, and RoAPAC), Latin America, and the Middle East & Africa. In 2021, North America is estimated to dominate the peripheral vascular devices market, followed by Europe and Asia-Pacific. Factors such as the increasing prevalence of peripheral artery diseases, aortic aneurysms, and pulmonary embolisms; increasing number of obese & diabetic population; and the presence of key players are driving the growth of this regional segment.
The key players operating in the peripheral vascular devices market are Abbott Laboratories (U.S.), B. Braun Melsungen AG (Germany), Becton, Dickinson and Company (U.S.), BIOTRONIK SE & Co. KG (Germany), Blue Sail Medical Co., Ltd. (China), Boston Scientific Corporation (U.S.), Cardinal Health, Inc. (U.S.), Cook Group (U.S.), Edwards Lifesciences Corporation (U.S.), iVascular (Spain), Koninklijke Philips N.V. (Netherlands), Medtronic Public Limited Company (Ireland), Nipro Corporation (Japan), TE Connectivity LTD. (Switzerland), and Terumo Corporation (Japan), among others.
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