Peripheral Vascular Stents Segment to Lead Market During 2021–2028
According to our new research study on "Peripheral Vascular Devices Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, and End User," the market is expected to reach US$ 17,679.72 million by 2028 from US$ 11,375.13 million in 2021; it is estimated to grow at a CAGR of 6.5% during 2021–2028. The report highlights trends prevailing in the market and factors driving its growth. The market's growth is attributed to the growing incidence of hypertension, obesity, smoking, and alcoholism and the rising prevalence of peripheral vascular diseases. However, the high cost of peripheral vascular devices hampers the market growth.
Based on product, the peripheral vascular devices market is categorized into peripheral vascular stents, peripheral transluminal angioplasty balloon catheters, PTA guidewires, atherectomy devices, chronic total occlusion devices, aortic stents, synthetic surgical grafts, and embolization guidewires. The peripheral vascular stents segment held the largest share of the market in 2021. Moreover, the peripheral transluminal angioplasty balloon catheters segment is expected to grow at the fastest CAGR of 7.5% from 2021 to 2028, owing to the rise in the use of peripheral transluminal angioplasty balloon catheters for various medical conditions across the globe.
Impact of COVID-19 Pandemic on Peripheral Vascular Devices Market
The COVID-19 pandemic is adversely affecting industries worldwide. The outbreak led to significant disruptions in primary industries such as manufacturing, healthcare, energy & power, electronics & semiconductor, aerospace & defense, and construction in 2020. In the initial days of COVID-19, many sectors were negatively impacted, affecting the total sales of most companies. The companies engaging in the medical devices sector negatively impacted their services in early 2020 due to the temporary shutdown of various manufacturing sectors. However, as lockdown limitations were gradually lifted and COVID-19 vaccination drives started, medical device companies resumed their operations worldwide. Considering above mentioned factors, it can be declared that the impact of COVID-19 on the peripheral vascular devices market has been positive. Therefore, the COVID-19 pandemic is expected to positively impact the peripheral vascular devices market.
Abbott, Edwards Lifesciences Corporation, Medtronic, Teleflex Incorporated, Boston Scientific Corporation, BD, Cook Medical LLC, Terumo Corporation, B. Braun Melsungen AG, and Cardinal Health Inc. are among the leading companies operating in the peripheral vascular devices market.
Peripheral Vascular Devices Market, by Region, 2021 (%)
Peripheral Vascular Devices Market Size & Forecast 2021, 2028
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Peripheral Vascular Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Peripheral Vascular Stents, Peripheral Transluminal Angioplasty Balloon Catheters, PTA Guidewires, Atherectomy Devices, Chronic Total Occlusion Devices, Aortic Stents, Synthetic Surgical Grafts, and Embolization Guidewires) and End User (Hospitals & Clinics, Ambulatory Care Centers, Specialty Clinics, and Others)
Peripheral Vascular Devices Market Size & Forecast 2021, 2028
Download Free SamplePeripheral Vascular Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Peripheral Vascular Stents, Peripheral Transluminal Angioplasty Balloon Catheters, PTA Guidewires, Atherectomy Devices, Chronic Total Occlusion Devices, Aortic Stents, Synthetic Surgical Grafts, and Embolization Guidewires) and End User (Hospitals & Clinics, Ambulatory Care Centers, Specialty Clinics, and Others)
Based on product, the peripheral vascular devices market is categorized into peripheral vascular stents, peripheral transluminal angioplasty balloon catheters, PTA guidewires, atherectomy devices, chronic total occlusion devices, aortic stents, synthetic surgical grafts, and embolization guidewires. Based on end-user, the market is segmented into hospitals and clinics, specialty clinics, ambulatory care centers, and others. By geography, the peripheral vascular devices market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of the Middle East & Africa), and South and Central America (Brazil, Argentina, and the Rest of South and Central America).
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