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)

Publication Month: Jan 2022 | Report Code: TIPRE00002776 | No. of Pages: 189 | Category: Medical Device | Status: Published

The peripheral vascular devices market is projected 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 to 2028.

Vascular devices can be referred to as a medical device, utilized in the case of catheterization post a cardiovascular surgery, for the closure and achieving hemostasis in the artery. The growth of atherosclerotic plaques in arteries that supply blood to organs, limbs, and the head causes peripheral vascular disorders (PVD). Peripheral artery occlusive disease (PAOD), peripheral artery disease (PAD), and peripheral obliterative arteriopathy are all terms used to describe this condition. IVC filters, angiography catheters, EVAR stent grafts, hemodynamic flow alteration, and plague modification devices are among the peripheral vascular devices used to treat peripheral arterial or coronary arterial disease, as well as in peripheral endovascular and coronary procedures. These devices are utilized to reduce patient interference while causing the least amount of disruption during the surgical operation.

Strategic Insights

Report Coverage - Peripheral Vascular Devices Market
Report CoverageDetails
Market Size Value inUS$ 11,375.13 million in 2021
Market Size Value byUS$ 17,679.72 million by 2028
Growth rateCAGR of 6.5% from 2021 to 2028
Forecast Period2021-2028
Base Year2021
No. of Pages189
No. of Tables57
No. of Charts & Figures75
Historical data availableYes
Segments coveredProduct and End User
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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The growth of the peripheral vascular devices market 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.

Lucrative Regions in Peripheral Vascular Devices Market

Lucrative Regions in Peripheral Vascular Devices Market

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Market Insights
Increasing Prevalence of Peripheral Artery Disease and Arterial Embolism

The three most common CVDs worldwide are coronary heart disease, cerebrovascular disease, and peripheral artery disease. Although global cardiovascular disease prevention and control has gained traction in recent decades, efforts have been primarily focused on coronary heart disease and cerebrovascular disease, the world's leading causes of mortality. Despite receiving less attention, peripheral artery disease has emerged as a significant contributor to worldwide deaths and disabilities, with an increasing burden in low-income and middle-income countries (LMICs). A blockage in the blood vessels causes peripheral arterial disease (PAD) or peripheral vascular disease (PVD), which reduces blood flow to the limbs, most commonly the legs. According to the 2017 Global Burden of Disease report, there were 118.1 million prevalent instances of peripheral artery disease and 10.8 million incident cases globally in 2017, with two-thirds of prevalent cases of peripheral artery disease being asymptomatic. Peripheral artery disease caused 515,600 years lived with disability. In 2017, 70,200 persons died from peripheral artery disease, an increase of 55.7% compared to 2007 and an increase of around 10% in age-standardized deaths. Due to pre-existing factors, such as age, hypercoagulability, cardiac abnormalities, and atherosclerotic disease, surgical and intensive care patients are at a higher risk for arterial embolization. These factors are supporting the global peripheral vascular devices market growth substantially.

Product-Based Insights

Based on product, the global peripheral vascular devices market has been segmented 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.  

Peripheral Vascular Devices Market, by Product – 2021 and 2028

Peripheral Vascular Devices Market, by Product – 2021 and 2028

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End-User-Based Insights

Based on end-user, the global peripheral vascular devices market is segmented into hospitals and clinics, specialty clinics, ambulatory care centers, and others. In 2021, the hospitals and clinics segment held the largest share of the market. Moreover, the segment is expected to grow at the fastest CAGR of 6.9% during the forecast period, owing to the rise in the number of peripheral vascular diseases across the globe.

 

Product launches and approvals are commonly adopted strategies by companies to expand their global footprints and product portfolios. Moreover, the peripheral vascular devices market players focus on the partnership strategy to expand their clientele, which, in turn, permits them to maintain their brand name across the world.

Company Profiles

  • Abbott
  • Edwards Lifesciences Corporation
  • Medtronic
  • Teleflex Incorporated
  • Boston Scientific Corporation
  • BD
  • Cook Medical LLC
  • Terumo Corporation
  • B. Braun Melsungen AG
  • Cardinal Health Inc

Frequently Asked Questions

The global peripheral vascular devices market is expected to reach US$ 17,679.72 million in 2028 from US$ 11,375.13 million in 2021. The market is estimated to grow with a CAGR of 6.5% from 2021-2028.
The peripheral vascular devices market based on product is segmented into peripheral vascular stents, peripheral transluminal angioplasty balloon catheters, aortic stents, atherectomy devices, PTA guidewires, synthetic surgical grafts, embolization guidewires, and chronic total occlusion devices. In 2021, the peripheral vascular stents segment accounted for the highest share owing to increasing geriatric population, rising cases of hypertension resulting rapidly growing number of surgeries and rising demand for technologically advanced products in developed and developing economies including the US, Germany, U.K., France, Japan, and others. However, the peripheral transluminal angioplasty balloon catheters segment is expected to grow at a CAGR of 7.5% in the forecast period due to rise in demand of minimally invasive surgery
The growth of the market is attributed to the rising incidence of atherosclerosis, smoking, alcoholism, and obesity, coupled with the increasing prevalence of peripheral artery disease and arterial embolism drives the market growth. However, the high costs and complications associated with embolization procedures hampers the market growth.
The disposable pipettes tips market majorly consists of players like Abbott, Edwards Lifesciences Corporation, Medtronic, Teleflex Incorporated, Boston Scientific Corporation, BD, Cook Medical LLC, Terumo Corporation, B. Braun Melsungen AG, and Cardinal Health Inc. among others.
In 2021, Asia Pacific registered as the fastest-growing region in the global peripheral vascular devices market. The market is this region is expected to grow significantly in countries such as China, Japan, and India. The market is driven by growing investments from international players in China and India, improving government support specifically concentrating drug use awareness, increased testing due to drug overuse. Therefore, the region holds huge potential for the peripheral vascular devices market players to grow during the forecast period.

The List of Companies - Peripheral Vascular Devices Market

  1. Abbott
  2. Edwards Lifesciences Corporation
  3. Medtronic
  4. Teleflex Incorporated
  5. Boston Scientific Corporation
  6. BD
  7. Cook Medical LLC            
  8. Terumo Corporation       
  9. B. Braun Melsungen AG 
  10. Cardinal Health Inc          
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the peripheral vascular devices market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the peripheral vascular devices market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
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