Publication Month: Jan 2022 | Report Code: TIPRE00002776 | No. of Pages: 189 | Category: Medical Device | Status: Published
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.
|Market Size Value in||US$ 11,375.13 million in 2021|
|Market Size Value by||US$ 17,679.72 million by 2028|
|Growth rate||CAGR of 6.5% from 2021 to 2028|
|No. of Pages||189|
|No. of Tables||57|
|No. of Charts & Figures||75|
|Historical data available||Yes|
|Segments covered||Product and End User|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
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.
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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.
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.
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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.