According to the TechSci Research report titled “Peripheral Vascular Devices Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F,” the Global Peripheral Vascular Devices Market is expected to experience impressive growth during the forecast period from 2024 to 2028. This growth can be attributed to several factors, including the increasing incidence of hypertension, obesity, smoking, and alcoholism, as well as the rising prevalence of peripheral vascular diseases worldwide. Additionally, favorable reimbursement scenarios for peripheral vascular procedures play a significant role in driving market growth during the forecast period. The growing number of product approvals and the rising rate of tobacco consumption are also expected to further boost the global peripheral vascular devices market.
Furthermore, the high growth in emerging markets and the increasing incidence of obesity are contributing to the demand for peripheral vascular devices during the forecast period.
However, the high cost of these devices may act as a barrier to adoption for some patients and healthcare systems, potentially slowing down the growth of the global peripheral vascular devices market. Additionally, a lack of awareness about peripheral vascular diseases and available treatment options could limit market growth. Moreover, alternative treatments such as medication and lifestyle changes for some peripheral vascular diseases may also hamper market growth during the forecast period.
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The Global Peripheral Vascular Devices market can be segmented by Type, End User, Region, and Competitive Landscape. Based on the Type, the market includes Peripheral Stents, PTA Balloons, Catheters, Endovascular Aneurysm Repair Stent Grafts, Plaque Modification Devices, Peripheral Accessories, Inferior Vena Cava Filters, and Hemodynamic Flow Alteration Devices. Peripheral Stents dominated the market in 2022 and are expected to maintain their dominance throughout the forecast period. This can be attributed to the increasing number of cardiac disorders and the high prevalence of cardiac diseases among the population. Advancements in technology, increasing product approvals, and key player partnerships and collaborations are also expected to contribute to lucrative growth during the forecast period.
Based on End User, the market can be grouped into Hospitals, Clinics, and Ambulatory Surgical Centers. The Hospitals segment is expected to dominate during the forecast period due to the growing focus on partnership strategies to expand clientele, allowing them to maintain their brand name across the globe.
Major companies operating in the global peripheral vascular devices market are:
- Abbott Laboratories.
- AngioScore Inc.
- Edward Lifesciences Corporation.
- Medtronic Inc.
- Jude Medical.
- Teleflex Medical.
- Volcano Corporation.
- Boston Scientific Corporation.
- Teleflex Medical.
- Cook Group Inc.
- Cordis Corporation
- Covidien
- L. Gore and Associates Ltd
According to Cardio Flow, Inc., a manufacturer of minimally invasive peripheral vascular devices for treating peripheral arterial disease, the FreedomFlow Peripheral Guidewire received approval from the US Food and Drug Administration in June 2022.
In June 2021, AngioDynamics Inc. obtained 510k clearance from the US Food and Drug Administration for its AlphaVac Mechanical Thrombectomy System. This device is an off-circuit, multi-purpose mechanical aspiration thrombectomy system used for non-surgical removal of emboli or thrombi from the vasculature.
Transit Scientific received the CE Mark clearance in the European Union for the XO Score Scoring Sheath Platform in May 2021. This device facilitates dilation of stenotic material in the peripheral vasculature, including infrapopliteal, popliteal, and native or synthetic arteriovenous dialysis fistulae.
In January 2021, Cardiovascular Systems, Inc. was granted the CE Mark for the Diamondback 360 Coronary Orbital Atherectomy System. This system combines differential sanding and pulsatile forces to treat all calcium modalities, including eccentric (irregular), nodular, and concentric (ring-shaped) calcium.
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“North America is expected to dominate in the Global Peripheral Vascular Devices Market on account of rising incidence of cardiovascular diseases and the growing geriatric population, along with the strong presence of industry players in the region. Similarly, growing awareness among people and healthcare industry stakeholders about available technologies, and the high concentration of market players in the United States are expected to create lucrative growth in the market during the forecast period. Also, increasing product launches, partnerships, and acquisitions particularly in the United States are expected to drive the growth of the market during the forecast period. Furthermore, growing urban lifestyle as well as a large population consuming alcohol and tobacco will further create lucrative opportunities for market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Peripheral Vascular Devices Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F
Segmented By Type (Peripheral Stents, PTA Balloons, Catheters, Endovascular Aneurysm Repair Stent Grafts, Plaque Modification Devices, Peripheral Accessories, Inferior Vena Cava Filters, Hemodynamic Flow Alteration Devices), By End User (Hospitals, Clinics, Ambulatory Surgical Centers), By Region and By Competition,” has evaluated the future growth potential of global peripheral vascular devices market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Peripheral Vascular Devices market.
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