Peripheral Vascular Devices Market Size & Share, By Type (Peripheral Stents, PTA Balloons, Catheters, Endovascular Aneurysm Repair Stent Grafts, Plaque Modification Devices), Regional Forecast, Industry Players, Growth Statistics Report 2023-2030

Market Outlook:

Peripheral Vascular Devices Market size surpassed USD 6.17 Billion in 2022 and is poised to reach USD 12.72 Billion, growing at over 8.51% CAGR between 2023 and 2030. The market is driven by various factors such as the increasing prevalence of peripheral artery diseases (PAD) and the rising aging population. The growing incidence of lifestyle-related diseases such as obesity and diabetes also contributes to the market's positive outlook.

• Base Year Value (2022): USD 6.17 Billion
• CAGR (2023-2030): 8.5%
• Forecast Year Value (2030): USD 12.72 Billion
• Historical Data Period: 2018-2021
• Largest Region: North America
• Forecast Period: 2023-2030

Market Dynamics:

Growth Drivers & Opportunities:

1. Rising Prevalence of Peripheral Artery Diseases (PAD): The increasing incidence of PAD, which affects the blood vessels outside the heart and brain, drives the demand for peripheral vascular devices. This, in turn, boosts market growth as these devices aid in maintaining proper blood circulation.

2. Growing Aging Population: With the global population aging rapidly, the prevalence of age-related diseases, including vascular disorders, is on the rise. The geriatric population requires advanced peripheral vascular devices to manage various vascular conditions, thereby fueling market growth.

3. Technological Advancements: The continuous development of technologically advanced peripheral vascular devices, such as stents and angioplasty balloons, enhances treatment outcomes and patient experiences. The integration of innovative features like drug-eluting capabilities and real-time monitoring systems creates new opportunities for market expansion.

 

Industry Restraints & Challenges:

Report Scope

Report Coverage	Details
Segments Covered	Type, Region
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Abbott Laboratories, Angioscore, Edward Lifesciences, Medtronic, St. Jude Medical, Teleflex Medical, Volcano, Boston Scientific, Teleflex Medical, Cook Group, Cordis, Covidien, W.L.Gore and Associates., and Angioscore.

1. High Costs: The cost of peripheral vascular devices, including stents and grafts, can be relatively high, posing a challenge for individuals with limited financial resources. These high costs may impede the adoption of these devices, especially in developing regions with constrained healthcare budgets.

2. Stringent Regulatory Guidelines: The stringent regulatory framework for medical devices may delay the approval and commercialization of peripheral vascular devices. Compliance with complex regulations becomes a challenge for market players, thus affecting their market growth potential.

3. Limited Awareness and Access: In certain regions, there is a lack of awareness about peripheral vascular diseases and the available treatment options. Additionally, limited accessibility to advanced healthcare facilities in remote areas can pose challenges in diagnosing and treating peripheral vascular conditions.

In conclusion, the peripheral vascular devices market is expected to witness significant growth due to various factors. The rising prevalence of peripheral artery diseases, a growing aging population, and continuous technological advancements are contributing to the market's promising outlook. However, challenges such as high costs, stringent regulations, and limited awareness and access may impact market growth to some extent.

Regional Forecast:

The global peripheral vascular devices market is projected to experience significant growth in the forecast period across various regions including North America, Asia Pacific, and Europe.

North America

North America is anticipated to dominate the market owing to the increasing prevalence of peripheral arterial disease (PAD) in the population. The rising adoption of minimally invasive procedures, the presence of advanced healthcare infrastructure, and favorable reimbursement policies are further contributing to the market growth in this region.

Asia Pacific

Asia Pacific is expected to witness substantial growth due to the growing geriatric population, rising prevalence of lifestyle diseases such as diabetes and hypertension, and increasing healthcare expenditure. Moreover, the improving healthcare infrastructure in countries like China and India and the rising awareness regarding various treatment options are driving the market growth in this region.

Europe

Europe is also anticipated to witness significant growth due to the increasing incidence of cardiovascular diseases and the growing elderly population. Additionally, favorable government initiatives and advancements in medical technology are further propelling the market growth in this region.

Segmentation Analysis:

1. Sub-Segment: Angioplasty Balloons

Angioplasty balloons, a sub-segment of the peripheral vascular devices market, are extensively used to treat blocked or narrowed blood vessels. These balloons are inserted into the affected area and inflated to widen the artery and improve blood flow. They are widely used in the treatment of peripheral arterial disease (PAD) and are available in different sizes to accommodate various vessel diameters. The increasing prevalence of PAD and the rising demand for minimally invasive procedures are driving the adoption of angioplasty balloons in the market.

Competitive Landscape:

The peripheral vascular devices market is highly competitive with numerous players operating globally. Some of the key market players include:

1. Medtronic plc

2. Abbott Laboratories

3. Boston Scientific Corporation

4. Cordis Corporation (A Cardinal Health Company)

5. Cook Medical

6. Terumo Corporation

7. B. Braun Melsungen AG

8. C.R. Bard, Inc.

9. AngioDynamics, Inc.

10. Spectranetics Corporation

These companies are continuously investing in research and development activities to launch innovative products and gain a competitive edge in the market. They also engage in strategic collaborations, mergers, and acquisitions to expand their market presence and increase their customer base.