Peripheral Artery Disease Market by Type (Peripheral Angioplasty Balloons, Peripheral Stents, Peripheral Catheters, Inferior Vena Cava (IVC) Filters, Plaque Modification Devices, Hemodynamic Flow Alteration Devices, and Peripheral Accessories): Global Opportunity Analysis and Industry Forecast, 2020–2027
The global peripheral artery disease market accounted for $3,524.77 million in 2019, and is expected to reach $5,715.12 million by 2027, registering a CAGR of 8.5% from 2020 to 2027.
Peripheral artery disease (PAD) is a disease of blood vessels located outside the brain and heart. PAD occurs when plaque builds up in arteries that carry blood to the head, organs, and limbs. Plaque is made of fat, cholesterol, calcium, fibrous tissue, and other substances. PAD usually affects arteries in the legs, but it can also affect arteries that carry blood from heart to head, arms, kidneys, and stomach.
Factors such as rapid growth in geriatric population and subsequent increase in prevalence of peripheral artery diseases, along with increase in product approvals drive growth of the peripheral artery disease market. However, product recalls and hamper the market growth. Furthermore, increase in incidences of population suffering from diabetes and high blood pressure, which poses a high-risk factor for peripheral artery disease drives the market growth. In addition, favorable reimbursement scenario for peripheral artery disease treatment and introduction of advanced treatment products such as drug-eluting stents boost the market growth. However, issue of restenosis (reoccurrence of peripheral artery disease even after treatment) impedes the market growth.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the largest market share in 2019, and is expected to retain its dominance throughout the forecast period. This is attributed to factors such as well-equipped & better financed hospitals & clinics, high adoption rate of peripheral artery disease products, and sophisticated healthcare infrastructure. Moreover, the U.S. is the target area for top players in the market, owing to high awareness regarding PAD devices. However, Asia-Pacific and LAMEA are expected to emerge as a lucrative areas with maximum growth potential, owing to improvement in healthcare facilities, available disposable income, and rapidly developing economic conditions.
The global peripheral artery disease market is segmented on the basis of type and region. On the basis of type, the market is divided into peripheral angioplasty balloons, peripheral stents, peripheral catheters, inferior vena cava (IVC) filters, plaque modification devices, hemodynamic flow alteration devices, and peripheral accessories. By region, the market is studied across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, India, China, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA)
The key companies operating in the market include Abbott Laboratories, Boston Scientific Corporation, Cook Medical, Cardinal Health, Inc., Becton, Dickinson and Company, Terumo Corporation, Koninklijke Philips N.V, AngioDynamics, Inc., BIOTRONIK, and B. Braun Melsungen AG.
KEY BENEFITS FOR STAKEHOLDERS • The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
• It offers a quantitative analysis from 2019 to 2027, which is expected to enable stakeholders to capitalize on prevailing market opportunities.
• The key market players and their strategies have been analyzed to understand the competitive outlook of the market.
KEY MARKET SEGMENTS
By type • Peripheral Angioplasty Balloons
o Old/Normal Balloons
o Cutting and Scoring Balloons
o Drug-Coated Balloons
• Peripheral Stents
o Drug-eluting Stents
• Peripheral Catheters
o Angiography Catheters
o Guiding Catheters
• Inferior Vena Cava (IVC) Filters
o Permanent Filters
o Retrievable Filters
• Plaque Modification Devices
o Thrombectomy Devices
- Mechanical Thrombectomy Devices
- Aspiration Thrombectomy Devices
- Rheolytic Thrombectomy Devices
o Atherectomy Devices
• Hemodynamic Flow Alteration Devices
o Embolic Protection Devices
o Chronic Total Occlusion Devices
• Peripheral Accessories
o Vascular Closure Devices
o Introducer Sheaths
o Balloon Inflation Devices
By Region North America
• Rest of Europe
• Rest of Asia-Pacific
• Saudi Arabia
• South Africa
• Rest of LAMEA
LIST OF KEY PLAYERS PROFILED IN THE REPORT • Abbott Laboratories
• B. Braun Melsungen AG
• Becton, Dickinson and Company
• Boston Scientific Corporation
• Cook Medical
• Cardinal Health, Inc.
• Koninklijke Philips N.V
• TERUMO CORPORATION.
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