What are the Historical Developments and Current Growth Metrics of the Peripheral Vascular Devices And Equipment Market?
The peripheral vascular devices and equipment market has seen considerable growth due to a variety of factors.
• In the past few years, we've seen a robust growth in the size of the market for peripheral vascular devices and equipment. It is forecasted to expand from $10.62 billion in 2024 to $11.37 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.1%.
Factors contributing to the growth during the historic period include the prevalence of cardiovascular diseases, an aging population, management of chronic diseases, clinical guidelines, and research.
What Is The Projected Growth Of The Peripheral Vascular Devices And Equipment Template Market?
The peripheral vascular devices and equipment market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for peripheral vascular devices and equipment is predicated to experience stable growth in the imminent years, expanding to a value of $13.44 billion in 2029, with a compound annual growth rate (CAGR) of 4.3%.
The acceleration in the forecasted timeframe is related to factors such as the use of minimally invasive procedures, incorporation of telehealth, worldwide healthcare accessibility, and drug-coated devices. Significant future trends encompass the employment of artificial intelligence (AI) in vascular medicine, robot-facilitated interventions, point-of-care diagnosis, and bioresorbable vascular scaffolds.
What Are The Key Drivers Fueling Growth In The Peripheral Vascular Devices And Equipment Market?
The growth of the peripheral vascular devices and equipment market is attributed to the increased incidence of peripheral artery diseases. These health issues occur when human arteries are obstructed by plaque buildup, which is a composition of fats, cholesterol, and other elements. This limits blood circulation to crucial organs. Lower extremity peripheral artery disease (PAD) impacts over 230 million adults globally, and it increases the risk of adverse health situations, including other cardiovascular diseases like coronary heart disease, stroke, and leg disorders such as amputation. Although the disease behaves differently in younger demographics, the rate of occurrence significantly increases, affecting over 20% of individuals over 80 years of age. The Center for Disease Control and Prevention (CDC) reports that around 8.5 million individuals in the US have peripheral artery diseases, with 12-20% being over 60 years old.
What Are The Principal Market Segments In The Global Peripheral Vascular Devices And Equipment Industry?
The peripheral vascular devices and equipment market covered in this report is segmented –
1) By Type: Peripheral vascular stents, Percutaneous transluminal angioplasty balloons, Catheters, PTA guide wires, Atherectomy devices, Chronic total acclusion devices, Aortic stents, Synthetic surgical grafts, Embolic protection devices, Inferior vena cava filters
2) By Application: Treatment of Peripheral Blood Vessels Damaged, Treatment of Peripheral Blood Vessels Blockage
3) By End User: Hospital applications, Clinic applications
Subsegments:
1) By Peripheral Vascular Stents: Balloon-expandable Stents, Self-expanding Stents
2) By Percutaneous Transluminal Angioplasty Balloons: Drug-coated Balloons, Non-drug-Coated Balloons
3) By Catheters: Diagnostic Catheters, Therapeutic Catheters
4) By PTA Guide Wires: Hydrophilic Guide Wires, Non-hydrophilic Guide Wires
5) By Atherectomy Devices: Rotational Atherectomy Devices, Orbital Atherectomy Devices, Laser Atherectomy Devices, Directional Atherectomy Devices
6) By Chronic Total Occlusion Devices: CTO crossing devices, CTO re-entry devices
7) By Aortic Stents: Self-expanding Aortic Stents, Balloon-expandable Aortic Stents
8) By Synthetic Surgical Grafts: Polyester Grafts, Polytetrafluoroethylene (PTFE) Grafts, Dacron Grafts
9) By Embolic Protection Devices: Distal Protection Devices, Proximal Protection Devices
10) By Inferior Vena Cava Filters: Permanent Filters, Retrievable Filters
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What Emerging Trends Are Influencing The Growth Of The Peripheral Vascular Devices And Equipment Market?
Major firms in the peripheral vascular devices and equipment market are prioritizing the development of innovative products, including catheters with a larger diameter, to improve peripheral artery disease therapies. Catheters of a larger diameter are healthcare appliances crafted to enable the draining or dispensing of fluids, medications or other substances. For example, in March 2023, a US medical device firm, Shockwave Medical Inc., introduced the peripheral intravascular lithotripsy (IVL) catheter. The Shockwave L6 Peripheral IVL catheter stands out due to its specific design, aimed at effectively modifying calcification in challenging lesions located in large peripheral arteries, such as the iliac and common femoral arteries. This focused tactic addresses the regular problem of artery calcification, generally associated with lesser procedural success and increased complications with standard endovascular procedures.
Who Are the Key Players In The Peripheral Vascular Devices And Equipment Market?
Major companies operating in the peripheral vascular devices and equipment market include:
• Medtronic plc
• Boston Scientific Corporation
• Abbott Laboratories
• Cook Group
• Angiomed GmbH & Co. Medizintechnik KG
• Terumo Corporation
• ENDOLOGIX Inc.
• Bolton Medical Inc.
• JOTEC GmbH
• Clearstream Technologies
• Aesculap AG
• Curative Medical Devices
• Lepu Medical Technology
• MicroPort
• Bioteque Corporation Co.Ltd.
• Cardinal Health
• iVascular
• B. Braun Group
• Biosensors International Group
• BIOTRONIK SE & Co.
• COVIDien
• Volcano Corporation
• AngioScore
• Edwards Lifesciences Corporation
• Cordis Corporation
• Koninklijke Philips N.V.
• Nipro Corporation
• Bluesail Medical Co. Ltd
• Rex Medical
• Teleflex Incorporated
• Penumbra Inc.
• Lombard Medical Technologies PLC
• W.L. Gore & Associates Inc.
• Merit Medical Systems Inc.
• Vascular Solutions Inc.
• LeMaitre Vascular Inc.
• Spectranetics Corporation
What Are The Regional Insights Into The Peripheral Vascular Devices And Equipment Market?
North America was the largest region in global peripheral vascular devices and equipment market in 2023. Western Europe was the second-largest region in global peripheral vascular devices and equipment market. The regions covered in the peripheral vascular devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
