Global Peripheral Artery Disease Market

Peripheral Artery Disease Market Size, Share, Growth Analysis, By Treatment Type(Devices, Catheters, Drugs and Other), By Route of Administration(Oral, Parenteral, and Others), By End Users(Hospitals, Specialty clinics, and Others), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35A2750 | Region: Global | Published Date: April, 2024
Pages: 219 |Tables: 90 |Figures: 68

Peripheral Artery Disease Market Insights

Global Peripheral Artery Disease Market size was valued at USD 4.27 billion in 2022 and is poised to grow from USD 4.66 billion in 2023 to USD 9.28 billion by 2031, growing at a CAGR of 9.80% in the forecast period (2024-2031).

Surveys indicate that approximately 6.5 million individuals aged 40 and older in the United States are affected by Peripheral Artery Disease (PAD). Both men and women are susceptible to PAD, but statistics reveal that African Americans face an elevated risk of developing this condition. The aging demographic contributes significantly to the rise in PAD prevalence, as the likelihood of developing vascular diseases increases with age. Additionally, the continuous aging of the population is accompanied by an uptick in product approvals related to the diagnosis, management, and treatment of PAD. These factors collectively amplify the overall risk of developing peripheral arterial disease. The intersection of demographic shifts, increased disease prevalence, and advancements in medical technology underscores the multifaceted nature of the risk factors associated with PAD in the United States.

Market Snapshot - 2024-2031

Global Market Size

USD 4.27 billion

Largest Segment

Peripheral Angioplasty Balloons

Fastest Growth

Growth Rate

9.80% CAGR

Global Peripheral Artery Disease Market ($ Bn)
Country Share for North America Region (%)

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Peripheral Artery Disease Market Segmental Analysis

On the basis of treatment type, the peripheral artery disease (PAD) market is segmented into devices, catheters, drugs and other. On the basis of route of administration, the peripheral artery disease (PAD) market is segmented into oral, parenteral and others. On the basis of end users, the peripheral artery disease (PAD) market is segmented into hospitals, specialty clinics, and others. Based on service type, the global peripheral artery disease market is bifurcated into peripheral angioplasty balloons, plaque modification devices, peripheral stents, peripheral catheters, hemodynamic flow alteration devices, inferior vena cava (IVC) filters, and peripheral accessories.

Analysis by Service Type

In 2022, the peripheral stents segment emerged as the predominant contributor to the overall market, exhibiting substantial growth with a projected CAGR of 7.5% during the forecast period. Peripheral stents play a pivotal role in addressing vascular complications, as they are designed to treat narrowing or blockages within arteries or veins. These small tubular metal scaffolds are strategically inserted into peripheral vessels, facilitating the restoration and enhancement of blood flow.

In 2022, the peripheral angioplasty balloons segment is anticipated to experience a robust CAGR of 8.9%, marking it as a high-growth component within the peripheral arterial disease market. Peripheral angioplasty balloons play a crucial role in widening narrowed arteries during angioplasty procedures. This intervention involves the use of a wire to guide an empty balloon catheter into constricted arteries, positioning it precisely for the desired outcome. Upon reaching the target location, the balloon is inflated, displacing stenosis or narrowing on the vessel wall.

Analysis by Procedure

The ambulatory surgical clinics segment plays a crucial role in the peripheral artery disease (PAD) market, contributing significantly to the overall landscape of vascular interventions. Ambulatory surgical clinics are pivotal healthcare facilities that specialize in providing outpatient surgical procedures, including those related to peripheral artery disease. These clinics offer a convenient and efficient alternative to traditional hospital settings, allowing for streamlined patient care, reduced waiting times, and cost-effective treatments.

The hospitals & clinics category has emerged as the leading revenue generator within the peripheral arterial disease market. The robust financial performance of this segment is expected to experience further augmentation driven by several factors. The anticipated growth in healthcare capital equipment expenditures is poised to play a pivotal role, reflecting the increasing investment in advanced medical technologies and equipment within hospital and clinic settings. Additionally, the favorable impact of technology, specifically the utilization of lifeline curves, is anticipated to contribute to segmental growth.

Global Peripheral Artery Disease Market By Service Type, 2022 (%)

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Peripheral Artery Disease Market Regional Insights

North America currently holds a dominant position in the peripheral artery disease (PAD) market, driven by continuous advancements in the latest technologies. The region's commitment to technological innovation contributes significantly to the growth of the PAD market, as it fosters the development of cutting-edge diagnostic and therapeutic solutions. Additionally, the introduction of innovative drug molecules aimed at enhancing treatment procedures further augments the market's expansion in North America throughout the forecast period.

Asia-Pacific is poised to witness substantial growth in the PAD market, primarily attributed to the increasing patient pool in the region. The rising prevalence of peripheral arterial disease underscores the demand for advanced healthcare solutions. Furthermore, significant investments in the healthcare sector within Asia-Pacific are expected to act as a catalyst, propelling the growth of the PAD market in the region in the forthcoming years. This combination of a burgeoning patient population and strategic investments positions Asia-Pacific as a key growth hub in the global PAD market landscape.

Global Peripheral Artery Disease Market By Region, 2024-2031
  • Largest
  • Fastest

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Peripheral Artery Disease Market Dynamics

Drivers

Rise in the Elderly Population

  • The escalating number of elderly individuals grappling with diabetes and hypertension stands out as a significant risk factor contributing to the surge in peripheral artery disease (PAD), thereby fueling the market. Geriatric populations are particularly susceptible to the development of vascular complications, with diabetes and high blood pressure exacerbating the risk. These chronic conditions often lead to the narrowing and hardening of arteries, diminishing blood flow to the extremities and increasing the likelihood of PAD.

Restraints

Concerns Regarding Product Recalls

  • The anticipated recurrence of peripheral artery disease (PAD) even post-treatment is poised to be a significant obstacle in the growth trajectory of the peripheral arterial disease market during the forecast period. Despite advancements in medical interventions, the likelihood of PAD reoccurrence poses a challenge to sustained market expansion. Additionally, concerns regarding product recalls within the industry may further compound challenges for the peripheral arterial disease market in the near future. Product recalls can impact consumer confidence, create regulatory scrutiny, and necessitate corrective measures, all of which may impede the overall growth and stability of the PAD market. Navigating these challenges will require a concerted effort from stakeholders to address the complexities associated with disease management and product safety, ensuring the sustained development of effective solutions in the field of peripheral arterial disease.

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Peripheral Artery Disease Market Competitive Landscape

The competitive environment of the global Peripheral Artery Disease market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry.

Top Player’s Company Profiles

  • Bayer AG (Germany)
  • Abbott (US)
  • Boston Scientific Corporation (US)
  • BIOTRONIK (Germany)
  • Cardinal Health (US)
  • Terumo Corporation (Japan)
  • AngioDynamics (US)
  • Koninklijke Philips NV (Netherlands)
  • Cook (US)
  • Medtronic (Ireland)
  • Cardinal Health (US)
  • B. Braun Melsungen AG (Germany)

Recent Developments

  • In June 2022, Cardio Flow, Inc., a renowned manufacturer specializing in minimally invasive peripheral vascular devices for treating Peripheral Arterial Disease (PAD), achieved a significant milestone with the FDA approval of its FreedomFlow Peripheral Guidewire.
  • In January 2022, Cook Medical received a breakthrough device designation from the United States Food and Drug Administration (FDA) for a groundbreaking drug-eluting stent designed for below the knee (BTK) applications.

Peripheral Artery Disease Key Market Trends

  • The increasing prevalence of peripheral artery diseases (PAD) and the concurrent rise in product approvals represent significant factors expected to unlock potential opportunities for the growth of the PAD market in the foreseeable future. The expanding incidence of PAD, characterized by the narrowing of arteries that supply blood to the limbs, emphasizes the critical need for advanced diagnostic and therapeutic solutions. As regulatory bodies continue to approve novel products aimed at addressing the complexities of PAD, the market is poised for expansion. These product approvals reflect advancements in medical technologies, offering innovative approaches for diagnosing, managing, and treating PAD.

Peripheral Artery Disease Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

Global Peripheral Artery Disease marketplace analysis exhibits a dynamic marketplace with some of standout developments and problems. The CAGR of the peripheral artery disease market is being notably influenced by the rising demand for minimally invasive procedures. The heightened preference for less invasive interventions is a key driver shaping the market dynamics. However, the parallel surge in peripheral arterial disease (PAD) cases is exerting a counteracting effect, negatively impacting the market's overall expansion. The prevalence of PAD, affecting over 200 million individuals globally and linked to elevated mortality and morbidity rates, is underscored in the American Heart Association's 2021 report.

Report Metric Details
Market size value in 2022 USD 4.27 billion
Market size value in 2031 USD 9.28 billion
Growth Rate 9.80%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Treatment Type
    • Devices, Catheters, Drugs and Other
  • Route of Administration
    • Oral, Parenteral, and Others
  • End Users
    • Hospitals, Specialty clinics, and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Bayer AG (Germany)
  • Abbott (US)
  • Boston Scientific Corporation (US)
  • BIOTRONIK (Germany)
  • Cardinal Health (US)
  • Terumo Corporation (Japan)
  • AngioDynamics (US)
  • Koninklijke Philips NV (Netherlands)
  • Cook (US)
  • Medtronic (Ireland)
  • Cardinal Health (US)
  • B. Braun Melsungen AG (Germany)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Peripheral Artery Disease Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Peripheral Artery Disease Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Peripheral Artery Disease Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Peripheral Artery Disease Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Peripheral Artery Disease Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Peripheral Artery Disease Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Peripheral Artery Disease Market size was valued at USD 4.27 billion in 2022 and is poised to grow from USD 4.66 billion in 2023 to USD 9.28 billion by 2031, growing at a CAGR of 9.80% in the forecast period (2024-2031).

The competitive environment of the Peripheral Artery Disease market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Bayer AG (Germany)', 'Abbott (US)', 'Boston Scientific Corporation (US)', 'BIOTRONIK (Germany)', 'Cardinal Health (US)', 'Terumo Corporation (Japan)', 'AngioDynamics (US)', 'Koninklijke Philips NV (Netherlands)', 'Cook (US)', 'Medtronic (Ireland)', 'Cardinal Health (US)', 'B. Braun Melsungen AG (Germany)'

The escalating number of elderly individuals grappling with diabetes and hypertension stands out as a significant risk factor contributing to the surge in peripheral artery disease (PAD), thereby fueling the market. Geriatric populations are particularly susceptible to the development of vascular complications, with diabetes and high blood pressure exacerbating the risk. These chronic conditions often lead to the narrowing and hardening of arteries, diminishing blood flow to the extremities and increasing the likelihood of PAD.

The increasing prevalence of peripheral artery diseases (PAD) and the concurrent rise in product approvals represent significant factors expected to unlock potential opportunities for the growth of the PAD market in the foreseeable future. The expanding incidence of PAD, characterized by the narrowing of arteries that supply blood to the limbs, emphasizes the critical need for advanced diagnostic and therapeutic solutions. As regulatory bodies continue to approve novel products aimed at addressing the complexities of PAD, the market is poised for expansion. These product approvals reflect advancements in medical technologies, offering innovative approaches for diagnosing, managing, and treating PAD.

North America currently holds a dominant position in the peripheral artery disease (PAD) market, driven by continuous advancements in the latest technologies. The region's commitment to technological innovation contributes significantly to the growth of the PAD market, as it fosters the development of cutting-edge diagnostic and therapeutic solutions. Additionally, the introduction of innovative drug molecules aimed at enhancing treatment procedures further augments the market's expansion in North America throughout the forecast period.

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