USD 10.86 Billion
Global Peripheral Vascular Devices Market Size, Share, Growth Analysis, By Product Type(Angioplasty balloons, stents), By Application(Peripheral artery disease (PAD), deep vein thrombosis (DVT)), By End user(Hospitals, ambulatory surgical centers) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2529 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
94 |
Figures:
76
Global Peripheral Vascular Devices Market Insights
Global Peripheral Vascular Devices Market size was valued at USD 10.86 Billion in 2022 and is poised to grow from USD 11.45 Billion in 2023 to USD 17.43 Billion by 2031, at a CAGR of 5.4% during the forecast period (2024-2031).
Global Peripheral Vascular Devices Market is a dynamic and rapidly growing sector that encompasses the development, manufacturing, and distribution of medical devices used in the diagnosis and treatment of peripheral vascular diseases. With a rising prevalence of vascular diseases and aging population, the demand for innovative and effective peripheral vascular devices is increasing worldwide. The purpose of the peripheral vascular devices market is to provide medical professionals with advanced tools and technologies to diagnose and treat vascular conditions. These devices enable minimally invasive procedures, such as angioplasty, stenting, atherectomy, and thrombectomy, which offer quicker recovery times, reduced complications, and improved patient comfort. They help restore blood flow, alleviate pain, and prevent complications associated with vascular diseases.
The increasing prevalence of lifestyle-related diseases, such as diabetes, obesity, and hypertension, contributes to the rising incidence of vascular conditions, driving the demand for effective treatment options. Furthermore, technological advancements in imaging techniques, such as ultrasound and angiography, enhance the accuracy of diagnosis and guide interventions, fostering the adoption of peripheral vascular devices. Moreover, favorable reimbursement policies and growing awareness among healthcare providers and patients further fuel market growth. However, stringent regulatory requirements and approval processes can pose challenges for device manufacturers, leading to longer timeframes and higher costs for bringing new products to market. Additionally, the high cost of advanced peripheral vascular devices may limit their accessibility, particularly in emerging economies. Furthermore, the lack of skilled healthcare professionals proficient in performing complex procedures using these devices can hinder the market growth. Key trends shaping the peripheral vascular devices market include the development of drug-coated balloons, bioresorbable stents, and other innovative technologies that enhance the efficacy and long-term outcomes of vascular interventions. The market is also witnessing a shift towards personalized medicine, where devices are tailored to individual patient needs, optimizing treatment outcomes. Moreover, the integration of digital health technologies, such as remote monitoring and telemedicine, holds immense potential in improving patient care and treatment adherence.
US Peripheral Vascular Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Ambulatory Surgical Centers
Growth Rate
5.4% CAGR
Global Peripheral Vascular Devices Market ($ Bn)
Country Share for North America Region (%)
Global Peripheral Vascular Devices Market By End User ($ Bn)
Global Peripheral Vascular Devices Market By End User %
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Global Peripheral Vascular Devices Market Segmental Analysis
Global Peripheral Vascular Devices Market is segmented on the basis of product type, application, end user, and region. By product type, the market is segmented into angioplasty balloons, stents, embolic protection devices, peripheral vascular catheters, atherectomy devices, and vascular closure devices. By application, the market is segmented into peripheral artery disease (PAD), deep vein thrombosis (DVT), varicose veins, and arteriovenous fistulas. By end user, the market is segmented into hospitals, ambulatory surgical centers, and specialty clinics. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Peripheral Vascular Devices Market Analysis By Product Type
Angioplasty balloons dominated the global peripheral vascular devices market, accounting for the largest share in terms of revenue and market presence. This segment has experienced tremendous growth, driven by the increasing prevalence of peripheral artery disease (PAD) and the growing demand for minimally invasive treatment options. The angioplasty balloons segment showcases remarkable numbers, with a significant market share of approximately 43.67% in the overall peripheral vascular devices market. This growth can be attributed to their effectiveness in restoring blood flow in diseased or narrowed peripheral arteries, thereby reducing the risk of complications and improving patients' quality of life. These balloons, crafted with precision engineering and advanced materials, enable healthcare professionals to perform procedures with enhanced accuracy and safety. The rise in adoption is further propelled by the continuous advancements in balloon technologies, such as drug-eluting balloons and cutting-edge coatings, which have demonstrated improved clinical outcomes.
The embolic protection devices segment stands out as the fastest growing. This remarkable growth is fueled by the rising awareness of the potential risks associated with peripheral interventions and the increasing demand for effective solutions that minimize complications. These devices act as a safeguard during procedures, preventing embolic particles from entering the bloodstream and reducing the risk of adverse events. The fast-paced growth of the embolic protection devices segment can be attributed to a combination of factors, including the growing adoption of endovascular techniques, the rising prevalence of atherosclerosis and other arterial disorders, and the increasing focus on patient safety and positive clinical outcomes.
Peripheral Vascular Devices Market Analysis By End User
Hospitals dominated the global peripheral vascular devices market. Hospitals serve as primary centers for providing comprehensive medical care and advanced treatment options. They have a wide range of specialized departments and units, including cardiology, radiology, and vascular surgery, where peripheral vascular devices are extensively utilized. Moreover, hospitals are often equipped with state-of-the-art facilities, advanced diagnostic tools, and a team of highly skilled healthcare professionals. This allows them to handle complex cases and perform intricate procedures that require peripheral vascular devices. As a result, hospitals witness a high volume of patients seeking treatment for various vascular conditions, thereby driving the demand for peripheral vascular devices.
Ambulatory surgical centers (ASCs) are experiencing rapid growth and emerging as the fastest growing segment in the global peripheral vascular devices market. ASCs offer several advantages that contribute to their increasing popularity among patients and healthcare providers alike. ASCs provide outpatient surgical procedures in a convenient and cost-effective manner. They offer a streamlined and efficient healthcare experience, allowing patients to undergo procedures and return home on the same day. This reduces the overall healthcare costs for patients and minimizes the burden on hospital resources. Furthermore, technological advancements in peripheral vascular devices have facilitated the development of minimally invasive procedures that can be performed in ASCs. These procedures offer faster recovery times, fewer complications, and improved patient outcomes. The combination of these factors has resulted in a rising preference for ASCs as a viable alternative to hospitals for peripheral vascular treatments.
Global Peripheral Vascular Devices Market By End User, 2023 (%)
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Global Peripheral Vascular Devices Market Regional Insights
North America dominated the global market. Renowned for its robust healthcare infrastructure and high adoption of advanced medical technologies, North America has emerged as a frontrunner in this market. The region is home to several prominent market players, driving innovation and propelling market growth. One notable example of a dominant player in North America's peripheral vascular devices market is Medtronic, a global leader in medical technology. Medtronic offers a comprehensive portfolio of peripheral vascular devices, including stents, angioplasty balloons, and atherectomy devices. Their cutting-edge solutions cater to a wide range of vascular conditions, ensuring improved patient outcomes and quality of life. With its vast product offerings and strong market presence, Medtronic enjoys a significant market share in the region.
Moving on to the fastest growing region in the global peripheral vascular devices market, Asia Pacific takes the spotlight. The region is witnessing an upsurge in the prevalence of peripheral vascular diseases due to factors such as sedentary lifestyles, an aging population, and rising incidence of risk factors like diabetes and hypertension. As a result, the demand for advanced vascular devices is skyrocketing, paving the way for substantial market growth in the Asia Pacific. A compelling example of a market player capitalizing on the flourishing Asia Pacific region is Terumo Corporation. Terumo is a leading Japanese medical device company that specializes in peripheral vascular devices. Their innovative product line includes guidewires, catheters, and embolic protection devices, designed to address the specific needs of patients with peripheral artery disease. With its strategic investments and partnerships in Asia Pacific, Terumo has been successful in capturing a significant market share in the region's expanding market.
Global Peripheral Vascular Devices Market By Region, 2024-2031
- Largest
- Fastest
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Global Peripheral Vascular Devices Market Dynamics
Peripheral Vascular Devices Market Drivers
Increasing prevalence of cardiovascular diseases
- The rising prevalence of cardiovascular diseases, such as peripheral artery disease (PAD) and deep vein thrombosis (DVT), is a significant driver for the peripheral vascular devices market. According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of death worldwide. This increasing burden of cardiovascular diseases creates a growing demand for peripheral vascular devices for diagnosis and treatment.
Peripheral Vascular Devices Market Restraints
High cost of peripheral vascular devices
- The high cost associated with peripheral vascular devices is a significant restraint in the market. These devices can be expensive due to factors such as research and development costs, regulatory requirements, and the use of advanced materials and technologies. The high cost of these devices can limit their adoption, particularly in developing countries with limited healthcare budgets and reimbursement challenges.
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Global Peripheral Vascular Devices Market Competitive Landscape
Global Peripheral Vascular Devices Market is highly competitive and characterized by the presence of several established players as well as new entrants striving to gain market share. Key players in the market focus on product innovation, strategic collaborations, and mergers and acquisitions to maintain their competitive edge. They invest significantly in research and development activities to introduce advanced and technologically advanced peripheral vascular devices. The competition in the market is driven by factors such as product quality, pricing strategies, distribution networks, and customer relationships. The market players also aim to expand their geographical presence and target emerging markets to tap into the growing demand for peripheral vascular devices. Overall, the competitive landscape of the global peripheral vascular devices market is dynamic and intense, with companies continuously striving to meet the evolving needs of healthcare providers and patients worldwide.
Peripheral Vascular Devices Market Top Player’s Company Profile
- Cook Medical (US)
- Cordis Corporation (US)
- Terumo Corporation (Japan)
- Becton, Dickinson and Company (US)
- Johnson & Johnson (US)
- C.R. Bard (US)
- Cardinal Health (US)
- AngioDynamics (US)
- Penumbra, Inc. (US)
- W. L. Gore & Associates (US)
- Endologix (US)
- MicroPort Scientific Corporation (China)
- BTG plc (UK)
- Spectranetics Corporation (US)
- Teleflex Incorporated (US)
- Edwards Lifesciences Corporation (US)
- Lombard Medical Technologies (UK)
Peripheral Vascular Devices Market Recent Developments
- In January 2023, Boston Scientific Corporation received FDA approval for its IN.PACT Admiral™ drug-coated balloon (DCB) for the treatment of patients with symptomatic peripheral artery disease (PAD).
- In February 2023, Medtronic plc announced the launch of its EnVeo™ drug-eluting stent (DES) for the treatment of patients with PAD.
- In March 2023, Terumo Corporation received a CE mark for its Zilver PTX™ DCB for the treatment of patients with PAD.
- In April 2023, Bard Peripheral Vascular, Inc. received FDA approval for its Lutonix™ 120V drug-coated balloon (DCB) for the treatment of patients with PAD.
- In May 2023, Cook Medical announced the launch of its Zilver PTX™ DCB in the United States.
Global Peripheral Vascular Devices Key Market Trends
- Growing demand for drug-eluting devices: There is a growing trend in the peripheral vascular devices market towards the use of drug-eluting devices. These devices are designed to deliver therapeutic drugs directly to the affected blood vessels, preventing restenosis (re-narrowing) and reducing the need for repeat interventions. For example, drug-eluting stents release anti-proliferative drugs to inhibit the growth of scar tissue in the artery, improving long-term outcomes for patients.
Global Peripheral Vascular Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Peripheral Vascular Devices Market analysis, the market is experiencing significant growth and is expected to continue expanding in the coming years. Factors driving this growth include the rising prevalence of peripheral vascular diseases, the increasing geriatric population, and the growing adoption of minimally invasive procedures. Technological advancements in peripheral vascular devices, such as stents, catheters, and angioplasty balloons, are also contributing to market growth. Additionally, favorable reimbursement policies and healthcare infrastructure developments in emerging economies are creating opportunities for market players. However, challenges such as stringent regulatory requirements and high costs associated with these devices may hinder market growth to some extent. Overall, the market research analysts predict a positive outlook for the global peripheral vascular devices market, with a focus on innovation and product development being key factors for companies to gain a competitive edge.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 10.86 Billion |
| Market size value in 2031 | USD 17.43 Billion |
| Growth Rate | 5.4% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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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 Global Peripheral Vascular Devices 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
- Exhibit: Impact analysis of DROC, 2021
- 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 Global Peripheral Vascular Devices 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
- Exhibit: Impact analysis of DROC, 2021
- 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
- Competitive rivalry
- 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(%)
- Total number of companies covered
Methodology
For the Global Peripheral Vascular Devices 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 Global Peripheral Vascular Devices 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 Global Peripheral Vascular Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Peripheral Vascular Devices 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.
Global Peripheral Vascular Devices Market Report Snapshots
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