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Peripheral Vascular Devices And Equipment Market Size Expansion: A Snapshot of Growth Between 2024 and 2029
The market size for peripheral vascular devices and equipment has significantly expanded in the past few years. It is projected to increase from $10.62 billion in 2024 to $11.37 billion in 2025, showcasing a compound annual growth rate (CAGR) of 7.1%.
Factors such as the rise in cardiovascular disease, an aging population, management of chronic conditions, clinical regulations, and research have all contributed to the growth during the historic period.
The market size for peripheral vascular devices and equipment is predicted to experience a consistent rise in the coming years, reaching a value of $13.44 billion in 2029, with a compound annual growth rate (CAGR) of 4.3%. The forecast period’s expansion is credited to the implementation of minimally invasive procedures, integration of telehealth, worldwide healthcare accessibility, and the use of drug-coated devices.
The emerging trends for the forecast period encompass the application of artificial intelligence (AI) in vascular medicine, robot-aided interventions, point-of-care testing, and bioresorbable vascular scaffolds.
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Key Drivers Behind the Expansion of the Peripheral Vascular Devices And Equipment Market: Insights and Trends
The surge in the peripheral vascular devices and equipment market is primarily attributed to the escalating number of peripheral artery disease patients. These diseases occur when arteries in the human body get blocked by plaque, a blend of fats, cholesterol, and other substances, which diminishes their blood stream to crucial organs.
Globally, lower extremity peripheral artery disease (PAD) strikes more than 230 million adults, potentially leading to a higher risk of adverse clinical outcomes, including other cardiovascular ailments like coronary heart disease and stroke, as well as leg outcomes such as amputation. While the ailment varies in younger demographics, its prevalence escalates drastically, with over 20% of individuals above 80 years getting afflicted by PAD.
The Center for Disease Control and Prevention (CDC) has revealed that around 8.5 million inhabitants of the USA are fighting peripheral artery diseases, with 12-20% of them being above 60 years of age.
Which Segments in the Peripheral Vascular Devices And Equipment Industry Are Seeing the Fastest Growth?
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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Which New Trends Will Create Growth Opportunities in the Peripheral Vascular Devices And Equipment Market?
In the peripheral vascular devices and equipment market, the key players are concentrating on introducing improved products, such as wider-diameter catheters for improved peripheral artery disease treatment. Wider-diameter catheters are engineered to assist in the delivery or drainage of medications, fluids, or other substances.
For example, in March 2023, the US-based medical device firm, Shockwave Medical Inc., unveiled the peripheral intravascular lithotripsy (IVL) catheter. What sets the Shockwave L6 Peripheral IVL catheter apart is its specific design crafted to efficiently alter calcification in tough lesions located within large peripheral vessels, such as the iliac and common femoral arteries.
It provides a targeted solution to the frequent problem of these arteries’ calcification, which often results in less successful procedures and increased complications with conventional endovascular methods.
Which Global Regions Are Powering Demand in 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.
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How Key Players Are Driving Growth 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
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