Peripheral Vascular Devices Market

Peripheral Vascular Devices Market Snapshot (2022 to 2032)

The global peripheral vascular devices market is expected to enjoy a valuation of USD 4.7 Billion by the end of the year 2022, and further expand at a CAGR of 6.6% to reach a valuation of USD 8.9 Billion by the year 2032. According to a recent study by Future Market Insights, peripheral vascular stents are leading the market with a share of about 78.5% in the year 2021, within the global market.

Market Outlook:

Data Points	Market Insights
Market Value 2021	USD 4.5 Billion
Market Value 2022	USD 4.7 Billion
Market Value 2032	USD 8.9 Billion
CAGR 2022 to 2032	6.6%
Market Share of Top 5 Countries	57.6%
Key Market Players	Abbott Laboratories; Boston Scientific Corporation; Cook Medical Inc.; MicroPort Scientific Corporation (Endovastec™); Medtronic Plc.; Cardinal Health, Inc.; B. Braun Melsungen AG; BIOTRONIK SE & Co. KG; Becton, Dickinson, and Company; W. L. Gore & Associates Inc.; Getinge AB; Terumo Corp; Kyoto Medical Planning Co Ltd; iVascular S.L.U; AMG International GmbH; ENDOCOR GmbH; Meril Life Sciences Pvt. Ltd.; Nano Therapeutics Pvt Ltd; Koninklijke Philips N.V.; REVA Medical

Plaque in the arteries that carry blood to the body is the primary cause of peripheral arterial disease (PAD). It generally suggests systemic atherosclerosis and an elevated risk of cardiovascular events. Diabetic patients, smokers, the elderly, and those with cardiovascular disease are most vulnerable to PAD.

About half of the persons with PAD are asymptomatic, regardless of whether it causes symptoms, PAD can imply systemic atherosclerosis and an elevated risk of heart disease and stroke. Many novel technologies, as well as new versions of existing devices, are now available for endovascular, less invasive treatment of PAD.

Sales Analysis of Peripheral Vascular Devices Market from 2012 to 2021 Vs Market Outlook for 2022 to 2032

The market value for peripheral vascular devices was approximately 52.0% of the overall USD 8.6 Billion of the global stents market in 2021. The sales of peripheral vascular devices expanded at a CAGR of 4.4% from 2012 to 2021, owing to a high incidence of cardiovascular disease burden, globally.

Minimally invasive endovascular procedures to expand the artery opening, such as angioplasty or atherectomy, are currently employed more frequently than bypass surgery as the initial treatment strategy for PAD. The two primary forms of endovascular therapies for PAD are balloon angioplasty with stenting and atherectomy. Endovascular therapy or vascular surgery can be used to treat patients with severe PAD.

A large volume of the population worldwide suffers from critical limb ischemia (CLI), the most severe form of peripheral arterial disease (PAD). While endovascular therapy has been the first choice of treatment in the majority of cases, there is still a range of barriers to the best treatment of diseases such as infrapopliteal (IP) disease.

Endovascular therapy outcomes have significantly improved as technology has advanced. Several innovative technologies are now being developed, including intravascular lithotripsy, percutaneous femoropopliteal bypass, paclitaxel-eluting stents, and the adventitial delivery of anti-restenosis medicines.

As the world's population has grown, so has the demand for healthcare services. Due to an increase in the senior population, the number of individuals suffering from cardiovascular disorders has continually increased. As a result, the demand for devices used in the treatment of cardiovascular disorders has increased. Peripheral vascular devices can be used to treat a variety of heart and arterial problems.

Additionally, technological developments have had a favorable impact on the market shares for peripheral vascular devices. Moreover, the rapid growth of the healthcare industry in developing nations has a beneficial impact on the peripheral vascular devices market growth.

Thus, owing to the aforementioned factors, the global peripheral vascular devices market is expected to grow at a CAGR of 6.6% during the forecast period from 2022 to 2032.

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What are the Key Opportunities for the Peripheral Vascular Devices Market Manufacturers?

The market for peripheral vascular devices is set to be presented with opportunistic growth over the forecast period. This growth is expected to be owed to the introduction of novel products, such as upgraded drug-eluting vascular stents.

The FDA granted Boston Scientific an investigational device exemption (IDE) in 2015 to initiate a global, pivotal study of the Eluvia drug-eluting stent. EluviaTM Drug-Eluting Vascular Stent System was designed exclusively for the treatment of peripheral artery disease, and in 2018, the USA Food and Drug Administration (FDA) authorized its Premarket Approval (PMA) application.

Stents were first created as a tube that could be inserted intraluminally out of a metal alloy. Bare metal stents (BMSs), coated stents, and drug-eluting stents (DESs) are all types of stents that have evolved in recent years. They may also be self-expanding and balloon expandable. Stents are currently mostly made of nickel and titanium, stainless steel, cobalt chromium, or nickel and titanium.

Biodegradable polymers have been used to create bioabsorbable stents. Although the concept of a bioabsorbable material holds promise, it has not been established in randomized controlled studies and has not demonstrated enhanced or equivalent patency when compared to endarterectomy and PTA.

With the research and development required to improve the outcomes over more standardized approaches, the key players are presented with lucrative prospects for advancement.

What are the Factors Restraining Demand for Peripheral Vascular Devices?

The growth of the peripheral vascular devices market is restricted by factors that include device recall activities, device limitations, and the high cost of advanced devices. Medtronic issued the FDA’s most serious type of medical device recall, Class I, in response to reports of injuries associated with its HawkOne system for clearing blocked arteries.

About 95,000 devices sold to the United States of America since 2018 were subject to the recall, which Medtronic announced in early December 2021. Moreover, the material cost composition of peripheral vascular devices is greater within institutional settings, and the high-cost burden of adoption of these devices is a factor, which hinders the overall market.

Additionally, device limitations during the surgical procedure further pose a restrictive impact on the market expansion. Several procedures utilizing drug-eluting balloons come with the risk of occurrence of restenosis after treatment.

Keeping the above factors into consideration, the global market for peripheral vascular stents is subject to repression, in terms of growth, over the forecast period.

Country-wise Insights

What Makes the USA a Large Market for Peripheral Vascular Devices?

The USA dominates the North American region with a total market share of about 94.5% in 2021 and is expected to continue to experience the same growth throughout the forecast period. With a large population suffering from cardiovascular disorders, the product adoption rate for peripheral vascular devices is quite high within the country, thus propelling the USA into being the largest contributor towards the growth of the global peripheral vascular stents market.

What Makes China a Highly Lucrative Market for Peripheral Vascular Devices?

China holds approximately 56.5% share of the East Asia market in 2021 and is projected to display growth at a lucrative CAGR of 8.5% during the forecast period. China presents lucrative prospects for the growth of the overall market, owing to a prospective, multicenter, randomized, and controlled, superiority trial done at 14 hospitals in China as part of the FREEWAY-CHINA project.

The objective of this study was to assess the effectiveness and safety of the FREEWAY paclitaxel-coated balloon. According to the study, the FREEWAY paclitaxel-coated balloon outperformed the uncoated balloon in Chinese patients' target lesion revascularization at the 6- and 12-month mark. With established device adaptability and efficacy in the demographic, the market is poised to be fuelled by future product adoption within the country.

What is the Outlook of Germany in the Peripheral Vascular Devices Market?

Germany is set to exhibit a CAGR of nearly 6.0% in the European peripheral vascular devices market during the forecast period. The market expansion in Germany is owed to the large geriatric population, advanced medical device technology and research, and a high prevalence of chronic diseases.

Category-wise Insights

Which Peripheral Vascular Devices Product is Driving Market Growth?

Peripheral vascular stents are expected to present high growth at a CAGR of 6.0% by the end of the forecast period. With angioplasty procedures, the use of peripheral vascular stents is adapted for implantation into the artery for the removal of calcified lesions. A large disease population globally calls for a greater number of procedures involving the adoption of peripheral vascular stents, thus promoting this segment’s overall market value.

What Indication within the Peripheral Vascular Devices is Largely in Focus Globally?

Peripheral arterial disease holds a revenue share of 30.3% in the global market in 2021. Growing urban lifestyle, as well as a large population consuming alcohol and tobacco, are factors propelling the development of peripheral arterial disease. This segment thus holds a major focus within the market.

What Type of Artery is Largely in Focus within the Peripheral Vascular Devices Market Globally?

iliac artery holds a global revenue share of around 48.1% in 2021. Claudication and/or critical limb ischemia are primarily caused by aortoiliac disease, which has a prevalence of up to 10% in the general population and up to 20% in people over the age of 70 (Annals of Vascular Surgery, 2017). Peripheral artery disease includes aortoiliac occlusive disease.

A substantial portion of the global market for peripheral vascular devices is focused on the iliac artery segment due to increased concerns about this condition.

Which End User Benefits the Most From the Sales of Peripheral Vascular Devices Globally?

Hospitals hold the highest market share of about 60.4% during the year 2021. The growing prevalence of chronic and infectious diseases, as well as the associated increasing volumes of surgical procedures, have driven this segment to be a dominant fragment, propelling sales of the overall peripheral vascular devices market.

Competitive Landscape

The overall market is highly fragmented, with multiple rivals in the peripheral vascular device production sphere. These companies are using techniques such as mergers and acquisitions, partnerships and collaborations, and new product releases to meet consumer demand and expand their customer base.

• Cook Medical obtained FDA Breakthrough Device designation for a novel drug-eluting stent for below the knee in January 2022. (BTK). This novel stent is intended to treat individuals with chronic limb-threatening ischemia (CLTI).
• Cordis, a Cardinal Health business, acquired a new group purchasing product agreements with Premier on June 10, 2019, for eight interventional product categories. The Vascular Closure Devices (VCD) agreement went into effect on June 1st, while the coronary accords went into effect on July 1st.

Similarly, recent developments related to companies manufacturing peripheral vascular devices, have been tracked by the team at Future Market Insights, which are available in the full report.

Report Scope as per Peripheral Vascular Devices Industry Analysis

Attribute	Details
Forecast Period	2012 to 2021
Historical Data Available for	2022 to 2032
Market Analysis	USD Million for Value
Key Regions Covered	North America; Latin America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa
Key Countries Covered	USA, Canada, Brazil, Mexico, Argentina, United Kingdom, Germany, Italy, Russia, Spain, France, BENELUX, Nordic countries, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Turkey, GCC, Israel, North Africa, and South Africa
Key Market Segments Covered	Product, Indication, Artery, End User, and Region
Key Companies Profiled	Abbott Laboratories; Boston Scientific Corporation; Cook Medical Inc.; MicroPort Scientific Corporation (Endovastec™); Medtronic Plc.; Cardinal Health, Inc.; B. Braun Melsungen AG; BIOTRONIK SE & Co. KG; Becton, Dickinson, and Company; W. L. Gore & Associates Inc.; Getinge AB; Terumo Corp; Kyoto Medical Planning Co Ltd; iVascular S.L.U; AMG International GmbH; ENDOCOR GmbH; Meril Life Sciences Pvt. Ltd.; Nano Therapeutics Pvt Ltd; Koninklijke Philips N.V.; REVA Medical
Pricing	Available upon Request

Key Market Segments Covered in Peripheral Vascular Devices Industry Research

By Product:

• Peripheral Vascular Stents
  • Self-Expanding Stents
  • Balloon Expanding Stents
  • Covered Stents
• Drug-Eluting Stents
• Drug Eluting Balloons
• Peripheral Vascular Bioresorbable Scaffolds

By Indication:

• Target Artery Instability (TAI)
• Access Artery Injury (AAI)
• Peripheral Arterial Disease
• Arteriovenous Fistulas
• Peripheral Aneurysms
• Others

By Artery:

• Carotid Artery
• Fem-Pop Artery
• lliac Artery
• Infrapop Artery

By End User:

• Hospitals
• Ambulatory Surgical Centers/Outpatients
• Cardiac Catheterization Labs

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa (MEA)

Frequently Asked Questions

How much is the peripheral vascular devices market worth in 2021?

The global peripheral vascular devices market is worth USD 4.5 Billion in 2021 and is set to expand 1.9X over the next ten years.

What is the sales forecast for the peripheral vascular devices market through 2032?

The peripheral vascular devices market is expected to reach USD 8.9 Billion by the end of 2032, with sales revenue expected to register 6.6% CAGR.

What are the key trends shaping the peripheral vascular devices industry?

The growing burden of cardiovascular diseases, rising awareness regarding cardiovascular procedures, and the adoption of minimally invasive surgical techniques are some of the key trends in this market.

Which are the top 5 countries driving demand for peripheral vascular devices?

The USA, China, Germany, the United Kingdom, and India are expected to drive demand for the peripheral vascular devices industry.

At what percentage is the demand for peripheral vascular devices expected to register growth in South Asia?

Demand for peripheral vascular devices in South Asia is expected to register a 7.1% CAGR over the next ten years.

What is the North American market outlook for peripheral vascular devices?

North America is one of the key markets for peripheral vascular devices, with the USA accounting for about 94.5% of the North American peripheral vascular devices market in the year 2021.

At what percentage is the demand for peripheral vascular devices expected to register growth in Europe?

Demand for peripheral vascular devices in Europe is expected to register a 6.2% CAGR over the next ten years.

Which countries are the key producers of peripheral vascular devices?

The USA, China, and Germany are the key producers of peripheral vascular devices.

At what percentage is the demand for peripheral vascular devices expected to register growth in the Middle East and Africa (MEA)?

Demand for peripheral vascular devices in the Middle East and Africa(MEA) is expected to register a 5.7% CAGR over the next ten years.

Who are the key players in the peripheral vascular devices market sphere?

Abbott Laboratories, Boston Scientific Corporation, Cook Medical Inc., MicroPort Scientific Corporation (Endovastec™), Medtronic Plc., Cardinal Health, Inc., B. Braun Melsungen AG, BIOTRONIK SE & Co. KG, Becton, Dickinson and Company, W. L. Gore & Associates Inc., Getinge AB, Terumo Corp, Kyoto Medical Planning Co Ltd, iVascular S.L.U, AMG International GmbH, ENDOCOR GmbH, Meril Life Sciences Pvt. Ltd., Nano Therapeutics Pvt Ltd, Koninklijke Philips N.V., and REVA Medical, are some of the key pl