Peripheral Vascular Devices Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Peripheral Vascular Devices Market Report is segmented By Type (Functional Peripheral Artery Disease, Organic Peripheral Artery Disease), By Device Type (Vascular Stents, Balloon Catheters, Guidewires, Atherectomy Devices, Inferior Vena Cava Filters, Embolic Protection Devices, Others), By End-User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Academic Research Centers, Others), and By Region (North America, Europe, South America¸ Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Peripheral Vascular Devices Market Overview

Global Peripheral Vascular Devices Market is expected to reach at a high CAGR during the forecast period 2023-2030.

Patients with peripheral arterial disease (PAD) include reduced lower extremity arterial perfusion referred to as “poor circulation.” In the majority of PAD patients, atherosclerotic plaques limit the arterial flow lumen restricting blood flow to the distal extremity. Decreased blood flow can yield thigh or calf discomfort with walking owing to temporary ischemia of the leg muscles during activity.

Producing the diagnosis of PAD in asymptomatic individuals has a substantial clinical influence since PAD serves as an attribute for systemic atherosclerosis. Individuals with PAD hold an equal cardiovascular threat to patients with prior myocardial infarction and demand aggressive threat factor transformation to enhance their long-term survival with atherosclerosis as it can lead to ischemic cardiac stroke.

The growing cases of peripheral arteial disease, market developments including mergers, acquisitions, products introductions among others, growing awareness among other factors are expected to boost the global peripheral artery disease device market growth in the forecast period. Further, the growing research activities, technological advancements and with fundings in peripheral artery disease device are also expected to contribute to the global market growth in the forecast period.

Peripheral Vascular Devices Market Scope

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Peripheral Vascular Devices Market Dynamics

High Prevalence of Peripheral Artery Disease

The high prevalence of peripheral artery disease is expected to boost the global market growth during the forecast period. For instance, according to NIH, PAD impacts more than 200 million adults globally, and the incidence of PAD advances to as elevated as 20% in individuals above the age of 70. Although PAD has conventionally been referred to as a condition impacting males, the preponderance of PAD seems to be similar in geriatric males and females. 

The under-diagnosis of PAD in the preliminary care setting may be a substantial problem, as the majority of patients with PAD do not exhibit the stereotypical claudication signs. Moreover, according to the American Heart Association, the incidence and preponderance of peripheral artery disease (PAD) persist to advance with above 200 million people living with this diagnosis globally. It has been related to substantial morbidity and mortality, and it is thought to be a coronary artery condition threat matching.

Also, according to the CDC, approximately 6.5 million individuals age 40 and older in the U.S. carry PAD. Both females and males are impacted by PAD whereas, African Americans have an advanced threat of PAD. The aging inhabitants, which lead to an upsurge in the preponderance of peripheral artery disease.  Further, the Society for Cardiovascular Angiography & Interventions estimated that over 10 million individuals in the United States are impacted by peripheral arterial disease (PAD).

Increasing Device Advancements

The increasing device advancements are also expected to contribute to the global Peripheral Artery Disease Device market growth during the forecast period. For instance, the percutaneous treatments for peripheral artery conditions persist to advance with new approaches and advanced devices. Although guidelines-recommended treatments have influenced cardiovascular morbidity and mortality, endovascular interventions have been demonstrated to lower limb pain, enhance the grade of life, extend walking span for those with claudication, and lower amputation rates among those with critical limb ischemia.

Moreover, novel devices like drug-eluting stents and drug-coated balloons have enhanced patency for moderate-length lesions, whereas others permit therapy of heavily calcified and tortuous features. New adjunctive instruments to strike lesions and lower or alter linked plaque have even been designed. Further, a better mechanistic interpretation of lower extremity endovascular therapy utilizing devices like intravascular ultrasound has emphasized the demand for adequate stent size selection for the femoropopliteal arterial segments and more extensive balloon diameters for the tibial arteries.

Availability of other Treatment Options

The availability of other treatment options including medications and surgery is expected to slow the global market growth during the forecast period. For instance, peripheral artey disease can be treated with medication which may include statins to lower cholesterol levels, and clopidogrel (Plavix) to prevent blood clots, among others. The surgical treatment includes Bypass surgery in which the surgeon constructs a route around the clogged artery utilizing either a healthy blood vessel from another part of the body or a synthetic one. 

In some cases Thrombolytic therapy is suggested if a blood clot is precluding an artery, a clot-dissolving drug may be administered directly into the involved artery. This avability of other treatment option for peripheral artey disease are expected to slow the global Peripheral Artery Disease Device market growth in the forecast period.

Cardiologists Workforce Shortage

The cardiologists' workforce gap is expected to hamper the global Peripheral Artery Disease Device market growth during the forecast period. For instance, according to the American College of Cardiology Foundation with not sufficient clinicians available to satisfy the requirements of an ever-growing patient population, the cardiology specialty domain is on the cusp of a concern. Similarly, according to the European Society of Cardiology in high-income nations, the median number of cardiologists per million inhabitants was 99.0 compared with 61.1 in middle-income nations. 

Further, according to the Cardiologists Society of India (CSI), there are merely 5500 cardiologists in the country with a population of 1.3 billion, and there is only one cardiologist for the 30, 000 inhabitants in the nation. Again, according to a recent investigation from the Association of American Medical Colleges (AAMC), by 2034, the nation is predicted to be lacking anywhere from 37,000 to 124,000 medics. This contains a deficit of 17,000 to 48,000 primary care doctors and 3,000 to 13,000 experts, a category that encloses cardiologists.

Peripheral Vascular Devices Market Segment Analysis

The global peripheral artery disease device market is segmented based on type, device type, end-user and region.

Stent Device Type Expected to Dominate Market

Owing to the increase in the number of product approvals and favorable research outcomes the stents segment will hold the majority of the global market share. For instance, in March 2022, Cordis, a multinational cardiovascular technology corporation, obtained the United States Food and Drug Administration (FDA) clearance for the S.M.A.R.T. RADIANZ Vascular Stent System, a self-expanding stent particularly developed for radial peripheral operations. The RADIANZ Radial Peripheral System is complemented by the recently authorized vascular stent system, BRITE TIP RADIANZ Guiding Sheath, and SABERX RADIANZ PTA Catheter. 

Moreover, in October 2021, Boston Scientific Corporation demonstrated promising clinical trial outcomes for the Eluvia Drug-Eluting Vascular Stent System in a clinical trial presentation at the Vascular InterVentional Advances (VIVA) meeting in Las Vegas. The Eluvia stent exceeded self-expanding bare metal stents (BMS) for the therapy of patients with peripheral arterial disease (PAD) and superficial femoral artery (SFA) lesions up to 210 mm in length.

Global Peripheral Vascular Devices Market Geographical Share

Increasing Market Developments in North America

Owing to the presence of key market players in North America holding the majority of the global market share through distinct market tactics. For instance, in September 2021, Abbott, a US-based multinational corporation acquired Walk Vascular, LLC, a medical device corporation with a minimally intrusive mechanical aspiration thrombectomy system developed to remove peripheral blood clots. Walk Vascular's peripheral thrombectomy system is expected to be incorporated into Abbott's existing endovascular product portfolio. The partnership promoted Abbott to expand the scope of its peripheral vascular services. 

Likewise, in June 2022, Cardio Flow, Inc., a medical device corporation and manufacturer of minimally invasive peripheral vascular devices for the treatment of peripheral artery disease (PAD), obtained United States Food and Drug Administration (FDA) authorization for the organization’s FreedomFlow Peripheral Guidewire. 

Similarly, in January 2022, Cook Medical, a US-based corporation obtained breakthrough device designation from the United States Food and Drug Administration (FDA) on a new drug-eluting stent for below the knee (BTK). This novel stent is suggested for the treatment of individuals with limb-threatening persistent ischemia.

COVID-19 Impact Analysis

The COVID-19 pandemic had deep effects on cardio-pulmonary health and healthcare delivery. Direct effects enclosed information on myopericarditis jointly with highly regular information on pneumonia and pulmonary fibrosis, periodically advancing to respiratory collapse and demise. Additionally unpredictable, nevertheless, were the indirect effects of the pandemic on CV examinations and hospital admissions which have repeatedly demonstrated varying drops. 

While there has been no indication of actual declines in the preponderance of CVD or the incidence of acute coronary syndromes, these reductions have extended considerations that the pandemic has directed to general under-investigation and under-treatment of many individuals. 

Indeed, reports from respective nations suggest substantial declines in investigative procedures for heart failure and coronary and electrophysiological conditions in 2020 corresponded with 2019. Declines in hospital admissions for a degree of CV conditions, including ST-elevation myocardial infarction, have even been registered in the same period.

Russia-Ukraine Impact

The war in Ukraine has caused staggering casualties, an exceptional refugee situation, and devastation of infrastructure including infirmaries and basic needs reserves depletion. The war has even damaged the delivery of medical care. Considerable provincial medical bases have individually documented thousands of trauma case entries from February 2022. The scarcity of dependable air transportation leaves the logistics for health care significantly difficult.

Extreme disturbances to multinational markets generated by Russia’s war on Ukraine have revealed susceptibilities to the safety of the supply of raw materials necessary for industrial production. These supply chain exposures are the consequences of export restrictions, bilateral dependences, a deficiency of clarity, and constant market asymmetries, including the engagement of production in only a few nations. For nations influenced by supply chain susceptibilities, there are possibilities to diversify sourcing via extended production and accessing comprehended critical raw materials resources.

Key Developments

• In June 2023, Surmodics, Inc., a top provider of medical devices and in vitro diagnostic technologies to the healthcare enterprise, obtained U.S. Food and Drug Administration (FDA) clearance for the SurVeil drug-coated balloon (DCB).
• In June 2023, Endologix lately received FDA authorization for its Detour system to treat long, complex superficial femoropopliteal lesions. the corporation administrators describe the Detour system as a breakthrough in the therapy of peripheral arterial disease (PAD).
• In February 2023, Abbott entered into a decisive arrangement to acquire Cardiovascular Systems Inc. (CSI), a Minnesota-based healthcare technology corporation concentrated on treating peripheral artery disease (PAD) and coronary artery disease (CAD). The agreement is worth around $890 million.

Peripheral Vascular Devices Market Companies

The major global players in the market include Abbott Laboratories, Boston Scientific Corporation, Becton, Dickinson and Company, Cook, Cordis Corporation, Edward Lifesciences, MicroPort, Terumo Corporation, Medtronic, and Volcano Corporation among others.

Why Purchase the Report?

• To visualize the global peripheral artery disease device market segmentation based on type, device type, end-user, and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of peripheral artery disease device market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key product of all the major players.

The global peripheral artery disease device market report would provide approximately 61 tables, 62 figures and 186 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies