Peripheral Vascular Devices Market Size, Share, Growth & Forecast (2024-2032)

Description

Peripheral Vascular Devices Market Synopsis:

Peripheral Vascular Devices Market Size Was Valued at USD 4.8 Billion in 2023, and is Projected to Reach USD 9.3 Billion by 2032, Growing at a CAGR of 6.4% From 2024-2032.

The Peripheral Vascular Devices Market means the market that encompasses various medical devices which are employed for diagnosing, treating and managing the vascular disorders affecting the peripheral arteries and veins excluding CNS and cardiovascular systems. These devices are intended for treatment of specific peripheral vascular disorders including peripheral artery disease, varicose veins, chronic venous insufficiency. Peripheral vascular devices include fixed metal stents, angioplasty balloons, catheters, embolism protection devices and a host of other peripheral vascular products. Percutaneous devices are applied in micro-invasive operations such as angioplasty, stent implantation, and creating dialysis access for patients who need it; those interventions contribute a great deal to patients’ accelerated recovery and relief from adverse effects. …the drivers are the increasing rates of vascular diseases because of aging population, life style risks including smoking and diabetes, and demands for less invasive procedures. However, factors such as technological enhancements in device materials, biodegradable stents and drug coating of devices, are acting as other drivers for the market. Some factors that the market is backed up by include increased access to health care in developing regions the world over as well as improved awareness on proper care of ones vascular system.

The market for Peripheral Vascular Devices is growing at a fast pace due to the rising rate of peripheral vascular diseases like peripheral artery disease, varicose vein and chronic venous insufficiently. Due to increased population worldwide, ageing, and lifestyle diseases like diabetes, hypertension, and obesity, all these diseases are on the rise and therefore this boosts the need for intervention. Peripheral vascular products include stents used to open the blocked arteries, angioplasty balloons used to open blocked vessels, catheters, and embolism protection devices that help to manage blood flow in the peripheral arteries and veins. These devices make it possible to perform certain operations with significantly less invasiveness than was previously possible, while invasiveness is one of the key factors which the modern practices avoid. In addition, new technology in the future prevalent devices including drug-eluting stents, and the absorbable metal stents market is likely to have better outcomes in the patients less likely to need invasive procedures in the long run thus driving the market.

Regionally, North America continues to lead the market due to improved healthcare facilities, higher acceptance of innovative health care technology, and increased concern for blood vessels. The market of Europe is also growing trend continuously due to increasing geriatric population and increasing HC volume in German, UK, and France. However, the Asia-Pacific region is expected to experience the highest growth due to the enhancement of the health care sector, increasing consciousness and the increasing incidence of vascular measured diseases. Currently, companies from the Asia-Pacific region, including China, India, and Japan, will continue to attract investors due to the growing government concern toward the development of better healthcare infrastructure and more refined diagnostic facilities together with peripheral vascular devices market. Further, the Latin America and Middle East and Africa is an attractive region as it is an emerging market with increasing demand for vascular devices due to enhancement of healthcare infrastructure, increasing awareness and development of the same.

Peripheral Vascular Devices Market Trend Analysis:

Increasing Preference for Outpatient Vascular Treatments in Ambulatory Surgical Centers

A rising demand for vascular treatments in Ambulatory Surgical Centers (ASCs) is one of the trends that impact the Peripheral Vascular Devices Market. ASCs are gradually emerging as the preferred centres for vascular procedures because they provide quality treatments at lower cost and reduced LOS while delivering value added services to patients. Laparoscopic surgeries, permeant angioplasty, permanent stent placements, minor surgeries like varicose vein treatments are examples of procedures that can be performed in an ASC due to patients being able to be discharged the same day. This trend is especially appealing to such providers in their bid to slice operational costs and maximize the management of patients. In addition, patients want ASCs because they are a better option than traditional already-mentioned hospital-based options and are a major reason behind the growing backlog of outpatient vascular interventions.

The movement towards ASCs also has been aided by increases in technology of medical devices and however; vascular intercessions can be effectively and safely undertaken using modern equipment outside a hospital setting. As new alternative peripheral vascular technologies, including drug eluting stents, angioplasty balloons and peripheral catheters become available and recoveries decline, these centers are able to deliver high quality treatments with minimal risk of adverse events and aftercare. Such relocation of treatment is expected to increase further in the future since healthcare systems worldwide are seeking to transform toward affordable, patient-centric care delivery models to support the development of ASCs for many vascular treatments. In the same breath, a rapidly advancing network of healthcare institutions in developing countries and enhanced number of specialized centers will continue to feed this trend in future years as well.

Rising Prevalence of Peripheral Artery Disease (PAD)

In this context, the increasing incidence rate of PAD is one of the promising areas for development of the Peripheral Vascular Devices Market. PAD can be defined as a medical condition where arteries which supply blood to the limbs become constricted or blocked, a situation often resulting from plaque formation (atherosclerosis). It is estimated with the growing old age populations around the world, and by the rise in risk factors which include diabetes, hypertension, smoking, and sedentary life styles, the prevalence of PAD is bound to increase remarkably. PAD is prevalent in over 10 million people across the globe and rises in elderly people, having an inferior quality of life and even worse; people suffering from this condition are at risk of amputation if not timely treated. And with PAD awareness and more patient seeking early diagnosis and treatment, the need for peripheral vascular devices like stents, angioplasty balloon and catheters is expected to rise.

Because the number of patient diagnosed with PAD is growing, the need to intervene and restore blood flow as well as prevent complications is paramount. Angioplasty and stenting for the treatment of PAD are now performed more frequently than surgical revascularization. It also means that the market for peripheral vascular devices has great potential for growth because these devices are widely used to treat PAD by dilating blocked arteries and restoring blood flow. In addition, there will be continued rise in the diagnosis and preventive strategies for PAD which shall in turn lead to an higher demand for diagnosticre and therapeutic products. These trends offer a good chance for companies in the peripheral vascular device market to diversify and develop new products and services that may meet the needs of an ever-growing PAD population.

Peripheral Vascular Devices Market Segment Analysis:

Peripheral Vascular Devices Market is Segmented on the basis of Type, Application, End User, and Region.

By Type, Peripheral Stents segment is expected to dominate the market during the forecast period

Peripheral Stents segment from the Peripheral Vascular Devices Market is estimated to account for the largest market share during the forecast period. Peripheral stents are interventional tools employed in the treatment of diseases affecting the peripheral arteries, particularly due to PAD. These stents are intended to keep the arteries open and provide blood circulation and minimise the danger of such outcomes as amputation of the limbs or tissue death as an outcome of poor blood circulation. Importantly, Peripheral stents are being driven by the growth in PAD cases occasioned by ageing demography, undesirable lifestyle factors such as smoking, high calorie diets, and sedentary lifestyle, and rising cases of diabetes and hypertension.

The increased demand for the least invasive options like angioplasty and stenting is also contributing to the fact that the market for peripheral stents segment will continue to reign. Stenting procedures involve using a catheter and have a shorter recovery time than traditional surgical techniques, few complications, and shorter length of hospital stay. Furthermore, enhancements in the drug-eluting stents, which discharges medicine that declines the prevalence of restenosis are likely to augment the segment’s development in the near future. Due to the increasing focus areas of healthcare systems and patients towards efficiency and minimally invasive procedures, Peripheral Stents segment is expected to retain its market leadership during the forecast period across the world.

By Application, Peripheral Artery Disease (PAD segment expected to held the largest share

PAD forms the largest segment of the Peripheral Vascular Devices Market due to increased incidence of this diseases across the world during the forecast period. PAD is one of the most prevalent forms of the vascular diseases affecting mostly the elderly and those in the patient population who are diabetic, hypertensive, smokers and hyperlipidemic. The justified estimate of the incidence of PAD is associated with a steady increase due to the aging of the global population and the constantly increasing rates of lifestyle-related diseases. PAD constricts the peripheral arteries normally in the legs and turn them into stiff pipes which forbids sufficient blood circulation to the limbs, they develop cramps, numbness and the final stage having one’s legs chopped of. It should therefore beeamarked that early diagnosis and management are inevitable steps that would contribute to the overall quality of the life of thepatient with PAD as well as reduce the serious consequences of peripheral vascular diseases and this would require stents, angioplasty balloons and catheters to enhance the blood flow.

This is because the global market for PAD treatment is being driven by the rising need for endovascular procedures as an optimised solution to managing the illness. Compared to more conventional invasive operations such as coronary artery bypass grafting, methods like angioplasty and stenting are more satisfactory, cause less suffering and time for recuperation, and lead to patients’ sooner discharge from the health-care facility, facts which have made these more popular among patients as well as health-care workers. Technological refinements in the use of drug eluting stents and bioresorbable vascular scaffolds has enhanced patient survival, both as a stand alone therapy and in combination with atherectomy de-bulking, making them a keystone in the treatment of PAD. Furthermore, as healthcare organizations move their focus towards greater patient centric and outpatient process, the need for equipment that allows smaller, faster procedures only increases. Consequently, Peripherally inserted arteriovenous device or PAD will continue to be the major application segment of the Peripheral Vascular Devices Market and contribute to considerable growth in the forecast period.

Peripheral Vascular Devices Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

North America will continue to lead the Peripheral Vascular Devices Market in the coming years because of the region’s well-established medical facilities, increasing rate of peripheral vascular diseases, and a preference for enhanced endovascular techniques. First of all, the population in the United States is rather aging; this category in particular, is more susceptible to such disorders as PAD, varicose veins, and certain other conditions of vascular origin. Moreover, high prevalence of diabetes, hypertension and obesity that are main risk factors for PAD help to fuel up the population need of peripheral vascular devices. The region also has strong and widely developed healthcare networks, effective use of highly specialized equipment, and increased investments in research and development of promising methods for vascular interventions.

North America has been a favored area of localization for many manufacturers of peripheral vascular devices, especially in the U.S and Canada. The mentioned manufacturers are always researching and developing device technology such as drug-eluting stents, bioresorbable scaffolds, and sophisticated angioplasty balloons, for better treatment results and minimum complications. Besides, the approval from body like the FDA increases the pace at which new products are launched into the market thereby increasing growth. The availability of many vascular centers, ASCs, and hospitals offering minimally invasive vascular procedures has supported the use of peripheral vascular devices. Thus, along with shifting emphasis towards positives healthcare outcomes, extending healthcare reaches for early and less invasive diagnostics and treatments, North America is expected to dominate the Peripheral Vascular Devices Market during the predicted time of 2017-2023.

Active Key Players in the Peripheral Vascular Devices Market:

Abbott Laboratories (USA)

Asahi Intecc (Japan)

B. Braun Melsungen AG (Germany)

Biotronik (Germany)

Boston Scientific (USA)

Cardinal Health (USA)

Conformis, Inc. (USA)

Cook Medical (USA)

Endologix, Inc. (USA)

Johnson & Johnson (USA)

Lepu Medical Technology (China)

Medico’s Hirata, Inc. (Japan)

Medtronic (Ireland)

Philips Healthcare (Netherlands)

Royal Philips (Netherlands)

Stryker Corporation (USA)

Terumo Corporation (Japan)

W. L. Gore & Associates (USA)

Other Active Players