The new report by Expert Market Research titled, ‘Global Peripheral Artery Disease Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the Global Peripheral Artery Disease market, assessing the market based on its segments like application, end user, and major regions like North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Peripheral Artery Disease Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 3.82 billion
• Forecast CAGR (2023-2028): 8.5 %
• Forecast Market Size (2027): USD 5.26 billion
Asia Pacific is expected to have a substantial market share during the forecast period. A variety of factors are propelling the Asia Pacific peripheral artery disease sector forward. One of the major concerns is the large number of people who have untreated medical conditions like obesity, diabetes, and high blood pressure, which may increase the risk of peripheral artery disease.
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Furthermore, the region’s healthcare infrastructure has been growing faster than the GDP, which is expected to boost market growth during the forecast period. Furthermore, there have been some significant developments among the market’s major companies, which has increased global competition. In November 2020, Cardinal Health signed an agreement with the Centers for Disease Control and Prevention to serve as the official “network administrator” in phase 2 of the federal pharmacy partnership strategy for COVID-19. This collaboration is expected to broaden the company’s consumer base and, as a result, propel the peripheral artery disease market forward.
Peripheral Artery Disease Market Segmentation
Peripheral artery disease is a medical term that describes the constriction of arteries in the human body, which lowers blood flow to the lower body, including the legs. As a result, the oxygen and blood levels in the lower body drop below the required level, causing walking pain. Peripheral artery disease can potentially be a symptom of arterial blockage or congestion. This is normally addressed with a change in lifestyle, frequent exercise, and the discontinuation of all tobacco use.
Based on the major types, the market is divided into:
• Peripheral Angioplasty Balloons
• Peripheral Stents
• Peripheral Catheters
• Inferior Vena Cava (IVC) Filters
• Plaque Modification Devices
• Haemodynamic Flow Alteration Devices
• Peripheral Accessories
The regional markets for include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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Peripheral Artery Disease Market Trends
The expanding health infrastructure has raised the use of interventional devices such as drug-eluting agents, atherectomy devices, and others, driving market expansion. Atherectomy is a procedure that uses a catheter to remove plaque from arteries, and its use in treating peripheral arterial disorders (PADs) has grown significantly.
Furthermore, the demand for non-invasive or minimally invasive endovascular procedures has lately surged due to their faster recovery time and lower risk of post-surgery problems. Furthermore, the population’s unhealthy lifestyle, combined with increased intake of alcohol, tobacco, and smoking, may lead to an increase in the number of cardiac arrests, blood clotting, and other heart disorders in the coming years, increasing the need for PAD therapy.
The global aging population is expected to increase vulnerability to peripheral artery disorders in the future. Although the number of people aged 60 and up is expected to double by 2050, the number of people aged 80 and up is expected to triple between 2020 and 2050, according to WHO research published in October 2021. Aging is definitely related to an increase in the prevalence of medical disorders such as diabetes, high blood pressure, and heart disease, among others.
This factor is expected to boost the peripheral artery disease market during the forecast period. Furthermore, mergers and acquisitions among the major market players have occurred, which are expected to play a significant role in market growth.
Key Market Players
The major players in the market are AngioDynamics Inc., B. Braun Melsungen AG, Biotronik Inc., Boston Scientific Corp., are among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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