Global Peripheral Vascular Devices Market Report

Global Peripheral Vascular Devices Market, By Device-Type (Angioplasty Balloons, Angioplasty Stents, Catheters, Evar Stents Grafts, Inferior Vena Cava Filters, Plaque Modification Devices, Hemodynamic Flow Alteration Devices, and Other Peripheral Vascular Devices), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: July 2021
  • Report ID: BWC21406
  • Available Format: PDF
  • Page: 141

Report Overview

Peripheral Vascular Disease (PVD) is a medical illness in which the blood arteries become narrower, reducing the adequate flow of blood in the body. Except for the heart and brain vessels, peripheral vascular illnesses induce blockage or constriction of blood veins in the neck, arms, legs, or stomach.

Global Peripheral Vascular Devices Market- Industry Trends & Forecast Report 2027

The global peripheral vascular devices market was worth USD 8.5 billion in 2020 and is further projected to reach USD 13.9 billion by the year 2027, growing at the CAGR of 7.5% during the forecast period (2021-2027). The rising prevalence of peripheral vascular disease, combined with the growing geriatric population, is driving up the demand for peripheral vascular devices. Furthermore, with the introduction of a number of improved products with broader applicability and an increase in diabetes patients across the globe, the market is expected to thrive during the forecast period.

                

Source: BlueWeave Consulting

Global Peripheral Vascular Devices Market- Overview

Peripheral Vascular Disease (PVD) is a medical illness in which the blood arteries become narrower, reducing the adequate flow of blood in the body. Except for the heart and brain vessels, peripheral vascular illnesses induce blockage or constriction of blood veins in the neck, arms, legs, or stomach. The blockage or limited blood supply in peripheral vessels raises the risk of stroke or heart attacks and, if ignored, can result in amputations. The treatment of peripheral vascular diseases calls for surgical procedures that are carried out using peripheral vascular devices. Plague modification devices, EVAR stent-grafts, angiography balloons, angioplasty catheters, IVC filters, etc., are some of the most commonly used peripheral vascular devices during a medical procedure.

Global Peripheral Vascular Devices Market Forecast and Trends

Growth Drivers

Rising Geriatric Population and Increasing Prevalence of Peripheral Vascular Diseases

The surge in the geriatric population due to improved life expectancy and better medical facilities has been a significant factor in the growth of the global peripheral vascular devices market. The older population is at a higher risk of developing peripheral vascular disorders, such as atherosclerosis and aneurysms. Furthermore, the prevalence of PVDs is increasing even among the younger population as a result of changing lifestyles and a lack of proper physical activity. As a result, the demand for surgeries is expanding, thereby propelling the growth of the global peripheral vascular devices market.

Development of Healthcare Infrastructure in Emerging Economies

With the development of healthcare infrastructure, the number of hospitals and other healthcare facilities is increasing. Also, the diagnosis of people will increase in the coming years and the accessibility of the patients suffering from peripheral vascular surgeries for the treatment will improve. This will help in fueling the demand for peripheral vascular devices as more and more patients are approaching hospitals for receiving surgeries. Furthermore, as minimally invasive surgeries gain popularity and people become more aware of them, the need for such peripheral vascular devices is witnessing an increasing demand.

Restraints

High Cost of the Peripheral Vascular Surgeries

Despite the fact that the geriatric population is growing, which is increasing the number of patients with peripheral vascular disease, surgery is still not available to everyone. According to the American Association for Vascular Surgery, the average cost of a patient's hospitalization for peripheral vascular surgery is roughly USD 27,000, which is quite expensive for a low-income patient. Therefore, many people with PVDs are hesitant to undergo surgery because of the hefty cost, which is stifling the growth of the global market.

Additionally, stringent regulatory procedures, equipment malfunctions, and recalls performances all impede the growth of the peripheral vascular devices market worldwide.

Impact of Covid-19 on Global Peripheral Vascular Devices Market

The Covid-19-induced pandemic has had a negative impact on the global peripheral vascular devices market. Because healthcare institutions are one of the most dangerous places for the virus to spread, patients deliberately avoided going to hospitals for the fear of being infected. For conducting medical procedures, such as surgeries, a patient has to undergo several clinical tests. However, in light of Covid-19, all elective and non-emergency procedures were postponed, resulting in a significant drop in demand for peripheral vascular devices. Furthermore, distribution and supply networks were halted, affecting the overall market growth.

Global Peripheral Vascular Devices Market - By Device-Type

Based on device types, the global peripheral vascular devices market is categorized into angioplasty balloons, angioplasty stents, catheters, stents grafts, inferior vena cava filters, plaque modification devices, hemodynamic flow alteration devices, and other peripheral vascular devices. Among these, the stents segment dominates the market. Stents are said to be one of the most commonly used devices for the treatment of vascular diseases. The launch of innovative products in this segment such as bioabsorbable stents or others made up of advanced material are contributing significantly towards the growth of the stents market.

Global Peripheral Vascular Devices Market - Regional Insights

Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among all the regions, North America has the largest market share in both production and demand for peripheral vascular devices due to the rising adoption of minimally invasive surgeries, along with the increasing awareness of patients and the ever-growing healthcare expenditure in this region. These factors have enabled North America to maintain its dominance in the global peripheral vascular devices market. The Asia-Pacific region, on the other hand, is expected to emerge as a promising market in the forecast period as a result of the development of healthcare infrastructure and an increase in the number of patients affected by Peripheral Vascular Disease.

Regional Insights

Source: BlueWeave Consulting

Competitive Landscape

The leading players in the global peripheral vascular devices market are Edward Lifesciences Corporation, Medtronic Inc., Abbott Laboratories, Jude Medical, Angioscore Inc., Teleflex Medical, Cook Group Inc., Cordis Corporation, Volcano Corporation, C.R.Bard, Terumo Corporation, Biosensors International Group, iVascular, Cardinal Health, Becton, Dickinson, and Company and other prominent players. The market is consolidated, with the largest industry participants controlling the majority of market share, resulting in intense competition. To keep ahead of the competition, the market players are consistently focusing on producing innovative products.

Recent Developments

l  In April 2021, Endologix, a US-based medical device company, announced to have completed their acquisition of the PQ Bypass, Inc. which was a privately held medical technology company. Through this acquisition, Endologix aims to offer and expand innovative vascular devices and technologies, along with excelling in research and education in the field as well.

l  In April 2021, Soundbite, a Canada-based medical devices company announced that they received the FDA approval for the Soundbite crossing system - Peripheral (SCS-P). The SCS-P is a tool that will help with the placement of guidewires or treatment devices during medical procedures.

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Million

Market Coverage

North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa

Product Service/Segmentation

By Device-type, By Region

Key Players

Edward Lifesciences Corporation, Medtronic Inc., Abbott Laboratories, Jude Medical, Angioscore Inc., Teleflex Medical, Cook Group Inc., Cordis Corporation, Volcano Corporation, Boston Scientific Corporation, Endologix, Bayer, Terumo Interventional Systems Inc., C.R.Bard, Terumo Corporation, Biosensors International Group, iVascular, Cardinal Health, Becton, Dickinson, and Company and other prominent players.

By Type

Ø  Angioplasty Balloons

Old/Normal Balloons

Drug-Eluting Balloons

Cutting And Scoring Balloons

Ø  Angioplasty Stents

Drug-Eluting Stents

Bare-Metal Stents

Ø  Catheters

Angiography Catheters

Guiding Catheters

IVUS/OCT Catheters

Ø  Evar Stents Grafts

Abdominal Aortic Aneurysm Stent Grafts

Thoracic Aortic Aneurysm Stent Grafts

Ø  Inferior Vena Cava Filters

Retrievable Filters

Permanent Filters

Ø  Plaque Modification Devices

Atherectomy Devices

Thrombectomy Devices

Ø  Hemodynamic Flow Alteration Devices

Embolic Protection Devices

Chronic Total Occlusion (Cto) Devices

Ø  Other Peripheral Vascular Devices

Guidewires

Vascular Closure Devices

Introducer Sheaths

Balloon Inflation Devices

By Region

Ø  North America

Ø  Europe

Ø  Asia-Pacific (APAC)

Ø  Latin America (LATAM)

Ø  Middle-East & Africa (MEA)

FAQs:

1. What is the current size of the global peripheral vascular devices market?

Answer: The global peripheral vascular devices market reached USD 8.5 billion in 2020.

2. What are the major factors driving the growth of the global peripheral vascular devices market?

Answer: The major factors driving the growth of the global peripheral vascular devices market are rising geriatric population and increasing prevalence of peripheral vascular diseases and development of healthcare infrastructure in emerging economies

3. Who are the key players in the global peripheral vascular devices market?

Answer: The key players in the global peripheral vascular devices market are Edward Lifesciences Corporation, Medtronic Inc., Abbott Laboratories, Jude Medical, Angioscore Inc., Teleflex Medical, Cook Group Inc., Cordis Corporation, Volcano Corporation, Boston Scientific Corporation, Endologix, Bayer, Terumo Interventional Systems Inc., C.R.Bard, Terumo Corporation, Biosensors International Group, iVascular, Cardinal Health, Becton, Dickinson and Company and other prominent players

4. Which device-type segment accounted for the largest share in the global peripheral vascular devices market?

Answer: The stents segment accounted for the largest share in the global peripheral vascular devices market.

5. Which region is at the highest growth rate in the global peripheral vascular devices market?

Answer: North America has the largest share in the global peripheral vascular devices market.