Peripheral Vascular Devices Industry Overview
The global peripheral vascular devices market is forecasted to witness robust growth over the forecast period, driven by increasing prevalence of peripheral vascular diseases such as peripheral arterial disease and diabetic foot ulcers. Increasing geriatric population, rising prevalence of diabetes and hypertension, and growing demand for minimally invasive procedures are some of the key factors driving market growth.
Market Outlook
According to the new market research report "Peripheral Vascular Devices Market by Type (Angioplasty Balloon & Stent, Catheters, Endovascular Aneurysm Repair Stent Grafts, Plaque Modification Devices, Guidewires, Vascular Closure Devices, Balloon Inflation Devices) - Global Forecast to 2026", published by MarketsandMarkets™, the global market is projected to reach USD 13.4 billion by 2026 from USD 10.3 billion in 2021, at a CAGR of 5.3% from 2021 to 2026.
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Key Market Players
The major players in the peripheral vascular devices market Medtronic (Ireland), Boston Scientific Corporation (US), Abbott (US), Becton, Dickinson and Company (US), Terumo Corporation (Japan), Cardinal Health (US), B. Braun Melsungen AG (US), Merit Medical Systems (US), Penumbra, Inc.(US), Koninklijke Philips N.V.( Netherlands), iVascular S.L.U (Spain), Biosensors International Group Ltd. (Singapore), BIOTRONIK (Germany), AMG International GmbH (US), ENDOCOR GmbH (Germany).
Regional Analysis
North America dominates the global peripheral vascular devices market.
The peripheral vascular devices market is segmented into four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. In 2021, North America accounted for the largest share of the market. The large share of North America can be attributed to the growth in the geriatric population and the high prevalence of peripheral vascular diseases. Furthermore, the presence of key market players in this region ensures high access to medical devices
The global peripheral vascular devices market is expected to witness significant growth over the forecast period, driven by growing prevalence of peripheral vascular diseases, increasing demand for minimally invasive procedures, and rising geriatric population. Key players in the market are focusing on developing innovative products, launching new products, and expanding their product portfolios in order to gain a competitive advantage in the market.
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Recent Developments:
- Medtronic received the US FDA approval for its IN. PACT AV drug-coated balloon (DCB) to treat arteriovenous fistula lesions
- Boston Scientific Corporation received the FDA Approval for its VICI VENOUS STENT System for treating patients with deep venous blockages.
Frequently Asked Questions (FAQ):
- What is the projected market value of the global peripheral vascular devices market?
- What is the estimated growth rate (CAGR) of the global peripheral vascular devices market for the next five years?
- Who are the major players offering peripheral vascular devices in the market?
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