The compound annual growth rate (CAGR) of the global peripheral vascular devices market will be more than 7 % during the forecast period from 2022 to 2030.
The rising demand for the P.V.D. devices can be seen due to increasing numbers of cases of peripheral vascular disease and growing numbers of geriatric population. Not to mention, the number of improved products being introduced as well as an increasing number of diabetic patients across the world are also likely to contribute to the growth of the market during the forecasted period.
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PVD (or Peripheral Vascular Disease) is a medical condition where blood arteries become narrow. It results in a reduction of adequate blood flow in the human body. Apart from heart and brain vessels, PVD also affects and can cause constrictions or blockages in the veins of body parts such as the neck, arms, legs, and stomach.
According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Factors affecting the Peripheral Vascular Devices Market
- The rising number of the geriatric population is due to higher and improved life expectancy and an increase in cases of PVDs in the younger population.
- Improvement in healthcare infrastructure has resulted in an increasing number of hospitals as well as accessing healthcare facilities will also contribute toan increase in demand.
- According to American Association for Vascular Surgery, the average costof a peripheral vascular device is around USD 27,000. Such an amount is very high for patients with low income. In addition,recall performance, stringent regulations, and equipment malfunction issues hold back the growth of peripheral vascular devices.
Impact of COVID-19 pandemic
The pandemic induced by Covid-19 has negatively impacted the global market of peripheral vascular devices. Due to the increased risk of spreading viruses in hospitals, many patients avoided going to the hospitals for fear of getting infected. Medical procedures such as surgeries requires the patient to go through several clinical tests. In the wake of the Covid-19 pandemic, all elective surgeries and non-emergencies terminated, resulted in a drop in demand for peripheral vascular devices. In addition, the network of distribution and supply has slowed, influencing the overall global market growth.
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Regional Insights
The leading market share in both manufacturing and demand for peripheral vascular devices is recorded in North America, mainly due to increased awareness among patients, increasing expenditures in health care infrastructure, and the popularity of minimally invasive procedures. During the forecasted years, the Asia-Pacific region is forecast to emerge as a prominent market due to improved healthcare infrastructure and increasing patient numbers.
Key players in the global peripheral vascular devices market
- Edward Lifesciences Corporation (United States)
- B. Braun Melsungen (Germany)
- Abbott Laboratories (United States)
- Angioscore Inc. (United States)
- Teleflex Medical (United States)
- Cook Group Inc. (United States)
- Volcano Corporation (United States)
- Boston Scientific Corporation (United States)
- Endologix (United States)
- Terumo Corporation (Japan)
- BIOTRONIK SE & Co. KG (Germany)
- iVascular (Europe)
- Cardinal Health (United States)
- Becton, Dickinson, and Company (United States)
- Other prominent players
Segment Analysis
By Type
- Angioplasty Balloons
- Old/Normal Balloons
- Drug-Eluting Balloons
- Cutting And Scoring Balloons
- Angioplasty Stents
- Drug-Eluting Stents
- Bare-Metal Stents
- Catheters
- Angiography Catheters
- Guiding Catheters
- IVUS/OCT Catheters
- Evar Stents Grafts
- Abdominal Aortic Aneurysm Stent Grafts
- Thoracic Aortic Aneurysm Stent Grafts
- Inferior Vena Cava Filters
- Retrievable Filters
- Permanent Filters
- Plaque Modification Devices
- Atherectomy Devices
- Thrombectomy Devices
- Hemodynamic Flow Alteration Devices
- Embolic Protection Devices
- Chronic Total Occlusion (CTO) Devices
- Other Peripheral Vascular Devices
- Guidewires
- Vascular Closure Devices
- Introducer Sheaths
- Balloon Inflation Devices
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By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Aim of the Report
- This study aims to determine the market size of various segments and countries with forecast values for next ten years.
- Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry.
- It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market’s future growth.
- The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players’ products and the competitive landscape.
What is the goal of the report?
-The market report presents the estimated size of the Healthcare market at the end of the forecast -period.
-The report also examines historical and current market sizes.
-During the forecast period, the report analyzes the growth rate, market size, and market valuation.
-The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
-The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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