New York, USA, April 05, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global vascular disease devices market is anticipated to garner $22,610.3 million in revenue and rise at a noteworthy CAGR of 6.9% over the estimated timeframe from 2021 to 2028.
As per our analysts, with the rising incidence of atherosclerosis among individuals worldwide, the market is projected to experience striking growth during the forecast period. Besides, the increasing number of myocardial infarctions cases among people aged 45 years and above due to plaque ruptures, is further expected to upsurge the growth of the vascular disease devices market over the analysis period. In addition, the growing prevalence of peripheral artery disorders among millennials because of unhealthy dietary habits, smoking, and changing patterns of lifestyles are the factors expected to create massive investment opportunities for the market over the estimated period. However, the high setup cost for vascular disease devices may hinder the growth of the market throughout the analysis period.
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Segments of the Market
The report has been divided the vascular disease devices market into segments based on product, end-user, and region.
Product: Stents Sub-Segment to be Most Productive
The stents sub-segment is estimated to generate a revenue of $6,715.3 million during the forecast period. This is mainly because stents assist arteries to hold the open structure and allow normal blood flow. In addition, the greater accuracy level and reliability of stents are the major factors expected to bolster the growth of the vascular disease devices market sub-segment during the estimated timeframe.
End-User: Hospitals & Cardiac Centers Sub-Segment to be Most Lucrative
The hospitals & cardiac centers sub-segment is predicted to garner $14,244.5 million in revenue over the analysis timeframe. This is mainly due to the increasing number of people opting for hospitals and cardiac centers for their treatments and surgeries. Furthermore, the hospitals and cardiac centers are offering advanced devices and skilled doctors for the better treatment of the patients, which is the factor expected to propel the growth of the market sub-segment during the forecast period.
Region: North America Region to Have the Largest Share of the Market
The North America region of the vascular disease devices market is expected to generate a revenue of $8,727.6 million during the analysis timeframe. This is mainly due to the strong existence of leading market players in this region. Moreover, the increasing prevalence of cardiovascular diseases and peripheral artery disorders among millennials is predicted to drive the growth of the market throughout the estimated period.
Covid-19 Impact on the Market
The outbreak of the Covid-19 pandemic has had a negative impact on the growth of the vascular disease devices market, likewise, various other industries. Because of the strict lockdowns worldwide, there was an interruption in the manufacturing capacity of the vascular disease devices and many surgeries got postponed due to the government regulations on performing only emergency surgeries to control the spread of the deadly virus. All these factors have declined the growth of the market during the period of crisis.
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Key Players of the Market
The major players of the vascular disease devices market include
- Boston Scientific Corporation
- B. Braun Melsungen Ag
- Terumo Corporation
- Becton
- Dickinson and Company
- Cordis
- Abbott Laboratories
- Ivascular
- Medtronic
- Venus Medtech
- Merit Medical, and many more.
These players are working on the development of new business strategies and tactics such as product development, mergers, and acquisitions, partnerships, and collaborations to procure the leading positions in the global industry. – Inquire and Get Quick Access to the Business Development Strategy Report
For instance, in February 2022, Cardiovascular Systems, Inc., a leading United States-based medical device manufacturing company, has announced its collaboration with Innova Vascular, Inc., a renowned Irvine-based medical device company mainly focusing on the development of innovative minimally invasive solutions. With this collaboration, the companies are aiming to develop new thrombectomy devices which will be useful for the treatment of various peripheral vascular diseases such as pulmonary embolism (PE), deep vein thrombosis (DVT), and many more.
Further, the report also presents various other crucial aspects including SWOT analysis, the financial performance of the key players, product portfolio, and the latest strategic developments.
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- The Global Vascular Disease Devices Market Anticipated To Generate A Revenue Of $22,610.3 Million, Growing At A CAGR Of 6.9% From 2021 To 2028
