Dublin, Feb. 14, 2024 (GLOBE NEWSWIRE) -- The "Peripheral Vascular Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region" report has been added to ResearchAndMarkets.com's offering.
The global peripheral vascular devices market is on an upward trajectory, projected to propel it to a valuation of US$ 8.6 billion by the end of 2031. In 2024, the market is set to generate revenues of US$ 4.9 billion, with peripheral vascular stents accounting for a substantial portion.
Driving Factors and Market Expansion
A pivotal element bolstering market development is the increased volume of surgeries, paired with more accessible insurance reimbursements. Progress in outpatient methodologies for peripheral vascular interventions, especially noticeable in affluent economies, is a result of sweeping reforms in reimbursement strategies and targeted governmental support.
Challenges in the Peripheral Vascular Devices Market
The path to market supremacy is not without its hurdles. A pressing concern is the potential for product recalls, as these medical devices are subject to stringent regulatory scrutiny, especially when introducing cutting-edge technology.
Adverse health events associated with these tools are a considerable obstacle, as the market’s stability is occasionally shaken by recalls set into motion by authorities such as the FDA.
Regional Market Highlights
The United States maintains a formidable presence, making up the lion's share of North America's sector at 94.5%. Germany takes the limelight in Europe with its robust R&D initiatives and swift technology assimilation.
Furthermore, China's prominence in East Asia owes much to the country's demographic structure and disease prevalence, fostering a ripe environment for market penetration.
Competition and Key Market Players
The landscape is highly competitive, with industry giants pushing the envelope with innovation and strategic alliances to consolidate their market positions.
Abbott Laboratories. Boston Scientific Corporation, Medtronic and others, are among the key companies profiled in the study, with their market strategies and portfolios carefully examined.
Research Segmentation
The publication breaks down the market into detailed segments, enriching stakeholders' understanding across various levels, including:
- Peripheral Vascular Stents and Drug Eluting Balloons
- Target Artery Instability and Peripheral Arterial Disease
- End-users: Hospitals, Ambulatory Surgical Centers, and Cardiac Cath Labs
- Key Regions: North America, Europe, Asia-Pacific, and more
This segmentation captures a comprehensive view of the market, enabling tailored strategic decision-making for industry participants.
Companies Profiled
- Abbott Laboratories
- Boston Scientific Corporation
- Cook Medical Inc.
- MicroPort Scientific Corporation
- Medtronic Plc.
- Cardinal Health, Inc.
- B. Braun Melsungen AG
- BIOTRONIK SE & Co. KG
- Becton, Dickinson, and Company
- W. L. Gore & Associates Inc.
- Getinge AB
- Terumo Corp
- Kyoto Medical Planning Co Ltd
- iVascular S.L.U
- AMG International GmbH
- ENDOCOR GmbH
- Meril Life Sciences Pvt. Ltd.
- Nano Therapeutics Pvt Ltd
- Koninklijke Philips N.V.
- REVA Medical
For more information about this report visit https://www.researchandmarkets.com/r/addjxy
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