Rockville, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Global sales of peripheral vascular devices are expected to increase at a CAGR of 4.5% from 2023 to 2033 and reach a market size of US$ 16.83 billion by the end of the forecast period, as per this new industry analysis by Fact.MR, a market research and competitive intelligence provider.
The development of atherosclerotic plaque in the arteries that supply blood to body organs such as the limbs and the head is known as peripheral vascular disorder (PVD). Peripheral artery occlusive disease (PAOD), peripheral artery disease (PAD), and peripheral obliterative arteriopathy are some other names for PVD. It includes illnesses that impact the body's peripheral and cardiac circulation, which involves both peripheral arteries and veins.
Angioplasty stents, angioplasty balloon catheters, endovascular aneurysm repair (EVAR) stent-grafts, plaque modification devices, hemodynamic flow alteration devices, inferior vena cava filters are some of the peripheral vascular devices used in treating peripheral arterial diseases and are also employed in coronary and endovascular treatment procedures.
Peripheral vascular devices are used to reduce patient interference during surgeries with the least amount of disruption. The global market for peripheral vascular devices is predicted to be driven by the increasing prevalence of venous disorders, often known as CVI (Chronic Venous Insufficiency). Also, the growing global geriatric population base is increasing incidence rates of cardiac diseases, which subsequently is boosting the sales of peripheral vascular devices.
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Key Takeaways from Market Study
- The global peripheral vascular devices market is valued at US$ 10.84 billion in 2023.
- Worldwide sales of angioplasty stents are expected to increase at a CAGR of 5% through 2033.
- Global demand for angioplasty balloon catheters is predicted to expand at a CAGR of 4% during the next 10 years.
- Japan’s market for peripheral vascular devices is predicted to expand at a CAGR of 4% during the projected period.
Competitive Landscape
To increase and maintain their market position, key players in the peripheral vascular devices market are developing advanced devices. Mergers, acquisitions, partnerships, new developments in products, and enhancing local supply management systems are some of the marketing tactics adopted by market participants.
- Abbott announced the acquisition of Walk Vascular, an LLC, manufacturer of medical devices featuring a minimally-invasive mechanical aspiration peripheral venous thrombectomy device for the removal of peripheral blood clots, in September 2021. Abbott included Walk Vascular's peripheral thrombectomy systems in its current endovascular product line. Through the partnership, Abbott expanded the scope of its peripheral vascular devices and accessories.
- Cardio Flow, Inc., manufacturer of minimally-invasive peripheral vascular devices for the treatment of peripheral artery disease, announced in June 2022 that the FreedomFlow Peripheral Guidewire has received FDA approval.
Key Companies Profiled
- Abbott Laboratories
- B. Braun Melsungen AG
- BARD, A Becton, Dickinson Company
- Biosensors International Group Ltd.
- Biotronik SE & Co. KG
- Boston Scientific Corporation
- Cordis Corporation
- iVascular S.L.U
- Medtronic PLC
- Terumo Corporation
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Recent Developments
- The S.M.A.R.T. RADIANZ Vascular Stent System, a self-expanding stent especially created for radial peripheral treatments, received FDA approval in March 2022, according to Cordis, a global cardiovascular technology business. . This system was developed especially to improve radial access, deliver outstanding outcomes, and boost patient satisfaction.
- In October 2021, Boston Scientific Corporation presented favourable clinical trial results for the Eluvia Drug-Eluting Vascular Stent System at the Vascular InterVentional Advances (VIVA) conference in Las Vegas. The Eluvia stent outperformed self-expanding bare metal stents for treating patients with superficial femoral artery (SFA) lesions up to 210 mm in length and peripheral arterial disease, according to data from the EMINENT research. With 775 patients participating, it was the major drug stent randomised trial for the treatment of PAD to date.
- The United States Food and Drug Administration (FDA) granted Cook Medical breakthrough device status for a novel drug-eluting stent for below the knee (BTK) in January 2022. This innovative stent is meant to treat patients with persistent ischemia that poses a hazard to their limbs.
Key Segments of Peripheral Vascular Devices Industry Research
- By Type :
- Angioplasty Stents
- Angioplasty Balloon Catheters
- Endovascular Aneurysm Repair (EVAR) Stent Grafts
- Plaque Modification Devices
- Hemodynamic Flow Alteration Devices
- Inferior Vena Cava Filters
- By Indication :
- Target Artery Instabilities (TAIs)
- Access Artery Injuries (AAIs)
- Peripheral Arterial Diseases
- Arteriovenous Fistulas
- Peripheral Aneurysms
- By End User :
- Hospitals
- Ambulatory Surgical Centers
- Cardiac Catheterization Labs
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global peripheral vascular devices market, presenting historical demand data for 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study divulges essential insights on the market on the basis of type (angioplasty stents, angioplasty balloon catheters, endovascular aneurysm repair (EVAR) stent-grafts, plaque modification devices, hemodynamic flow alteration devices, inferior vena cava filters), indication (target artery instabilities (TAIs), access artery injuries (AAIs), peripheral arterial diseases, arteriovenous fistulas, peripheral aneurysms), and end user (hospitals, ambulatory surgical centers, cardiac catheterization labs), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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