Dublin, June 13, 2022 (GLOBE NEWSWIRE) -- The "Peripheral Artery Disease Market by Type, Global Opportunity Analysis and Industry Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
At an estimated value of over USD 4.02 billion in 2021, the Global Peripheral Artery Disease Market is predicted to thrive at a CAGR of 7.5% and valued at over USD 7.80 billion over the forecast year 2022-2030.
Peripheral artery disease is a common circulatory problem that causes narrowing of the peripheral arteries. Generally, it affects arteries in the legs and sometimes affects the arteries carrying blood from the heart to the arms, kidneys, head, and stomach. It is mainly caused by the deposition of fats or plaques in the artery walls. Exercise, tobacco cessation, and a healthy diet are the main treatments for this disease; however, when such treatments aren't enough, medication or surgery can be helpful.
Market Dynamics and Trends
Factors such as the huge geriatric population, widespread unhealthy lifestyle choices, and rise in new product approvals in the field of peripheral artery disease drive the growth of the market. In addition, high-risk factors including diabetes and smoking contribute to the upsurged incidences of peripheral arterial diseases, further propelling the market growth.
However, the concern of restenosis and the reoccurrence of peripheral artery disease (PAD) even after the treatment may hamper the growth of the market to some extent. On the other hand, continually changing lifestyle habits including unhealthy dietary habits, excessive alcohol consumption, and lack of physical activity also make people more vulnerable to PAD and thus, boost the market growth.
In terms of geography, North America held the major share of the market in 2019. This is attributed to higher healthcare expenditure and the growing occurrence of minimally invasive surgeries in the region.
However, Asia-pacific is expected to be the fastest-growing market due to the existence of a large patient pool along with unmet medical needs.
Moreover, significant growth in population together with a growing geriatric population is expected to be opportunistic for the market growth in this region during the forecast period.
Lucrative growth opportunities make the peripheral artery disease market highly competitive. Some of the major players in the market are Abbott Laboratories, Boston Scientific Corporation, Cardinal Health, Inc., Terumo Corporation, Cook Medical, Becton, Dickinson and Company, Koninklijke Philips N.V, AngioDynamics, Inc., BIOTRONIK, and B. Braun Melsungen AG. and many more.
A number of developmental strategies have been adopted by companies in the past few years. For instance, in September 2020, Abbott Laboratories started the LIFE-BTK clinical trial to assess the effectiveness and safety of its Esprit BTK Everolimus-Eluting Resorbable Scaffold System. This is the Investigational Device Exemption (IDE) trial in the U.S. that is expected to help people battling the advanced stages of peripheral artery disease (PAD).
Also, in June 2020, Becton, Dickinson and Company acquired Straub Medical AG, a private company. Straub Medical AG develops medical atherectomy & thrombectomy devices for the treatment of venous disease and peripheral arterial disease (PAD). This acquisition strengthens peripheral artery disease treatment capabilities of the Becton, Dickinson and Company.
Key Topics Covered:
1.1. Report Description
1.2. Who Should Read This Report
1.3. Key Market Segments
1.4. Key Market Players
1.5. Research Methodology
2. Peripheral Artery Disease Devices Market - Executive Summary
2.1. Market Snapshot, 2021 - 2030, Million USD
3. Market Overview
3.1. Market Definition And Scope
3.2. Market Dynamics
18.104.22.168. Surge in initiatives for advanced pet care products
22.214.171.124. Rapid growth in the geriatric population
126.96.36.199. Increase in diabetic patients
188.8.131.52. Rise in unhealthy lifestyle choices
184.108.40.206. Stringent regulations related to peripheral vascular devices
220.127.116.11. Improvement of healthcare infrastructure in developing countries
4. Global Peripheral Artery Disease (Pad) Devices Market, By Type
4.2. Peripheral Angioplasty Balloons
4.3. Peripheral Stents
4.4. Peripheral Catheters
4.5. Inferior Vena Cava (IVC) Filters
4.6. Plaque Modification Devices
4.7. Hemodynamic Flow Alteration Devices
4.8. Peripheral Accessories
5. Global Peripheral Artery Disease (Pad) Devices Market, By Region
Boston Scientific Corporation
Cardinal Health, Inc.
Becton, Dickinson and Company
Koninklijke Philips N.V
B. Braun Melsungen AG.
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