The peripheral vascular devices market size is projected to reach US$ 18.5 billion by 2031 from US$ 12.5 billion in 2023. The market is expected to register a CAGR of 5.7% during 2023–2031. The drug eluting stents and balloons are likely to remain key trends in the market.
Increasing prevalence of peripheral vascular diseases (PVD) is the key factor driving the market's growth. As per the WebMD, 8.5 million people in the United States have PVD. PVD is mostly observed in people aged 60 or more, affecting 12% - 20% of the population of that age group.
Increasing prevalence of peripheral vascular diseases (PVD), increase in conditions such as peripheral artery disease (PAD), deep vein thrombosis (DVT), and varicose veins, rising aging population, development of advanced devices such as bioresorbable vascular scaffolds, growing awareness for peripheral vascular devices, growing investments in healthcare infrastructure, favourable reimbursement policies are factors driving the growth of the peripheral vascular devices market.
High prevalence of smoking, alcoholism, and obesity are contributing to increase in peripheral vascular diseases, thereby increasing the demand for peripheral vascular devices. As per the Centers for Disease Control and Prevention (CDC), in 2021, nearly 12 of every 100 US adults (11.5%) that is around 28.3 million adults in the US smoke cigarettes and over 16 million of them live with a smoking-related disease.
Incidence and prevalence of peripheral disease increases with age. Thus, increase in elder population is likely to increase the demand for peripheral vascular devices market. As per the AARP International, Germany is one of the five “super-aged” societies in the world, and its population of people aged 65 and older will grow, reaching 24 million that is around one-third of its total population by 2050.
Key segments that contributed to the derivation of the peripheral vascular devices market analysis are product, and end user.
The geographic scope of the peripheral vascular devices market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The North America peripheral vascular devices market has been segmented into the US, Canada, and Mexico. Increased peripheral arterial disease, and rising demand for minimally invasive procedures are key factors driving the growth of the market in this region. Additionally, lifestyle changes, increase in aging population, and technological advancements are some of the prominent factors propelling the market growth in North America.
Europe holds a significant market share in the global peripheral vascular devices market. The growth of the market in the region is driven by increasing prevalence of peripheral arterial diseases, rise in the technological advancements, and rising government support.
The regional trends and factors influencing the Peripheral Vascular Devices Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Peripheral Vascular Devices Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 12.5 Billion |
| Market Size by 2031 | US$ 18.5 Billion |
| Global CAGR (2023 - 2031) | 5.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Peripheral Vascular Devices Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Peripheral Vascular Devices Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The peripheral vascular devices market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Veterinary Diagnostics market are listed below:
The “Peripheral Vascular Devices Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The peripheral vascular devices market is estimated to grow with a CAGR of 5.7% from 2023 to 2031.
The estimated value of the peripheral vascular devices market by 2031 is US$ 18.5 billion
The peripheral vascular devices market majorly consists of the players such as Abbott, Edwards Lifesciences Corporation, Medtronic, Teleflex Incorporated, Boston Scientific Corporation, BD, Cook Medical LLC, Terumo Corporation, B. Braun Melsungen AG, and Cardinal Health Inc. among others
Technological Advancements in Embolization Products and Procedures
Rising incidence of atherosclerosis, smoking, alcoholism, and obesity, coupled with the increasing prevalence of peripheral artery disease and arterial embolism are propelling the market. However, the high costs and complications associated with embolization procedures are hampering the market's growth.
North America dominated the peripheral vascular devices market in 2023