Peripheral Vascular Devices Market to Surpass US$ 18,503.7 Mn by 2030 - Coherent Market Insights

Global Peripheral Vascular Devices Market, by Product Type (Peripheral Vascular Stents, Peripheral Transluminal Angioplasty Balloon Catheters, PTA Guidewires, Atherectomy Devices, Chronic Total Occlusion Devices, Aortic Stents, Synthetic Surgical Grafts, Embolic Protection Devices, and Inferior Vena Cava Filters), by End User (Hospitals, Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$  10,266.8 Million in 2022 and is expected to exhibit a CAGR of 7.6% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.

The increasing adoption of organic growth strategies such as product approvals by the key players in the market is expected to drive the market growth over the forecast period. For instance, in September 2019, Terumo Medical Corporation, a company involved in manufacturing medical device, launched R2P MISAGO RX Self-expanding Peripheral Stent at the 31st Transcatheter Cardiovascular Therapeutics (TCT) Conference in San Francisco.  R2P MISAGO radial devices is specifically designed for peripheral procedures.

Global Peripheral Vascular Devices Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.

The COVID-19 pandemic had a negative impact on global peripheral vascular devices market, as before commencing any interventional procedure, surgeons run through a series of clinical tests to decide the best treatment for patients. However, due to the lockdown in many countries, patient visits to hospitals have been reduced significantly. As a result, the number of diagnostic tests has reduced. This has further reduced the sales of peripheral vascular devices. Globally, a majority of countries have postponed elective surgeries in order to prevent the spread of COVID-19. Since 70–80% of peripheral vascular interventional procedures are elective, many of these procedures have been postponed. This is another factor negatively impacting the growth of the peripheral vascular devices market. For instance, as per Medtronic’s financial 2021, Aortic, Peripheral & Venous, second-quarter global revenue decreased by 1.3 % and 1.9 % respectively.

Global Peripheral Vascular Devices Market: Key Developments

On November 22, 2019, Medtronic, an American medical device company, announced that they have received the U. S. FDA (Food and drug administration) approval for IN.PACT AV DCB, a paclitaxel-coated balloon to treat failing arteriovenous (AV) access in patients suffering from end-stage renal disease (ESRD) undergoing dialysis.

Browse 19 Market Data Tables and 28 Figures spread through 185 Pages and in-depth TOC on “Global Peripheral Vascular Devices Market”-  Forecast to 2030, Global Peripheral Vascular Devices Market, by Product Type (Peripheral Vascular Stents, Peripheral Transluminal Angioplasty Balloon Catheters, PTA Guidewires, Atherectomy Devices, Chronic Total Occlusion Devices, Aortic Stents, Synthetic Surgical Grafts, Embolic Protection Devices, and Inferior Vena Cava Filters), by End User (Hospitals, Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

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https://www.coherentmarketinsights.com/market-insight/peripheral-vascular-devices-market-391

Moreover, increasing prevalence of peripheral vascular diseases like peripheral artery disease (PAD) is expected to drive the market growth over the forecast period. For instance, according to an article titled “Epidemiology of Peripheral Artery Disease and Polyvascular Disease,” published in June 10, 2021, Atherosclerotic lower extremity peripheral artery disease (PAD) is increasingly recognized as an important cause of cardiovascular morbidity and mortality that affects more than 230 million people worldwide.

Key Takeaways of the Global Peripheral Vascular Devices Market:

• The global peripheral vascular devices market is expected to exhibit a CAGR of 7.6% during the forecast period due to the increase in the government’s contracts for peripheral vascular devices. For instance, in January 2020, Cook Medical, a medical device company, was awarded a new contract with the U.S. Department of Veterans Affairs, which includes products such as the Zilver PTX Drug-Eluting Peripheral Stent, Zenith aortic endografts, and associated interventional devices to treat patients with vascular disease.
• Among product type, Peripheral Transluminal Angioplasty Balloon Catheters is estimated to hold a dominant position in the global peripheral vascular devices market over the forecast period, owing to the increased cardiovascular disorders.
• Among end user, hospitals are estimated to account for the largest market share in the global Peripheral Vascular Devices market over the forecast period.
• Major players operating in the global Peripheral Vascular Devices market include Abbott Laboratories, Boston Scientific Corporation, Angioscore, Emboline Inc., Becton Dickinson, and Company, Cook Group Inc., Cordis Corporation, Covidien PLC, Edward Lifesciences Corporation, Medtronic Plc, St. Jude Medical, and Bayer AG.