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Peripheral Vascular Devices Market Segmented By Peripheral Vascular Stents, Drug Eluting Balloons, Peripheral Vascular Bioresorbable Scaffold Product with Target Artery Instability, Access Artery Injury, Peripheral Arterial Disease, Arteriovenous Fistulas, Peripheral Aneurysms Indication for Carotid Artery, Fem-Pop Artery, Iliac Artery, Infrapop Artery
Worldwide revenue from the peripheral vascular devices market was US$ 4.5 Bn in 2021, with the global market estimated to surge ahead at a CAGR of 6.6% to reach US$ 8.9 Bn by the end of 2032.
As studied by Persistence Market Research, peripheral vascular stents are expected to account for a market value of US$ 6.6 Bn by 2032. Overall, peripheral vascular device sales accounted for 43.4% revenue share of the global stents market in 2021.
| Report Attribute | Details |
|---|---|
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Peripheral Vascular Devices Market Size (2022) |
US$ 4.7 Bn |
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Projected Market Value (2032) |
US$ 8.9 Bn |
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Global Market Growth Rate (2022-2032) |
6.6% CAGR |
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Market Share of Top 5 Countries |
57.6% |
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The global market for peripheral vascular devices recorded a historic CAGR of 4.4% from 2012 to 2021.
Peripheral vascular disease is the blockage of the blood vessels that carry blood from the heart to the limbs. Peripheral arterial disease is primarily caused by the build-up of fatty plaque in arteries. Rise in the number of peripheral arterial disease cases contributes to the growth of the market for peripheral vascular devices.
Greater focus on the prevention & treatment of peripheral arterial disease in low & middle-income economies is expected to boost the growth of the market for peripheral vascular devices. Rising peripheral arterial disease prevalence rate is fuelling the demand and focus on interventional cardiology. Patients suffering from long-term cardiovascular diseases undergo angioplasty as the first line of treatment intervention.
Factors such as the increasing aging population, prevalence of cardiovascular and peripheral vascular disease, and growing healthcare expenditure in lower-middle-income countries are projected to boost the growth of the peripheral vascular devices market at a global level over the upcoming future, which is driving up demand for peripheral vascular devices.
The global peripheral vascular devices market is predicted to evolve at a CAGR of 6.6% and reach US$ 8.9 Bn by 2032.
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Peripheral vascular intervention is an effective treatment for patients with peripheral arterial disease and modification in the reimbursement policies is encouraging more outpatients in developed countries to opt for this treatment. Government initiatives and reimbursement policies toward peripheral vascular stentings in middle- and low-income economies are also expected to boost the growth of the market for peripheral vascular devices over the forecast period.
The frequency of endovascular interventions is rising as doctors and surgeons become more aware of therapies that are affordable. In addition, favorable laws and regulations for outpatient procedures are anticipated to propel the market for peripheral vascular devices.
Furthermore, the rising number of end users such as (ASCs) ambulatory surgical centers in both, underdeveloped and developing countries, will increase the number of outpatient cases, which will further drive overall market expansion.
“Increasing Threat of Product Recalls in Market”
With advancements in technology, peripheral vascular devices with new and innovative technologies are being developed. However, with the increase in advancements in technologies, many products were recalled by the Food and Drug Administration (FDA) owing to serious adverse health consequences.
Recalls due to failure to deploy, partial deployment, and difficult deployment with high risks such as bleeding and strokes are factors expected to restrain the growth of the market to some extent.
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Why is the U.S. a Lucrative Market for Peripheral Vascular Device Suppliers?
“Increasing Development, Innovation in Technology, and Growing Use of Drug-Eluting Stents in U.S. Market”
The U.S. accounted for 94.5% share of the North American peripheral vascular devices market in 2021, and a similar trend is expected over the forecast period.
Most companies in the market are focusing on enhancing the design of peripheral stents and on peripheral local drug delivery using antiproliferative and antithrombotic drugs for the treatment and prevention of restenosis in interventional peripheral procedures.
In addition, they are working on the combination of reabsorbable stents with drug-eluting stents to provide maximum benefits to peripheral arterial disease patients undergoing stenting procedures.
Thus, demand for peripheral vascular stents has increased in the U.S. in consideration of these approvals, thereby promoting the value of the market in the country.
What is Germany’s Stance in the Market for Peripheral Vascular Devices?
“Market Benefiting Due to Increasing R&D Activities in Germany”
Germany held 22.3% share of the Europe peripheral vascular devices market in 2021.
When it comes to research and development, Germany is one of the leading countries in Europe. Additionally, the country adopts new technology in the healthcare sector more quickly and at a higher rate than the majority of other European nations. This is explained by the fact that there are many international healthcare companies in the country manufacturing peripheral vascular devices.
To address the issues related to peripheral arterial disease, numerous researchers are concentrating on research and product development activities.
Will China Emerge as a Prominent Market for Peripheral Vascular Device Manufacturers?
“Rising Prevalence of Diabetes Driving Product Need in China”
China held the largest market share of 56.5% of the East Asia peripheral vascular devices market in 2021.
It is anticipated that as this illness becomes more common, peripheral vascular disease (PVD) will also become more common.
Furthermore, another factor contributing to an increased prevalence of peripheral vascular disease is the growing aging population.
Due to their high vulnerability to illnesses such as PVD, the growth of this demography will result in the rising demand for peripheral vascular systems.
Which Product is Set to Account for Substantial Market Progress?
“High Demand for Development & Manufacturing of Peripheral Vascular Stents”
The peripheral vascular stent products segment held 78.5% share of the global market in 2021.
Peripheral vascular stents are synthetic tubular mesh structures used for long-term peripheral stent implants. They are also referred to as vascular stents or endovascular stents.
Sales of devices such as peripheral vascular devices are expected to increase because of increased awareness in low- and middle-income nations, growing government and industry investments to address the increasing prevalence of peripheral vascular disease, and technological advancements in vascular stents such as drug-eluting and drug-coated stents.
Which Indication Will Drive high Need for Peripheral Vascular Systems?
“Surging Worldwide Prevalence of Peripheral Arterial Disease”
Peripheral arterial disease indication held the largest market share of 30.3% in 2021.
The prevalence rate of peripheral arterial disease is increasing at the global level as compared to other indications such as arteriovenous fistulas, peripheral aneurysms, etc. Because of this, the peripheral arterial disease segment held a great proportion of the market among all indications.
To increase and strengthen their global product portfolios, leading manufacturers are developing technologically-advanced products. Similarly, many competitors in the peripheral vascular devices industry have engaged in activities such as mergers and acquisitions. Another effective approach noticed in the industry is expansions and collaborations set to boost key players’ share in the market.
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Forecast Period |
2022-2032 |
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Historical Data Available for |
2012-2021 |
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Market Analysis |
USD Million for Value |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
Available upon Request |
By Product:
By Indication:
By Artery Type:
By End User:
By Region:
The global peripheral vascular devices market was valued at US$ 4.5 Bn in 2021.
Sales of peripheral vascular devices are set to increase at 6.6% CAGR and be valued at US$ 8.9 Bn by 2032.
Demand for peripheral vascular devices increased at 4.4% CAGR from 2012 to 2021.
The U.S., China, Germany, U.K., and India currently hold 57.6% market share.
The U.S. accounts for 94.5% share of the North American market.
Abbott Laboratories, Medtronic Plc., and Boston Scientific Corporation are leading suppliers of peripheral vascular devices.
China held a share of 56.5% in the East Asia peripheral vascular devices market in 2021.
