Home Speciality Chemicals Peripheral Artery Disease Market Growth, Trends and Forecast to 2031

Peripheral Artery Disease Market

Peripheral Artery Disease Market Size, Share & Trends Analysis Report By Type (Peripheral Angioplasty Balloons, Plaque Modification Devices, Peripheral Stents, Peripheral Catheters, Hemodynamic Flow Alteration Devices, Inferior Vena Cava (IVC) Filters, Peripheral Accessories), By Treatment (Device, Catheters, Plaque Modification Devices, Hemodynamic Flow Alteration Devices, Others), By Disease (Lipid Lowering Drugs, Triple-H Therapy, Glucose Regulating Drugs, Blood Clot Preventing Drugs,, Inotropes,, Thrombolytic Agents,, Anti-Inflammatory Agents), By End User (Hospitals & Clinics, Ambulatory Surgical Clinics) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Report Code: SRSC54277DR
Study Period 2019-2031 CAGR 8.35%
Historical Period 2019-2021 Forecast Period 2023-2031
Base Year 2022 Base Year Market Size USD 4.45 Billion
Forecast Year 2031 Forecast Year Market Size USD 9.15 Billion
Largest Market North America Fastest Growing Market Europe
The sample report only takes 30 secs to download, no need to wait longer.

Market Overview

The global peripheral artery disease market size was valued at USD 4.45 billion in 2022. It is projected to reach USD 9.15 billion by 2031, growing at a CAGR of 8.35% during the forecast period (2023-2031). 

Peripheral artery disease (PAD) affects blood vessels that are outside of the heart or brain. Plaque accumulation in the arteries that supply blood to the brain, organs, and limbs causes PAD. Fat, cholesterol, calcium, fibrous tissue, and other materials are used to make plaque. The arteries in the legs are typically affected by PAD, but it can also affect the arteries that supply blood to the head, arms, kidneys, and stomach. The market for peripheral artery diseases is expanding as a result of factors like the aging population's quick growth and the consequent rise in the prevalence of peripheral artery diseases, as well as an increase in product approvals. However, product recalls and market expansion is problematic. Additionally, the prevalence of diabetes and high blood pressure among the population is rising, which increases the risk of peripheral artery disease. The introduction of cutting-edge treatment products like drug-eluting stents and a favorable reimbursement environment for the treatment of peripheral artery disease also contribute to the market's expansion.

Market Dynamics

What are the primary factors driving the Peripheral Artery Disease Market?

Rising Geriatric Population Worldwide

In 2025, it is anticipated that the proportion of elderly people in the world's population will rise from 5.3% to 9.3%. The majority of elderly people, or 217 million, live in Asia. There are 87 million elders in China alone, and that number is projected to rise to 300 million by 2025. By 2031, there will be 194 million elderly people in India, up from 51 million today. Therefore, chronic conditions are more common, and acute diseases are more common as people live longer. Furthermore, the main risk factors for peripheral artery disease include smoking, diabetes, hypertension, and hypercholesterolemia. Peripheral artery disease, which has become a leading cause of disability among people over 50 and those with diabetes, affects roughly 8.5 million people in the U.S. who are 40 years of age or older. The likelihood of developing PAD increases with age; it affects 3% of people under the age of 60, but it affects 15% to 20% of people over the age of 70.

Enhanced Insurance and Reimbursement Policies

Many developing nations, including Brazil, China, and India, are currently debating whether to enact mandatory health insurance programs in an effort to draw more funding to the healthcare industry. Additionally, governments everywhere strive to offer their citizens high-quality healthcare. Authorities effectively work to improve public welfare by promoting health insurance, building a strong infrastructure, and raising awareness of health-related issues. Additionally, all citizens now receive crucial public health services from primary care facilities. These are provided for free at the point of delivery and are jointly funded by the federal and local governments. With a focus on the health of elderly people and rural women, an expanded public health package was created to incorporate health education, non-communicable diseases, and mental illnesses. Additionally, a number of insurance companies on the market have increased their market reach by making these procedures affordable in the developing world.

What are the main factors that will slow down the Peripheral Artery Disease Market?

Complications Linked with Restenosis

Following angioplasty, restenosis refers to a decrease in the diameter of the vessel lumen. A minimally invasive revascularization technique called percutaneous transluminal angioplasty (PTA) is used to treat atherosclerotic lesions in the peripheral area. Due to recurrent stenosis (restenosis), a significant drawback of percutaneous angioplasty that restricts the widespread use of this minimally invasive technique, late clinical failure occurs in 60% of patients (within the first 12 months) following primarily successful interventions. Decreased endothelial function, elevated platelet activity, and a more aggressive cellular response to injury are additional characteristics of diabetic patients. Additionally, patients with diabetes are more likely to experience restenosis, which limits market expansion.

What are the future opportunities for Peripheral Artery Disease Market?

Increasing Technological Advancements

In the past few years, there have been improvements in treatment options for peripheral artery disease. The development of bio-engineered stents, EPC capture stents, and dual therapy stents is a result of technological advancements. Peripheral stents also have the capacity to stop plaque accumulation or vessel collapse. For instance, a new stent placement therapy alternative is the 360-degree orbital atherectomy system. In this procedure, a surgeon clears plaque buildup from clogged arteries using a catheter-based tool. Drug-coated balloons are used to treat a vessel segment and deliver the antiproliferative drug paclitaxel to the vessel wall without the use of a stent, thereby lowering the risk of restenosis. The FDA recently approved drug-coated balloons, which is further boosting the market growth. Additionally, as the first line of treatment for PAD, minimally invasive endovascular procedures like angioplasty or atherectomy are now more frequently used than bypass surgery. Atherectomy and balloon angioplasty with stenting are the two primary types of endovascular therapies. Additionally, using a stent or catheter, an atherectomy is advantageous for removing plaque buildup in arteries. As a result, the market for atherectomy is anticipated to grow along with the prevalence of calcified and hard lesions, and the introduction of new interventional treatment options is what propels the market growth.

Regional Analysis

The global peripheral artery disease market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America region is the highest contributor to the market and is expected to grow at a CAGR of 7.5% during the forecast period. This is primarily attributed to an increase in the number of elderly people and patients with complications from diabetes and high blood pressure. Additionally, the market is growing as a result of individuals' increasingly unhealthy lifestyle choices, including unhealthy eating patterns, excessive alcohol consumption, smoking, obesity, and a lack of physical activity. For instance, the American Heart Association estimates that over 8.5 million Americans are affected by peripheral artery disease (PAD) each year. In order to further fuel market growth, it is anticipated that more people will use advanced peripheral artery disease devices like peripheral angioplasty balloons, peripheral stents, peripheral catheters, inferior vena cava (IVC) filters, plaque modification devices, hemodynamic flow alteration devices, and peripheral accessories. The healthcare systems, facilities, and payers in North America are highly regarded. The demand for better healthcare services, technologically advanced devices, and effective treatment strategies is growing as the prevalence of health-related diseases and disorders rises. Additionally, as the need for highly qualified medical professionals to operate these grows, there are more job opportunities in the area.

Europe is expected to witness dynamic growth in the peripheral artery disease market, with a CAGR of 8.4% during the forecast period due to an increase in smoking among people and cardiovascular diseases. Due to factors like the country's rising incidence of peripheral diseases, the peripheral artery disease market in Germany is expanding steadily. Increased prevalence of chronic diseases, an aging population, and improved detection and screening techniques for the early diagnosis of several peripheral diseases are among the market growth factors in Europe. Positive clinical results, a decline in product failure rates, and the emergence of new technologies, such as drug-eluting stents, which offer high efficiency and minimize the risk of the device malfunction, are all contributing to the market's growth. Additionally, rising focus on the development of newer devices by market players, product approval and launches, and an increase in blood pressure, diabetes, cardiac cases, and lifestyle changes are driving market growth in the region.

Asia-Pacific is expected to witness a significant CAGR of 9.45% in the peripheral artery disease market during the forecast period due to the existence of significant untapped opportunities, including growing healthcare budgets and rising disposable income. Growing geriatric populations also contribute to an increase in demand for advanced peripheral artery disease devices, which supports market expansion. Additionally, the Asia-Pacific region has a high population density, with China and India making up 38% of the global population. The prevalence of chronic diseases is rapidly rising in this region as a result of population aging and lifestyle changes. Additionally, as insurance policies become more affordable to the populace, the market's expansion is further supported.

The LAMEA region is expected to witness a moderate CAGR of 9.1% in the global peripheral artery disease market during the forecast period. Peripheral diseases are becoming more common in Latin America. This is primarily attributable to these nations' ineffective treatment infrastructure. Additionally, Latin American nations have lower gross national incomes and, as a result, do not invest as much in the development of new technologies. As a result, the demand for effective treatment systems is rising. A number of important Western players are drawn by the increase in demand to invest in the Latin American market to expand their businesses. Future technological developments, along with focus and investment from major players, are anticipated to present a number of opportunities for market growth. Additionally, people can now afford the cost of a full procedure, which is anticipated to rise in the near future due to the improvement in these nations' economies. Therefore, it is anticipated that the market for peripheral artery disease will grow quickly during the forecast period.

Report Scope

Report Metric Details
Segmentations
By Type
  1. Peripheral Angioplasty Balloons
  2. Plaque Modification Devices
  3. Peripheral Stents
  4. Peripheral Catheters
  5. Hemodynamic Flow Alteration Devices
  6. Inferior Vena Cava (IVC) Filters
  7. Peripheral Accessories
By Treatment
  1. Device
  2. Catheters
  3. Plaque Modification Devices
  4. Hemodynamic Flow Alteration Devices
  5. Others
By Disease
  1. Lipid Lowering Drugs
  2. Triple-H Therapy
  3. Glucose Regulating Drugs
  4. Blood Clot Preventing Drugs,
  5. Inotropes,
  6. Thrombolytic Agents,
  7. Anti-Inflammatory Agents
By End User
  1. Hospitals & Clinics
  2. Ambulatory Surgical Clinics
Company Profiles Abbott Laboratories Cardinal Health, Inc. Boston Scientific Corporation Cook Medical Becton Terumo Corporation Koninklijke Philips N.V Dickinson and Company AngioDynamics, Inc. BIOTRONIK B. Braun Melsungen AG
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports

Segmental Analysis

The global peripheral artery disease market is segmented by type.

Based on service type, the global peripheral artery disease market is bifurcated into peripheral angioplasty balloons, plaque modification devices, peripheral stents, peripheral catheters,   hemodynamic flow alteration devices, inferior vena cava (IVC) filters, and peripheral accessories.

The peripheral stents segment is the highest contributor to the market and is expected to grow at a CAGR of 7.5% during the forecast period. A narrowing or blockage within arteries or veins can be treated with peripheral stents, which are small tubular metal scaffolds that can be inserted in peripheral vessels and improve blood flow. Stents frequently have a nitinol base and can be plain, coated with medication, or covered in prosthetic material. The blockage is typically first flattened against the vessel walls with a balloon (angioplasty) to allow the stent to expand more easily. The development of bio-engineered stents, EPC capture stents, and dual therapy stents are all products of technological advancements in the stents market.

The peripheral angioplasty balloons segment is expected to witness a higher CAGR of 8.9%. A narrowed artery is widened using peripheral angioplasty balloons during an angioplasty procedure. In this procedure, a wire is used to guide an empty balloon catheter into constricted arteries. A balloon is inflated after it has moved into the desired position. This causes the stenosis (narrowing) on the vessel wall to displace. During the forecast period, an increase in diabetes, cholesterol, and cardiac disease cases is likely to spur market expansion.

Market Size By Type

Recent Developments

  • January 2022, Abbott Laboratories launches a new Biowearables category to track glucose, ketones, and alcohol in the body for a better understanding of health and wellness.
  • October 2022, Abbott Laboratories is planning to spend USD 500 million to construct a new baby-formula plant to ramp up its production capacity to meet the increasing demand.
  • July 2022, Terumo India signed a strategic partnership with Sensible Medical Innovations for the commercial distribution of ReDS Pro in India.

Top Key Players

Abbott Laboratories Cardinal Health, Inc. Boston Scientific Corporation Cook Medical Becton Terumo Corporation Koninklijke Philips N.V Dickinson and Company AngioDynamics, Inc. BIOTRONIK B. Braun Melsungen AG Others

Frequently Asked Questions (FAQs)

How big is peripheral artery disease market?
The global peripheral artery disease market size was valued at USD 4.45 billion in 2022. It is projected to reach USD 9.15 billion by 2031, growing at a CAGR of 8.35% during the forecast period (2023-2031).
Key verticals adopting market include: - Abbott Laboratories, Cardinal Health, Inc., Boston Scientific Corporation, and Cook Medical, Becton, Terumo Corporation
Europe region has the highest growth rate in the market.
Rising geriatric population worldwide and enhanced insurance and reimbursement policies are the key drivers for the growth of the market.
Increasing technological advancements are the key opportunity in market.


We are featured on :

This website uses cookies to ensure you get the best experience on our website. Privacy Policy