Peripheral artery disease Market Size

Global Peripheral Artery Disease Market Overview

Peripheral Artery Disease Market Size was valued at USD 2.69 Billion in 2023. The Peripheral Artery Disease market industry is projected to grow from USD 2.899 Billion in 2024 to USD 4.91 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.80% during the forecast period (2024 - 2032). Increased demands for minimally invasive procedures and growing elderly population are the key market drivers enhancing the market growth.

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Abbott Laboratories intends to spend $500m on a new infant formula facility to increase its production volumes in order to meet surging demand by October 2022.

For example, a global cardiovascular technology company Cordis announced the United States Food and Drug Administration (FDA) approval for the S.M.A.R.T. RADIANZ Vascular Stent System, a self-expanding stent specifically designed for radial peripheral procedures as of March 2022. The system is completed with recently approved BRITE TIP RADIANZ Guiding Sheath, RADIANZ Radial Peripheral System and SABERX RADIANZ PTA Catheter that were all developed to improve access through radial arteries, yield excellent results and satisfy patients’ needs.

In India, Terumo India signed an agreement with Sensible Medical Innovations for the commercial distribution of ReDS Pro in July 2022.

FreedomFlow Peripheral Guidewire’s FDA approval was a significant milestone reached by Cardio Flow Inc., a well-known producer of minimally invasive peripheral vascular devices for PAD treatment, in June 2022.

Further still, Abbott made public its acquisition of Walk Vascular September 2021; this firm specializes in products such as endovascular products, which are used for removing blood clots. While adding these peripheral thrombectomy systems into their existing line-up of endovascular product portfolios, Walk Vascular enabled Abbott to expand their range of services in the field of peripheral vascular care.

The Company launched the Biowearables division that will help understand health and wellness better using such parameters as glucose, ketones, and alcohol levels in one’s organism in January 2022.

Straub Medical AG was bought by Becton Dickinson & Co., owned by a private company, in June 2020. Such medical atherectomy and thrombectomy devices are made by Straub Medical AG to treat venous and PAD diseases. As a result of this takeover, Becton Dickinson & Company has improved its peripheral artery disease treatment capabilities.

Peripheral Artery Disease Market Trends

• Rise in demand for minimally invasive procedures is driving the market growth

Market CAGR for peripheral artery disease is being driven by the rising demand for minimally procedures. Growing demand for less invasive procedures and an uptick in peripheral arterial disease (PAD) cases are negatively impacting the market's expansion. Peripheral artery disease (PAD), which affects more than 200 million individuals worldwide and is linked to high mortality and morbidity, is described in the American Heart Association's 2021 report. The ageing of the world's population will probably lead to an increase in PAD cases in the future. Thus, as per the statistics, the number of PAD is growing more quickly, which ultimately is pushing the market for peripheral vascular devices.

Lower extremity peripheral artery disease (PAD) affects more than 230 million people worldwide and is associated with rising risk of a count of unfavorable clinical outcomes, including cardiovascular diseases like coronary heart disease and stroke and limb outcomes, as per a study published by American Heart Association in August 2021 and titled "Lower Extremity Peripheral Artery Disease Contemporary Epidemiology, Management Gaps, and Future Directions." Over the projected period, the market for peripheral vascular devices would benefit from the rising prevalence of PAD.

Other than COVID-19, which had a substantial impact on market, the COVID-19 pandemic had a detrimental impact on treatment and diagnostic methods. It also had a negative impact on research and development activities in the sector. The fact that many studies indicated that persons with heart illnesses were particularly vulnerable to COVID-19 also contributed to the decline in patient traffic to hospitals and diagnostic facilities.

For instance, the National Centre for Biotechnology Information reported that during the COVID-19 pandemic, cardiac procedural activity in England drastically decreased, with a deficit of about 45,000 procedures, with no increase in the risk of mortality for the majority of cardiac procedures performed during the pandemic. This finding has been supported by a research titled "Impact of COVID-19 on cardiac procedure activity in England and associated 30-day mortality," which was published by the National Centre for Biotechnology Information in May 2021. This study demonstrates how COVID-19 has a detrimental effect on cardiology services. The investigation was also carried out in England. The investigation was also carried out in England. Thus, driving the Peripheral Artery Disease market revenue.

Peripheral Artery Disease Market Segment Insights

Peripheral Artery Disease Type Insights

The Peripheral Artery Disease market segmentation, based on type includes Device, Catheters, Plaque Modification Devices, Hemodynamic Flow Alteration Devices, and Others. The hemodynamic flow alteration devices segment dominated the market. Peripheral vascular illnesses, which are brought on by the growth of atherosclerotic plaques in the arteries that supply blood to numerous organs, the head, and the limbs, are treated with hemodynamic flow alteration devices.

Peripheral Artery Disease Drugs Insights

The Peripheral Artery Disease market segmentation is based on drugs, Lipid-Lowering Drugs, Triple-H Therapy, Glucose Regulating Drugs, Blood Clot Preventing Drugs, Inotropes, Thrombolytic Agents, and Anti-Inflammatory Agents. The triple-H therapy category generated the most income. After aneurysmal subarachnoid haemorrhage (SAH), cerebral vasospasm is frequently prevented and treated using induced hypertension, hypervolemia, and hemodilution (triple-H therapy). The effectiveness of triple-H therapy and its precise function in the management of the acute phase of SAH are still unknown, despite the fact that this paradigm has received universal support over the past 20 years.

Peripheral Artery Disease End User Insights

The Peripheral Artery Disease market segmentation is based on end user, includes Hospitals & Clinics, and Ambulatory surgical clinics. The hospitals & clinics category generated the most income. The segmental growth is anticipated to be boosted by rising healthcare capital equipment expenditures, the favorable influence of technology utilizing lifeline curves, and innovations in healthcare regulatory scenarios.

Figure 1 Peripheral Artery Disease Market, by End User, 2023 & 2032 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Peripheral Artery Disease Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Peripheral Artery Disease market area will dominate this market, owing to an increase in the instances of cardiovascular diseases. In addition, the solid presence of industry players will boost market growth in this region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2 PERIPHERAL ARTERY DISEASE MARKET SHARE BY REGION 2023 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Peripheral Artery Disease market accounts for the second-largest market share due to the rising smoking, and obesity among the population within the region. Further, the German Peripheral Artery Disease market held the largest market share, and the UK Peripheral Artery Disease market was the fastest growing market in the European region

The Asia-Pacific Peripheral Artery Disease Market is expected to grow at the quickest CAGR from the period of 2023 to 2032. This is due to growing healthcare expenditures and growing geriatric population. Moreover, China’s Peripheral Artery Disease market held the largest market share, and the Indian Peripheral Artery Disease market was the fastest growing market in the Asia-Pacific region.

Peripheral Artery Disease Key Market Players & Competitive Insights

Leading market players are undergoing various innovations activity to diversify their product & service offerings, which will help the Peripheral Artery Disease market, grow even more. Market participants are undertaking various strategic tactics to grow their presence, with key market developments including new product innovations, contracts & agreements, mergers & acquisitions, higher investments, partnerships, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Peripheral Artery Disease industry must offer cost-effective items.

The producers are utilizing locally available raw materials to stand in the competition in the Peripheral Artery Disease industry to benefit clients and increase the market sector. In recent years, the Peripheral Artery Disease industry has offered some of the most significant advantages to medicine. Major players in the Peripheral Artery Disease market, including Philips N.V., Braun Melsungen AG, Medtronic, Bayer AG, Boston Scientific Corporation, Becton Dickinson and Company, Terumo Medical Corporation, Biotronik Cardinal Health., and others, are attempting to increase market demand by investing in research and development operations.

Becton Dickinson and Co. (BD) is a manufacturer and distributor of medical equipment, reagents, and instruments is. Syringes and pen needles, intravenous catheters, infusion pumps, disposables, automated medication dispensing and supply management systems, pre-fillable drug delivery systems, respiratory ventilation and diagnostic equipment and consumables, items for the secure collection and transportation of diagnostic specimens, instruments and reagent systems to detect a variety of infectious diseases and cancers, and clinical research tools are among its main products. Researchers who are working in the branch of life sciences, hospitals, clinics, the pharmaceutical sector, and the general public can all benefit from BD's products. In August 2022, The first-in-human trial of a peripheral sirolimus drug-coated balloon (DCB) has begun, according to BD (Becton, Dickinson and business) (NYSE BDX), a top  medical technology business.

Koninklijke Philips NV (Philips) is a diversified technology firm that creates and produces consumer electronics and medical solutions. Diagnostic imaging, enterprise diagnostic informatics, image-guided therapy, ultrasound, monitoring and analytics, sleep and respiratory care, population health management, linked care informatics, and therapeutic care are all sectors in which the business provides products and solutions. Products available include power toothbrushes, brush heads, baby bottles, sterilisers, breast pumps, shavers, groomers, trimmers, and items for skin, hair, and hair removal. It also sells personal care and dental healthcare items. In August 2020, A deal to acquire Intact Vascular, Inc., a company based in the United States that creates medical equipment for minimally invasive peripheral vascular operations, was announced by Royal Philips.

 Key Companies in the Peripheral Artery Disease market include

• Philips N.V.,


• Braun Melsungen AG,


• Medtronic,


• Bayer AG,


• Boston Scientific Corporation,


• Becton Dickinson and Company,


• Terumo Medical Corporation,


• Biotronik


• Cardinal Health

Peripheral Artery Disease Industry Developments

June 2022 The FDA has approved the company's FreedomFlow Peripheral Guidewire, according to Cardio Flow, Inc., a maker of minimally invasive peripheral vascular devices for the treatment of peripheral arterial disease (PAD).

January 2022 The United States Food and Drug Administration (FDA) granted Cook Medical a breakthrough device designation for a brand-new drug-eluting stent for below the knee (BTK). This brand-new stent is designed to help those with persistent ischemia that poses a risk to their limbs.

Peripheral Artery Disease Market Segmentation

Peripheral Artery Disease Treatment Type Outlook

• Device


• Catheters


• Plaque Modification Devices


• Hemodynamic Flow Alteration Devices


• Others

Peripheral Artery Disease Drugs Outlook

• Lipid Lowering Drugs


• Triple-H Therapy


• Glucose Regulating Drugs


• Blood Clot Preventing Drugs,


• Inotropes,


• Thrombolytic Agents,


• Anti-Inflammatory Agents

Peripheral Artery Disease End User Outlook

• Hospitals & Clinics


• Ambulatory Surgical Clinics

Peripheral Artery Disease Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America