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According to the global peripheral artery disease market report by IMARC Group, the market reached a value of US$ 4.11 Billion in 2021, and it is projected to reach a value of US$ 5.91 Billion by 2027, exhibiting a CAGR of 6.10% during 2022-2027.
The global peripheral artery disease market size reached US$ 4.11 Billion in 2021. looking forward, imarc group expects the market to reach a value of US$ 5.91 Billion by 2027, exhibiting a growth rate (CAGR) of 6.10% during 2022-2027.
Peripheral artery disease (PAD) represents a cardiovascular disorder in which constricted arteries restrict blood flow to the limbs. It results in leg numbness, feet or toe sores, hair loss, painful cramps in hips and thighs, coldness and weak pulse, erectile dysfunction among men, etc. PAD is caused when a plaque, also known as atherosclerosis, develops in leg arteries that carry nutrient-rich blood and oxygen through the heart to the arms and legs. It is diagnosed using various techniques, such as ultrasound scan, angiography, blood tests, the ankle-brachial index, Doppler and ultrasound (duplex) imaging, magnetic resonance angiography (MRA), computed tomographic angiography (CT), etc.
Industry Trends and Drivers
The changing lifestyles of individuals, the rising adoption of unhealthy dietary patterns, alcoholism, and obesity, on account of the lack of physical activities, are among the primary factors driving the peripheral artery disease market. Besides this, the emerging trend of minimally invasive surgeries (MIS), owing to less postoperative pain, fewer operative and major complications, shortened hospital stay, faster recovery times, and less stress on the immune system, is further augmenting the market growth.
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Moreover, the launch of several policies by the government bodies to promote and spread awareness in individuals towards the benefits of PAD devices is also catalyzing the global market. Apart from this, the escalating prevalence of cardiac illnesses, especially among the geriatric population and the expanding healthcare industry, are acting as significant growth-inducing factors. Furthermore, the rising focus of the leading players on mergers and acquisitions (M&A) to develop effective treatment options is anticipated to propel the peripheral artery disease market over the forecasted period.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Abbott Laboratories, AngioDynamics, B. Braun Melsungen AG, Becton Dickinson and Company, Biotronik SE & Co. KG, Boston Scientific Corporation, Cardinal Health Inc., Cook Medical LLC, Koninklijke Philips N.V., Medtronic plc and Terumo Corporation.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Type:
- Peripheral Angioplasty Balloons
- Peripheral Stents
- Peripheral Catheters
- Inferior Vena Cava (IVC) Filters
- Plaque Modification Devices
- Hemodynamic Flow Alteration Devices
- Peripheral Accessories
Breakup by End User:
- Hospitals
- Specialty Clinics
- Others
By Geography:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom,
Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia,
Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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