Growing Awareness about the Condition and Rising Incidence to Trigger Growth of the Critical Limb Ischemia Treatment Market, Market to Exhibit Growth at 7.4 % CAGR during 2019 to 2027, TMR

ALBANY, N.Y., June 21, 2021 /PRNewswire/ -- Critical limb ischemia (CLI) refers to a severe type of peripheral arterial disease or PAD. In this condition, chronic inflammation is caused by atherosclerosis and it reduces blood flow to body parts like hands, feet, and legs, resulting in intense pain and sores or ulcers. Atherosclerosis is a progressive thickening of the artery lining. A sedentary lifestyle, smoking, obesity, high cholesterol, high blood pressure, and diabetes are all important risk factors for this condition. People who are aged 60 years and above are at a higher risk of contracting this disease. These factors are likely to play an important role in the development of the global critical limb ischemia treatment market in the years to come.

Loss of tissue, gangrene, and ischemic rest discomfort are all indications of critical limb ischemia. The surge of critical limb ischemia is predicted to significantly boost the demand for therapeutic product lines, thus leading to the growth of the global critical limb ischemia treatment market. Recent study shows that approximately 2 to 3 Mn people endure the sufferings caused by critical limb ischemia in the US. Furthermore, the demand for critical limb ischemia treatment is expected to be propelled by rising number of clinical studies and health-care spending. Furthermore, augmented awareness about the condition coupled with the availability of rich product line is anticipated to drive the market forward in the near future.

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In 2018, the global critical limb ischemia treatment market was worth around US$ 1,523.50 Mn, and it is expected to rise at a robust growth rate of 7.4% CAGR over the tenure of assessment, from 2019 to 2027. Over the forecast timeline, the market is expected to be driven by an increase in the prevalence of critical limb ischemia around the world.

Key Findings of Market Report

• Technical Innovations to Accelerate Adoption of CLI Treatment

The treatment options for critical limb ischemia have improved as more potential therapeutic options for its management have become available. Critical limb ischemia is basically a type of peripheral artery disease (PAD) that has progressed to an advanced state. In a short period of time, it has been known to cause serious myocardial infarction and loss of limbs. The link between critical limb ischemia and major comorbidities has highlighted the importance of constantly developing endovascular procedures. The introduction of novel non-invasive therapeutic techniques has accelerated advancements in arterial revascularization. Adoption of optimum revascularization techniques is a significant development that will likely boost revenue potential of the global critical limb ischemia treatment market in the forthcoming years. In addition, controlling numerous cardiovascular risk factors is necessary to enhance the effects of latest medicines or treatment procedures in the market. In this context, growing research in gene and cell-based therapeutics is projected to broaden the horizon for the stakeholders in the global critical limb ischemia treatment market. The high economic cost of critical limb ischemia in poor countries is projected to drive significant demand from these areas. The primary dangers of PAD, such as stroke, myocardial infarction, and mortality, also apply to critical limb ischemia, thereby necessitating numerous treatment methods.

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• Expansion in the Geriatric Population in Developing to Add to the Overall Growth of the Market

The surge in occurrence of critical limb ischemia in the countries of Asia Pacific, such as China and India, as well as an expansion in the base of geriatric population are expected to fuel demand for treatment options of CLI in the coming years. In addition to that, an increase in the spending on health-care services together with government initiatives in these countries are expected to propel global critical limb ischemia treatment market forward in the near future.  The market is expected to be propelled by a growing population, unmet medical demands, and increased patient awareness. Consumer purchasing power is increasing in many of the developing nations as disposable income rises, which is likely to work in favour of the market.

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Critical Limb Ischemia Treatment Market: Growth Drivers

• Antiplatelet medicines are commonly used to treat critical limb ischemia and are extensively available in pharmacies. Furthermore, prominent pharmaceutical companies are concentrating their efforts on the development of novel antiplatelet medicines for the treatment of critical limb ischemia.
• Due to the presence of various small and large players, the global critical limb ischemia therapy market is fragmented. Strategic alliances with local companies are becoming more common as a way to expand geographic presence and reinforce distribution networks.

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Critical Limb Ischemia Treatment Market: Key Competitors

• Abbott Laboratories
• Cardiovascular Systems, Inc
• Rexgenero Ltd
• Boston Scientific Corporation
• Pluristem Therapeutics Inc.
• Micro Medical Solutions

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