Peripheral Artery Disease Global Market to Surpass USD 54 Billion Mark by 2027 | DelveInsight

The global peripheral artery disease market is expanding rapidly due to reasons such as the growing geriatric population and the rising prevalence of peripheral artery disease and arteriosclerosis worldwide. Furthermore, the rising prevalence of obesity, diabetes, and high blood pressure, as well as increased product releases and approvals, will create a market need for peripheral artery disease.

 LAS VEGAS, Aug. 24, 2023 /PRNewswire/ -- DelveInsight's Peripheral Artery Disease Market Insights report provides the current and forecast market analysis, individual leading peripheral artery disease companies' market shares, challenges, peripheral artery disease market drivers, barriers, trends, and key market peripheral artery disease companies in the market.

Key Takeaways from the Peripheral Artery Disease Market Report

• As per DelveInsight estimates, North America is anticipated to dominate the global peripheral artery disease market during the forecast period. 
• Notable peripheral artery disease companies such as Medtronic, Otivio, Koninklijke Philips N.V., B. Braun SE, Boston Scientific Corporation, BD, Cook, Bayer AG, Terumo Corporation, Biotronik, Cordis, Abbott, AngioDynamics, Cardiovascular Systems, Inc., Bluesail Medical Co., Ltd., Contego Medical, Inc., Argon Medical, REX MEDICAL, Merck & Co., Inc., Sanofi, Johnson and Johnson Services, Inc., Reflow Medical Inc., and several others, are currently operating in the peripheral artery disease market.
• In August 2023, Following an experimental device exemption (IDE) by the US Food and Drug Administration (FDA), a drug-coated balloon that helps rebuild blood arteries by light activation has been licensed for use in clinical trials in the United States.
• In July 2023, Endologix LLC, a privately held global medical device company dedicated to providing disruptive therapies for the interventional treatment of vascular disease, announced that the first patients underwent Percutaneous Transmural Arterial Bypass (PTAB) using the DETOUR system since FDA approval was granted. 
• In July 2023, the FDA issued a letter to healthcare providers in which it stated that, based on its examination of all available data and analysis, the higher risk of mortality associated with paclitaxel-coated devices for the treatment of PAD is no longer substantiated.
• In November 2022, the US Food and Drug Administration (FDA) approved Genesis MedTech Group's Chocolate Touch Drug-coated Balloon (DCB) percutaneous transluminal angioplasty (PTA) Catheter for the treatment of peripheral artery disease (PAD) in the superficial femoral artery and popliteal artery.

To read more about the latest highlights related to the peripheral artery disease market, get a snapshot of the key highlights entailed in the Global Peripheral Artery Disease Market Report

Peripheral Artery Disease Overview

Peripheral Artery Disease (PAD) is a prevalent circulatory condition that affects the arteries carrying blood away from the heart to the limbs, most commonly the legs. It occurs due to a gradual build-up of plaque within the arteries, leading to a narrowing of the blood vessels and reduced blood flow. As a result, individuals with peripheral artery disease might experience symptoms like cramping, pain, or numbness in their legs, especially during physical activity. If left untreated, peripheral artery disease can have serious consequences, including impaired wound healing and an increased risk of heart attack or stroke. Lifestyle changes, medication, and in severe cases, surgical interventions, can help manage peripheral artery disease, improve blood circulation, and enhance overall quality of life. Regular medical check-ups and early intervention are crucial to effectively manage this condition and minimize its impact.

Peripheral Artery Disease Market Insights

North America held the highest share of the peripheral artery disease market in 2021, with 43.53%, and will continue to do so in the coming years. This can be attributed to increasing government initiatives to raise awareness about the effective treatment of peripheral artery diseases, an increasing burden of elderly patients prone to various cardiovascular disorders, an increasing prevalence of obesity, hypertension, and diabetes, and the presence of advanced healthcare facilities in the region, all of which will drive the peripheral artery disease market in North America during the forecast period.

In addition, the increasing number of product launches, approvals, and other regulatory activities among the region's leading companies would help to boost demand for peripheral artery disease treatment devices and drugs. For instance, Medtronic announced FDA approval for the IN.PACT 018 Paclitaxel-Coated Percutaneous Transluminal Angioplasty (PTA) Balloon Catheter, a drug-coated balloon (DCB), in May 2022.

To know more about why North America is leading the market growth in the peripheral artery disease market, get a snapshot of the Peripheral Artery Disease Market Outlook 

Peripheral Artery Disease Market Dynamics

The increasing prevalence of peripheral artery diseases worldwide is one of the important factors impacting the peripheral artery disease market growth. Furthermore, because PAD is largely caused by the development of fatty plaque in the arteries, which is known as atherosclerosis, increasing the prevalence of arteriosclerosis can eventually raise the cases of PAD and boost the market need for peripheral artery disease treatment devices and drugs. In addition, the rising incidence of obesity, diabetes, and high blood pressure will raise the risk of peripheral artery disease, increasing demand for treatment devices and drugs.

However, the high cost of various devices, adverse effects associated with various treatments, and other variables may prove to be difficult factors for the growth of the peripheral artery disease market.

Additionally, during the COVID-19 pandemic, the peripheral artery disease market was significantly damaged. The pandemic's breakout resulted in the cancellation of outpatient appointments as well as the suspension of non-emergency hospitals and procedures for chronic diseases such as cancer, diabetes, cardiovascular illnesses, stroke, and others. As a result, the number of individuals receiving standard therapy for the aforementioned disease has decreased. Furthermore, numerous elective procedures were postponed in order to treat individuals infected with the coronavirus. Furthermore, constraints on the supply chain, raw materials, and other resources hampered device and drug manufacture, resulting in a shortage of treatment devices and drugs in the peripheral artery disease market.

However, the development of the COVID-19 vaccine kicked off the path of economic recovery. Furthermore, the easing of lockdown restrictions and the return to normalcy in the economic landscape initiated the process of resumption of regular healthcare services such as outpatient visits and surgeries for the treatment of the aforementioned ailments, bringing the demand for products in the peripheral artery disease market back on track.

Get a sneak peek at the peripheral artery disease market dynamics @ Peripheral Artery Disease Market Dynamics Analysis

Peripheral Artery Disease Market Assessment

• Peripheral Artery Disease Market Segmentation
• Peripheral Artery Disease Market Segmentation By Treatment Type: Devices [Angioplasty Balloon, Angioplasty Stents, Plaque Modification Devices, Hemodynamic Flow Alteration Devices, and Peripheral Guidewires], and Drugs
• Peripheral Artery Disease Market Segmentation By End User: Hospitals, Ambulatory Surgical Centers, and Specialty Clinics
• Peripheral Artery Disease Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
• Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View

Which MedTech key players in the peripheral artery disease market are set to emerge as the trendsetter explore @ Peripheral Artery Disease Companies 

Table of Contents 

Interested in knowing the peripheral artery disease market by 2027? Click to get a snapshot of the Peripheral Artery Disease Market Trends

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About DelveInsight

DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance. 

Contact Us

Shruti Thakur
[email protected]   
+1(919)321-6187 
https://www.delveinsight.com/medical-devices    

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SOURCE DelveInsight Business Research, LLP

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