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What Are The Market Size Estimates For The Peripheral Artery Disease Market?
The market size of peripheral artery disease has seen significant growth in the past few years. The projection of the growth rate is from $4.31 billion in 2024 to $4.62 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%. The robust growth in the previous years can be credited to factors such as the rise in risk factor prevalence, aging population growth, advancements in clinical research and evidence-based medicine, initiatives towards awareness and screening programs, and government-led healthcare initiatives.
The market size of peripheral artery disease is predicted to significantly surge in the upcoming years, expanding to $6.2 billion in 2029 with a compound annual growth rate (CAGR) of 7.6%. This anticipated growth during the forecast period can be credited to an emphasis on care centred around the patient, progress in minimally invasive practices, the impact of digital health and remote surveillance, strategies involving regenerative medicine, and specific drug therapies. Key trends expected within this forecast period encompass initiatives on health equality, the implementation of wearable tech devices, the broadening scope of home-based rehabilitation, patient-reported outcomes (PROs), and a transition towards outpatient care facilities.
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Which Growth Drivers Are Shaping The Peripheral Artery Disease Market Outlook?
Advancements in the peripheral artery disease market are being driven by the increasing occurrence of peripheral artery diseases. Peripheral artery disease is a condition characterized by the constriction or obstruction of arteries beyond the heart, most commonly in the leg region. This often leads to lesser blood circulation, resulting in possible difficulties. Peripheral artery disease treatments can alleviate symptoms, improve mobility and lower risk of severe repercussions, thus elevating patient health. Take, for example, in June 2023, data from the American Heart Association, a non-profit organization based in the United States, indicates that the condition affects between 7 to 12 million individuals in the United States and around 200 million people globally. As such, the escalating prevalence of peripheral artery diseases is fuelling the trajectory of the peripheral artery disease market.
What Are The Primary Segmentation Parameters In The Peripheral Artery Disease Market?
The peripheral artery diseasemarket covered in this report is segmented –
1) By Type: Peripheral Angioplasty Balloons; Peripheral Stents; Peripheral Catheters; Inferior Vena Cava (IVC) Filters; Plaque Modification Devices; Hemodynamic Flow Alteration Devices; Peripheral Accessories
2) By Drugs: Lipid-Lowering Drugs; Blood Pressure Lowering Drugs; Glucose Regulating Drugs; Blood Clot Preventing Drugs; Inotropes; Thrombolytics Agents; Anti-Inflammatory Agents
3) By Route of Administration: Oral; Parenteral; Other Routes of Administration
4) By End Users: Hospitals; Specialty Clinics; Other End Users
Subsegments:
1) By Peripheral Angioplasty Balloons: Drug-Eluting Balloons; Non-Drug-Eluting Balloons; Scoring Balloons; Cutting Balloons
2) By Peripheral Stents: Drug-Eluting Stents; Bare Metal Stents; Covered Stents
3) By Peripheral Catheters: Sheath Introducers; Guidewires; Diagnostic Catheters; Delivery Catheters
4) By Inferior Vena Cava (IVC) Filters: Retrievable IVC Filters; Permanent IVC Filters
5) By Plaque Modification Devices: Atherectomy Devices; Laser Atherectomy Devices; Rotational Atherectomy Devices
6) By Hemodynamic Flow Alteration Devices: Flow Diversion Devices; Flow Restriction Devices
7) By Peripheral Accessories: Diagnostic Imaging Accessories; Accessory Kits for Interventional Procedures; Support Devices
Which Emerging Trends Are Reshaping The Peripheral Artery Disease Market Landscape?
Emerging technological innovations are becoming a significant trend in the peripheral artery disease market. Major corporations in this market are embracing cutting-edge surgical treatments to maintain their market standing. Take for example, Genesis MedTech Group, a Singaporean medical device firm, which in November 2022, unveiled a Chocolate Touch paclitaxel DCB catheter, a percutaneous transluminal angioplasty (PTA) catheter for superficial femoral artery and popliteal artery disease treatment. This drug-coated balloon catheter is the first and only one of its kind, incorporating administering therapeutic agents on a next-generation angioplasty platform specifically for peripheral artery disease treatment. It incorporates pillow-like structures enveloped with a curative compound that open in minuscule parts, providing an alternative therapy to the conventional drug-coated balloon angioplasty for people afflicted with peripheral artery disease. Consequently, the balloon surface area is expanded, enhancing the efficiency of drug delivery to the vessel wall and negating the necessity for lasting implants.
Which Organizations Are At The Forefront Of The Peripheral Artery Disease Market?
Major companies operating in the peripheral artery disease market include Cardinal Health Inc., Vascular Solutions Inc., Bayer AG, Abbott Laboratories, Medtronic plc., Koninklijke Philips N.V. (Royal Philips), B. Braun Melsungen AG., Terumo Corporation, Edwards Lifesciences, Becton Dickinson and Company (BD), Boston Scientific Corporation Incorporated, Cook Group Incorporated, Merit Medical Systems Inc., NuVasive Inc., Arjo AB, Penumbra Inc., BIOTRONIK SE and Co. KG, AngioDynamics Inc., Shockwave Medical Inc., Cardiovascular Systems Inc., Endologix LLC., LeMaitre Vascular Inc., Silk Road Medical Inc., WL Gore and Associates Inc., MicroPort Scientific Corporation, Bard Peripheral Vascular Inc., Avinger Inc.
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Which Region Holds The Greatest Opportunity For Peripheral Artery Disease Market Expansion?
North America was the largest region in the peripheral artery disease market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the peripheral artery disease market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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