(EMAILWIRE.COM, October 12, 2024 ) The Peripheral Vascular Devices Market is projected to reach USD 14.73 billion by 2029 from USD 11.43 billion in 2024, at a CAGR of 5.2% during the forecast period.
Several factors drive growth in this peripheral vascular devices market. A pertinent factor is the incidence of peripheral artery disease and other vascular diseases, which is rising, primarily because of an aging population but also due to risk factors such as diabetes, hypertension, and obesity. It is quite natural that, as these conditions become more common worldwide, the demand for effective treatments will increase, namely, stents, balloons, and catheters. These devices also become more attractive to patients and healthcare providers because of technological advancements in device design, including better patient outcomes and minimally invasive procedures that reduce recovery time and complications through drug-eluting stents.A better method of screening, which has led to a much higher awareness and diagnosis of peripheral vascular diseases, reflects the fact that interventions can occur much earlier. This, therefore, increases the total procedures that will require peripheral vascular devices in general.
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Based on type, the Peripheral vascular devices Market is segmented into Angioplasty balloons, Angioplasty stents, Catheters, Endovascular aneurysm repair stent grafts, Inferior cava filters, Plaque modification devices, Hemodynamic flow alteration devices, and Other peripheral vascular devices. Peripheral vascular devices markets are dominated by angioplasty stents and relate to the high prevalence of peripheral artery disease, often seen in millions worldwide, where it causes narrowing or blockage in the peripheral arteries, especially the legs. “Stents are used in combination with balloon angioplasty to help restore blood flow by propping open narrowed arteries from plaque buildup,” according to End. Their ability to maintain the arteries open and prevent re-stenosis of the arterial lumen following the placement of a stent has made them one of the most sought-after treatments for PAD, increasing the growing demand in the peripheral vascular market.
Drug-eluting stents have further solidified the primary position of angioplasty stents on the market. The Eluvia Drug-Eluting Vascular Stent, like other drug-eluting stents, release medication that stops the overgrowth of tissue within the artery, ensuring that the arteries do not once again close off. This would imply better long-term results than the traditional stents for the patients, hence making these more appealing to the healthcare providers. In addition to this, stents also offer a minimally invasive treatment mode that is essential to shorter recovery times for the patients, lower procedural risks than open surgery and another reason for its broad acceptance in clinical practice.
Angioplasty stents are flexible and can be used in a variety of vascular conditions, such as CLI and renal artery stenosis; they are truly an all-around solution for peripheral vascular interventions. Additionally, their ability to improve patient outcomes while undergoing constant innovations, such as bioabsorbable stents, positions them strongly in the market for peripheral vascular devices. The aged population is increasing, especially in developed countries; this increases the demand for these devices because they are used in treating vascular disease conditions associated with aging, which ensures continued market leadership position.
Based on geography, The Peripheral vascular devices Market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America accounts for the largest share during the forecast period. North America, notably the United States and Canada, has a sophisticated healthcare infrastructure, including well-established hospital systems, healthcare facilities, and broad networks of healthcare providers. The aging population, sedentary lifestyles, and dietary habits all contribute to the increased prevalence of peripheral vascular diseases thereby increasing the demand for peripheral vascular devices.
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The Peripheral Vascular devices market is fragmented. A few strong players in this market are Boston Scientific Corporation (U.S.), Medtronic (U.S), Philips (Japan), Merit Medical Systems (U.S.), Abbott (U.S.), and Terumo Corporation (Japan) among others.
BOSTON SCIENTIFIC CORPRATION (U.S):
Boston Scientific Corporation is the world’s leader in developing, manufacturing, and marketing medical devices for a variety of health sciences. Those include peripheral vascular interventions and interventional cardiology, along with endoscopy and many others. Under the peripheral vascular devices section, the company provides a wide portfolio of pioneering products that are designed to treat diseases of the vascular system. These include drug-eluting stents, atherectomy systems, embolic protection devices, guidewires, catheters, and balloon dilation devices. Peripheral vascular applications of their well-known products include Eluvia Drug-Eluting Vascular Stent System, ROTAPRO Rotational Atherectomy System, AngioJet Thrombectomy System, and Mustang PTA Balloon Catheter. It applies to these complex cases diagnosed for PAD, CLI, and several vascular diseases involving arteries and veins except for the heart and brain.
Boston Scientific continues to build its portfolio through acquisitions that strengthen its presence in vascular devices. Peripheral vascular has among its subsidiaries key contributors, like BTG International-an interventional medicine company focused on vascular diseases and cancer-and Claret Medical with its embolic protection device Sentinel Cerebral Protection System. It should also be noted that Baylis Medical, specialized in advanced cardiology and vascular instruments, was acquired by Boston Scientific Corporation to further build up its interventional suite. Acquisitions give Boston Scientific the ability to provide comprehensive solutions by aiding physicians in the treatment of the entire continuum of vascular conditions.
Terumo Corporation (Japan):
Terumo Corporation is a Tokyo, Japan-based company, especially named for its excellence in the concepts of cardiovascular and vascular care. Peripheral vascular devices, as part of their extensive offerings, emphasize the treatment of PAD (peripheral artery disease), DVT (deep vein thrombosis), and other arterial and venous conditions outside the heart and brain. Products include minimally invasive technologies to advanced therapeutic systems, aiding physicians in efforts to improve patient outcomes while minimizing complications of vascular diseases. Some of the products offered by Terumo Corporation in the peripheral vascular devTerumo’s subsidiaries have complemented the company’s strong push in the global peripheral vascular market. Of the most important of these, Terumo Interventional Systems (TIS) is actively developing technologies for vascular access, embolization, and peripheral vascular interventions. MicroVention, Inc., another Terumo subsidiary, is primarily engaged in neurovascular interventions, though they have products complementary to Terumo’s vascular portfolio, especially in embolization and microcatheter technologies. In addition, Terumo Medical Corporation is responsible for the development and distribution of Terumo’s interventional products in key markets and supports the further growth of the company’s business in the global peripheral vascular market.
Medtronic (U.S):
Medtronic is one of the world’s largest medical technology companies, renowned for its innovative medical devices and therapies across various healthcare sectors, including cardiovascular, neurosurgery, diabetes, and vascular interventions. In the peripheral vascular devices market, Medtronic plays a pivotal role by offering a wide range of products designed to treat peripheral artery disease (PAD), deep vein thrombosis (DVT), and other conditions affecting the peripheral vasculature. Medtronic’s cutting-edge devices assist healthcare professionals in restoring blood flow and improving patient outcomes in cases involving narrowed or blocked arteries outside the heart and brain. The company offers IN.PACT Admiral drug-coated balloon, vascular stents, Atherectomy systems, and Endovascular aneurysm repair stents among others.
Medtronic’s leadership in the peripheral vascular market is further enhanced by its subsidiaries and strategic acquisitions. Covidien, a major acquisition, has significantly bolstered Medtronic’s portfolio in the vascular space. Covidien brought products such as ClosureFast and Venaseal, which are used for treating chronic venous insufficiency. Additionally, Aptus Endosystems, which specializes in endovascular aneurysm repair technologies, complements Medtronic’s offerings with its Heli-FX EndoAnchor System. Another critical acquisition is Ardian, which focuses on renal denervation, contributing to Medtronic’s advanced therapeutic solutions for vascular conditions
