The growth of this market is driven by rapid growth in the geriatric population and the subsequent increase in the prevalence of peripheral vascular diseases, favorable reimbursement scenario for peripheral vascular procedures, Increased number of product approvals, increased prevalence of diabetes, and rising rate of tobacco consumption.
The global peripheral vascular devices market size is projected to reach USD 13.4 billion by 2026 from USD 10.3 billion in 2021, at a CAGR of 5.3% from 2021 to 2026.
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Hemodynamic flow alteration devices in the product segment to witness the highest growth during the forecast period.
Based on the product, the peripheral vascular devices market is segmented into angioplasty balloon, angioplasty stent, catheters, endovascular aneurysm repair stent grafts, inferior vena cava filters, plaque modification devices, hemodynamic flow alteration devices, other peripheral vascular devices. The Embolic Protection Devices segment is projected to grow at the highest CAGR during the forecast period. The major factors contributing to the growth of this market are increasing investments in new technology development and the growing number of regulatory approvals for these devices, and venture capital funding for the development of advanced EPDs.
North America dominates the global peripheral vascular devices market.
The peripheral vascular devices market is segmented into four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. In 2021, North America accounted for the largest share of the peripheral vascular devices market. The large share of North America can be attributed to the growth in the geriatric population and the high prevalence of peripheral vascular diseases. Furthermore, the presence of key market players in this region ensures high access to medical devices
The major players in the peripheral vascular devices market Medtronic (Ireland), Boston Scientific Corporation (US), Abbott (US), Becton, Dickinson and Company (US), Terumo Corporation (Japan), Cardinal Health (US), B. Braun Melsungen AG (US), Merit Medical Systems (US), Penumbra, Inc.(US), Koninklijke Philips N.V.( Netherlands), iVascular S.L.U (Spain), Biosensors International Group Ltd. (Singapore), BIOTRONIK (Germany), AMG International GmbH (US), ENDOCOR GmbH (Germany).
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