Peripheral Vascular Devices Market Size Is Anticipated To Reach USD 11,574.4 Million By 2030

 San Francisco, 6 July 2023: The Report Peripheral Vascular Devices Market Size, Share & Trends Analysis Report By Type (Peripheral Stents, PTA Balloons, Catheters, Endovascular Aneurysm Repair Stent Grafts, Plaque Modification Devices), By Region, And Segment Forecasts, 2023 - 2030

The global peripheral vascular devices market size is expected to reach USD 11,574.4 million by 2030, to expand at a CAGR of 7.4% from 2023 to 2030 according to a new report by Grand View Research, Inc. One of the main factors propelling the expansion of this market for peripheral vascular devices and accessories is the rising prevalence of venous disorders or Chronic Venous Insufficiency (CVI). Its adoption is also being accelerated by the growing elderly population and the rising demand for minimally invasive endovascular operations, novel product launch, mergers, and collaborations by the key market players for business expansion are some of the factors that boosts the market growth.

IVC filters, hemodynamic flow alteration, EVAR stent-grafts, angiography catheters, and plague modification devices are some of the devices utilized in peripheral endovascular and coronary procedures as well as for treating peripheral arterial or coronary arterial disease. These tools are used during surgery to reduce patient interference with least amount of disruption. The market demand for peripheral vascular devices is significantly influenced by the rising need for less invasive procedures for the treatment of vascular disease. Patients are more likely to prefer minimally invasive procedures since they speed up or aid the healing process, lessen patient trauma, and necessitate shorter hospital stays.

For instance, in February 2020 , HonorHealth, a premier healthcare provider in the Valley that provides care to 1.6 million residents of the greater Phoenix area, announced today that its Cardiovascular Center of Excellence has made a significant advancement in the treatment of peripheral arterial disease (PAD). It is a common cardiovascular condition that affects more than 10 million people in the country. A patient with a completely blocked femoral artery underwent surgery as part of a DETOUR II clinical trial. The treatment was a percutaneous (skin puncture) bypass. Up to 200 patients were accepted for the research, which might result in FDA approval for the treatment. Without cutting open or making incisions in the leg, a peripheral percutaneous bypass procedure was conducted on a patient with advanced PAD. This makes such surgery minimal invasive and possibly riskier than the conventional approach. The DETOUR II treatment involved the use of stent grafts that run via the femoral vein, bypassing the damaged section of the femoral artery and, in essence, providing a bypass so that blood can flow freely to the patient's lower limb once more.

Moreover, minimally invasive procedures tend to minimize the post-surgery complications and reduce the mortality rates. Some of these procedures including balloon angioplasty, drug-eluting technologies, excisional atherectomy or laser ablation are significant in improving quality of life. As a result, these advantages are anticipated to raise market demand for peripheral vascular devices.

Increased patient awareness and healthcare spending, as well as higher acceptance rates of minimally invasive surgery, all contribute to its significant market share. In addition, the industry as a whole is anticipated to benefit from the rapid expansion of healthcare infrastructure and rising healthcare spending in emerging regions. Moreover, novel product launches by the key players boost the market. For instance, in January 2022 , a new drug-eluting stent for below the knee (BTK) manufactured by Cook Medical was given Breakthrough Device classification by the US Food and Drug Administration (FDA). This innovation is meant to treat patients with persistent ischemia that poses a hazard to their limbs.

The COVID-19 pandemic had a negative impact on elective treatment, surgeries and the diagnostic procedures. As per the research studies, people having cardiac disorders were more prone of getting infected with SARS-CoV-2 virus. For instance, as per the research article ‘Impact of COVID-19 on cardiac procedure activity in England and 30-day mortality’ by National Center for Biotechnology Information published in May 2021 , the cardiac surgeries and procedure rate was decreased by

45,000 surgeries with no risk of mortality during COVID-10 pandemic in England. Therefore, the cardiology sector had a negative impact of COVID-19 pandemic.

Moreover, the requirement for arterial blockage therapy for patients with cardiac diseases has resulted in the rise in emergency and critical care admissions, and this is what is anticipated to fuel the expansion of the market for peripheral vascular devices throughout the course of the analysis period. Also, the increasing demand for minimal invasive procedures and increasing incidence of PAD boost the peripheral vascular devices market.

Access Research Report of Peripheral Vascular Devices Market @ https://www.grandviewresearch.com/industry-analysis/peripheral-vascular-devices-market

Peripheral Vascular Devices Market Report Highlights

• In 2022, the peripheral stents segment held majority share of 25.7% owing to the improvements in stent technology and the rising adoption of less invasive procedures.
• The peripheral accessories segment is anticipated to grow at a fastest rate over the forecast period. This is due to the presence of larger number of suppliers of peripheral accessories in the market as well as developing countries such as India and China offering low-cost supplies for these products. In addition to this, there is increasing demand for balloon inflation devices used for balloon angioplasty owing to the less risk and complications post-surgery, which is further driving the market.
• North America held the largest share of 39.7% in 2022. The market is driven by factors like the rising prevalence of cardiovascular disorders and the growing elderly population.
• Asia Pacific is anticipated to witness fastest growth over the forecast period. This is due to the increased public awareness of the need for prompt diagnosis and treatment, as well as improvements in peripheral vascular and cardiology technology in the region.

Peripheral Vascular Devices Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 7,000 million
Revenue forecast in 2030	USD 11,574.4 million
Growth rate	CAGR of 7.4% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

List of Key Players of Peripheral Vascular Devices Market

• Abbott Laboratories
• Angioscore Inc.
• Edward Lifesciences Corporation
• Medtronic Inc.
• Jude Medical
• Teleflex Medical
• Volcano Corporation
• Boston Scientific Corporation
• Teleflex Medical
• Cook Group Inc.
• Cordis Corporation
• Covidien
• L.Gore and Associates Ltd.

Access Press Release of Peripheral Vascular Devices Market @ https://www.grandviewresearch.com/press-release/global-peripheral-vascular-devices-market