Peripheral Vascular Devices Market Size, Share, Industry Trends and Forecast to 2030

Peripheral Vascular Devices Market Size & CAGR in 2021

The global peripheral vascular devices market is projected to reach a size of USD 14.21 billion by the end of 2021, with a compound annual growth rate (CAGR) of 5.3% during the forecast period. The increasing prevalence of peripheral artery diseases (PADs) and the growing geriatric population are significant factors contributing to the market's growth.

COVID-19 Impact on the Peripheral Vascular Devices Market

The COVID-19 pandemic has had a mixed impact on the peripheral vascular devices market. While the initial stages of the pandemic led to a slowdown in elective procedures and a decline in the market, the increasing focus on managing cardiovascular diseases and the resumption of healthcare services has led to a gradual recovery in the market.

Peripheral Vascular Devices Dynamics

The peripheral vascular devices market is driven by factors such as the rising prevalence of PADs, technological advancements in devices, and the increasing adoption of minimally invasive procedures. However, challenges such as stringent regulatory requirements and high procedure costs may hinder market growth.

Segments and Related Analysis

The peripheral vascular devices market is segmented based on product type, application, and end-user. Product types include stents, catheters, angioplasty balloons, and others. Applications of these devices include peripheral artery disease, deep vein thrombosis, and others.

By Region Analysis

In terms of regional analysis, North America holds the largest market share in the peripheral vascular devices market, followed by Europe and Asia Pacific. The increasing prevalence of cardiovascular diseases and the presence of key market players drive market growth in these regions.

Key Market Players and Competitive Landscape

Key players in the peripheral vascular devices market include Medtronic, Boston Scientific Corporation, Abbott Laboratories, Cook Medical, and Terumo Corporation. These companies focus on product development, strategic partnerships, and mergers and acquisitions to maintain their market position.

Recent Happenings in the Peripheral Vascular Devices Market

- In May 2022, Medtronic announced the launch of a new peripheral vascular device for the treatment of PADs. - In June 2022, Boston Scientific Corporation received FDA approval for a new catheter system for peripheral artery disease treatment. - In July 2022, Abbott Laboratories unveiled a new stent technology for the treatment of blockages in peripheral arteries. - Cook Medical introduced a novel angioplasty balloon for the treatment of deep vein thrombosis in August 2022. - Terumo Corporation announced a partnership with a leading healthcare provider to enhance access to peripheral vascular devices in September 2022.