Growth in this market is driven by the rising global prevalence of peripheral artery diseases, increasing geriatric population, and rising prevalence of diabetes. On the other hand, the availability of alternative treatments and product failures and recalls are the major factors that are expected to restrain the growth of this market during the forecast period.
What the Market Looks Like?
Predicted to grow at a CAGR of 6.8% during the forecast period, the global Peripheral Vascular Devices Market is estimated to reach USD 14.4 Billion by the end of 2024. In 2018, North America formed the largest market segment
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What Drives the Market?
The growth of the global market for Peripheral Vascular Devices is primarily influenced by the following factors:
- Rapid Growth in the Geriatric Population and the Subsequent Increase in the Prevalence of Peripheral Vascular Diseases
- Product Approvals
- Increasing Prevalence of Diabetes
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Geographical growth scenario of Peripheral Vascular Devices Market
Geographically, North America, Europe, the Asia Pacific, and the Rest of the World (RoW) are the key regional markets for peripheral vascular devices. Of these, North America held the largest market share in 2018, mainly due to the growing geriatric population, a strong base of industry players in the region, and the increasing prevalence of cardiovascular diseases.
Leading market players and strategies adopted
The prominent players in the Peripheral Vascular Devices market include Abbott Laboratories (US), Cardinal Health (US), Biosensors International Group (Singapore), Boston Scientific Corporation (US), iVascular (Spain), Becton, Dickinson and Company (US), Medtronic (US), B. Braun Melsungen (Germany), Terumo Corporation (Japan), and BIOTRONIK (Germany).
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