Global Peripheral Vascular Devices Market Latest Update’s Report 2022

Posted by sandeep gade on November 29th, 2022

 The global peripheral vascular devices market was worth US$ 4.5 Bn in 2021 and t is expected to expand at a high CAGR of 6.6% over the forecast period (2022-2032).

As the number of endovascular interventions increases, a decrease in the risks associated with the procedure creates a favorable situation for the treatment of peripheral vascular diseases, both for providers and payers, creating strong opportunities for the peripheral vascular devices market. The introduction of alternatives to surgical revascularization, which was associated with increased cases of acute recoil and a high rate of stenosis, creates a great opportunity for minimally-invasive techniques. The low cost of peripheral stents such as self-expanding and balloon expanding stents is also driving market expansion.

Advancements in endovascular surgeries during the past decades have broadened the options for treating peripheral vascular disease. Endovascular treatment offers lower risk than traditional open surgical treatment. Endovascular procedures have a long-term positive effect on iliac artery disease, which has an increased risk of occurrence in peripheral arterial disease surgeries.

The use of balloons and self-expandable stents is the mainstay in endovascular therapy, along with new technologies such as drug-eluting stents, which have increased the treatment options for complex lesions treated by open surgery. Innovation in techniques for treating vascular diseases increases product preference and an associated rise in the number of surgical procedures, which is also expected to drive the market for peripheral vascular devices in the near future.

Key Takeaways from Market Study

Peripheral vascular stents held 78.5% market share in 2021.

Peripheral arterial disease indications held 30.3% share of the global peripheral vascular devices market in 2021.

The iliac artery segment accounted for 48.1% market share in 2021.

The hospitals segment held a market share of 60.4% in 2021.

Around 38.3% of the global market share, by region, was accounted for by North America in 2021.

“Rising adoption of peripheral angioplasty procedures and availability of cost-effective surgeries will drive market growth over the coming years,” says an analyst of Persistence Market Research.

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