Peripheral Vascular Devices Industry: Trends, Business Strategies

Posted by Nicky Arora on January 6th, 2020

The global Peripheral Vascular Devices Market is expected to reach USD 8,918.8 million by 2020, growing at an estimated CAGR of 7.2% from 2014 to 2020, according to a new study by Grand View Research, Inc. Peripheral vascular devices such as IVC filters, angiography catheters and plague modification devices are used for treating peripheral arterial or coronary arterial diseases caused due to the formation of atherosclerotic plaques in arteries. These devices are used to decrease the interference of patients with minimum disturbance during the surgical procedure.

Increasing global geriatric population base triggering incidence rates of target diseases, extensive presence of both private and public external funding programs, changing lifestyle and eating habits are expected to be key driving factors for this market over the next six years. In addition, presence of untapped growth opportunities in emerging markets such as India, Brazil and China and increasing health awareness are also expected to serve this market as future growth opportunities.

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Further key findings from the study suggest:

·         Peripheral vascular stents dominated the peripheral vascular devices market in terms of share at over 30.8% in 2013; driven by increasing demand for drug eluting and bio-absorbable stents. Moreover, the ability of these devices to significantly reduce re-stenosis rates is expected to boost product demand.

·         Embolic protection devices market is expected to grow at the fastest CAGR of 9.2% during the forecast period; owing to increasing demand for minimally invasive endovascular surgical method for removing atherosclerosis from large blood vessels.

·         North America was the largest regional market in 2013, accounting for 40.3% of the global revenue. Presence of sophisticated healthcare infrastructure, high patient awareness levels, healthcare expenditure and high R&D pertaining to drug discovery and development are some of the factors accounting for its large share.

·         Asia Pacific peripheral vascular devices market is expected to grow at the fastest CAGR of 10.0% from 2014 to 2020; primarily owing to the wide presence of unmet medical needs coupled with rapidly improving healthcare infrastructure in emerging markets of India and China.

·         Key industry participants of this market include Abbott Laboratories, Angioscore Inc., Edward Lifesciences Corporation, Medtronic Inc., St. Jude Medical, Teleflex Medical, Volcano Corporation, Boston Scientific Corporation, Teleflex Medical, Cook Group Inc., Cordis Corporation, Covidien, W.L.Gore and Associates Ltd. and Angioscore Ltd.

·         Grand View Research has segmented the peripheral vascular devices market on the basis of product and region:

Peripheral Vascular Devices Product Outlook

·         Peripheral Vascular Stents

·         Peripheral Transluminal Angioplasty Balloon Catheters

·         PTA Guidewires

·         Atherectomy Devices

·         Chronic Total Occlusion Devices

·         Aortic Stents

·         Synthetic Surgical Grafts

·         Embolic Protection Devices

·         Inferior Vena Cava Filters

Peripheral Vascular Devices Regional Outlook

·         North America

·         Europe

·         Asia Pacific

·         RoW

About Grand View Research:

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 compnies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.

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