Peripheral Artery Disease Market Scenario
Global Peripheral Artery Disease Market is poised to mature at a CAGR of 4.84% to reach USD 23.62 billion by 2025. The growth of the peripheral artery disease industry is influenced by factors such as rapid growth in the geriatric population and the subsequent rise in the incidence of peripheral artery diseases along with rising drug approvals. In addition , rising diabetes cases are also driving the peripheral artery disease market to grow. Often, the rapidly changing lifestyle behaviors such as poor eating patterns, heavy alcohol intake, obesity , smoking, and lack of physical exercise make people more vulnerable to peripheral artery disease and thus drive market development. The rapid demand growth is also primarily due to high utilization rates of minimally invasive surgery and higher national healthcare spending.
Brand recalls however, and business expansion is hindered by errors. Moreover, most stocks, including the peripheral artery disease market, are declining due to the COVID 19 epidemic. The pandemic has a negative impact on the market for peripheral artery disease, as most countries adopt lockdowns to counter the pandemic. In fact, vascular operations have been limited to cases of life or limb survival in regions seriously impacted by COVID-19, owing to recent government orders or hospital guidance. All these factors are anticipated to impact the peripheral artery disease market as well in the future.
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Peripheral Artery Disease Market Segmental Analysis
The Global Peripheral Artery Disease Market has been analyzed based on Treatment Type and End User. The market, based on the treatment type, has been bifrucated into devices, and drugs. Devices are further segmented into catheters, angioplasty balloon, angioplasty stents (stenting), plaque hemodynamic flow alteration devices, modification devices (atherectomy), and others. Drugs are further sub-segmented into glucose regulating drugs, lipid-lowering drugs, blood pressure-lowering drugs, and blood clot preventing drugs. The global peripheral artery disease market, based on the end-user, has been categorized as ambulatory surgery centers, hospitals and clinics, and others.
Peripheral Artery Disease Market Regional Overview
In 2018 the Americas was the biggest peripheral artery disease market. America ‘s growth is due to the high prevalence rate of diabetes, rising spending on health care and increasing cases of obesity. Furthermore, continually shifting lifestyle habits such as unhealthy dietary habits, increased alcohol consumption , smoking, obesity and lack of physical activity make individuals more vulnerable to peripheral artery disease and drive market growth.
Europe is Western Europe’s second-largest peripheral artery disease market holding the largest market share. Due to rising cardiovascular disorders and increasing cigarette smoking populations, the European market is expected to register a steep growth rate during the forecast period. The growing older population in the European Union is also driving the growth of Europe’s peripheral artery disease market.
Owing to the growing patient pool and increasing technological advances, Asia-Pacific is expected to represent the highest market growth potential over the forecast time period. The Asia-Pacific region ‘s rapid growth is attributed to increasing per capita income and policy programs to boost the quality of healthcare and increased diabetes.. Because of the rising older population China, India , and Australia have a lucrative peripheral artery disease market.
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The peripheral artery disease market in the Middle East & Africa is driven by increasing problems with obesity, rising government initiatives to improve patient care and favorable reimbursement policies.
Peripheral Artery Disease Market Competitive Dashboard
The Prominent Players in the Global Peripheral Artery Disease Market are Cardinal Health (US), Koninklijke Philips NV (Netherlands), Becton, Dickinson, and Company (BD) (US), B. Braun Melsungen AG (Germany), Cook (US), Bayer AG (Germany), Medtronic (Ireland), Boston Scientific Corporation (US), Terumo Medical Corporation (Japan ), Biotronik (Germany), and others.
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