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The worldwide prevalence of peripheral artery disease, fuelled by changing lifestyle, rising incidences of chronic illnesses, and growing geriatric population, is driving the demand for peripheral artery disease treatment. In addition, the expanding working-class segment and the increased adoption of unhealthy habits such as smoking, excessive alcohol intake, tobacco consumption, and lack of physical exercise, among others, are also expected to contribute to the market growth. Moreover, the development of advanced treatment options, including minimally invasive non-surgical treatments such as endovascular therapies, is also estimated to propel the market growth. In this regard, the rising disposable incomes and the growing economic stability are enhancing the affordability of these treatments. Furthermore, the government initiatives aimed at developing and enhancing the healthcare infrastructure are anticipated to fuel the market growth. Also, the technological advancements in balloon angioplasty with stenting and atherectomy, among others, are resulting in the growth of the market.
The growing expenditure by the leading market players in the development of advanced technological solutions is expected to support the market growth in the forecast years. For instance, in September 2020, AngioDynamics Inc. (NASDAQ: ANGO), a leading manufacturer of minimally invasive medical devices, announced the launch of the Auryon Atherectomy System, an innovative system to treat peripheral artery disease. It uses a comprehensive technology to treat lesions of any type, length, or location with minimal impact on vessel walls. In another case, Abbott Laboratories (NYSE: ABT), in September 2021, announced the acquisition of Walk Vascular, LLC, a medical device company. This acquisition further drives the ability of Abbott to provide patient care and endovascular therapies. Some of Walk Vascular's products include JETi Peripheral Thrombectomy System and next-generation JETi AIO (All in One) Peripheral Thrombectomy System that help remove intervascular clot and allow easy blood flow.
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The major players in the global peripheral artery disease market are AngioDynamics Inc., B. Braun Melsungen AG, Biotronik Inc., and Boston Scientific Corp., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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