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Global Peripheral Artery Disease Market to Grow at a CAGR of 8.5% During 2022-2027, Aided by the Rising Incidences of Peripheral Artery Disease

According to a new report by EMR titled, ‘Global Peripheral Artery Disease Market Report and Forecast 2022-2027’, the market attained a value of more than USD 3.82 billion in 2021. The industry is further expected to grow at a CAGR of 8.5% in the forecast period of 2022-2027 to reach USD 5.26 billion by 2027.

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.

Market Analysis by Type and Region:

  • The peripheral artery disease industry, based on type, can be segmented into peripheral angioplasty balloons, peripheral stents, peripheral catheters, inferior vena cava (IVC) filters, plaque modification devices, haemodynamic flow alteration devices, and peripheral accessories, among others.
  • The regional markets for peripheral artery disease include North America, Europe, the Asia Pacific, Latin America, and the Middle East, and Africa.

Key Findings of the Report:

  • The market is being driven by the increasing demand for effective treatments of peripheral artery disease.
  • The availability of advanced treatment options and the growing healthcare expenditure are further augmenting the market growth.
  • The growing government initiatives to enhance the healthcare infrastructure are further bolstering the market growth.
  • The rapid technological advancements and the growing investments by the key market players in research and development activities are expected to propel the market in the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for peripheral artery disease for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the types and regions of peripheral artery disease.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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.

About Us

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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