The “Peripheral Vascular Devices Market Report, Forecast by Device Type, Country and Company Analysis 2024-2032” has been added to ResearchAndMarkets.com. The global peripheral vascular devices market is projected to grow from $12.10 billion in 2023 to $18.47 billion by 2032, reflecting a compound annual growth rate (CAGR) of 4.81% during this period.
Market Growth Factors
The anticipated growth in the peripheral vascular devices market can be attributed to increased device usage and promising advancements in technology.
Market Overview
Peripheral vascular devices are essential for diagnosing and managing blood vessel diseases outside the heart and brain, aiding in the treatment of conditions affecting the arms, legs, and other extremities. These devices, which include stents, catheters, and angioplasty balloons, help address issues like narrowed arteries and varicose veins, improving blood circulation and patient outcomes.
Drivers of Market Growth
- Technological Advancements: The demand for innovative healthcare solutions has spurred growth in the peripheral vascular devices market. Developments such as bioresorbable stents and advanced imaging techniques enhance device efficiency and safety, improving patient recovery times and comfort. Additionally, smart vascular devices with sensors and real-time monitoring are expanding the market’s scope.
- Increasing Prevalence of Vascular Diseases: The rising incidence of conditions like peripheral artery disease and chronic venous insufficiency, often linked to diabetes, hypertension, and obesity, is driving the demand for advanced medical devices.
- Growing Awareness and Diagnosis: Improved public awareness and diagnostic capabilities have led to earlier detection of vascular diseases, encouraging patients to seek treatment sooner. Enhanced imaging and screening technologies allow for accurate diagnoses, resulting in more effective treatment plans.
Regional Insights: North America
The North American market for peripheral vascular devices holds a significant share due to its developed healthcare system, robust R&D activities, and high healthcare expenditure. Government support and increased awareness of vascular diseases also contribute to market growth. Recent product innovations and collaborations, such as Siemens Healthineers’ new catheter launch in March 2022, further highlight the region’s dynamic landscape.
Recent Developments in Peripheral Vascular Devices
- In 2024, Cook Group introduced the Slip-Cath Beacon Tip Hydrophilic Selective Catheter in the U.S. and Canada, designed for various vascular and nonvascular procedures.
- Abbott’s acquisition of Cardiovascular Systems, Inc. (CSI) in 2023 for approximately $890 million aimed to enhance their treatment options for peripheral and coronary artery diseases.
- Teleflex launched a new Arrow Pressure Injectable Midline Catheters portfolio in September 2022 to improve line identification during procedures.
Key Players in the Market
- Abbott Laboratories
- Boston Scientific Corporation
- Becton, Dickinson and Company
- Cook
- Cordis Corporation
- Edward Lifesciences
- Medtronic
- Volcano Corporation
Key Attributes of the Report:
- Pages: 175
- Forecast Period: 2023 – 2032
- Estimated Market Value (2023): $12.1 billion
- Forecasted Market Value (2032): $18.47 billion
- CAGR: 4.8%
- Regions Covered: Global
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