Peripheral vascular devices market generated $4.5 billion in global revenue in 2021, and it is predicted that this market will grow at a CAGR of 6.6% to reach $8.5 billion by the end of 2032. Persistence Market Research estimates that by 2032, the market for peripheral vascular stents will be worth US$6.6 billion. In total, sales of peripheral vascular devices made up 43.4% of the global stents market’s revenue in 2021.
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From 2012 to 2021, the global peripheral vascular devices market experienced a historic CAGR of 4.4%. Blockage of the blood arteries that deliver blood from the heart to the limbs is known as peripheral vascular disease. The accumulation of fatty plaque in arteries is the main cause of peripheral arterial disease. The market for peripheral vascular devices is expanding as a result of an increase in cases of peripheral arterial disease.
According to the National Library of Medicine (NLM), due to changes in lifestyle habits, smoking, pollution, and other factors, 20% of adults 55 and older have this disease as of 2018.
The peripheral vascular devices market is anticipated to expand as a result of increased attention being paid to the prevention and treatment of peripheral arterial disease in low- and middle-income countries. The prevalence of peripheral arterial disease is increasing, which is driving interest in and demand for interventional cardiology. As the first line of treatment for long-term cardiovascular diseases, angioplasty is performed on patients.
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What is Dampening Market Expansion to a Certain Extent?
“Increasing Threat of Product Recalls in Market”
With advancements in technology, peripheral vascular devices with new and innovative technologies are being developed. However, with the increase in advancements in technologies, many products were recalled by the Food and Drug Administration (FDA) owing to serious adverse health consequences.
Recalls due to failure to deploy, partial deployment, and difficult deployment with high risks such as bleeding and strokes are factors expected to restrain the growth of the market to some extent.
- In April 2013, Cook Medical initiated voluntary recall at a global level of its Zilver PTX drug-eluting peripheral stent.
- In May 2021, Boston Scientific recalled its Vici and Venovo venous stents, which are recommended in the treatment of occlusions and obstructions in veins.
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Peripheral Vascular Devices Market Industry Research Segmentation
Peripheral Vascular Devices Market By Product:
Peripheral Vascular Stents
- Self-Expanding Stents
- Balloon Expanding Stents
- Covered Stents
- Drug Eluting Stents
Drug Eluting Balloons
Peripheral Vascular Bioresorbable Scaffolds
Peripheral Vascular Devices Market By Indication:
- Target Artery Instability (TAI)
- Access Artery Injury (AAI)
- Peripheral Arterial Disease
- Arteriovenous Fistulas
- Peripheral Aneurysms
- Others
Peripheral Vascular Devices Market By Artery Type:
- Carotid Artery
- Fem-Pop Artery
- Iliac Artery
- Infrapop Artery
Peripheral Vascular Devices Market By End User:
- Hospitals
- Ambulatory Surgical Centers/Outpatients
- Cardiac Catheterization Labs
Peripheral Vascular Devices Market By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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