Peripheral Vascular Devices Market Revenue, Demand, Opportunity, Segment and Key Trends 2019
[190 Pages Report] The peripheral vascular devices market is projected to reach USD 14.4 billion by 2024 from USD 10.3 billion in 2019, at a CAGR of 6.8% during the forecast period.
According to the new market research report "Peripheral Vascular Devices Market by Type (Angioplasty Balloon, Stent, Catheters (Angiography, IVUS), Plaque Modification (Atherectomy, Thrombectomy), Hemodynamic Flow Alteration (Embolic Protection), IVC Filters, Guidewires) - Global Forecast to 2024", published by MarketsandMarkets™.
Growth in this market is largely driven by the rapid growth in the geriatric population and the associated increase in the prevalence of peripheral vascular diseases, approval of new and advanced products, and the growing preference for minimally invasive surgeries.
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The angioplasty balloons market is segmented into old/normal balloons, cutting and scoring balloons, and drug-eluting balloons. In 2018, the old/normal balloons segment accounted for the largest share of the angioplasty balloons market. The large share of this segment can be attributed to the large number of plain old balloon angioplasty (POBA) procedures carried out across the globe.
The plaque modification devices market is segmented into atherectomy devices and thrombectomy devices. In 2018, the atherectomy devices segment accounted for the largest share of the plaque modification devices market, mainly due to the increasing incidence of atherosclerosis as a result of the rising global prevalence of obesity.
North America accounted for the largest share of the peripheral vascular market in 2018. The large share of this segment can primarily be attributed to the rising incidence of cardiovascular diseases, growing geriatric population, and the strong presence of industry players in the region.
These leaders also have products for all end users in this market, a strong geographical presence, and a focus on continuous product innovation. Key industry players launched innovative products to maintain and enhance their position in the peripheral vascular devices market.
Some of the major players in the peripheral vascular devices market include Medtronic (Ireland), Boston Scientific Corporation (US), Abbott (US), Cardinal Health (US), iVascular (Spain), Becton, Dickinson and Company (US), B. Braun Melsungen (Germany), Terumo Corporation (Japan), Biosensors International Group (Singapore), and BIOTRONIK SE & Co. KG (Germany).
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