Peripheral Artery Disease Market By Product Type (Devices, Drugs), By End User (Hospitals, Specialty Clinics): Global Opportunity Analysis and Industry Forecast, 2024-2035

Peripheral Artery Disease Market By Product Type (Devices, Drugs), By End User (Hospitals, Specialty Clinics): Global Opportunity Analysis and Industry Forecast, 2024-2035

The global peripheral artery disease market was valued at $4.5 billion in 2023, and is estimated to reach $10.8 billion by 2035, growing at a CAGR of 7.7% from 2024 to 2035. Peripheral artery disease is a condition characterized by the narrowing or blockage of arteries that supply blood to the limbs, typically the legs. This occurs due to the buildup of fatty deposits (plaques) in the arteries, a process known as atherosclerosis. As a result, blood flow to the legs is restricted, leading to symptoms such as leg pain, cramping, numbness, and weakness, particularly during physical activity. Treatment for peripheral artery disease aims to manage symptoms, prevent complications, and improve blood flow. Procedures or surgeries may be required to open blocked arteries and restore blood flow. These can include angioplasty (where a balloon is used to widen the artery) or stent placement (to keep the artery open).

The peripheral artery disease market growth is attributed to rise in geriatric population, and technological advancements in minimally invasive surgical technology. According to 2022 report by World Health Organization, it was estimated that, the geriatric population (aged 60 and above) is expected to contribute about 22% of global population. As people age, the risk of developing peripheral artery disease rises, especially among those with other cardiovascular risk factors such as diabetes, hypertension, and smoking history. With populations in many countries experiencing a demographic shift towards older age brackets, the incidence and prevalence of peripheral artery disease are expected to escalate. According to the 2023 report by the National Library of Medicine, it was reported that incidence of peripheral artery disease increases to as high as 20% in people over the age of 70. Thus, as the geriatric population has a higher incidence rate of peripheral artery disease, the rise in geriatric population is expected to positively impact the growth of peripheral artery disease market.

In addition, technological advancements in minimally invasive procedures have emerged as a major driver for the peripheral artery disease market, transforming the landscape of diagnosis and treatment. Minimally invasive techniques, such as angioplasty, stenting, and atherectomy, have revolutionized the management of peripheral artery disease by offering safer and more effective alternatives to traditional open surgeries. These procedures involve smaller incisions, reduced trauma to surrounding tissues, shorter recovery times, and lower risk of complications compared to conventional surgical approaches. For instance, Medtronic Plc, a leading medical devices company, provides a complete SE vascular stent system. The complete SE vascular stent system is designed to treat peripheral arterial disease in the superficial femoral arteries and proximal popliteal arteries. The stent is designed to open clogged arteries and restore blood flow by providing support to the artery after angioplasty. Thus, the advantages of minimally invasive procedures such as shorter hospital stays and reduced physical trauma (caused in traditional open surgery) are expected to drive the growth of the market.

The peripheral artery disease market is segmented by product type, end user, and region. By product type the market is bifurcated into drugs and devices. By end user, the market is divided into hospitals, specialized clinics and ambulatory surgeries centers. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA). Major key players that operate in the peripheral artery disease market are Philips N.V., Braun Melsungen AG, Medtronic, Bayer AG, Boston Scientific Corporation, Becton Dickinson and Company, Terumo Medical Corporation, Biotronik, Cardinal Health, Abbott. Key players have adopted product approval as a key developmental strategy to improve the product portfolio of the peripheral artery disease market

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the peripheral artery disease market analysis from 2023 to 2035 to identify the prevailing peripheral artery disease market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the peripheral artery disease market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global peripheral artery disease market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Product Type

Devices
Devices type
Peripheral Angioplasty Balloons
Peripheral Stents
Peripheral Catheters
Inferior Vena Cava Filters
Plaque Modification Devices
Hemodynamic Flow Alteration Devices
Peripheral Accessories
Drugs
Drug Type
Antiplatelet medicines
Statins
Anti Hypertensive Medication
Others

By End User

Specialty Clinics
Hospitals

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Koninklijke Philips N.V.
B. Braun Melsungen AG
Medtronic
Bayer AG
Boston Scientific Corporation
Becton Dickinson and Company
Terumo Medical Corporation
Biotronik SE & Co. KG
Cardinal Health
Abbott Laboratories

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