Global Peripheral Artery Disease Market Size Study, by Product Type (Devices, Drugs), by End User (Hospitals, Specialty Clinics, Ambulatory Surgery Centers), and Regional Forecasts 2022-2032

Global Peripheral Artery Disease Market Size Study, by Product Type (Devices, Drugs), by End User (Hospitals, Specialty Clinics, Ambulatory Surgery Centers), and Regional Forecasts 2022-2032

Global Peripheral Artery Disease Market is valued at approximately USD 4.5 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 7.7% over the forecast period 2024-2032. Peripheral artery disease (PAD) is characterized by the narrowing or blockage of the arteries, primarily in the legs, due to the buildup of fatty deposits called plaque. This condition restricts blood flow to the limbs, causing symptoms such as leg pain, cramping, weakness, and numbness, particularly during physical activity. PAD is linked to other cardiovascular conditions like coronary artery disease, heart attack, and stroke, sharing common risk factors such as smoking, diabetes, high blood pressure, and high cholesterol levels. The treatment for PAD focuses on symptom management, complication prevention, and improved circulation.

The market growth for peripheral artery disease is significantly driven by the rising prevalence of the condition. According to a 2023 report by the National Library of Medicine, PAD affects over 200 million adults globally. Additionally, the adoption of minimally invasive procedures is expected to substantially contribute to market growth. The peripheral artery disease market is poised for substantial expansion due to the increase in PAD prevalence, the surge in the geriatric population, and technological advancements in PAD treatment devices. The American College of Cardiology estimated that around 200 million people worldwide were affected by PAD in 2023, a rise attributed to factors such as increasing obesity and diabetes rates, as well as lifestyle-related risk factors like smoking and sedentary behaviors. The World Health Organization reported that in 2022, 1 in 8 people globally were living with obesity, further escalating the incidence of PAD. However, the high initial investment and limited accessibility in developing regions are the key challenging factors that are hampering the market growth during the estimated period of 2024-2032. The global obesity epidemic and the prevalence of diabetes significantly contribute to the rising cases of PAD, as both conditions are strongly associated with its development and progression. Unhealthy lifestyle habits like smoking and physical inactivity further exacerbate the risk, increasing the burden of PAD worldwide. The growing incidence of PAD has led to a heightened demand for effective treatment options, thereby driving market growth. Additionally, the aging population is expected to propel market growth. As individuals age, their risk of developing PAD increases significantly. According to a 2023 article by the Institute of Health Metrics and Evaluation, the global prevalence of PAD was higher among older adults. Aging causes structural and functional changes in blood vessels, including arterial stiffening, endothelial dysfunction, and the accumulation of atherosclerotic plaque, all contributing to PAD development and progression.

The rising prevalence of PAD among the elderly population underscores the urgent need for effective management strategies and healthcare interventions tailored to their unique needs. Healthcare providers and policymakers are increasingly recognizing the importance of early detection, comprehensive risk factor management, and timely intervention to minimize the impact of PAD on elderly individuals. Technological advancements in minimally invasive surgeries are expected to drive market growth. These surgeries offer less invasive alternatives to traditional open surgeries, resulting in reduced patient discomfort, shorter hospital stays, faster recovery times, and improved outcomes. The development of sophisticated catheter-based devices and techniques has expanded the range of minimally invasive treatment options for PAD. These include advanced angioplasty balloons, drug-coated balloons, atherectomy devices, and stents specifically designed for peripheral vascular interventions, offering greater flexibility, deliverability, and efficacy.

The key regions considered for the global EV Transmission System Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America accounted for a major share of the peripheral artery disease market in 2023, attributed to a well-developed healthcare infrastructure, the strong presence of major key players, and the rise in PAD prevalence. Whereas, Asia-Pacific is expected to register the highest CAGR during the forecast period due to the increasing geriatric population and developing healthcare infrastructure.

Major market players included in this report are:

Philips N.V.

Braun Melsungen AG

Medtronic

Bayer AG

Boston Scientific Corporation

Becton Dickinson and Company

Terumo Medical Corporation

Biotronik

Cardinal Health

Abbott

Johnson & Johnson

Cook Medical

AngioDynamics

Endologix

Shockwave Medical

The detailed segments and sub-segment of the market are explained below:

By Product Type:
• Devices
• Drugs

By End User:
• Hospitals
• Specialty Clinics
• Ambulatory Surgery Centers

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• ROE

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• RoAPAC

Latin America
• Brazil
• Mexico

Middle East & Africa
• Saudi Arabia
• South Africa
• RoMEA

Years considered for the study are as follows:

Historical year – 2022

Base year – 2023

Forecast period – 2024 to 2032

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.