Peripheral Vascular Devices Market Analysis And Forecast To 2031: By product (Interventional Catheters, Guidewires, Stents, PTCA Balloons, Atherectomy Devices, Chronic Total Occlusion Devices, Synthetic Surgical Grafts, Embolic Protection Devices, Inferio

Peripheral Vascular Devices Market Analysis And Forecast To 2031: By product (Interventional Catheters, Guidewires, Stents, PTCA Balloons, Atherectomy Devices, Chronic Total Occlusion Devices, Synthetic Surgical Grafts, Embolic Protection Devices, Inferior Vena Cava Filters), By Application (Congenital Heart Defect Correction, Coronary Thrombectomy, Angioplasty, Valvuloplasty, Percutaneous Valve Repair), By End-use (Hospitals, Ambulatory Surgical Centers), And Region

The global peripheral vascular devices market was valued at USD 19.0 billion in 2021 and it is anticipated to grow up to USD 35.6 billion by 2031, at a CAGR of 6.5% during the forecast period.


Peripheral vascular disease is a blood circulation disorder, which reduces the flow of blood through blood vessels located outside the heart and brain. When these vessels do not supply sufficient blood, it results in the abnormal functioning of organs. Peripheral vascular device are used to measure blood flow from arteries and veins. Peripheral vascular device would be in demand due to its minimally invasive endovascular treatment, rising prevalence of diseases such as diabetes & obesity and growing aging population.

Market Trends and Drivers

The rapid growth in the geriatric population is one of the major factors driving the demand for peripheral vascular devices as this population segment is at a greater risk of developing peripheral vascular diseases, such as atherosclerosis and aneurysms. According to the World Health Organization (WHO), by 2050, the world’s population of people aged 60 years and older will double to 2.1 billion as well as the number of persons aged 80 years or older will triple by 2050 to reach 426 million. As a result, age, genetic, and lifestyle factors can lead to a buildup of plaque in the arteries. Globally, it is estimated that more than 200 million people are suffering from peripheral vascular diseases (Source: National Center for Biotechnology Information (NCBI), 2021). Furthermore, according to the American College of Cardiology 2020, peripheral arterial disease (PAD) affects 8.5 million individuals in the US, and the prevalence of these diseases rises with age and is greater than 20% in the patient population aged above 80 years.

Market Restraints and Challenges

Rise in the availability of alternative treatments may impede the market growth. Anticoagulant medication is considered the first line of treatment for peripheral vascular diseases. The increasing efficacy of new-generation anticoagulants, such as Dabigatran, is resulting in their wide uptake and, in turn, creating major hindrances for the greater uptake of peripheral vascular devices. Also, medications, such as statins, are increasingly being used in the treatment of peripheral vascular diseases. The increasing use of these drugs may reduce the need for surgeries and thereby limit the use of peripheral vascular devices. Moreover, PAD can be treated with medication such as antiplatelet agents, vasodilators, cholesterol-lowering agents, angiotensin-converting enzyme inhibitors, or angiotensin-receptor blockers.

Global Peripheral Vascular Devices Market Segmental Overview

The report analyses the global peripheral vascular devices market based on product, application, end-use, and region.

Global Peripheral Vascular Devices Market by Product

Based on product, it is segmented into interventional catheters, guidewires, stents, PTCA balloons, atherectomy devices, chronic total occlusion devices, synthetic surgical grafts, embolic protection devices, IVC filters and others. Among these, the stent segment accounted for significant market share in 2021. This is owing to innovations in stents such as introduction of bioresorbable stents and stents developed with advanced materials to avoid restenosis. Moreover, growing number of angioplasties in countries such as China and India due to large geriatric pool, high prevalence of cardiac disorders and price capping are poised to push the segment growth. However, over-stenting in countries including the U.S. may limit the market expansion.

Global Peripheral Vascular Devices Market by Application

Based on application, it is segmented into congenital heart defect correction, coronary thrombectomy, angioplasty, valvuloplasty, percutaneous valve repair and others. Among them, the angioplasty segment is expected to experience the fastest growth rate during the forecast period led by rising number of angioplasties in Asian countries. Increasing prevalence of arteriosclerosis, hypertension and other arterial disorders will further augment the demand. Percutaneous valve repair segment is estimated to observe around 9.5% growth rate till 2026. Rising prevalence of valve disorders will highly influence the adoption of percutaneous valve repair procedures. Preference for minimally invasive surgeries assists in driving the demand for such procedures. Additionally, the procedure is suitable in patients that cannot undergo surgery.

Global Peripheral Vascular Devices Market by End-use

Based on end-use, it is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment accounted for significant revenue share in 2021 impelled by developed infrastructure and capacity to spend on advanced and specialized catheterization lab equipment. Numerous hospitals in emerging countries including India are opening cath labs and hybrid cath labs. These new facilities are being equipped with advanced devices and facilities that are proving beneficial for rising number of cardiac patients. Furthermore, hospitals in developed nations are also spending to improve the infrastructure and addition of innovative solutions to their interventional cardio technology.

Geographical Analysis of Global Peripheral Vascular Devices Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific peripheral vascular devices market held significant revenue share in 2021. Japan dominated the APAC market in 2021 on account of increasing number of product approvals. For instance, in September 2019, OrbusNeich announced approval for its COMBO Plus Coronary Stent in Japan. The device approval with novel one of its kind technology will enhance company’s product reach as well as benefit market size. Large geriatric pool, suffering from various chronic diseases will assist the market expansion. With high prevalence of cardiovascular disorders and vulnerability to suffer from comorbidities, adoption of cardiovascular procedures including angioplasty will rapidly increase. Furthermore, growing disposable income and accessibility to specialized cardiac centers will further fuel the regional market value..

Major Players in the Global Peripheral Vascular Devices Market COVID-19 Impact

Globally, the COVID-19 outbreak has impacted every aspect of the medical device industry, including the peripheral vascular devices market. In the last few months, the number of patient visits to hospitals has reduced significantly, despite emergency and outpatient department (OPD) services being available in hospitals. Before commencing any interventional procedure, surgeons run through a series of clinical tests to decide the best treatment for patients. However, due to the lockdown in many countries, patient visits to hospitals have been reduced significantly. As a result, the number of diagnostic tests has reduced. This has further reduced the sales of peripheral vascular devices. Globally, a majority of countries have postponed elective surgeries in order to prevent the spread of COVID-19. Since 70–80% of peripheral vascular interventional procedures are elective, many of these procedures have been postponed. This is another factor negatively impacting the growth of the peripheral vascular devices market. For instance, as per Medtronic’s financial 2021, Aortic, Peripheral & Venous, second-quarter revenue of USD 468 million is by decreased 1.3 % and 1.9 %.


Moreover, medical device manufacturer such as Cardinal Health claims that COVID-19 has negatively impacted its 2021 fiscal year revenue. The medical device segment has lost USD 63 million in the 4th quarter of 2021 due to elevated supply chain costs and an inventory reserve on certain PPE products. Also, closed manufacturing facilities due to lockdowns have disrupted supply chains and reduced recruitments; however, in the COVID-19 pandemic recovery phase 2021, restoring clinical trials will continue to be a challenge because of restricted access at trial sites. Hence further delay in the clinical trials will impact the growth of the overall peripheral vascular devices market in 2021.

Recent Developments

• In June 2022, Cardio Flow, Inc., announces FDA clearance for FreedomFlow® peripheral guidewire, plus first commercial case completed in U.S.
• In March 2022, Artio Medical receives FDA clearance for Solus Gold Embolization Device, a next-generation product for peripheral vascular occlusion.
• In September 2021, Abbott expands peripheral vascular offerings with Acquisition Of Walk Vascular, LLC.
• In 2020, Medtronic received the US FDA approval for its IN. PACT AV drug-coated balloon (DCB) to treat arteriovenous fistula lesions.

Frequently Asked Questions

Q1. How big is the peripheral vascular devices market market?Ans. The global peripheral vascular devices market size was USD 19.0 billion in 2021 and is anticipated to reach USD 35.6 billion in 2031, growing at a rate of 6.5% from 2022 to 2031.
Q2. What is the peripheral vascular devices market growth rate?Ans. The growth rate of the peripheral vascular devices market is 6.5%.
Q3. Which region holds a major market share for the sepsis diagnostics market?Ans. North America holds a major market share of the peripheral vascular devices market in 2021.
Q4. Which segment accounted for the largest peripheral vascular devices market share?Ans. By end user, the healthcare segment accounted for the largest peripheral vascular devices market share.
Q5. Who are the key players in the sepsis diagnostics market?Ans. The global peripheral vascular devices market report includes players such as
Q6. What are the factors driving the peripheral vascular devices market growth?Ans. The major factors driving the growth of the market are the rising incidence of chronic disorders along with minimally invasive surgeries across the globe.
Q7. What are the key growth strategies of peripheral vascular devices market players?Ans. The key growth strategies of peripheral vascular devices market players are product launch and product approval.
Q8. Which regionwill provide more business opportunities for the peripheral vascular devices market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for the peripheral vascular devices market during the forecast period.

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