Peripheral Vascular Devices Market Size, Share & Trends Analysis Report By Type (Peripheral Stents, PTA Balloons, Catheters, Endovascular Aneurysm Repair Stent Grafts, Plaque Modification Devices), By Region, And Segment Forecasts, 2024 - 2030

Peripheral Vascular Devices Market Size, Share & Trends Analysis Report By Type (Peripheral Stents, PTA Balloons, Catheters, Endovascular Aneurysm Repair Stent Grafts, Plaque Modification Devices), By Region, And Segment Forecasts, 2024 - 2030

Peripheral Vascular Devices Market Growth & Trends

The global peripheral vascular devices market size is expected to reach USD 14,839.0 million by 2030 and is projected to grow at a CAGR of 6.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. One of the main factors propelling the market growth is the rising prevalence of venous disorders or Chronic Venous Insufficiency (CVI). Its adoption is also being accelerated by the growing elderly population and the rising demand for minimally invasive endovascular operations, novel product launch, mergers, and collaborations by the key market players for business expansion are some of the factors that boosts the market growth.

IVC filters, hemodynamic flow alteration, EVAR stent-grafts, angiography catheters, and plague modification devices are some of the devices utilized in peripheral endovascular and coronary procedures, as well as for treating peripheral arterial or coronary arterial disease. These tools are used during surgery to reduce patient interference with the least amount of disruption. The market demand for peripheral vascular devices is significantly influenced by the rising need for less invasive procedures for the treatment of vascular disease. Patients are more likely to prefer minimally invasive procedures since they speed up or aid the healing process, lessen patient trauma, and necessitate shorter hospital stays.

For instance, in February 2020, HonorHealth, a premier healthcare provider in the Valley that provides care to 1.6 million residents of the greater Phoenix area, announced today that its Cardiovascular Center of Excellence has made a significant advancement in the treatment of peripheral arterial disease (PAD). It is a common cardiovascular condition that affects more than 10 million people in the country. A patient with a completely blocked femoral artery underwent surgery as part of a DETOUR II clinical trial. The treatment was a percutaneous (skin puncture) bypass. Up to 200 patients were accepted for the research, which might result in FDA approval for the treatment. Without cutting open or making incisions in the leg, a peripheral percutaneous bypass procedure was conducted on a patient with advanced PAD. This makes such surgery minimal invasive and possibly riskier than the conventional approach. The DETOUR II treatment involved the use of stent grafts that run via the femoral vein, bypassing the damaged section of the femoral artery and, in essence, providing a bypass so that blood can flow freely to the patient's lower limb once more.

Moreover, minimally invasive procedures tend to minimize the post-surgery complications and reduce the mortality rates. Some of these procedures including balloon angioplasty, drug-eluting technologies, excisional atherectomy or laser ablation are significant in improving quality of life. As a result, these advantages are anticipated to raise market demand for peripheral vascular devices.

Increased patient awareness and healthcare spending, as well as higher acceptance rates of minimally invasive surgery, all contribute to its significant market share. In addition, the industry as a whole is anticipated to benefit from the rapid expansion of healthcare infrastructure and rising healthcare spending in emerging regions. Moreover, novel product launches by the key players boost the market. For instance, in January 2022, a new drug-eluting stent for below the knee (BTK) manufactured by Cook Medical was given Breakthrough Device classification by the US Food and Drug Administration (FDA). This innovation is meant to treat patients with persistent ischemia that poses a hazard to their limbs.

Peripheral Vascular Devices Market Report Highlights

• Based on type, the peripheral stents segment held the market with the largest revenue share of 26.0% in 2023, owing to the improvements in stent technology and the rising adoption of less invasive procedures
• Based on type, the peripheral accessories segment is anticipated to grow at the fastest CAGR over the forecast period. This is due to the presence of larger number of suppliers of peripheral accessories in the market as well as developing countries such as India and China offering low-cost supplies for these products. In addition to this, there is increasing demand for balloon inflation devices used for balloon angioplasty owing to the less risk and complications post-surgery, which is further driving the market growth
• North America dominated the market with the revenue share of 39.52% in 2023. The market is driven by factors like the rising prevalence of cardiovascular disorders and the growing elderly population
• Asia Pacific is anticipated to witness at the fastest CAGR over the forecast period. This is due to the increased public awareness of the need for prompt diagnosis and treatment, as well as improvements in peripheral vascular and cardiology technology in the region

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