Vascular Screening Devices Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Vascular Screening Devices Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Key Highlights

• The vascular screening devices market is expected to register a CAGR of 5.9% during the forecast period. The growing burden of vascular diseases and the rising geriatric population may be the key factors in the vascular screening devices market. Peripheral artery disease is a condition wherein the peripheral vessels are built up with fat and cholesterol deposits. According to the Current Atherosclerosis Reports, in 2018, peripheral artery disease had been affecting almost 200 million people globally. Moreover, peripheral artery disease is more prevalent in the older population. According to a similar source, the incidence of peripheral artery disease has been observed to increase by approximately 20% in the population aged 70 and over.
• Moreover, the rising awareness about the non-invasive techniques for diagnostic purposes is expected to drive the market studied. Ankle, Branchial Index (ABI), toe-branchial index, and photoplethysmogram are some of the non-invasive techniques used for the diagnosis of vascular diseases.
• According to the study, in 2018, published in Annals of Vascular Surgery, these tests had been observed to be less painful for patients and consumed less time. Hence, such factors are expected to propel the vascular screening devices market's growth.

Portable vascular screening tests are hand-held devices, which are in the screening tests, which have been becoming popular due to the rising burden of cardiovascular disease and other vascular conditions. According to the World Health Organization, in 2017, approximately 17.9 million people died due to cardiovascular diseases, and it had been the leading cause of death globally. For several cardiovascular diseases, vascular screening tests become very important for further analysis and treatment.

Furthermore, according to the assessment study of the International Journal of Cardiology, 2019, it had been observed that the handheld device accurately measured the maximum plaque height and total plaque area in the carotid artery. Hence, early diagnosis and treatment are of utmost importance, which is expected to impact positively on the vascular screening test market.

North America expected to hold a major market share in the global vascular screening devices market, due to increased vascular diseases, such as coronary artery disease, renal artery diseases, and carotid artery aneurysm, among others. Coronary artery disease is the most affected heart disease. According to the Center for Disease Control and Prevention, in 2017, around 365,914 people died due to coronary artery disease in United States. Furthermore, in 2019, around 18.2 million population aged 20 and above had coronary artery disease. Hence, the aforementioned factors are expected to boost up the demand for vascular screening devices in North America.

In the current scenario, few of the companies that are dominating the vascular screening devices market are FUnited Kingdomuda, Unetixs Vascular Inc., Collaborative Care Diagnostics LLC (Biomedix), CorVascular Diagnostics LLC, Koven Technology Inc., D.E. Hokanson Inc., enverdis GmbH, OMRON HEALTHCARE Co. Ltd, Viasonix, and Shenzhen Mindray Bio-Medical Electronics Co. Ltd.

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