Peripheral Interventions Market Size By Product (Catheters, Sheath, Stents {Bare-metal Stents, Drug-eluting Stents}, Guide Wires, Atherectomy Devices, Embolic Devices, Thrombectomy Devices, IVC Filters), By Application (Peripheral Artery Disease, Venous T

Peripheral Interventions Market Size By Product (Catheters, Sheath, Stents {Bare-metal Stents, Drug-eluting Stents}, Guide Wires, Atherectomy Devices, Embolic Devices, Thrombectomy Devices, IVC Filters), By Application (Peripheral Artery Disease, Venous Thromboembolism), By End-use (Hospitals, Catheterization Laboratories, Ambulatory Surgical Centres), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2028

The peripheral interventions market is estimated to grow substantially by 2028 owing to rising incidences of peripheral artery disease. In addition, the expanding geriatric population is likely to further support market growth through the forecast timeline.

Recently, minimally invasive endovascular procedures to enlarge the artery's opening, such as angioplasty or atherectomy, have gained preference as the initial potential therapy for peripheral arterial diseases over bypass surgery. As a result, surging adoption of peripheral intervention has been favorable for market growth.

Additionally, government and key participants of the market have been investing in the development of novel technologies that could better cure peripheral diseases. For instance, in June 2020, Abbott Laboratories, a leading medical devices company, introduced FreeStyle Libre 2, a novel integrated continuous glucose monitoring (iCGM) system that measures glucose levels through a small sensor five times more often than other continuous glucose monitoring (CGM) devices.

Notably, after the COVID-19 outbreak, stringent lockdown restrictions and high risk of exposure to the novel coronavirus in healthcare settings made it challenging to undertake surgeries of critically ill patients with vascular disease. However, with the easing of lockdown restrictions and widespread vaccination drives across the globe, patients have been opting for surgeries for peripheral diseases, which has positively impacted industry growth during the pandemic.

The peripheral interventions market has been segmented on the basis of product, application, end-use, and region. Based on product, the peripheral interventions market has been divided into catheters, IVC filters, thrombectomy devices, sheath, embolic devices, stents, atherectomy devices, guide wires, and others.

The atherectomy devices sub-segment is anticipated to witness robust growth by 2028, registering a CAGR of approximately 8.2% over the assessment timeframe. Favorable medical reimbursement scenario in developed markets and escalating demand for minimally invasive surgical procedures are projected to drive segmental growth over the following years.

In terms of application, the peripheral interventions market has been categorized into peripheral artery disease, venous thrombosis, and others. The venous thrombosis sub-segment was valued at over USD 890 million in 2021 and is projected to see substantial growth over 2022-2028. Increasing prevalence of venous disorders, including DVT, and growing application of peripheral interventions in DVT are likely to contribute to segmental growth through the review period.

From the end-use perspective, the peripheral intervention market has been bifurcated into hospitals, catheterization laboratories, ambulatory surgical centers, and others. In 2021, the catheterization laboratories sub-segment held a revenue share of more than 8.0% in the market and is slated to amass notable gains through 2028. Improving healthcare infrastructure and better diagnostic capabilities are estimated to promote product uptake in catheterization laboratories. Additionally, mounting presence of a skilled workforce, along with increasing investment in catheterization laboratories, is likely to further augment segmental development through the forecast period.

From the regional point of view, Latin America peripheral interventions market is expected to grow at about 8.0% CAGR over the study timeline to reach a sizable valuation by 2028. Expanding geriatric pool, coupled with rising prevalence of vascular disorders, prevalent penetration of companies, and supportive government initiatives, is set to fuel product adoption in LATAM in the future.