Peripheral Artery Disease Market Size, Share, Growth Analysis, By Product Type(Peripheral Angioplasty Balloons, Plaque Modification Devices, Peripheral Stents, Peripheral Catheters), By Route of Administration(Oral, Parenteral, Others), By End Users(Hospitals & Clinics, Ambulatory Surgical Clinics, Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2750 | Region: Global | Published Date: August, 2024
Pages: 219 | Tables: 90 | Figures: 68

Peripheral Artery Disease Market News

March 2024, The Freesolv below-the-knee resorbable magnesium scaffold (BTK RMS) by BIOTRONIK has received Breakthrough Device Designation from the FDA to treat chronic limb-threatening ischemia (CLTI), which is the worst form of PAD. This designation aims at fast-tracking the device’s development and approval as there is a lack of adequate treatment options for CLTI with the new therapy being expected to enhance vascular healing and potentially decrease the long-term use of implants.
February 2023, Abbott finalized the takeover of Cardiovascular Systems, Inc. (CSI), a medical device company based in the United States to provide new solutions for treating challenging artery conditions.

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Global Peripheral Artery Disease Market size was valued at USD 4.27 billion in 2022 and is poised to grow from USD 4.66 billion in 2023 to USD 9.28 billion by 2031, growing at a CAGR of 9.80% in the forecast period (2024-2031).

The competitive environment of the global Peripheral Artery Disease market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Bayer AG (Germany) ', 'Abbott Laboratories (USA) ', 'Medtronic (USA) ', 'Boston Scientific (USA) ', 'Cook Medical (USA) ', 'Terumo Corporation (Japan) ', 'C. R. Bard (USA) ', 'Cardinal Health (USA) ', 'Becton, Dickinson and Company (BD) (USA) ', 'AngioDynamics (USA) ', 'Philips Healthcare (Netherlands) ', 'Biotronik (Germany) ', 'Straub Medical (Switzerland) ', 'W. L. Gore & Associates (USA) ', 'Endologix (USA) ', 'Merit Medical Systems (USA) ', 'Kawasumi Laboratories (Japan) ', 'Biosensors International (Singapore) ', 'iVascular (Spain) ', 'Lepu Medical (China) ', 'OptiMed (Germany) '

The escalating number of elderly individuals grappling with diabetes and hypertension stands out as a significant risk factor contributing to the surge in peripheral artery disease (PAD), thereby fueling the market. Geriatric populations are particularly susceptible to the development of vascular complications, with diabetes and high blood pressure exacerbating the risk. These chronic conditions often lead to the narrowing and hardening of arteries, diminishing blood flow to the extremities and increasing the likelihood of PAD.

The increasing prevalence of peripheral artery diseases (PAD) and the concurrent rise in product approvals represent significant factors expected to unlock potential opportunities for the growth of the PAD market in the foreseeable future. The expanding incidence of PAD, characterized by the narrowing of arteries that supply blood to the limbs, emphasizes the critical need for advanced diagnostic and therapeutic solutions. As regulatory bodies continue to approve novel products aimed at addressing the complexities of PAD, the market is poised for expansion. These product approvals reflect advancements in medical technologies, offering innovative approaches for diagnosing, managing, and treating PAD.

North America currently holds a dominant position in the peripheral artery disease (PAD) market, driven by continuous advancements in the latest technologies. The region's commitment to technological innovation contributes significantly to the growth of the PAD market, as it fosters the development of cutting-edge diagnostic and therapeutic solutions. Additionally, the introduction of innovative drug molecules aimed at enhancing treatment procedures further augments the market's expansion in North America throughout the forecast period.

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