Peripheral Vascular Devices Market Size, Share, Growth Analysis, By Product Type(Angioplasty balloons, stents, embolic protection devices, peripheral vascular catheters), By Application(Peripheral artery disease (PAD), deep vein thrombosis (DVT), varicose veins, and arteriovenous fistulas.), By End user(Hospitals, ambulatory surgical centers, and specialty clinics), By Region - Industry Forecast 2024-2031

Peripheral Vascular Devices Market size was valued at USD 10.86 Billion in 2022 and is poised to grow from USD 11.45 Billion in 2023 to USD 17.43 Billion by 2031, at a CAGR of 5.4% during the forecast period (2024-2031).

Peripheral Vascular Devices Market is highly competitive and characterized by the presence of several established players as well as new entrants striving to gain market share. Key players in the market focus on product innovation, strategic collaborations, and mergers and acquisitions to maintain their competitive edge. They invest significantly in research and development activities to introduce advanced and technologically advanced peripheral vascular devices. The competition in the market is driven by factors such as product quality, pricing strategies, distribution networks, and customer relationships. The market players also aim to expand their geographical presence and target emerging markets to tap into the growing demand for peripheral vascular devices. Overall, the competitive landscape of the peripheral vascular devices market is dynamic and intense, with companies continuously striving to meet the evolving needs of healthcare providers and patients worldwide. 'Medtronic (US)', 'Boston Scientific Corporation (US)', 'Abbott Laboratories (US)', 'Cook Medical (US)', 'Cordis Corporation (US)', 'Terumo Corporation (Japan)', 'Becton, Dickinson and Company (US)', 'Johnson & Johnson (US)', 'C.R. Bard (US)', 'Cardinal Health (US)', 'AngioDynamics (US)', 'Penumbra, Inc. (US)', 'W. L. Gore & Associates (US)', 'Endologix (US)', 'MicroPort Scientific Corporation (China)', 'BTG plc (UK)', 'Spectranetics Corporation (US)', 'Teleflex Incorporated (US)', 'Edwards Lifesciences Corporation (US)', 'Lombard Medical Technologies (UK)'

The rising prevalence of cardiovascular diseases, such as peripheral artery disease (PAD) and deep vein thrombosis (DVT), is a significant driver for the peripheral vascular devices market. According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of death worldwide. This increasing burden of cardiovascular diseases creates a growing demand for peripheral vascular devices for diagnosis and treatment.

Growing demand for drug-eluting devices: There is a growing trend in the peripheral vascular devices market towards the use of drug-eluting devices. These devices are designed to deliver therapeutic drugs directly to the affected blood vessels, preventing restenosis (re-narrowing) and reducing the need for repeat interventions. For example, drug-eluting stents release anti-proliferative drugs to inhibit the growth of scar tissue in the artery, improving long-term outcomes for patients.

North America dominated the market. Renowned for its robust healthcare infrastructure and high adoption of advanced medical technologies, North America has emerged as a frontrunner in this market. The region is home to several prominent market players, driving innovation and propelling market growth. One notable example of a dominant player in North America's peripheral vascular devices market is Medtronic, a leader in medical technology. Medtronic offers a comprehensive portfolio of peripheral vascular devices, including stents, angioplasty balloons, and atherectomy devices. Their cutting-edge solutions cater to a wide range of vascular conditions, ensuring improved patient outcomes and quality of life. With its vast product offerings and strong market presence, Medtronic enjoys a significant market share in the region.