Market Research Report
Peripheral Vascular Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
|Peripheral Vascular Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)|
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 115 Pages
Delivery time: 2-3 business days
Peripheral arterial disease (PAD) is caused by a narrowing or blocking of the blood vessels, due to a plaque build-up. This condition can lead to tissue death, heart stroke, aneurysms, or kidney diseases, if left untreated.
According to the National Institute of Health, one in every 20 Americans, who are of age 50 years or above, has PAD. It has been affecting 8-12 million people in the United States, especially those over 50 years.
As the population is growing, the prevalence of the disease is also increasing, which may grow from 9.6 million to reach 19 million overall, globally, by 2050. With the aging global population, it is likely that PAD may be increasingly common in the future. Hence, the statistics show that the number of PAD is increasing at a faster pace, which is ultimately driving the market for peripheral arterial disease.
Other factors, such as the rising demand for minimally-invasive procedures, especially for peripheral arterial disease, lifestyle changes, increase in aging population, and technological advancements, have broadened the range of the peripheral vascular devices.
The presence of the major market players, such as Abbott Laboratories, Boston Scientific Corporation, Becton, Dickinson and Company, Cook Group, and Medtronic PLC, is intensifying the market competition. The increasing innovation and rise in investment for various public and private organizations are expected to intensify the industry rivalry across the world.