Global Peripheral Vascular Devices Market Size, Share, Growth Analysis, By Product Type, By Application(Peripheral artery disease, deep vein thrombosis ), By End user - Industry Forecast 2024-2031

Global 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, growing at a CAGR of 5.4% during the forecast period (2024-2031).

The development, production, and distribution of medical devices used in the diagnosis and treatment of peripheral vascular illnesses are all included in the dynamic and quickly expanding global market for peripheral vascular devices. By treating a variety of ailments such varicose veins, deep vein thrombosis, and peripheral artery disease (PAD), this industry significantly contributes to better patient outcomes. The need for cutting-edge and efficient peripheral vascular devices is growing globally due to an aging population and an increase in the prevalence of vascular disorders. The peripheral vascular devices market exists to give medical practitioners cutting-edge instruments and technologies for the diagnosis and treatment of vascular diseases.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Peripheral Vascular Devices Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Peripheral Vascular Devices Market Segmental Analysis

Global Peripheral Vascular Devices Market is segmented on the basis of product type, application, end user, and region. By product type, the market is segmented into angioplasty balloons, stents, embolic protection devices, peripheral vascular catheters, atherectomy devices, and vascular closure devices. By application, the market is segmented into peripheral artery disease (PAD), deep vein thrombosis (DVT), varicose veins, and arteriovenous fistulas. By end user, the market is segmented into hospitals, ambulatory surgical centers, and specialty clinics. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Peripheral Vascular Devices Market

One major factor propelling the peripheral vascular devices market is the increasing incidence of cardiovascular disorders, including deep vein thrombosis (DVT) and peripheral artery disease (PAD). The World Health Organization (WHO) states that heart disease is the primary cause of death globally. The need for peripheral vascular devices for detection and treatment is rising as a result of the rising prevalence of cardiovascular illnesses.

Restraints in the Global Peripheral Vascular Devices Market

One major barrier to commercial expansion for peripheral vascular devices is their high cost. The cost of research and development, legal regulations, and the use of cutting-edge materials and technologies are just a few of the reasons why these gadgets can be costly. These devices' high price may prevent them from being widely used, especially in poor nations with tight healthcare budgets and difficult reimbursement policies.

Market Trends of the Global Peripheral Vascular Devices Market

Drug-eluting devices are becoming more and more popular in the peripheral vascular devices market. By delivering therapeutic medications straight to the damaged blood arteries, these devices help avoid restenosis (re-narrowing) and lessen the need for repeated procedures. Drug-eluting stents, for instance, improve patients' long-term outcomes by releasing anti-proliferative medications to prevent the formation of scar tissue in the artery.