Peripheral Artery Disease Market Size Analysis, Future Trends, Growth Insights, Key Players and Industry Dynamics by 2027

Peripheral Artery Disease Market Overview

Peripheral artery disease market is on track to register a growth rate of 4.84% over the analysis period (from 2020 to 2027). The total market value, by 2027-end, should be around USD 23,624.01 Million, evaluates MRFR.

Peripheral arterial disease (PAD) is closely linked to systemic atherosclerosis that largely affects the arteries in lower extremities. This health condition is deemed as a significant marker for various systemic ischemic events including myocardial infarction, and stroke. Since asymptomatic patients form a substantial portion of the global PAD population, it remains mostly underdiagnosed, undertreated, and under-recognized. On the bright side, soaring number of people growing aware of the latest ways to manage PAD and the accelerated need for fast prevention measures would mean considerable growth for the global market in the future.

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Although PAD treatment is largely restricted to generic drugs, rapidly emerging therapies like stem cell therapies will pave the way for a high revenue scope. Plus, escalating cases of the condition worldwide, combined with the massive unmet medical needs in emerging countries and the development of several novel therapies would present attractive opportunities to the major firms in subsequent years.  

Rapidly expanding geriatric population affected by peripheral artery diseases, and the rise in product approvals would also add to the peripheral artery disease market value. The drastic increase in diabetes in line with the huge prevalence of unhealthy lifestyle habits like excessive alcohol consumption, bad dietary habits, smoking, lack of physical activity, and obesity has raised the susceptibility to peripheral artery disease.

Peripheral Artery Disease Market Segmentation

The treatment type-based segments mentioned in the MRFR report are devices, as well as drugs. Device types are hemodynamic flow alteration devices, angioplasty stents (stenting), angioplasty balloon, plaque modification devices (atherectomy), catheters, and others. Drugs can be split into segments such as blood pressure-lowering drugs, lipid-lowering drugs, blood clot preventing drugs, and glucose regulating drugs.

The peripheral artery disease industry, with respect to end-user, caters to ambulatory surgery centers, hospitals, and clinics, and more. With most of the patients seeking admission in hospitals and clinics, they are able to access quality medical care. This rising number of patients in hospitals would elevate the use of peripheral artery disease devices and technology in hospitals and clinics in the years to follow.

Peripheral Artery Disease Market Regional Study

The peripheral artery disease industry has been regionally segregated into Europe, the Middle East and Africa/MEA along with the Americas, and Asia Pacific/APAC.

MRFR expects the Americas to be the market leader in the years to come, given the significant burden of peripheral artery disease in line with the high occurrence rate of diabetes as well as obesity. The surge in healthcare spending and the adoption of unhealthy diets, smoking, obesity, and lack of exercise, and excessive alcohol consumption also foster the growth of the peripheral artery disease market in the region. 

Europe is closely following Americas, with respect to value, given the escalating cases of cardiovascular disorders and the alarming rise in cigarette smokers across France, Germany, the UK and more. The growth of the older patient base in the European Union would further favor the regional market in the following years.

Asia Pacific will soar at the highest rate between 2020 and 2027, thanks to the burgeoning patient pool and the rise in technological advances in the healthcare sector. The Asia Pacific market also benefits from the rising per capita income paired with the soaring number of government initiatives focused on improving the healthcare infrastructure and the increasing cases of diabetes.

Reputed Competitors

MRFR recognizes some of the most important peripheral artery disease treatment and solutions providers, including Medtronic (Ireland), Cardinal Health (US), Boston Scientific Corporation (US), Becton, Dickinson, and Company (BD) (US), Cook (US), Biotronik (Germany), B. Braun Melsungen AG (Germany), Koninklijke Philips NV (Netherlands), Terumo Medical Corporation (Japan), Bayer AG (Germany), to name a few.

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Industry Updates

Boston Scientific is about to invest close to €30 million in its Cork production unit to accelerate the development as well as manufacturing of a variety of minimally invasive healthcare technologies to treat patients affected by peripheral arterial diseases, and cancer.

Abbott Laboratories has acquired Walk Vascular LLC, in addition to the latter’s minimally invasive technology that removes blood clots. Walk Vascular’s JETi AIO Peripheral Thrombectomy System and JETi Peripheral Thrombectomy System are highly advanced aspiration systems that remove intravascular clots or thrombus.

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