Peripheral Vascular Devices Market to Grow at a CAGR of 6.8% | Opportunities and Challenges for New Market Entrants in Healthcare

The ****** Peripheral Vascular Devices Market was valued at USD 10.3 billion. It is expected to reach USD 14.3 billion by 2024, at a CAGR of 6.8%. The growth of this market is due to the rapid growth in the geriatric population, rising disease prevalence, and the growing preference for minimally invasive products. The demand for these products has also shown significant growth in emerging economies.

The atherectomy devices segment held the largest share in the plaque modification devices market in 2018

Based on type, the market for plaque modification devices is segmented into atherectomy devices and thrombectomy devices. Atherectomy devices held the leading share of the plaque modification devices market in 2018. This is driven largely by the increasing obesity levels worldwide and the increasing number of approvals for new products in this field.

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Drug-eluting balloons will register the highest growth rate in the angioplasty balloons market

Based on type, angioplasty balloons are classified as old/normal, drug-eluting, and cutting and scoring balloons. Of these, drug-eluting balloons are expected to show the highest growth during 2018–2022, mainly due to the increasing demand for angioplasty procedures. This has ensured a greater focus on product availability and thereby stimulated the approval of new products in the market.

By region, North America formed the largest market segment in 2018

North America, Europe, the Asia Pacific, and the Rest of the World (RoW) are the key regional markets for peripheral vascular devices. Of these, North America held the largest market share in 2018, mainly due to the growing geriatric population, a strong base of industry players in the region, and the increasing prevalence of cardiovascular diseases.

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Leading Companies

The leading players in the market are Abbott Laboratories (US), Cardinal Health (US), Biosensors International Group (Singapore), Boston Scientific Corporation (US), iVascular (Spain), Becton, Dickinson and Company (US), Medtronic (US), B. Braun Melsungen (Germany), Terumo Corporation (Japan), and BIOTRONIK (Germany).