Peripheral Artery Disease Market Expected to Hit $4,980 Million by 2023

According to a new report published by Allied Market Research, titled, "Peripheral Artery Disease Market by Type: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global peripheral artery disease market was valued at $3,136 million in 2016, and is projected to reach $4,980 million by 2023, growing at a CAGR of 6.8% from 2017 to 2023. The peripheral stents segment held more than two-fifth share of the total market in 2016.

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Peripheral arterial disease is a circulatory disorder in which plaque builds up in the legs, head and other limb arteries. The increase in the elderly population and the increase in the number of patients suffering from peripheral arterial disease are expected to lead to market growth. In addition, favorable reimbursement scenarios for advanced peripheral treatments such as drugs for peripheral artery disease and drug stents facilitate market growth. However, restenosis (recurrence of peripheral arterial disease after treatment) is expected to hamper market growth.

The peripheral stent segments are expected to dominate the market during the analysis period, which can greatly reduce the risk associated with arterial plaque formation. The plaque correction device is expected to register a high CAGR of 7.6% over the forecast period.

Key Findings of the Peripheral Artery Disease Market:

• Atherectomy devices is projected to grow at a CAGR of 7.9% during the forecast period.
• Chronic total occlusion devices accounted for more than two-fifth of the share of the global peripheral artery disease market, in 2016.
• Aspiration thrombectomy segment is expected to register the highest CAGR of 10.3% during the analysis period.
• Drug-eluting stents is expected to grow at the CAGR of 7.7% during the forecast period.
• France and Germany collectively contributed for more than one-third share of the European peripheral artery disease market in 2016.
• Japan is the major shareholder, accounting for more than one-third share of the Asia-Pacific peripheral artery disease market in 2016.

Asia-Pacific is projected to register the highest CAGR of 7.9% during the forecast period, owing to increase in incidence of population suffering from diabetes, obesity, and high blood pressure. In addition, increase in healthcare expenditure and introduction of interventional products such as drug-coated balloon offer a lucrative opportunity for the market growth.
The major companies profiled in the report include Abbott Laboratories, Boston Scientific Corporation, Cook Medical, Cardinal Health, Inc., C. R. Bard, Inc., Medtronic plc, Terumo Corporation, The Spectranetics Corporation, AngioDynamics, Inc., BIOTRONIK, and B. Braun Melsungen AG.

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