Peripheral artery disease Market on target to reach $4,980 Million by 2023
Global Peripheral Artery Disease Market was valued at $3,136 million in 2016, and is estimated to reach $4,980 million by 2023, growing at a CAGR of 6.8% from 2017 to 2023.
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Favorable reimbursement scenario for peripheral artery disease treatment and introduction of advanced treatment products such as drug-eluting stents boost the market growth. However, the issue of restenosis (reoccurrence of peripheral artery disease even after the treatment) impedes the market growth.
Peripheral stents segment is expected to dominate the market throughout the analysis period as these significantly reduce the risk associated with the build-up of plaque in the arteries. Plaque modification devices is expected to register highest CAGR of 7.6% during 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.
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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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