The Global Peripheral Vascular Devices Market to Garner $7414.83 Million by 2028

According to Triton Market Research’s report, the global peripheral vascular devices market accumulated $2771.43 million in 2020, and will showcase 11.54% of CAGR by 2028.

A recent study by Triton Market Research titled ‘Global Peripheral vascular devices Market,’ covers the Global Analysis and Forecasts by Device Type (Percutaneous Transluminal Angioplasty (PTA) Balloon Catheters [Drug Coated PTA Balloon Catheter, Specialty PTA Balloon Catheter, Small PTA Balloon Catheter, Large PTA Balloon Catheter, High-Pressure PTA Balloon Catheter, Standard PTA Balloon Catheters], Peripheral Vascular Stents [Covered Stent, Drug-eluting Peripheral Vascular Stents, Balloon-expanding Peripheral Vascular Stents, Self-expanding Peripheral Vascular Stents], Atherectomy Devices, Percutaneous Transluminal Angioplasty (PTA) Guidewires, Embolic Protection Devices, Inferior Vena Cava Filters, Other Device Types), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).

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Triton Market Research’s report estimates the global peripheral vascular devices market to chart 11.54% of CAGR over the forecast period from 2021 to 2028, and generate revenues worth $7414.83 million by 2028.

Poor work-life balance has led to a change in people’s lifestyles. A large number of people have taken to smoking and alcohol consumption, which is deeply impacting their health. The consumption of fast food has also grown significantly. Also, lack of proper sleep and exercise are further worsening the scenario. All these factors put an individual at a high risk of peripheral vascular disease. The growing cases of PVD are, however, boosting the growth of the studied market.

Since the healthcare industry is growing at a rapid pace, companies in this space are trying to bring new technologies and products into the market in order to attract customers and strengthen their market position. However, the high number of choices available in the market is leading to price erosion. The high level of completion among players is having a negative impact on the market growth.

The market for peripheral vascular devices is primarily divided into device type. This segment is sub-segmented into percutaneous transluminal angioplasty (PTA) balloon catheters, peripheral vascular stents, atherectomy devices, percutaneous transluminal angioplasty (PTA) guidewires, embolic protection devices, inferior vena cava filters, and other device types. Based on percutaneous transluminal angioplasty (PTA) balloon catheters, it is classified into drug coated PTA balloon catheter, specialty PTA balloon catheter, small PTA balloon catheter, large PTA balloon catheter, high-pressure PTA balloon catheter, standard PTA balloon catheters. Whereas, on the basis of peripheral vascular stents, the market is segmented into covered stent, drug-eluting peripheral vascular stents, balloon-expanding peripheral vascular stents, and self-expanding peripheral vascular stents.

The market in the Asia-Pacific is anticipated to evolve the fastest, globally, in the forecasted duration. With the advancements in technology, the healthcare infrastructure in APAC countries is developing impressively. Also, countries like India and China boast of having highly skilled doctors, surgeons, and other healthcare professionals. Thus, people living in developed nations can now avail world-class treatment for several health conditions, including peripheral vascular disease, at affordable rates. Owing to this, they are largely rushing to these countries, which is boosting medical tourism in this region. Also, due to the growing public awareness, local residents are also seeking treatment for diseases like PVD. All these factors are bolstering the growth of the studied market.

Precise Automation Inc, Robert Bosch GmbH, Yaskawa Electric Corporation, Mitsubishi Electric Corporation, Rockwell Automation Inc, Universal Robots, Stäubli International AG, Mayekawa Mfg Co Ltd, Fanuc Corporation, Kuka AG, Kawasaki Heavy Industries Ltd, Seiko Epson Corporation, Flexicell, ABB Ltd (ABB Robotics), and Bastian Solutions Inc are the established names operating in this market.

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Question & Answer: Peripheral Vascular Devices Market
Question 1: What factors are boosting the growth of the peripheral vascular devices market?
Answer: Poor work-life balance has led to a change in people’s lifestyles. A large number of people have taken to smoking and alcohol consumption, which is deeply impacting their health. The consumption of fast food has also grown significantly. Also, lack of proper sleep and exercise are further worsening the scenario. All these factors put an individual at a high risk of peripheral vascular disease. The growing cases of PVD are, however, boosting the growth of the studied market.

Question 2: What factor is having a negative impact on the peripheral vascular devices market growth?
Answer: Since the healthcare industry is growing at a rapid pace, companies in this space are trying to bring new technologies and products into the market in order to attract customers and strengthen their market position. However, the high number of choices available in the market is leading to price erosion. The high level of completion among players is having a negative impact on the market growth.

Question 3: How is the Asia-Pacific influencing the outlook of the peripheral vascular devices market?
Answer: The market in the Asia-Pacific is anticipated to evolve the fastest, globally, in the forecasted duration. With the advancements in technology, the healthcare infrastructure in APAC countries is developing impressively. Also, countries like India and China boast of having highly skilled doctors, surgeons, and other healthcare professionals. Thus, people living in developed nations can now avail world-class treatment for several health conditions, including peripheral vascular disease, at affordable rates. Owing to this, they are largely rushing to these countries, which is boosting medical tourism in this region. Also, due to the growing public awareness, local residents are also seeking treatment for diseases like PVD. All these factors are bolstering the growth of the studied market.

Question 4: Which are the established names operating in the peripheral vascular devices market?
Answer: Precise Automation Inc, Robert Bosch GmbH, Yaskawa Electric Corporation, Mitsubishi Electric Corporation, Rockwell Automation Inc, Universal Robots, Stäubli International AG, Mayekawa Mfg Co Ltd, Fanuc Corporation, Kuka AG, Kawasaki Heavy Industries Ltd, Seiko Epson Corporation, Flexicell, ABB Ltd (ABB Robotics), and Bastian Solutions Inc are the established names operating in this market.

Related Report:
Global Cardiovascular Ultrasound Market
The global cardiovascular ultrasound market is set to exhibit revenue growth in the forecasting years 2019-2027. It is estimated to record a CAGR of 5.31%, and garner $2284.96 million in revenue by 2028.

Surgeons across the world are increasingly opting for minimally invasive surgeries. Development in coronary and peripheral interventions has led to a rise in the number of clinical trials and new product launches in the market. These processes are performed by making small incisions in the body in order to treat plaque hindrances in arteries and other blood vessels. Minimally invasive procedures facilitate faster recovery, cause less pain, and result in fewer post-surgery infections & minimized incision marks. Also, these procedures offer high accuracy and cause minimal complications, thereby leading to reduced hospital stays. Owing to all these factors, patients also increasingly prefer undergoing MI techniques. This factor is contributing to the development of the cardiovascular ultrasound market.

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