Global Peripheral Artery Disease Market Is Projected To Grow At A CAGR Of 10.35% During The Forecast Period, 2021-2028
The global peripheral artery disease market is projected to grow at a CAGR of 10.35% during the forecast period, 2021-2028. The market growth is propelled by technological advancements in treatment, increasing geriatric population, healthcare infrastructure, and improving reimbursement and insurance policies in developing economies.
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Peripheral artery disease (PAD) is a disease of blood vessels located outside the heart and brain. It occurs due to plaque build-up in arteries that carry blood to limbs, organs, and head. One of the primary drivers of market growth is enhanced insurance and reimbursement policies. Governments across the world are striving to provide quality healthcare for their population.
Moreover, health issue awareness, health insurance promotion, and ensuring strong infrastructure are among the authorities' activities for people's welfare. In 2017, the National Health Service Surveys reported a growth in total health expenditure from 2009. It expanded its three primary social health insurance schemes to cover more than 95% of the population. Such factors promote market growth. However, the high competition and strict approval process hamper the market growth.
The global peripheral artery disease market growth analysis includes the assessment of North America, Europe, Asia-Pacific, and Rest of World. Asia-Pacific is evaluated to fare the highest in terms of CAGR by 2028. There is a growing demand for advanced peripheral disease devices in the region due to the rising aging population.
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There is high competition among well-established players of the market increasing mergers & acquisitions to expand their product portfolio. Some of the key players in the market include Biotronik Inc, Bayer AG, Abbott Laboratories, Angiodynamics Inc, B Braun Melsungen AG, etc.
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