Peripheral Artery Disease Market Clinical Research Analysis Outlook 2021 – 2030

At an estimated value of over USD 4.53 billion in 2019, the Global Peripheral Artery Disease Market is predicted to thrive at a CAGR of 6.2% and valued at over USD 8.78 billion over the forecast year 2020-2030.

Peripheral artery disease is a common circulatory problem that causes narrowing of the peripheral arteries. Generally, it affects arteries in the legs and sometimes affect the arteries carrying blood from heart to arms, kidneys, head, and stomach. It is mainly caused by the deposition of fats or plaques in the artery walls. The exercise, tobacco cessation, and a healthy diet are the main treatments for this disease; however, when such treatments aren't enough, medication or surgery can be helpful.

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Top Companies: Abbott Laboratories, Boston Scientific Corporation, Cardinal Health, Inc., Terumo Corporation, Cook Medical, Becton, Dickinson and Company, Koninklijke Philips N.V, AngioDynamics, Inc., and B. Braun Melsungen AG.

Market Dynamics and Trends

Factors such as huge geriatric population, widespread unhealthy lifestyle choices, and rise in new products approvals in the field of peripheral artery disease drive the growth of the market. In addition, high risk factors including diabetes and smoking contributes to the upsurged incidences of peripheral arterial diseases, further propelling the market growth. However, the concern of restenosis, the reoccurrence of peripheral artery disease (PAD) even after the treatment may hamper growth of the market to some extent. On the other hand, continually changing lifestyle habits including unhealthy dietary habits, excessive alcohol consumption, and lack of physical activity also makes people more vulnerable to PAD and thus, boosts the market growth.

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Market Segmentations and Scope of the Study:

The global peripheral artery disease market share is segmented on the basis of type, and geography. On the basis of type, the market is segmented into peripheral angioplasty balloons, peripheral catheters, inferior vena cava (IVC) filters, peripheral stents, plaque modification devices, hemodynamic flow alteration devices, and peripheral accessories. Geographic fragmentation and analysis of each segment includes regions comprising North America, Europe, Asia Pacific and RoW.

Geographical Analysis

In terms of geography, North America held major share of the market in 2019. This is attributed to higher healthcare expenditure and the growing occurrence of minimally invasive surgeries in the region. However, Asia-pacific is expected to be the fastest growing market due to the existence of large patient pool along with unmet medical needs. Moreover, significant growth in population together with growing geriatric population is expected to be opportunistic for the market growth in this region during the forecast period.

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