Peripheral Artery Disease Market by Latest Treatment Methodology and Research Report 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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Competitive Landscape

Lucrative growth opportunities make the peripheral artery disease market highly competitive. Some of the major players in the market are 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. and many more. A number of developmental strategies have been adopted by companies in the past few years. For instance, in September 2020, Abbott Laboratories started the LIFE-BTK clinical trial to assess the effectiveness and safety of its Esprit BTK Everolimus Eluting Resorbable Scaffold System. This is the Investigational Device Exemption (IDE) trial in the U.S. that is expected to help people battling the advanced stages of peripheral artery disease (PAD).

Also, in June 2020, Becton, Dickinson and Company acquired Straub Medical AG, a private company. Straub Medical AG develops medical atherectomy & thrombectomy devices for the treatment of venous disease and peripheral arterial disease (PAD). This acquisition strengthens peripheral artery disease treatment capabilities of the Becton, Dickinson and Company.

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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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