Surging Geriatric Populace set to expedite the Global Peripheral Artery Disease Market Growth

Inkwood Research estimates that the Global Peripheral Artery Disease Market is evaluated to project a CAGR of 10.35% in terms of revenue during the forecasting years of 2021-2028.

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Peripheral artery disease (PAD) is characterized as a disorder of blood vessels situated on the exterior of the brain and heart. The condition occurs when plaque builds up in arteries carrying blood to the head, organs, as well as limbs. Plaque constitutes cholesterol, fat, fibrous tissue, calcium, and other substances.

Growing Geriatric Population to Facilitate Market Growth

A rapid surge in the geriatric population is one of the fundamental drivers associated with the peripheral artery disease market growth. As per the Department of Economic and Social Affairs, 962.3 million people were aged 60 years and above in 2017. Moreover, this number is anticipated to reach 2080.5 million by the year 2050. As a result, the increasing geriatric populace fuels the demand for hypertensive drugs since the elderly are more vulnerable to high blood pressure. In addition, aspects such as diabetes, smoking, and hypercholesterolemia, among others, are the major risk factors linked to the rising prevalence of peripheral artery disease

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Plaque Modification Devices is the Fastest-Growing Devices

Plaque modification devices help clear out blockages in arteries, thus enabling them to regain normal function. As a result, this leads to improved heart function and blood circulation. Plaque entails the deposition of fat on the walls of arteries that narrow them and decrease blood flow. Plaque modification is performed by directional coronary atherectomy as well as alteration with a scoring device. The procedure is typically employed before a stent implant since it prevents restenosis and minimizes arterial injury.

North America Dominated the Global Market in 2020

North America is set to hold the highest market share over the forecast years owing to factors such as the surging senior population and the increasing number of patients suffering from diabetes and blood pressure, with additional complications. Furthermore, continually changing lifestyle habits, like smoking, excessive alcohol consumption, unhealthy dietary habits, lack of physical activity, and obesity make the population highly susceptible to peripheral artery disease.

On the other hand, as per the American Heart Association, peripheral artery disease (PAD) affects more than 8.5 million Americans annually. Therefore, the rising adoption of advanced peripheral artery disease devices, including peripheral angioplasty balloons, inferior vena cava (IVC) filters, peripheral catheters, plaque modification devices, and peripheral accessories, is anticipated to play an essential role in propelling the market growth in North America.

The global market observes high competition among key players such as Angioscore Inc, Abbott Laboratories, Edward Lifesciences Corporation, and others. They also undergo mergers and acquisitions in order to extend the existing product portfolio. Some of the leading companies operating in the market are Bayer AG, Boston Scientific Corporation, Cardinal Health Inc, etc.

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