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

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

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The report estimates the global peripheral vascular devices market to exhibit a CAGR of 11.54% over the forecasted duration of 2021-2028, generating a revenue of $7414.83 million by 2028.
Peripheral arterial disease (PAD) is a serious medical condition affecting both men and women.

It can lead to other issues like heart stroke, tissue death, kidney diseases, or aneurysms, if left untreated. Having diabetes also increases the likelihood of a person developing PAD later on by ten times more than a healthy person. Also, older patients, in the age group of 65 years and above, are found to be highly prone to developing this disease. The growing burden of peripheral arterial disease, and the resulting hospitalization due to it, has increased the adoption of vascular devices. This growing adoption is contributing to the growth of the global market.

Though reimbursement options are provided for peripheral vascular diseases, the coverage is only given for specific therapies. Many a times, it is only provided for the surgery and not for rehabilitation or other therapies. The absence of proper reimbursement facilities is a major hurdle in the path of market growth.

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

The Asia-Pacific region is expected to demonstrate the fastest growth in the global market over the forecasting period. Cases of people with peripheral vascular disease, and several associated conditions, have been on the rise. With growing incomes and higher purchasing power, people can now afford effective and timely treatment. Also, insurance companies are now offering financial cover for these diseases, and a large number of people are signing up for these policies. All these factors are enhancing the demand for peripheral vascular devices. This, in turn, is aiding the growth of the peripheral vascular devices market.

Boston Scientific Corporation, Teleflex Medical, Abbott Laboratories, Terumo Interventional Systems Inc, Endologix, Cook Group, Koninklijke Philips NV, Medtronic Plc, Cardinal Health Inc (Cordis), Edwards Lifesciences Corporation, Angioscore Inc (Spectranetics Corporation), and Becton Dickinson and Company are the prominent players in the peripheral vascular devices market.

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Question & Answer: Peripheral Vascular Devices Market

Question 1: What factor is contributing to the growth of the global peripheral vascular devices market?
Answer: Peripheral arterial disease (PAD) is a serious medical condition affecting both men and women. It can lead to other issues like heart stroke, tissue death, kidney diseases, or aneurysms, if left untreated. Having diabetes also increases the likelihood of a person developing PAD later on by ten times more than a healthy person. Also, older patients, in the age group of 65 years and above, are found to be highly prone to developing this disease. The growing burden of peripheral arterial disease, and the resulting hospitalization due to it, has increased the adoption of vascular devices. This growing adoption is contributing to the growth of the global market.

Question 2: What is a major hurdle in the path of the peripheral vascular devices market growth?
Answer: Though reimbursement options are provided for peripheral vascular diseases, the coverage is only given for specific therapies. Many a times, it is only provided for the surgery and not for rehabilitation or other therapies. The absence of proper reimbursement facilities is a major hurdle in the path of market growth.

Question 3: Which region is expected to demonstrate the fastest growth in the global peripheral vascular devices market?
Answer: The Asia-Pacific region is expected to demonstrate the fastest growth in the global market over the forecasting period. Cases of people with peripheral vascular disease, and several associated conditions, have been on the rise. With growing incomes and higher purchasing power, people can now afford effective and timely treatment. Also, insurance companies are now offering financial cover for these diseases, and a large number of people are signing up for these policies. All these factors are enhancing the demand for peripheral vascular devices. This, in turn, is aiding the growth of the peripheral vascular devices market.

Question 4: Which are the prominent players in the peripheral vascular devices market?
Answer: Boston Scientific Corporation, Teleflex Medical, Abbott Laboratories, Terumo Interventional Systems Inc, Endologix, Cook Group, Koninklijke Philips NV, Medtronic Plc, Cardinal Health Inc (Cordis), Edwards Lifesciences Corporation, Angioscore Inc (Spectranetics Corporation), and Becton Dickinson and Company are the prominent players in the peripheral vascular devices market.

Related Report:
Global Cardiovascular Ultrasound Market - https://www.tritonmarketresearch.com/reports/cardiovascular-ultrasound-market

The global cardiovascular ultrasound market is set to grow in revenue in the forecasting years 2019-2027, and generate $2284.96 million by 2027, with a CAGR of 5.31%.

The growing healthcare spending worldwide is a major factor boosting the growth of the cardiovascular ultrasound system market. The healthcare industry is fast-evolving, thanks to the advancements in technology, good quality of services, and the rising expenditure by public & private players. Statistics from the Institute for Health Metrics and Evaluation indicate that the global spending on healthcare is likely to amount to $18.28 trillion by the year 2040. Developed nations, like the United States, the United Kingdom, and Australia, specifically, are expected to spend $9,019 per person on healthcare by then.

The increasing healthcare expenditure is anticipated to positively influence the global cardiovascular ultrasound system market's progress in the coming years.

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