The Global Peripheral Vascular Devices Market to Witness Growth at 11.54% of CAGR by 2028

Triton Market Research presents the Global Peripheral Vascular Devices Market report segmented by Device Type (Peripheral Vascular Stents [Self-expanding Peripheral Vascular Stents, Balloon-expanding Peripheral Vascular Stents, Drug-eluting Peripheral Vascular Stents, Covered Stent], Percutaneous Transluminal Angioplasty (PTA) Balloon Catheters [Standard PTA Balloon Catheters, High-Pressure PTA Balloon Catheter, Large PTA Balloon Catheter, Small PTA Balloon Catheter, Specialty PTA Balloon Catheter, Drug Coated PTA Balloon Catheter], Percutaneous Transluminal Angioplasty (PTA) Guidewires, Atherectomy Devices, Embolic Protection Devices, Inferior Vena Cava Filters, Other Device Types), and by Geographical Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), discussing Market Summary, Industry Outlook, Key Insights, Impact of COVID-19, Porter's Five Forces Analysis, Market Attractiveness Index, Vendor Scorecard, Key Market Strategies, Drivers, Restraints, Opportunities, Competitive Landscape, Methodology & Scope, Global Market Size, Forecasts & Analysis (2021-2028).

As per a report by Triton Market Research, the Global Peripheral Vascular Devices Market is expected to progress at 11.54% of CAGR during the forecasting years (2021-2028).

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Peripheral arterial disease (PAD) is one of the grave diseases plaguing people today. The first steps used to cure this condition involve the use of medication and lifestyle changes, or surgeries like bypass, endovascular intervention, or endarterectomy. However, with the advancement in technology, patients can now be treated with minimally invasive surgeries (MIS) for PAD, and they have been reported to cause less post-operative pain.

Thus, patients are given smaller dosages of painkillers. Also, since there are minimal cuts or stitches involved, the hospital stay is relatively shorter, and patients need not visit the hospital frequently. The adoption of minimally invasive surgeries is thus driving the growth of the market studied. However, the prolonged regulatory approval processes and complexities act as barriers in the process of market growth.

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The market in the Asia-Pacific region is expected to demonstrate the fastest growth rate in the world in the projected duration. There has been a steady rise in the demand for advanced vascular devices in the region, owing to a large number of older adults. Old age increases the risk of several diseases and health conditions, including peripheral vascular disease, diabetes, cardiovascular disease, hypertension, etc. these factors significantly raise the demand for peripheral vascular devices, and thereby drive the market's growth.

Cook Group, Edwards Lifesciences Corporation, Medtronic Plc, Cardinal Health Inc (Cordis), Boston Scientific Corporation, Angioscore Inc (Spectranetics Corporation), Terumo Interventional Systems Inc, Teleflex Medical, Becton Dickinson and Company, Koninklijke Philips NV, Abbott Laboratories, and Endologix are some of the prominent names operating in this market.
In the initial stages, high capital investment is required for players to enter this market, which makes the entry barriers very high. The bigger names in the industry companies usually merge with or acquire or potential start-ups to minimize the threat of new entrants. Also, there are a large number of products available in the market, and this industry is fragmented with a high number of manufacturers. Therefore, the bargaining power of buyers is expected to be high in the projected phase.

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