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Critical Limb Ischemia Market Analysis, Trends, Size And Insights 2024 To 2033
Critical Limb Ischemia Market
According to The Business Research Company's, The critical limb ischemia market size has grown strongly in recent years. It will grow from $3.29 billion in 2023 to $3.58 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to increase in diabetes cases, tobacco consumption, hypertension prevalence, improvements in vascular imaging, growth in endovascular interventions, medical research and clinical trials..
The critical limb ischemia market size is expected to see strong growth in the next few years. It will grow to $5.02 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to regenerative medicine advances, focus on early intervention, increasing prevalence of obesity, global health initiatives, patient education program.. Major trends in the forecast period include wearable health technologies, telemedicine and remote patient monitoring, integration of artificial intelligence (ai), patient-centric care models, minimally invasive interventions..
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Market Drivers and Trends:
The rising incidence of diabetes mellitus and peripheral artery diseases is expected to propel the growth of the critical limb ischemia treatment market going forward. Diabetes mellitus refers to a metabolic disease condition that involves elevated levels of blood glucose. Peripheral artery disease refers to a condition where leg arteries are narrowed, reducing blood flow to the arms or legs. The likelihood of vascular complications and amputation is increased by diabetes and peripheral artery diseases, making them risk factors for causing critical limb ischemia. Therefore, the rising incidence of diabetes mellitus and peripheral artery diseases is driving the growth of the critical limb ischemia market. For instance, in January 2022, according to the International Diabetes Federation, a Belgium-based umbrella organization of national diabetes associations, the global diabetes prevalence in 20-79-year-olds in 2021 was 536.6 million and was expected to increase by 12.2% (783.2 million) in 2045. Furthermore, in March 2023, according to the journal published by Oxford University Press, a UK-based university press of the University of Oxford, more than 200 million people were affected by peripheral artery diseases in 2020, and it is expected to increase by nearly 50% by 2045. Therefore, the growing adoption of cloud-based document processing services is driving the critical limb ischemia treatment market.
Technological advancements are a key trend gaining popularity in the critical limb ischemia treatment market. Major companies operating in the critical limb ischemia treatment market are adopting new technologies to strengthen their position in the market. For instance, in January 2021, the Society for Vascular Surgery (SVS), a major national academic society for vascular surgery in the United States, launched three new mobile applications related to chronic limb-threatening ischemia treatment: the VQI CLTI Mortality Prediction Model, the SVS Threatened Limb Classification [WIfI] calculator, and the Global Limb Anatomic Staging System [GLASS] calculator. They are uniquely designed applications that guide physicians in the treatment and management of chronic limb-threatening conditions, allowing real-time estimation of patient risk, the severity of limb threat, and the anatomic complexity of the disease.
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Major Key Players of the Market:
Medtronic Plc; Boston Scientific Corporation; ThermoGenesis Holdings Inc.; Abbott Laboratories; Pluri Biotech Ltd.; Rexgenero Ltd.; LimFlow SA; Micro Medical Solutions; Cardiovascular Systems Inc.; Cynata Therapeutics Ltd; Shanghai MicroPort Medical (Group) Co Ltd.; B. Braun SE; Teva Pharmaceutical Industries Ltd.; Aldagen Inc.; Cook Medical; Philips; BD; Penumbra Inc.; Cardinal Health Inc.; Teleflex Incorporated; AngioDynamics Inc.; Endologix Inc.; Terumo Corporation; Teleflex; MicroPort Scientific; Silk Road Medical; LeMaitre Vascular Inc.; Merit Medical Systems Inc.; Shockwave Medical; Avinger; Biomerics LLC; Intact Vascular Inc.; Soundbite Medical Solutions; Bluegrass Vascular Technologies; PQ Bypass; Vasorum Ltd; Rex Medical; Otsuka Medical Devices; Aortica Corporation
Critical Limb Ischemia Market 2024 Key Insights:
• The critical limb ischemia market will grow to $5.02 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
• Rising Incidence Of Diabetes Mellitus And Peripheral Artery Diseases Drives Critical Limb Ischemia Treatment Market Growth
• Technological Advancements Drive Innovations In Critical Limb Ischemia Treatment Market
• North America was the largest region in the critical limb ischemia treatment market in 2023
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