Peripheral Vascular Devices Market to Reach $3.6 Billion by 2031, Led by Functional Peripheral Artery Disease Driving Over 55% of Global Growth

Market Size & Growth

The global Peripheral Vascular Devices Market was valued at USD 2.2 billion in 2024 and is projected to reach USD 3.6 billion by 2031, growing at a CAGR of approximately 6.0% during the forecast period. Growth is driven by rising prevalence of peripheral artery disease (PAD), technological innovations in minimally invasive vascular interventions, increasing adoption of vascular stents, balloon catheters, and atherectomy devices, and growing awareness of early diagnosis and treatment of PAD. Peripheral vascular devices are specialized medical instruments used to diagnose and treat disorders of peripheral arteries and veins, particularly peripheral artery disease (PAD). These devices include vascular stents, balloon catheters, guidewires, atherectomy devices, inferior vena cava (IVC) filters, and embolic protection devices, which help restore blood flow, prevent complications, and improve vascular health.

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Recent Developments

United States:
✅ October 2025: Abbott Laboratories launched next-generation drug-eluting vascular stents for PAD with improved patency rates (USD 45 million impact).

✅ August 2025: Boston Scientific Corporation expanded U.S. distribution of embolic protection devices for high-risk vascular interventions (USD 32 million impact).

✅ May 2025: Medtronic introduced AI-assisted imaging integration for precise peripheral stent deployment (USD 28 million impact).

Global:
✅ September 2025: Terumo Corporation rolled out innovative guidewires and balloon catheters across Europe for complex vascular procedures (USD 30 million impact).

✅ June 2025: MicroPort expanded minimally invasive PAD device portfolios in Asia-Pacific markets (USD 25 million impact).

✅ March 2025: Volcano Corporation launched advanced intravascular imaging systems in Latin America (USD 20 million impact).

Mergers & Acquisitions

United States:
✅ July 2025: Boston Scientific Corporation acquired a precision vascular device startup (USD 40 million deal) to enhance PAD intervention capabilities.

Europe & Asia-Pacific:
✅ February 2025: Abbott Laboratories partnered with European distributors to expand drug-eluting stent market penetration (USD 35 million value).

✅ January 2025: Terumo Corporation merged with a regional catheter manufacturer to strengthen production and distribution capabilities in Asia-Pacific (USD 30 million investment).

Key Players:
Abbott Laboratories, Boston Scientific Corporation, Becton, Dickinson and Company, Cook, Cordis Corporation, Edward Lifesciences, MicroPort, Terumo Corporation, Medtronic, and Volcano Corporation. These companies hold significant market share by leveraging technological innovation, global distribution, and hospital and specialty clinic partnerships.

Key Highlights:

Abbott Laboratories - A global leader in cardiovascular and vascular devices, Abbott specializes in vascular stents, balloon catheters, and guidewires for peripheral artery disease. The company holds an estimated 15% market share (USD 330 million, 2024), driven by its innovative drug-eluting stents and global distribution network.

Boston Scientific Corporation - Known for its minimally invasive medical devices, Boston Scientific focuses on embolization, atherectomy devices, and peripheral stents, capturing around 13% market share (USD 286 million, 2024) through advanced procedural solutions and partnerships with hospitals and specialty clinics.

Becton, Dickinson and Company (BD) - BD provides a wide range of balloon catheters, guidewires, and vascular access solutions, contributing approximately 10% of the market (USD 220 million, 2024). Its growth is supported by strong R&D capabilities and global healthcare supply chains.

Cook Medical - Specializes in inferior vena cava (IVC) filters, embolic protection devices, and interventional vascular devices, holding an estimated 8% market share (USD 176 million, 2024), backed by innovative product designs and targeted PAD interventions.

Cordis Corporation - A pioneer in interventional vascular devices, Cordis offers vascular stents, balloon catheters, and guidewires, capturing 9% of the market (USD 198 million, 2024), driven by its focus on procedural efficiency and minimally invasive solutions.

Edward Lifesciences - Focuses on peripheral vascular stents and catheters, holding roughly 7% market share (USD 154 million, 2024). Its growth is driven by high-quality device standards and adoption in leading hospitals globally.

MicroPort - A leading manufacturer in Asia-Pacific, MicroPort provides vascular stents and guidewires, with around 6% market share (USD 132 million, 2024), expanding rapidly due to increasing PAD prevalence and emerging market penetration.

Terumo Corporation - Specializes in balloon catheters, guidewires, and vascular intervention devices, contributing approximately 8% market share (USD 176 million, 2024). Its growth is fueled by innovative products and strong hospital partnerships in Japan, China, and other APAC countries.

Medtronic - A global leader in vascular stents, balloon catheters, and imaging-integrated PAD devices, with an estimated 15% market share (USD 330 million, 2024), driven by advanced technology adoption, AI-assisted imaging, and extensive distribution networks.

Volcano Corporation - Focused on intravascular imaging and diagnostic systems for peripheral vascular interventions, holding about 9% market share (USD 198 million, 2024). Its devices are widely adopted for real-time procedural guidance and optimized outcomes in hospitals and specialty clinics.

Market Segmentation:

➥By Type: Functional Peripheral Artery Disease dominates the market with 55% share (USD 1.21 billion, 2024), reflecting high prevalence and demand for procedural interventions. Organic Peripheral Artery Disease accounts for 45% (USD 990 million, 2024), driven by chronic conditions and vascular complications requiring specialized devices.

➥By Device Type: Vascular Stents lead with 35% share (USD 770 million, 2024) due to their wide adoption in restoring blood flow in PAD patients. Balloon Catheters represent 25% (USD 550 million, 2024), commonly used for minimally invasive interventions. Guidewires hold 15% (USD 330 million, 2024), essential for procedural navigation, while Atherectomy Devices capture 10% (USD 220 million, 2024) for plaque removal. Inferior Vena Cava Filters and Embolic Protection Devices each account for 5% (USD 110 million, 2024), providing niche protection in high-risk patients. Other device types also constitute 5% (USD 110 million, 2024) of the market.

➥By End-User: Hospitals dominate adoption with 50% share (USD 1.1 billion, 2024), reflecting high procedural volumes and infrastructure readiness. Specialty Clinics represent 25% (USD 550 million, 2024), driven by outpatient PAD interventions. Ambulatory Surgical Centers account for 15% (USD 330 million, 2024), catering to minimally invasive procedures, while Academic Research Centers hold 10% (USD 220 million, 2024), focusing on device development and clinical studies.

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Regional Insights:

North America leads the market with 40% share (USD 880 million, 2024), driven by high prevalence of peripheral artery disease (PAD), advanced vascular intervention infrastructure, and widespread adoption of stents and balloon catheters in hospitals and specialty clinics.

Europe accounts for 30% (USD 660 million, 2024), with growth supported by streamlined regulatory approvals, a rising geriatric population, and increased hospital investments in minimally invasive vascular procedures.

Asia-Pacific holds 20% share (USD 440 million, 2024; CAGR 7.5%), fueled by increasing diabetes and PAD incidence, expansion of healthcare facilities, and government initiatives promoting cardiovascular health and intervention accessibility.

Latin America, Middle East & Africa (LAMEA) collectively represent 10% (USD 220 million, 2024), with market expansion supported by hospital modernization programs, awareness campaigns on PAD, and gradual adoption of minimally invasive peripheral vascular procedures across emerging regions.

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Market Dynamics:

Drivers: The market is driven by the rising prevalence of peripheral artery disease (PAD) and related vascular complications across aging and diabetic populations. Growth is further supported by advancements in minimally invasive vascular intervention devices such as stents, balloon catheters, and atherectomy systems. Additionally, increasing adoption of AI-assisted imaging and advanced vascular diagnostics in hospitals and specialty clinics is enhancing procedural precision and patient outcomes.

Restraints: Market growth is restrained by the high cost of advanced PAD intervention devices, which can limit accessibility in price-sensitive regions. Regulatory challenges, including stringent compliance requirements for medical devices, also impede rapid adoption. Moreover, limited access to specialized vascular centers in emerging markets restricts widespread procedural implementation.

Opportunities: Expansion opportunities exist in emerging markets with rapidly growing healthcare infrastructure and rising cardiovascular awareness. Development of next-generation vascular stents, biodegradable devices, and combination therapy solutions provides scope for innovation. Integration of digital health platforms, AI-guided imaging, and automated hospital supply chains can further enhance procedural efficiency, clinical outcomes, and operational optimization.

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